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The EUR/JPY Review & Forecasting Uptrend




Since March 13 the EURJPY currency pair has changed the direction and became strongly down and it declined since this day till yesterday around 790 pips, so large number or big loss for the pair, but after yesterday close I think the pair finished the bleeding journey and will start rising now, so if you want to make money read all this report till the end.
Firstly, we have so strong support area and the prices gave us the buy signal let's take a look at the chart:


1. The rising wave after the Brexit on June 24 till the top on Dec 15, the pair has reached to 61.8%, and it's the golden correction percentage and expected the pair will rise from there.
the smaller rising wave from Feb 27 till March 13, the pair has reached to 161.8, the golden extension percentage.


2. The rising trend line from July 6 which the prices touched it 4 times before and rose, the prices have touched again this week and expected to rise again.


3. On the daily chart, yesterday candle is bullish engulfing candle which refers to the uptrend.


The Next Few Days


From this analysis on daily we can buy the pair now at 115.95 and keep our first target at 118.20 and the second one at 120.10 especially after we saw the RSI indicator give buy signal and rose to 37 level.
This week we don't have any hot news from the European Union or even from Japan but be careful from any unusual news can change the market direction.

EUR/SGD: fundamental review and forecast




The rates of the EUR/SGD continue to be in the frames of the downward trend. It was expected that this week volatility on the market will decrease until announcement the results of the elections in France, but yesterday the UK's Prime Minister Teresa May announced about holding of early parliamentary elections. The market reacted positively and the Pound strengthened that had an impact on the value of the EUR. The decision about early elections is perceived positively because it can remove uncertainty on the question of the Brexit. Results of the UK's elections, will show surely if they move towards the exit from the EU or, in case of victory the opponents of Brexit, will finally leave this question. Thus, investors expect from new Parliament clear political and economic course. The Singapore dollar was under the significant pressure since yesterday. Stable macroeconomic statistics were unable to change anything amid significant political events, which directly affect the future of the EU.
At the moment the oscillators Stochastics and MACD unanimous in the decision to open a short deals. After a significant price hike amid the news, the rates may continue in the frames of the downtrend. Now the rates consolidated and can go down. So, upon short term trading, the deals to SELL is the best solution. Upon medium-term trading, it is better to wait few days before the election in France. Based on that results we can obtain absolutely new value of the Euro in case of victory of Marie Le Pen, otherwise it will be strengthened for some time.


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OIL (CL/WTI): middle term review and forecast


Oil prices continue weakening but the rates are still in the frames of upward trend which began over a year ago. However, the trend is near the completion, and now on the daily chart, you can see signs of the flat trend formation, as the prices from November 2016, keep in the range of 47 - $ 54 per barrel. Support and resistance lines hadn't been broken for all the time. Uncreasing of the drilling rigs in the United States, 15 consecutive week, continue to adversely affect the price of oil. The price of oil reached a minimum level, which for 6 months has been achieved only 2 times.


On the market we can see uncertain situation: on the one hand, OPEC countries are going to continue the agreement “On the reduction of oil production”, and investors believe that it will be done at the next meeting, may 25. On the other hand, the USA abolishes all these efforts with their growth of oil production. Increasing of oil demand will unlikely resolve the issue with the overabundance of oil on the market. Amid this, long-term forecasts of some analysts, in particular experts from Citigroup (NYCE:C) about further increasing the price of oil to $ 65 in the second half of the year, does not seem probable cause oil prices are constantly under the pressure from a number of factors. This week it was the recovery of oil production in Libya, the recession of business activity in China and mentioned before, constant increasing in drilling rigs in the United States. Factors that could unambiguously support the price of oil are not enough, but the situation may change at the end of the month on the results of the OPEC meeting.


At this moment, the entry point to the market we can call the levels of 47.4 and 48.2. The most optimal for the moment we can determine the deals to BUY which can be effective to get the profit on the price correction. MACD, RSI, oscillators partially confirm this. It is most likely that after reaching a new minimum level, the price will move up. Soon investors will focus on the next OPEC meeting, and news from countries-participants of the Agreement “On the reduction of oil production”. It can slightly enhance the price of black gold in the short term.

NZD/USD: fundamental review and forecast


Situation for the NZD has not changed yet. the rates continue to be in the frames of the downward trend, though it lost its intensity. The dollar continues to strengthen against the NZD, although we can not say that the New Zealand economy is in a bad state. Despite the rising inflation, the country's economy gradually develops and demonstrates growth. However, it does not allow the New Zealand currency to hold against the strong U.S. dollar.


Last week, the dollar strengthened amid the positive statistics about unemployment and the results of the FED meeting, which decided to leave interest rate unchanged, but considering sure growth of the US economy, reducing in unemployment, they plan to do it in June if nothing changes. Therefore, the probability of a rate hike is rated as very high.


At the moment, the rates of the NZD/USD stabilized in the range of 0.688 - 0,694 USD. We can also say that these levels are also good entry points to the market. Until the next day, volatility will be low because investors are waiting for the meeting of the Federal Reserve Bank of New Zealand (RBNZ) and their decision to change the rate. Now it's 1.75%. Investors don't expect for the rate changes just because the RBNZ in March, said that they don't not plan to change the rate until the 2019. Though continued weakening of the NZD can make them to change their decision because the rate increase would strengthen the NZD.


Oscillators are neutral for the moment and in this situation, the best solution is to open the deals on the trend. We can say that also, considering that there're no any real reasons for the trend change and strengthening of the NZD in the near future. Therefore, the deals to SELL can be the most effective now, upon the short and medium-term trading.


