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Forex analysis review:

Materials presented in the “Forex analysis” section are provided by the international broker InstaForex. The section is regularly updated with the latest news, trends and forecasts provided by the professional analysts of InstaForex Company. Articles, market outlook and the current trend reviews are written with the help of fundamental, fractal, wave and technical analysis.

Without author
2015-07-07 20:40:18 GMT+00 8 Hours, 28 Minutes ago
USD/JPY is expected to consolidate after hitting the six-week low of 121.72 on Monday. It is undermined by the flows to the safe-haven yen amid diminished investor risk appetite as fears mount over eventual Greece's exit from the eurozone. Sunday's referendum showed 61.3% of Greek voters rejected austerity terms demanded by creditors in exchange for further aid. Monday's sell-offs in many riskier assets were not as large as many investors had feared. USD/JPY is also weighed by the lower US Treasury yields (10-year fell 10.0 bps to 2.290% Monday) and Japan's exports. But USD/JPY downside is limited by the demand from the Japanese importers and the Bank of Japan's ultra-loose monetary policy.
Without author
2015-07-07 20:36:45 GMT+00 8 Hours, 31 Minutes ago
USD/CHF is expected to consolidate in a lower range. It is undermined by the franc demand on the soft EUR/CHF cross and higher-than-expected Switzerland June CPI of +0.1% on-month, -1.0% on-year (versus forecast -0.1% on-month, -1.2% on-year). But USD/CHF losses are tempered by the threat of the Swiss National Bank to carry out CHF-selling intervention and the negative Swiss interest rates.
Without author
2015-07-07 20:30:07 GMT+00 8 Hours, 38 Minutes ago
GBP/JPY is expected to trade in a lower range. It is undermined by the ongoing Greece's crisis and Japan's exports. But GBP/JPY downside is limited by the demand from the Japanese importers.
Without author
2015-07-07 20:26:06 GMT+00 8 Hours, 42 Minutes ago
NZD/USD is expected to consolidate with bearish bias after hitting the five-year low of 0.6640 on Monday. It is undermined by the decreased investor risk appetite amid mounting concerns that Greece may leave the eurozone, soft dairy prices, and divergent monetary policy stances of the Reserve Bank of New Zealand and the US Federal Reserve. The New Zealand Q2 NZIER quarterly survey of business opinion showing a net 7% of firms now expects business conditions to improve over the next six months, down from 20% in the first quarter.
2015-07-07 19:21:36 GMT+00 9 Hours, 46 Minutes ago
An extensive bullish movement is currently being expressed on the chart. An overbought state is being manifested on the charts (breaching of the upper limit of the weekly channel). Persistence above the level of 1.2400 enhanced a quick bullish movement towards 1.2570 (the previous weekly closure level) and 1.2770 which is being tested today. The price zone of 1.2740-1.2770 should be defended by bears (the upper limit of the weekly channel as well as 100% Fibonacci Expansion level of the most recent bullish move).
2015-07-07 19:01:26 GMT+00 10 Hours, 6 Minutes ago
EUR/USD bulls must keep trading above 1.1000, so further bullish advancement can be achieved. Initial bullish target would be located at 1.1150 and 1.1300 (a prominent supply level to be watched). On the other hand, a daily closure below the level of 1.0980 (already taking place) hinders an ongoing bullish scenario enabling a quick bearish decline towards 1.0850 and 1.0700 to take place. That's why the current candlestick closure should be monitored by the end of the day to determine the next destination of the pair.
2015-07-07 18:51:47 GMT+00 10 Hours, 16 Minutes ago
The level of 1.5550 acts as a significant demand level (corresponding to 50% Fibonacci level and a previous prominent top). However, the bearish daily closure below 1.5500 is an early sign to exit the previously mentioned buy entries with small losses (without waiting for the weekly closure). Price levels of 1.5300 and 1.5200 are now exposed to be visited as long as GBP/USD bears keep pushing the pair below the zone of 1.5500-1.5550.
Without author
2015-07-07 17:45:41 GMT+00 11 Hours, 22 Minutes ago
Strong resistance at the price of 1.6615 was held successfully again. Buying EUR/NZD looks risky. My advice is to watch for potential selling opportunities. Support levels are at the prices of 1.6400 and 1.6350.
Without author
2015-07-07 17:16:59 GMT+00 11 Hours, 51 Minutes ago
Sideways market with low volume on the market. Support at the price of $1,162.00 is on the test. Be careful when trading gold at this stage since we can observe that support on the test.
Without author
2015-07-07 16:38:09 GMT+00 12 Hours, 30 Minutes ago
The resistance of USD/CAD is set at the level of 1.2828; therefore, bears are going to sell below 1.2834, because there is a double top at the price of 1.2834. So it should be also noted that the resistance is at the level of 1.2828. In the short term, it is recommended to sell during the correction and open short trades below 1.2834 with targets at 1.2690. By the way, the trend will call for a bullish market at the level of 1.2573, there is a bullish channel. Additionally, an upside momentum is rather convincing and the structure of the rise does not look corrective.

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