The Bank of Russia will continue cutting the key rate this year, bringing it to
9% by the end of 2015, Danske Bank says. Monetary easing, including Thursday's
150 bps cut, will be positive for the economy and financial markets. "However,
the easing effect will not be seen in the real economy until 2016 at the
earliest even if we do not see geopolitical woes coming into the main picture,"
Danske says. The ruble is set to weaken moderately in the long run as the market
prices in further rate cuts. Danske sees the dollar rising to 61 rubles in the
short term from around 52 on Thursday.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Thursday, April 30, 2015
Forex USD/CAD Chart
Summary : Target Level : 1.2196Target Period : 3 days
Analysis :
Channel Down identified at 30-Apr-00:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.22 within the next 3 days.
Resistance Levels :
( B ) 1.2196Last resistance turning point of Channel Down.
Support Levels
( A ) 1.1945Last support turning point of Channel Down.
Analysis :
Channel Down identified at 30-Apr-00:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.22 within the next 3 days.
Resistance Levels :
( B ) 1.2196Last resistance turning point of Channel Down.
Support Levels
( A ) 1.1945Last support turning point of Channel Down.
Tuesday, April 28, 2015
GBP/USD Chart
Summary : Target Level : 1.5107Target Period : 2 days
Analysis :
Channel Up identified at 28-Apr-00:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.511 within the next 2 days.
Resistance Levels :
( B ) 1.5262Last resistance turning point of Channel Up.
Support Levels
( A ) 1.5107Last support turning point of Channel Up.
Analysis :
Channel Up identified at 28-Apr-00:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.511 within the next 2 days.
Resistance Levels :
( B ) 1.5262Last resistance turning point of Channel Up.
Support Levels
( A ) 1.5107Last support turning point of Channel Up.
Thursday, April 23, 2015
EUR/USD FX
Summary : Target Level : 1.0624Target Period : 2 days
Analysis :
Triangle has broken through the support line at 23-Apr-01:30 2015 GMT. Possible bearish price movement forecast for the next 2 days towards 1.062.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 1.0801Last resistance turning point of Triangle.
Support Levels
( A ) 1.066Last support turning point of Triangle.
Analysis :
Triangle has broken through the support line at 23-Apr-01:30 2015 GMT. Possible bearish price movement forecast for the next 2 days towards 1.062.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 1.0801Last resistance turning point of Triangle.
Support Levels
( A ) 1.066Last support turning point of Triangle.
Wednesday, April 22, 2015
AUD/JPY Forex Chart
Summary : Target Level : 93.142Target Period : 3 days
Analysis :
Ascending Triangle identified at 21-Apr-12:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 93.142 within the next 3 days.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 93.142Last resistance turning point of Ascending Triangle.
Support Levels
( A ) 91.747Last support turning point of Ascending Triangle.
Analysis :
Ascending Triangle identified at 21-Apr-12:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 93.142 within the next 3 days.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 93.142Last resistance turning point of Ascending Triangle.
Support Levels
( A ) 91.747Last support turning point of Ascending Triangle.
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