Volatility in the pair AUD/USD was high: Analysis and forecast for May 05, 2015

5 May, 2015

Current trend
Last week, volatility in the pair AUD/USD was high.  At the beginning of the week the pair had grown and reached the level of 0.8075. However, the pair failed to break through the resistance level, and it gave the “bears” a chance to quickly win back lost positions. After that the USD has been growing and by the end of the week the price reached the level of 0.7875. It became known today that the Bank of Australia has decreased interest rate to 2.0%. Market’s reaction to this news was ambiguous. At first the price went down to the level of 0.779; however, later it rose up to 0.7910.

Following the minor correction the pair has consolidated above the level of 0.7875, which coincides with Fibonacci retracement of 61.8%. It is also a strong support level. The “bulls” will try to maintain existing pace and will make an attempt to push the price higher up to the level of 0.7910. The “bears” will aim at breaking down and consolidation above the level of 0.7875.

Support and resistance
Resistance levels: 0.7910, 0.7950 and 0.8000.
Support levels: 0.7875, 0.7850, 0.7840 and 0.7825. The level of 0.7875 is the key level of the “bears”.

Trading tips
Short positions can be opened below the level of 0.7865 and from the level of 0.7950. Buy positions are recommended if the price breaks down the level of 0.7960.

S&P500: Bearish sentiments are strong in the market

US stock indices went up on Wednesday after the release of the minutes of the US Fed meeting in January, which was devoted to the US monetary policy. Dow Jones Industrial Average rose by 1.6%, Nasdaq Composite - by 2.2%.

Weekly review for February 15-19, 2016

Past week was marked by a two-day speech of Janet Yellen, the head of the US Fed. Mrs. Yellen did not give a straightforward answer regarding the interest rate increase at the US Fed meeting in March...

XAU/USD: gold is growing on February 12, 2016

On Thursday, the price of gold strengthened by 4% and reached its year highs. The price has been growing amid an increase in demand for safe-haven assets, such as gold and the Yen...


Brent: oil reserves and oil prices have reduced

Yesterday, US Ministry of Energy announced about unexpected decline of oil and oil products reserves by 754 million barrels over the last week. Spot-price of crude oil Brent has grown over 31.80 USD per barrel...

Yen has broken down and consolidated below support level

Over the past 2 weeks the Yen has significantly strengthened its positions against the USD due to the increasing demand for the safe-haven currency. Mixed macro-economic data on the US economy has decreased a chance that the US Fed will tighten monetary policy...

EUR/USD has grown against the USD breaking down strong resistance level

The currency pair is traded at the strong level of 1.0960 –1.1060. In case of maintenance and testing of the level and respective confirmation (for example, a pattern Price Action), we recommend to open long positions. Stop order can be placed below the signal line...


EUR/USD review of the week: USD fell against the major currencies

Despite that fact that the data on Non-FarmPayRolls was below the forecast (151 000 against the forecast of 190 000 and 262 000 new jobs in December), the USD has grown against the major currencies. The rise was caused by the other data on the US labor market in January...

Brent: completion increases on February 05, 2016

While market participants are waiting for the release of NFPR (Non-Farm PayRolls), oil prices are gradually declining since the opening of the trading day and at the beginning of the European session...

Brent: will oil market swing back to pessimism?

API (American Petroleum Institute) report, released this Tuesday, showed that last week US oil stocks rose by 3.8 million barrels. Obviously, it was a bad news for oil prices, as heavy stocks of oil in the USA creates situation when supply outruns demand in the world market...

  


Share: