2018-08-21
EUR/USD is testing its resistance at 1.1523 (61.8% Fibonacci extension, 61.8% & 50% & 38.2% Fibonacci retracement, horizontal overlap resistance), where a reversal to its support at 1.1400 (61.8% Fibonacci retracement, horizontal swing low support) is expected. Stochastic (55, 5, 3) has reversed off its resistance at 97%, where a corresponding drop is expected.
EUR/USD is testing its resistance, where we expect to see a reversal.
Sell below 1.1523. Stop loss at 1.1583. Take profit at 1.1400.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom #daytrader #scalper #swingtrader #fx #currency #pips #technicalanalysis #forexmarket
AUD/USD Testing Resistance, Prepare For Reversal!
2018-08-21
AUD/USD is testing its resistance at 0.7349 (100% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap resistance), where a reversal to its support at 0.7284 (50% Fibonacci retracement, horizontal overlap support) is expected. Stochastic (55, 5, 3) has reversed off its resistance at 97%, where a corresponding drop is expected.
AUD/USD is testing its resistance, where we expect to see a reversal.
Sell below 0.7349. Stop loss at 0.7395. Take profit at 0.7284.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom #daytrader #scalper #swingtrader #fx #currency #pips #technicalanalysis #forexmarket
Technical analysis of AUD/USD for August 21, 2018
2018-08-21
Overview:
The AUD/USD pair continued to move upwards from the level of 0.7300. Since yesterday, the pair has risen from the level of 0.7299 (the level of 0.7299 coincides with the ratio of 38.2% Fibonacci Expansion) to the top around 0.7359. In consequence, the AUD/USD pair broke resistance at 0.7329, which turned into strong support at the level of 0.7329. In the H1 time frame, the level of 0.7299 is expected to act as major support today. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish market. The price is still above the moving average (100) and (50). From this point, we expect the AUD/USD pair to continue moving in the bullish trend from the support level of 0.7359 towards the target level of 0.7400. If the pair succeeds in passing through the level of 0.7400, the market will indicate the bullish opportunity above the level of 0.7400 so as to reach the second target at 0.7454 (the double top). At the same time, if the AUD/USD pair is able to break out the level of 0.7329, the market will decline further to 0.7263 (daily support 2).
Technical analysis of USD/CHF for August 21, 2018
2018-08-21
The AUD/USD pair continued to move upwards from the level of 0.7300. Since yesterday, the pair has risen from the level of 0.7299 (the level of 0.7299 coincides with the ratio of 38.2% Fibonacci Expansion) to the top around 0.7359. In consequence, the AUD/USD pair broke resistance at 0.7329, which turned into strong support at the level of 0.7329. In the H1 time frame, the level of 0.7299 is expected to act as major support today. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish market. The price is still above the moving average (100) and (50). From this point, we expect the AUD/USD pair to continue moving in the bullish trend from the support level of 0.7359 towards the target level of 0.7400. If the pair succeeds in passing through the level of 0.7400, the market will indicate the bullish opportunity above the level of 0.7400 so as to reach the second target at 0.7454 (the double top). At the same time, if the AUD/USD pair is able to break out the level of 0.7329, the market will decline further to 0.7263 (daily support 2).
Technical analysis of USD/CHF for August 21, 2018
2018-08-21
Overview:
Pivot point: 0.9857.
The USD/CHF pair is still trading above the 0.9857 pivot point of the price. The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9943, the market will indicate a bearish opportunity below the new strong resistance level of 0.9943 (the level of 0.9943 coincides with a ratio of 50% Fibonacci and 61.8%). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9943, so it would be good to sell at 0.9940 with the first target of 0.9795. It will also call for a downtrend in order to continue towards 0.9733. The daily strong support is seen at 0.9733. On the other hand, the stop loss order should always be taken into account, for that it will be reasonable to set it at the level of 1.0050.
NZD/USD Intraday technical levels and trading recommendations for August 21, 2018
2018-08-21
Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350).
A quick decline took place towards 0.6700-0.6800 where narrow ranged consolidation range was established.
On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.
However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.
On August 9, bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the current bearish decline to occur towards 0.6600-0.6570.
The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.
Recently, signs of bullish recovery are being manifested around the recent low of 0.6550. This allowed the current bullish pullback to occur.
Conservative traders should wait for a deeper bullish pullback towards 0.6700-0.6720 for a low-risk SELL entry. S/L should be placed above 0.6770.
Intraday technical levels and trading recommendations for EUR/USD for August 21, 2018
2018-08-21
Daily Outlook
In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).
The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets.
Instead, a descending high was established around 1.1800.
Currently, the EUR/USD pair is testing the price zone of 1.1450-1.1370 (demand zone) where the depicted trend lines are located on the depicted weekly chart.
As anticipated, bearish closure below 1.1400 was achieved. This allowed further bearish decline towards 1.1300.
For further bearish decline to occur, the EUR/USD pair needs obvious bearish breakdown below 1.1400. Initial bearish target would be located around 1.1275 then 1.1120 if enough bearish pressure is applied.
On the other hand, if the current bullish pullback extends above 1.1520, further bullish advancement should be expected towards 1.1700.
Pivot point: 0.9857.
The USD/CHF pair is still trading above the 0.9857 pivot point of the price. The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9943, the market will indicate a bearish opportunity below the new strong resistance level of 0.9943 (the level of 0.9943 coincides with a ratio of 50% Fibonacci and 61.8%). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9943, so it would be good to sell at 0.9940 with the first target of 0.9795. It will also call for a downtrend in order to continue towards 0.9733. The daily strong support is seen at 0.9733. On the other hand, the stop loss order should always be taken into account, for that it will be reasonable to set it at the level of 1.0050.
NZD/USD Intraday technical levels and trading recommendations for August 21, 2018
2018-08-21
Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350).
A quick decline took place towards 0.6700-0.6800 where narrow ranged consolidation range was established.
On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.
However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.
On August 9, bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the current bearish decline to occur towards 0.6600-0.6570.
The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.
Recently, signs of bullish recovery are being manifested around the recent low of 0.6550. This allowed the current bullish pullback to occur.
Conservative traders should wait for a deeper bullish pullback towards 0.6700-0.6720 for a low-risk SELL entry. S/L should be placed above 0.6770.
Intraday technical levels and trading recommendations for EUR/USD for August 21, 2018
2018-08-21
Daily Outlook
In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).
The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets.
Instead, a descending high was established around 1.1800.
Currently, the EUR/USD pair is testing the price zone of 1.1450-1.1370 (demand zone) where the depicted trend lines are located on the depicted weekly chart.
As anticipated, bearish closure below 1.1400 was achieved. This allowed further bearish decline towards 1.1300.
For further bearish decline to occur, the EUR/USD pair needs obvious bearish breakdown below 1.1400. Initial bearish target would be located around 1.1275 then 1.1120 if enough bearish pressure is applied.
On the other hand, if the current bullish pullback extends above 1.1520, further bullish advancement should be expected towards 1.1700.
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