LiteForex - Forex Market Analysiss

On the 4-hour chart, the pair is trading near the level of 15.32 (23.6% correction). The price is supported by the 38.2% fan line, directed up, and the level of 15.05 (38.2% correction)...

Since the beginning of this week, the pair continues strengthening amid some reduction in anxiety on the market. The Dollar was supported by data on Retail Sales that came out in the US on Friday. In January, the index grew by 0.2% that was slightly better than forecasts of economists...

Since the middle of the previous week, the price of Brent crude oil continues growing amid weakness of the US Dollar. In addition, the price is supported by expectations of the reduction in output by major world producers...

On the daily chart, the pair is trading just above the lower MA of Bollinger Bands. The price remains below the EMA130, EMA65 and EMA14, all directed down. The RSI is failing to break out from the oversold zone as it tested its resistance at 32 mark two times last week...

On Thursday, the price of gold fell to its 5-year lows. The Bearish trend accelerated amid macroeconomic statistics form the US than strengthened expectations of an interest rates hike on the US in December...

The price remains under pressure amid strengthening US Dollar that was significantly supported after the publication of strong NFPR data in the US that substantially increased chances of an interest rate hike in December...

On the 4-hour chart, the price is trading in the area of 48.10 which is seen as a particularly strong level as 23.6% Fibonacci both for the short-term and medium-term trends have concentrated in the area of 48.10-47.80...

At the end of last week, the price of Brent crude oil strengthened moderately, being supported by the weakness of the US dollar which failed to hold its positions, gained after the recent Fed meeting...

Last week the price of gold significantly grew. The pair remains under pressure amid concerns on the markets that the Fed will refrain from an interest rate increase before the end of the year...

The XAU/USD pair continues growing amid uncertainty over the timing of an increase in US interest rates. Thus, statements concerning a forthcoming hike gave way to worries over a slowdown in global economy and comments on the need for new anti-crisis measures...

Last week, the price of Brent crude oil strengthened to its previous local highs amid the weakness of the US currency. Moreover, the oil market reacts positively to the escalation of the Syrian conflict which raises the risks of supply disruptions in the long term...

Last week the price of Brent crude oil barely changed. Oil was supported by poor macroeconomic data from the US and amid conflict developing in Syria...

After a continuous fall during last week, on Friday the pair strengthened amid poor macroeconomic statistics on consumer inflation from Japan. The Tokyo Consumer Price Index in September fell by 0.1% against a growth by 0.1% last month...

Yesterday the US Dollar was strengthening across the market, while the Pound was falling and in the GBP/USD pair, it lost almost 120 points...

The price of gold is growing to local highs amid the weakness of the USD, which failed to gain any support from the Federal Reserve. At the same time, there are no surprises that the Regulator decided to keep US interest rates unchanged...

After a significant fall at the beginning of the week, on Tuesday the price if Brent crude oil grew slightly. Oil is gradually recovering amid looming publication of the Fed's meeting on Thursday...

Assumingly, a development of wave C within the second wave 2 of the senior level continues. Locally, a correction in the second wave (ii) in a shape of a zigzag seems to have finished...

Assumingly, a large bear correction in a form of the fourth wave (4) continues developing. Locally, the first wave A of (4) seems to be forming, within which an upward correction as wave b of A is developing...

Assumingly, a formation of a zigzag within the second wave ii of 3 has finished. Locally, a formation of the first wave of the junior level (i) seems to have started. If the assumption is correct, the pair continues growing towards 1.1500-1.1700...

On Tuesday, the price of Brent crude oil resumed its growth after a recent decline. The price was supported by rising EU stock indexes and macroeconomic releases, indicating the faster-than-expected pace of the European economic growth...

On Wednesday, the price of Brent crude oil fell to new lows at $47 per barrel amid the latest oil reserves data from the US. According to the EIA Crude Oil Stocks Change, oil reserves for the last week grew by 2.6 million barrels, while were forecasted to fall by 0.7 million barrels...

Assumingly, the third wave of the senior level 3 is forming. Locally, the first wave i of 3 in a shape of a diagonal seems to be forming. If the assumption is correct the growth towards 1.1300, 1.1400 continues after a small correction. A critical for this scenario is the level of 1.0840, the breakdown of which would allow the pair to fall to 1.0700...

According to International Energy Agency, in 2016 the oil market will be oversupplied. Nevertheless, exporting countries will be increasing their crude oil output in attempt to compensate for the lowering prices. OPEC oil supply is projected to grow by 800K bpd, led by high output from Iraq, Angola and Saudi Arabia...

Assumingly, the third wave of the senior level 3 is forming. Locally, the first (i) and second (ii) waves of the junior level seemed to have formed. If the assumption is correct, the pair continues growing towards 1.1200, 1.1400. A critical for this scenario is the level of 1.0840...

Assumingly, the "bearish" correction of the senior level within the wave 2, which currently has the form of a zigzag, has formed. Locally, as it seems, a small starting impetus has formed; and, if the assumption is correct, after the correction the pair will continue growing towards 1.1200-1.1400...

The Euro remains under the pressure amid general public opposing mood in Greece and poor macroeconomic indicators from the eurozone. There are no important publications affecting the Euro this week...

Assumingly, a formation of the third wave of the senior level iii of 5 is finishing. Locally, as it seems, the fifth wave of the junior level is finishing. If the assumption is correct, expect the decline within the correction towards 1.2800-1.2700. The critical for this scenario is the level of 1.2114...

Presumably, a development of wave C of 2 within an upward bear correction of the senior level continues. At present, the formation of the local correction in a form of wave ii of C is finished and the formation of the third wave started, within which wave (ii) of iii is forming...

The euro keeps falling against the US dollar. Yesterday the European currency lost more than 50 points and currently the pair is trading at 1.0925...

The European currency continued to decline, and, apparently, the correction of the senior level within the wave 2 is forming. Locally, supposedly, the zigzag within the first wave a of 2 has finished, and a wave b of 2 towards 1.1200 has started to form...