Daily Market Analysis from NewForex Broker

[Volfovich]

Forex News from New Forex: Technical analysis NZD/USD

The kiwi closed trades on Tuesday with a slightly bearish tendency allowing the US dollar to recover the ground after Monday. In spite of the proper bullish sentiment at the start of the Asian session, the NZ dollar has gradually eased, however, the key levels of support near 0.7090 were not hit as well as the nearest resistance at 0.7212. Currently the kiwi stays flat with some bearish sentiment.

 

[Volfovich]

Forex News from New Forex: Technical analysis EURUSD

Today in the morning the pair keeps an upward trend with a slightly bullish sentiment according to the Moving Average. The nearest levels of support-resistance are at 1.1180 and 1.1315, respectively. In case of the breach of the current resistance level the further aim is 1.1346 and there might be a rise to 1.1370. Otherwise, the market may plummet to 1.1154 and if it does not bounce off, it will go further to 1.1126.

 

[Volfovich]

Forex News from New Forex: Technical analysis EURJPY

The nearest levels of support and resistance for today are at 138.99 and 140.67, respectively. The trend is going to be with a prominent bullish sentiment aiming at 141.03 and 141.39. For short positions today it is 138.64 and 138.28.

 

[Volfovich]

Forex News from New Forex: Technical analysis USDCHF

The Swiss franc has recovered ground after its fall on June 8th paring earlier losses, today the pair is flat with the support at 0.9276 and resistance at 0.9363. However, the trend is in favor of bears with the aim at 0.9251 and if it reaches the support level successfully, it will move to 0.9229.

 

[Volfovich]

Forex News from New Forex: Technical analysis XAUUSD

In the trading on Wednesday morning gold continues to pare earlier losses of Monday when the market bumped into a strong level of support at 1169.40. The resistance at $1204 troy oz is kept on June 10th.

Both today and yesterday with some correction the market continues to grow, although a firm trend, confirmed by indicators with a potential of overcoming the current levels of support and resistance, is not currently observed. Thus, we hold off from entering the market until getting obvious firm signals.

 

[Volfovich]

Forex News from New Forex: The euro slumped against the US dollar

In the trading on Tuesday, June 16th, the euro is under pressure, negotiations between Greece and international lenders hit a dead end. Investors sit on the fence as the monetary policy report from the Fed is due to be delivered this Wednesday.

The negotiations between Greek and European officials did not lead to the agreement over the program «Cash-for-reforms» which raises concerns about the possible default of Greece and threatens the country’s future in Eurozone.

Europe demands the spending cuts worth 2 billion euros from Greece to guarantee the financial support of the country. Investors are in the anticipation of the European Finance Ministers meeting on Thursday which might be the last chance of Greece to make an agreement.

In the exchange market the euro tumbled 0.14% versus the greenback, the pair euro/dollar is at 1.1269. Meanwhile, the single currency has strengthened against the yen, the pair euro/yen is at 139.36. The US dollar demonstrates the uptrend against the yen as well, the buck gained 0.14%. The pair dollar/yen hit 123.57. The dollar index picked up 0.12% to 95.18.

 

[Volfovich]

Forex News from New Forex: Technical analysis of the currency pair EUR/USD

Currently the pair is closer to the resistance level at 1.1296 than the support level at 1.1151 which perform the high and the low of June 12th. If the market manages to breach the current level of resistance, long positions will aim for 1.1388 and 1.1469. On the flip side, if the price drops below the support level, short positions will aim for 1.1052 and 1.1013.

 

[Volfovich]

Forex News from New Forex: Technical analysis of XAU/USD

The precious metal has been declining for the second session in a row pulling back from the strong level of resistance at $1187 troy oz to the first level of support at 1177. We intend to continue following the movement start selling when the market hits 1163 and further 1143 and also on the rebound from 1192, 1196 and 1232. Trades to buy are unlikely now until the market goes beyond the strong resistance level at $1232 troy oz.

 

[Volfovich]

Forex News from New Forex: Technical analysis of AUD/USD

In the 4-hour timeframe the pair is within the nearest levels of support at 0.7770 and resistance at 0.7710 with a distinct bearish sentiment and attempts to breach the support at 0.7770. In case of its successful actions, the market will go further to 07688 and 0.7668. If it bounces off, it might return to the level of resistance at 0.7770.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/JPY

During the trading today the single currency has been strengthening. Within the last 24 hours the pair has shown a strongly marked bullish dynamics and it is testing the resistance at 139.37 aiming for 139.99 and 141.00.

