2017-12-15
Recently, USD/JPY has been trading downwards. The price tested the level of 112.03. Anyway, according to the 30M time – frame, I found a fake breakout of yesterday's low at the price of 112.06, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of strength. The price is trading below yesterday's value and my advice is to watch for potetnial buying opportunities. The upward target is set at the price of 112.75.
Resistance levels:
R1: 112.83
R2: 113.26
R3: 113.65
Support levels:
S1: 112.00
S2: 111.62
S3: 111.20
Trading recommendations for today: watch for potential buying opportunities.
Technical analysis of NZD/USD for December 15, 2017
2017-12-15
Overview:
Again, 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.
EUR/USD analysis for December 15, 2017
2017-12-15
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1764. According to the 30M time – frame, I found out that Fibonacci retracement 38.2% is on the test, which is a sign that buying looks risky. I also found a poor low from yesterday, which indicates that EUR/USD might create new low. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1750 and at the price of 1.1730.
Resistance levels:
R1: 1.1836
R2: 1.1895
R3: 1.1927
Support levels:
S1: 1.1745
S2: 1.1711
S3: 1.1652
Trading recommendations for today: watch for potential selling opportunities.
Technical analysis of USD/CHF for December 15, 2017
2017-12-15
Overview:
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.
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