2018-07-25
EUR/JPY is seeing strong support at 129.66 (Fibonacci retracement, Fibonacci extension, ascending support) and a strong bounce could occur at this level to push prices all the way up to our profit target level at 131.95 (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above 4.7% where a corresponding bounce could occur and push prices up.
EUR/JPY is seeing strong support and has a high potential for a bounce.
Buy above 129.66. Set stop loss at 128.53 and take profit at 131.95.
Technical analysis of GBP/USD for July 25, 2018
2018-07-25
Overview:
The GBP/USD pair bullish trend from the support levels of 1.3056 and 1.3115 on the one-hour chart. The price is currently in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 1.3115, which coincides with daily pivot point. Consequently, the first support is set at the level of 1.3115. So, the market is likely to show signs of a bullish trend around the spot of 1.3115. In other words, buy orders are recommended above the pivot (1.3115) with the first target at the level of 1.3209. Furthermore, if the trend is able to breakout through the first resistance level of 1.3209. We should see the pair climbing towards the double top (1.3362) to test it in the long term. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.3056.
Technical analysis of AUD/USD for July 25, 2018
2018-07-25
Overview:The major resistance is seen at the level of 0.7474 (38.2% of Fibonacci). The AUD/USD pair fell from the level of 0.7474 towards 0.7348. But, the price rebounded from the bottom of 0.7348 to trade around the spot of 0.7474 again. The resistance is seen at the levels of 0.7474, 0.7513 and 0.7554. Moreover, the price area of 0.7474/0.7513 remains a significant resistance zone. Therefore, there is a possibility that the AUD/USD pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, amid the previous events, the price is still moving between the levels of 0.7474 and 0.7257. If the AUD/USD pair fails to break through the resistance level of 0.7474, the market will decline further to 0.7302 as the first target. This would suggest the bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.7257 so as to test the daily support 3. On the other hand, if a breakout takes place at the resistance level of 0.7550, then this scenario may become invalidated.
Get Bonus No Deposite in your Trading Account now and add this currency pair to your forex portfolio, enjoy your trading with us!
No comments:
Post a Comment