Read more at https://superforex.com/analytics

AUD/CAD: review and forecast


The rates of the AUD/CAD continues in the frames of the upward trend. The canadian dollar remains under the pressure of low oil prices. Volatility for this currency pair remains very high. So, in early may, disappointing statistics about economy of Australia and China, have led to significant falling of the AUD value. During 1 day it has been lost 2 CAD cents. It was influence of the data about the trade balance of Australia. Investors expected the growth of the surplus to 3.4 billion while it was just 3.1 billion; also disappointed the value of the business activity index in the services sector in China.
By the end of next week, the volatility in the market can be decreased. The market don't expect any important data until next Friday. Then, the market will receive information about retail sales and consumer prices in Canada, for April. A day earlier, also expect information on employment in Australia in April. It should also be noted that this month will be the summit of the OPEC and volatility will be gradually increasing together with the oil prices. So it can strengthen the CAD because it is expected that on the upcoming summit countries-exporters will extend the agreement about Reduction of the oil extraction. Therefore, oil prices will rise for some time, but countries which didn't join the agreement, mainly the US, unlikely will let oil to rise significantly in price for a long period because if prices increase the USA increasing the volume of oil production, adversely affecting the market.
Oscillators are neutral at the moment, but considering perspectives of oil prices growth in the near future, and consequently the strengthening of the Canadian dollar, the optimal solution now is to open the deals to SELL upon medium term trading. Upon the short-term trading, it is also possible to open the deals on the trend.


Read more analytic reviews at https://superforex.com/analytics

USD/SEK – review and short term forecast.


Since the beginning of April, the rates of USD/SEK continue in the frames of the downtrend. While the U.S dollar is under the pressure due to political scandals of the administration of D. Trump and slowdown of US economic growth, the Swedish Krona continues to strengthen, and reached the best level for the last 9 months - 8.68 SEK. against the dollar. But weakening of the dollar isn't the only reason that caused the strengthening of the crown. Also impacted the end of political uncertainty in the EU, and optimal economic indicators in Sweden. Published data showed GDP growth in Sweden to 0.4 % in Q1 2017. Investors expect more significant growth at 0.9%, but given the weakening dollar, it was enough to continue strengthening.
Probably the downtrend will continue this month. The U.S. dollar, however, can be strengthened for some period. In particular, published data about employment in the US, encouraged investors, and it is stopped the weakening of the USD and consolidated the rates. According to the ADP's company report , the number of jobs created in may increased by 253 thousand, although it was expected only by 185 thousand places. Today we expect the official data from the Ministry of labour, which likely will confirm the statistics from the ADP. Good data on the labor market may influence the FED's decision to raise the rate. So investors are focused on this data and waiting for it with high attention.
Thus, in the near future, we can expect a price correction and upon short-term trading, the most effective will be the deals to Buy. The Stochastic oscillator also indicates a good time for the long trades. We can also designate the points of entry at the levels 8.671 and 8.705 SEK, breakout of which will be signalized the exit from the consolidation phase. Special attention should be paid to the level 8.671, achieving of which will be signalized about continuation of the trend, and can be a good signal to open the short deals.

NZD/JPY: fundamental review and forecast

On the NZD/JPY chart, we can see upward trend which had been formed just a month ago. Now it is becoming more intense. Especially, the Japanese yen lost in value today when the Bank of Japan revealed that they will not to change its monetary policy, keeping the stimulus program unchanged. The Bank of Japan also stated that won't raise interest rates in the foreseeable future. Although it has the reasons for the rate change and tightening of monetary policy considering that GDP growth for five consecutive quarters, good situation in labor market, despite the weak wage growth. But the Bank of Japan stated that they are not interested in strengthening of the yen because the weak yen will have a positive impact on the economy and unemployment level.
The new Zealand dollar managed to strengthen against the yen weakening. Although this week was received contradictory statistics affecting the NZD value: GDP growth was weaker than expected in both quarterly and YoY, achieving +0.5% and +2.5%, respectively. But the index of business activity PMI exceeded expectations and amounted 58.5, which is the highest level since January 2016. Also, contributed the rapid strengthening of the NZD impressive data on the employment market in Australia, which is the main trading partner of New Zealand: unemployment rate in may was 5.5% against expected 5.7% and indicator of the "Level of change in employment” was 47K in May which is in 4.7 times more than expected.

Thus, strengthening of the NZD has led to the breaking and moving of the resistance line. Oscillators MACD, Stochastics, RSI unanimously indicate that the rates are in the overbought zone at the moment. So, probability of a price correction in the near future is very high. We can only agree with that because the short deals seems would be the most effective at the moment.

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GBP/NZD Technical Outlook after the Financial Stability Report

Minutes ago we listened to BOE governor Mark Carney’s speech about the financial stability in the United Kingdom. He said that the financial stability associated with the outcomes or the results of Brexit and the consumer credit has far outpaced household income over last year, and those comments led the pound currency to decline with 20-30 pips against all major currencies and to rise back again.

Today we would discuss the GBP/NZD pair which has lost more than 1400 pips since May 22 after breaking the small channel at the top. In our last report we recommended selling the pair at 1.7960 and it achieved our targets at 1.7932 and 1.7465 for more than 490 pips.

The pair is trading now at 1.7430, close to the uptrend line which has 4 bottoms. We are waiting for another retest to buy the pair. The Stochastic indicator lines are crossed together at the level 35.

The Next Few Days

From this analysis of the daily chart we have to wait for a bullish candle at these levels or a little lower on the daily or H4 chart in order to buy the pair. We should keep our first target at 1.7765 and the second one at 1.8150, but if the prices break the trend line and settle down we have to sell the pair to the bottom 1.6830.

This week is overwhelmed with hot events like Carney’s speech tomorrow and the current account on Friday from the UK. Read more: https://superforex.com/analytics/gbp...ability-report

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