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On H4 chart, the instrument could not consolidate above the strong resistance level of 0.7443. Bollinger Bands reverse upwards, and the price range expanded, which indicates the continuation of the uptrend. MACD histogram is in the positive zone with its volumes growing and keeping the buy signal. Stochastic left the overbought area having formed the sell signal.
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GBPUSD DOWN TREND NEXT MONTH
On H4 chart, there is a return of the downward dynamics after correction, and the instrument is traded between the lower and middle lines of Bollinger Bands. MACD histogram is near the zero level, and its volume is minimal, the signal line is reversing down.1.3100, 1.3080, 1.3050, 1.3025, 1.3000.
EURUSD DOWN TREND NEXT MONTH
The quantitative easing program will be completed by the end of this year, as it was planned. Thus, in the global perspective, the dollar still remains a more attractive asset for investment, given the differential in interest rates in the US and the EU.
USDJPY UP TREND NEXT MONTH
Taking the lower boundary of the ascending channel is unlikely but the instrument may unsuccessfully test the level of 110.50 once again and go to the growth stage. In the medium term, the pair can be expected at the local highs of 112.40, 113.25. The instrument can transfer into a more sloping ascending channel, but it should continue growing. Indicators on the D1 chart and above confirm the forecast: MACD shows the preservation of the high volume of short positions, and Bollinger Bands are dir…
AUDUSD UP TREND NEXT MONTH
instrument is testing the moving average of Bollinger Bands. The indicator is directed downwards and the price range reduced insignificantly which indicates further correction. MACD histogram is in the negative zone keeping the sale signal. Stochastic is approaching the oversold zone and does not give a clear signal for opening positions.Long positions may be opened above the level of 0.7425 with targets at 0.7450, 0.7485 and stop-loss at 0.7310.
USDJPY UP TREND NEXT MONTH
The growth of the pair will resume to the levels of 111.00, 111.40, and further – to the upper border of the range (112.40). Nevertheless, technical indicators indicate a high probability of a lateral channel: the volumes of long positions of MACD have significantly decreased, and the signal line tends to zero; The Bollinger bands almost in a horizontal position
GBPUSD DOWN TREND NEXT MONTH
GBP continues falling against USD. Sales of the British currency were caused by weak macroeconomic data.Housing Prices index amounted to 2% YoY, which is better than the forecast of 1.7% but is significantly worse than the value in the previous month. Consumer Confidence index remained unchanged at the level of 10.7 points. The monetary policy of the British regulator does not add optimism as well: the interest rate remained unchanged at the level of 0.5%. The asset repurchase program also remai…
EURUSD DOWN TREND NEXT MONTH
The trend stays downwards. Most likely, the pair will continue to decline but before, it can consolidate within the narrowing channel of 1.1510–1.1665. A sharp fall from the current level in case of the publication of positive US data is less likely. The main scenario is the growth from the minimum at 1.1510 to the levels of 1.1600, 1.1665 and the formation of a new downward wave with the target at 1.1430 (the strongest support level). Technical indicators confirm the forecast, MACD short positi…
GBPUSD UP TREND
GBP/USD has broken a downtrend, MACD is looking to enter the positive territory and 1.3345 level has provided support. Hence, we may see a correction to 1.3400-1.1600 1.3565 to open 1.3624