Daily chart the pair tends to rise in the area of the upper Bollinger band (1.5735). However, it has a dynamic (descending) character, plus H1 gives a purely Southern pattern, so the bulls are expected at a lower part
Í4: strong resistance from 1.5640 (the upper Bollinger Band)
Í1: Weak ADX makes us believe in strength of resistance around 1.5593-1.5600 area. However, after that we will wait when the price works on 1.5640
Expectations: 1) Growth to 1.56 and then a roll back to 1.5555 and rising to 5640 . 2) Direct growth to 1.5640 (in case of a break above 1.56)
1) Keep Buy trades to 1.5640
2) We shall put Sell Limit orders to sell from 1.5640.
January 18, 2017 Trump Inauguration Market Outlook
Friday, January 20, 2017 will mark the historic inauguration of what promises to be a highly unconventional US presidential administration...
January 17, 2017 Oil spikes higher on Saudi Oil minister comments
Oil has spiked higher on Al Falih comments in Davos (Saudi oil minister). He said during a panel discussion at WEF in Davos that there will be inflation in the cost of doing business in the oil industry, following the squeeze that accompanied the decline in crude prices...
January 16, 2017 GBP under pressure ahead of May speech
A speech from Theresa May is one of the key events for financial markets this week and certainly the most relevant for the British pound. Primie Minister is about to deliver a speech on UK’s stance and conditions ahead of the triggering article 50 and beginning the Brexit negotiations...
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.