AccentForex Market Analytics

GBP/USD Mid-term analysis for April 2017

The price broke through the upper limit of the triangle formed within the descending channel on 1D time frame graph. It may be the beginning of a trend reversal. The price fixation above 1.29 (61.8% of the Fibo correction grid) is above the upper boundary of the downlink will be that confirmation.


Resistance Levels:

1. 1.2580
2. 1.2680-1.27 (50% Fibo)
3. 1.2870-1.29 (61.8% Fibo)
4. 1.3444 (High 2016.09.06)

Support Levels:

1. 1.23
2. 1.22
3. 1.21
4. 1.1950

EUR/USD Intraday Analysis

EUR USD currency pair continues to decline within the uplink at 1H timeframe. And it has found support at the level of 1.0760.
In favor of accelerating the decline in quotations of the pair, a breakdown of the uplink support line on the RSI indicator will come out.
Support level: 1.0760-40
Resistance leve: 1.0820
Among the important news that may affect the EUR/USD rate, it is worth highlighting: Business Activity Index, Composite PMI Index, Changes in the orders volume for durable goods in the US, Index of business activity in the manufacturing sector.

Technical analysis GBP USD for March 29, 2017

For 4H time frame GBP USD works out the reversal figure "head and shoulders" on the MACD indicator.
The pair completed the growth at 1.2610 and confidently broke the bottom border of the rising channel.

Support levels at the FIBO grid (1.21 - 1.2610)
50% - 1.2360
61.8% - 1.23

If the price goes below 1.2300, probability of further decline to the March's low in 1.21 zone.

USD/CHF Technical analysis for 4H timeframe

The USD/CHF currency pair continues to grow. The resistance line on RSI indicator is breakdown. It give the possibility to test the similar line field at the price chart in the area of 1.0100.
There is no important news from Switzerland which may have an impact on the Swiss franc against the US dollar. Therefore, the currency pair is likely to continue moving within the technical picture.

EUR/USD pair analysis on April 7, 2017

The EUR/USD currency pair continues to decline and currently tightly test the support area near the level of 1.0640. It is worth waiting for an attempt of a minor correction and the continuation of quotation fall in the area below the level of 1.0560, as part of the completion of the broken downward rising trend line on the RSI indicator.
In favor of the fall is a return to the breakdown trend line on the relative indicator and a rebound from the resistance area. Canceling the option of pair further weakening will be the breakdown and fix the price above the level of 1.07.
Among the important news that can influence the EUR/USD rate, it is worth highlighting the meeting of the Eurogroup, data on unemployment in the US and NON-FARM PAYROLLS indicator. The decrease is expected from the level of 235K to 176K, which may put pressure on the US dollar.

AUD/USD Mid-term technical analysis

On the 1 Daily chart, AUD/USD currency pair has formed the figure "double top". If the price is fixed below the level of 0.7490 - 0.7440 - it will be a confirmation of the beginning of the figure projection possible development. And also it will open the potential of falling quotations in the level of 0.7300.

Resistance Levels:

1. 0.7300
2. 0.7260 (Projection of "double top" figure)
3. 0.7160 (Annual minimum)

Support Levels:

1. 0.7600
2. 0.7680
3. 0.7730

NZD/USD Mid-term Technical Analysis

The pair continues to move within the lateral trend and at the moment there is a potential for breakdown of the level of 0.71 in the framework of testing the model "Failure Swings".
After testing the level of 0.71, a rebound and a price drop below the level of 0.68 is possible as part of the resistance line test on the RSI indicator.
With the breakdown of the area of the "Triangle" lower boundary, it is expected to accelerate NZD/USD fall.
Among the important news from New Zealand this week, which may affect the NZD/USD rate, it is worth noting the "Consumer Price Index" on April 20, 2017.

USD/JPY Mid-term analysis for April 2017

On the Weekly time frame, the pair declines within the descending channel, bouncing off its upper bound 118.60. Breakdown of the uptrend line on the RSI indicator specify a possible breakdown of a similar line on the price chart. It determines the potential for USD/JPY depreciation to be at the level of 107 or lower in April 2017. The abolition of this scenario will be a confident pair growth above level of 114.
Among the important news that may have an impact on the Japanese yen rate in April 2017, it is worth to highlight: Decision on Bank of Japan interest rate on April 27, 2017 and Comments on Monetary Policy; Annual Growth of the Monetary Base and Press Conference of the Bank of Japan.

EUR/USD Technical analysis

On Daily chart, the pair found resistance at 1.0950, which is the upper limit of the rising channel and the level of 61.8% on the Fibo grid. There was a gap formed on the news data from the price of 1.07. As a rule, the market tends to close the gap in the aftermath. It gives grounds for assuming about a decline in quotations at the level of 1.07. Nearest support is at the level of 1.0820, then 1.0780. Resistance remains at the level of 1.0950.
Among the important news that can affect on EUR/USD currency pair, it is worth highlighting:

1. The publication of the ECB's decision on the principal interest rate;
2. ECB Press Conference;
3. Change in the volume of orders for durable goods in the US;
4. The number of initial applications for unemployment benefits.

