2017-12-14
Overview:
The NZD/USD pair will continue to rise from the level of 0.6948. The support is found at the level of 0.6948, which represents the 61.8% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 0.6948, while immediate resistance is seen at 0.7026. Accordingly, the NZD/USD pair is showing signs of strength following a breakout of a high at 0.6948. So, buy above the level of 0.6948 with the first target at 0.7026 in order to test the daily resistance 1. Also, the level of 0.7026 is a good place to take profit because it will form a double top. Amid the previous events, the pair is still in an uptrend; for that we expect the NZDUSD pair to climb from 0.7026 to 0.7065 today. At the same time, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.6948, a further decline to 0.6822 can occur, which would indicate a bearish market.
Technical analysis of USD/CHF for December 14, 2017
2017-12-14
Technical analysis of USD/CHF for December 14, 2017
2017-12-14
Overview:
Pivot point : 0.9921.
The USD/CHF pair didn't make any significant movements for that the price is still moving around the area of 0.9806 and 0.9921. Besides, it should be noted that the bias remains bullish in the nearest term testing 1.0037 or higher. The USD/CHF pair continues to move upwards from the level of 0.9806. Last week, the pair rose from the level of 0.9806 to the top around the area of 0.9921 (pivot). Today, the first resistance level is seen at 0.9972 followed by 1.0037, while daily support 1 is seen at 0.9886. According to the previous events, the USD/CHF pair is still moving between the levels of 0.9886 and 1.0037; for that, we expect a range of 150 pips. If the USD/CHF pair fails to break through the support level of 0.9886, the market will rise further to 0.9972. This would suggest a bullish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to climb higher towards at least 1.0037 with a view to testing the double top. Briefly, the major support is seen at the price of 0.9806. So, it will be very useful to buy above the spot of 0.9806 with the targets of 0.9921 and 1.0037. On the other hand, if a breakout takes place at the support level of 0.9800, then this scenario may become invalidated.
Analysis of EURUSD 14.12.2017
Written by: PaxForex analytics dept - Thursday, 14 December 2017
The USD/CHF pair didn't make any significant movements for that the price is still moving around the area of 0.9806 and 0.9921. Besides, it should be noted that the bias remains bullish in the nearest term testing 1.0037 or higher. The USD/CHF pair continues to move upwards from the level of 0.9806. Last week, the pair rose from the level of 0.9806 to the top around the area of 0.9921 (pivot). Today, the first resistance level is seen at 0.9972 followed by 1.0037, while daily support 1 is seen at 0.9886. According to the previous events, the USD/CHF pair is still moving between the levels of 0.9886 and 1.0037; for that, we expect a range of 150 pips. If the USD/CHF pair fails to break through the support level of 0.9886, the market will rise further to 0.9972. This would suggest a bullish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to climb higher towards at least 1.0037 with a view to testing the double top. Briefly, the major support is seen at the price of 0.9806. So, it will be very useful to buy above the spot of 0.9806 with the targets of 0.9921 and 1.0037. On the other hand, if a breakout takes place at the support level of 0.9800, then this scenario may become invalidated.
Analysis of EURUSD 14.12.2017
Written by: PaxForex analytics dept - Thursday, 14 December 2017
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero line.
The oscillator Force Index is above the zero line.
If the level of resistance is broken, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.1845
• Take Profit Level: 1.1930 (85 pips)
If the price rebound from resistance level, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1800
• Take Profit Level: 1.1740 (60 pips)
GOLD
Possible long position at the breakout of the level 1259.00
USDJPY
Possible short position in the breakdown of the level 112.40
USDCHF
Possible short position in the breakdown of the level 0.9830
GBPUSD
Possible long position at the breakout of the level 1.3450
The MACD histogram is above the zero line.
The oscillator Force Index is above the zero line.
If the level of resistance is broken, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.1845
• Take Profit Level: 1.1930 (85 pips)
If the price rebound from resistance level, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1800
• Take Profit Level: 1.1740 (60 pips)
GOLD
Possible long position at the breakout of the level 1259.00
USDJPY
Possible short position in the breakdown of the level 112.40
USDCHF
Possible short position in the breakdown of the level 0.9830
GBPUSD
Possible long position at the breakout of the level 1.3450
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