We remain bearish below 1.0268 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 1.0200 resistance (Fibonacci projection, Fibonacci retracement, horizontal overlap support).Stochastic (21,5,3) is seeing descen…
We are bearish on EURJPY below 122.85 resistance (Fibonacci retracement, horizontal resistance) as we expect a push down towards the 121.26 support level (Fibonacci retracement, Fibonacci projection).RSI (34) has made a pullback to our resistance line …
USDX still remains well supported above the 200 SMA at H1 chart, as the demand zone of 102.56 continues to provide strong bottom across the board. The index is looking for a significative catalyst in order to crawl up or plunge, whichever could be the …
Following Christmas holidays, GBP/USD started the last week of the year with a bearish consolidation, as the price remains below the 200 SMA at H1 chart. Currently, it’s finding demand around the 1.2250 zone, where a breakout lower should open the door…
EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly
from Wednesday. Overall, the bias is bearish, which means that the current
bullish attempt is an opportunity to go short at better prices. The support
lines at 1.0400 and 1.0350 could still be reached.
USD/CHF: This pair is currently
consolidating and it is quite choppy right now. However, the recent outlook is
bullish and as long as price is above the psychological level at 1.0000. This
is something that may hold for the rest of this year, for further bullish
movement is a logical possibility.
GBP/USD: This pair came down 200
pips this week. Now below the distribution territory at 1.2300. There is a
Bearish Confirmation Pattern in the chart and the accumulation territories at
1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not
recommended in this market at this period.
USD/JPY: This market has become flat
since last week and there is no directional movement in the near term. Right
now, it is OK to stay away from the market because there are mixed signals in
it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14
is giving a bearish indication. Soon, the indicators would begin to give
signals in the same direction.
EUR/JPY went flat throughout last week. However, a closer look at the market
reveals that bulls are intent on pushing price higher. So when momentum returns
to the market, it might push price toward north. The supply zones at 123.00,
123.50 and 124.00 might be reached soon.
The material has been provided by InstaForex Company – www.instaforex.com
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Global macro overview for 23/12/2016:The German Gfk Consumer Climate data was released today and it was just slightly better than market participants expected. The Gfk index was at the level of 9.9 points, while the expectations were 9.8 points, unchan…
General overview for 23/12/2016:The market is trading around the weekly pivot resistace at the level of 1.3505. The level of 1.3433 will act as an intraday support now as the market approaches the resistance level. Pay attention to the growing bearish …
General overview for 23/12/2016:The top for the wave d (green) might be in place and now the market is trying to develop the wave e (green) of a triangle pattern. Break below the intraday support at the level of 122.79 will lead to the immediate test o…