Technical analysis of NZD/USD for March 30, 2017

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Overview:

  • The pair has already formed minor resistance at 0.7004 and the strong resistance is seen at the level of 0.7075 because it represents the weekly resistance 1. Moreover, the NZD/USD pair is still moving around the zone of 0.7075 (major resistance). So, major resistance is seen at 0.7075, while immediate support is found at 0.6946. If the pair closes below the price of 0.6946, the NZD/USD pair may resume its movement to 0.6850 to test the daily support 2.
  • The NZD/USD pair is expected to trade between the levels of 0.7004 and 0.6850. The RSI is still calling for a strong bearish market since two weeks. The current price is also below the moving average 100. As a result, sell trades are recommended below the double top of 0.7004 with targets at 0.6869 and 0.6850. However, stop loss should always be taken into account; accordingly, it will be useful to set the stop loss above the last bullish wave at the level of 0.7075. Additionally, the pair will probably decline because the downward trend is still strong.

The material has been provided by InstaForex Company – www.instaforex.com

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UK and USA. Market Analysis by Bizgroup.info

UK Prime-minister Theresa May signed the papers about British exit from European Union. It was sent to the head of EU Donald Tusk. GBP/USD reacted with a fall because of Article 50. Support was found at 1.2380. Now it is very hard to predict the future of the pair. EUR is going down on the background of financial flows, which are common for the end of month, Article 50 and situation in Greece. Commodity currencies grow against USD. FTSE gained 0,3% which was caused by the GBP fall and price growth for materials. As was expected, competition authorities of EU blocked the business combination of Deutsche Doerse (XETRA: Deutsche Doerse [DB1]) and LSE (LSE: London Stock Exchange Group [LSE]).

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UK and USA. Market Analysis by Bizgroup.info

UK Prime-minister Theresa May signed the papers about British exit from European Union. It was sent to the head of EU Donald Tusk. GBP/USD reacted with a fall because of Article 50. Support was found at 1.2380. Now it is very hard to predict the future of the pair. EUR is going down on the background of financial flows, which are common for the end of month, Article 50 and situation in Greece. Commodity currencies grow against USD. FTSE gained 0,3% which was caused by the GBP fall and price growth for materials. As was expected, competition authorities of EU blocked the business combination of Deutsche Doerse (XETRA: Deutsche Doerse [DB1]) and LSE (LSE: London Stock Exchange Group [LSE]).

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GBP/USD: UK GDP in Q4

Current dynamics

 Nine months after the vote for secession from the EU, British Prime Minister Theresa May signed Wednesday a decree on the beginning of the British divorce proceedings with the European Union. The beginning of the two-year period of Brexit negotiations based on Article 50 of the Lisbon Agreement is laid. Now Great Britain will try to soften for itself the conditions of this process. Negotiations should begin within a few weeks; the most cautious forecast is until the end of the second quarter. The uncertainty of this process puts pressure on the pound.

On the other hand, Fed officials continue to signal that the US central bank is still prepared to continue raising rates this year. In their opinion, the Fed will raise the rate 2-3 times more this year.

The post GBP/USD: UK GDP in Q4 appeared first on forexnewstoday.net.

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GBP/USD: UK GDP in Q4

Current dynamics

 Nine months after the vote for secession from the EU, British Prime Minister Theresa May signed Wednesday a decree on the beginning of the British divorce proceedings with the European Union. The beginning of the two-year period of Brexit negotiations based on Article 50 of the Lisbon Agreement is laid. Now Great Britain will try to soften for itself the conditions of this process. Negotiations should begin within a few weeks; the most cautious forecast is until the end of the second quarter. The uncertainty of this process puts pressure on the pound.

On the other hand, Fed officials continue to signal that the US central bank is still prepared to continue raising rates this year. In their opinion, the Fed will raise the rate 2-3 times more this year.

The post GBP/USD: UK GDP in Q4 appeared first on forexnewstoday.net.

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Technical analysis of USD/JPY for March 30, 2017

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USD/JPY is expected to trade with bullish outlook. The pair broke above its 20-period and 50-period moving averages and is holding on the upside. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Additionally, 110.75 is playing a key support role, which should limit the downside potential.

As long as this key level is not broken, look for a further upside toward 111.50 and even 111.85 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 111.50 and the second one at 111.85. In the alternative scenario, short positions are recommended with the first target at 110.50 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 110.15. The pivot point is at 110.75.

Resistance levels: 111.50, 111.85, and 112.15

Support levels: 110.50, 110.15, and 109.75

The material has been provided by InstaForex Company – www.instaforex.com

The post Technical analysis of USD/JPY for March 30, 2017 appeared first on forexnewstoday.net.

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Technical analysis of USD/JPY for March 30, 2017

USDJPYM30.png

USD/JPY is expected to trade with bullish outlook. The pair broke above its 20-period and 50-period moving averages and is holding on the upside. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Additionally, 110.75 is playing a key support role, which should limit the downside potential.

As long as this key level is not broken, look for a further upside toward 111.50 and even 111.85 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 111.50 and the second one at 111.85. In the alternative scenario, short positions are recommended with the first target at 110.50 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 110.15. The pivot point is at 110.75.

Resistance levels: 111.50, 111.85, and 112.15

Support levels: 110.50, 110.15, and 109.75

The material has been provided by InstaForex Company – www.instaforex.com

The post Technical analysis of USD/JPY for March 30, 2017 appeared first on forexnewstoday.net.

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