GBP/USD Technical analysis

GBP/USD currency pair continues testing the resistance area and at the moment there is a potential for falling below the level of 1.2770 up to level of 1.2615, which intersects with MA 200 on the 4H time frame. In favor of falling quotations of the British currency is the breakdown of the upward trend line on the RSI indicator.
GBP/USD cancellation fall can be the strong growth and breakdown of the area of 1.2970, which will indicate the continued growth of the pair.
Among the important Britain news that can influence GBP/USD, it is worth highlighting the PMI index for the services sector, PMI Composite Index , the Volume of net loans to individuals.

GBP/USD Technical Analysis

GBP/USD currency pair has brokendown the lower boundary of the formed figure "Wedge". It is worth waiting for an attempt to continue the decline in the area below the level of 1.28. A breakdown of this level will indicate the decline continuation in the area below 1.27.
In favor of accelerating the decline is the discrepancy on RSI indicator. Variant cancellation of the quotations decline will be breakdown and fixing the price above the level of 1.3. That will indicate the probable growth continuation of GBP/USD currency pair. And the level of 1.3 will be a key support.

USD/CHF forecast for the current week

At the end of last week, USD/CHF currency pair could not continue to grow after the formation of the reversal figure "double bottom". Probably, the pair can adjust to the level of 0.9950 and after that it will resume the growth to the level of 1.03. The abolition of such scenario can be the fall and price fixing below the level of 0.98.

Support Levels:

1. 0.9950
2. 0.9800(20)
3. 0.9650

Resistance Levels:

1. 1.0100
2. 1.0160
3. 1.0300

USD\CAD Technical Analysis

The USD / CAD currency pair continues to move within the limits of the decline and at the moment there is a potential for testing the lower boundary of the rising channel, from which a rebound and another attempt at growth are likely.
In favor of continuing the growth of pair quotations will breakdown the downward trend line on RSI indicator. The cancellation of the option will be the fall of quotations below the level of 1.34, which will indicate that the pair's quotations continue to decline.
Among the important news from Canada, which can have a strong impact on the rate and volatility of Canadian dollar quotations, it is worth highlighting: The Bank of Canada's decision on the basic interest rate and the accompanying statement of the Bank of Canada.

USD/CAD Technical Analysis

As expected, USD/CAD currency pair is testing the lower border area of the rising channel. It is worth waiting for an attempt to quotes increase above the level of 1.35.
In favor of continuing the pair quotations growth is the breakdown of the downward trend line on the RSI indicator.
Expect to accelerate the growth of the pair is on the breakdown of the upper boundary of the descending local channel.
The cancellation of the pair growth will be a breakdown of the area of 1.3380, indicating that the quotes will continue to decline.

GBP/USD Technical Analysis

GBP/USD currency pair continues the growth on upward correction. At the moment, we should expect an attempt to test the level of 1.2950, where the rebound and drop in quotes are expected again.
In favor of the drop, the upper boundary test of the descending channel will perform, as well as a resistance line test on the RSI indicator. The abolition of the reduction option will be a breakdown and fixing the price above the level of 1.2960, which will indicate the continued the quotations growth.
Among the important news from the UK, which may have an impact on GBP / USD rate, it is worth highlighting:

1. The volume of net loans to individuals.

EUR/USD Technical Analysis

EUR/USD currency pair continues to trade within the main ascending channel. Testing the area 1.1140 up to 1.11 (MA200) is possible, from which the rebound of quotations is likely.
In favor of the growth of the pair will perform a tight test of the support line on the RSI indicator. It is expected to accelerate the growth of the pair with the breakdown of the local maximum level of 1.1280.
Among the important news that could affect EUR/USD rate, it is worth highlighting:

1. Publication of the ECB's decision on the basic interest rate
2. ECB Press Conference
3. The number of initial applications for unemployment benefits in the US

USD/CAD Technical Analysis

The USD / CAD currency pair continues to move within a strong fall. It is worth waiting for an attempt to test the local minimum of 1.3165 and continuing the quotations decline in the area below the level of 1.31.
In favor of the drop is the resistance line test on the RSI indicator and the line connecting the March and April local highs (red dotted line).
Cancellation of the fall in quotations will be a breakdown and fixing the price above the area of 1.3250, indicating that the pair continues to grow.

GBP/USD Technical Analysis

GBP/USD currency pair is under the pressure of bears and be able to update the local minimum area. There is a probability of a drop in the level of 1.25 and below. In favor of falling quotations GBP/USD is the resistance line test on the indicator RSI. Intermediate support is the district level 1.26.
The abolition of the fall of the pair will be the breakdown of the area of 1.2760, which indicates that the British pound continues to grow to 1.28 and above.
Among the news from Britain, which may have an impact on the GBP/USD rate, it is worth highlighting:

1. Speech of BOE Board member Christina Forbes with a speech.

I think this is really good, but who is this guy?

NZD/USD Technical Analysis

Quotations of the NZD/USD currency pair continue their upward movement near the level of 0.73, forming the "Wedge" model. Breakdown and fixing the price above its upper limit opens the way to the zone of the level of last year's high 0.7484. The nearest resistance is at the level of 1.07370. In the case of breakdown the "wedge" lower boundary, we take the levels of the Fibo grid as a reference point.
Among the important news from New Zealand, which can have a strong impact on the New Zealand Dollar exchange rate, it is worth highlighting:

1. ANZ confidence in the business environment.