 

[Volfovich]

Forex News from New Forex: Technical analysis of NZD/USD

The currency pair tests the support at 0.6960 with a distinct bearish sentiment and formed downward trend. If it breaches the nearest support level successfully, the market will slide to 0.6940 and perhaps further to 0.6920. It is recommended to buy in case of a pullback from the above mentioned levels fixing profit near the levels of resisitance at 0.7000, 0.7023 and 0.7035.

 

[Volfovich]

Forex News from New Forex: Technical analysis of USD/JPY

The currency pair is trading with a slight bearish sentiment below the first level of support at 123.32 trying to test the second one at 123.01. The further development of the bearish scenario is trades to sell at 122.40 and further to 120.60. It is preferable to enter the market with long positions from the level of support at 120.6 fixing profit closer to the level of resistance at 124.60.

 

[Volfovich]

Forex News from New Forex: Technical analysis of GBP/USD

The pair has a bullish sentiment today attempting to test the nearest resistance at 1.5950. If it manages to pass through this level successfully today, the price might go to 1.5990 and later to 1.6030. The trading instrument is highly overbought. The key resistance level for the market is the price near 1.6180 overcoming which the pound might get to 1.6520. Short positions are highly risky at the moment at least until the market holds below 1.5165.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/USD

After yesterday’s meeting of the Fed the US dollar has considerably lost ground versus the major world currencies. Now the former level of strong resistance at 1.1270 performs as the first support and the nearest level of resistance is at 1.1425. The market sentiment is closer to bullish with signs of being overbought. If 1.1386 is breached, the market might go to 1.1470 and further to 1.1530 and 1.1580. If 1.1245 is breached, short positions might move to 1.1220, 1.1190 and 1.1151.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/USD

Before the opening of the European trading session trades demonstrate a successful overcoming of the first level of resistance at 1.1377 and test the second one at 1.1405. However, a possibility of a pullback to support at 1.1267 still exists. The trend is slightly bullish. Long positions aim for 1.1434 today, in case of a pullback short positions aim for 1.1211.

 

[Volfovich]

Forex News from New Forex: Technical analysis of GBP/USD

The trading instrument keeps edging up against the US dollar. The nearest level of resistance at 1.5920 is tested with the intention to go further to 1.5960. In case of its successful breach, it aims for a psychologically significant price at 1.600 dollars for the pound.

In the tradings today the levels of support are 1.5860, 1.5820 and 1.5780. The market trend is bullish but the instrument is a bit overbought. This fact might lead to the pullback from one of the levels of resistance which can provide a good opportunity to enter the market with short positions.

 

[Volfovich]

Forex News from New Forex: Technical analysis of USD/JPY

At the closure of the Asian trading session the immediate resistance and support of the Japanese yen is seen at 122.30 and 122.90 with a distinct bearish sentiment without any clear-cut features of overbought/oversold. During the previous week the yen gained ground against the greenback which can determine a trend today. A strong psychological level of support is at 122.45 with the resistance at 124.44.

 

[Volfovich]

Forex News from New Forex: Technical analysis of XAU/USD

The market keeps a sideway trend for several trading sessions in a row without any signs of a breach. A strong resistance is at $1204 per troy oz. If the level is breached, there will be a rise to 1215 and further to $1232 per troy oz in case of a bullish trend. When the market consolidates below $1163 for the troy oz, it might be profitable to enter the market with short positions.

 

[Volfovich]

Forex News from New Forex: The greenback gains ground against the major currencies

In the trading on Tuesday, June 23, the British pound edged down versus the US dollar as uncertainty connected with the negotiations with Greece continues to put pressure on the market sentiment.

In the trading in Europe the pair dollar/pound is at 1.5764, which is a low since June 17. The possible level of support for the pair is 1.5622, a low of June 17, the level of resistance is 1.5930, a high of June 18. The pound picked up 0.74% against the euro, the pair euro/pound is at 0.7114.

The US dollar keeps strengthening as a secure currency due to several reasons. Firstly, on Monday the Finance Ministers of Greece and Eurozone did not come to a mutual agreement. Secondly, upbeat U.S. industry data provided support for the buck, it was reported that the amount of existing home sales jumped from 5.09 million in April to 5.35 million units in May.

The dollar index advanced 0.78% to 95.26, a high of June 17. The pair euro/dollar tumbled 1.06% to 1.1223. The dollar surged against the yen and the Swiss franc gaining 0.24% to 123.67 and 1.13% to 0.9318, respectively.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/USD

After a serious rally with the dollar gaining ground against the single currency, trades have a slightly bearish sentiment today with the support at 1.1044 and resistance at 1.1258. The indicator of overbought/oversold is in the neutral zone. Trades to sell are more probable in case of a pullback from the resistance at 1.1258. Long positions seem riskier as trade indicators and oscillators point to the market decline.