2018-08-22
Overview:
The NZD/USD pair broke resistance at 0.6650 which turned into strong support yesterday. This level coincides with 50% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the upside. Accordingly, the bullish outlook remains the same as long as the EMA 100 is pointing to the uptrend. This suggests that the pair will probably go above the daily pivot point (0.6676) in the coming hours. The NZD/USD pair will demonstrate strength following a breakout of the high at 0.9958. Consequently, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.6676 with the first target at 0.6712. Then, the pair is likely to begin an ascending movement to 0.6733 mark and further to 0.6759 levels. The level of 0.6759 will act as strong resistance, because the double top is already set at 0.6759. On the other hand, the daily strong support is seen at 0.6624. If the NZD/USD pair is able to break out the level of 0.6624, the market will decline further to 0.6541 (double bottom).
EUR/USD analysis for August 22, 2018
2018-08-22
Recently, the EUR/USD pair has been trading sideways at the price of 1.1575. According to the M30 time – frame, I found that price is trading in the well-defined upward regression channel, which is a sign that buyers are in control. I also found the breakout of the supply trendline and rejection of the daily pivot (1.1549), which are signs that selling looks risky. My advice is to watch for buying opportunities with targets at the price of 1.1625 (pivot cluster) and 1.1670 (pivot R2)
Resistance levels:
R1: 1.1620
R2: 1.1670
R3: 1.1740
Support levels:
S1: 1.1450
S2: 1.1428
S3: 1.1378
Trading recommendations for today: watch for potential buying opportunities.
Technical analysis of USD/CAD for August 22, 2018
2018-08-22
The NZD/USD pair broke resistance at 0.6650 which turned into strong support yesterday. This level coincides with 50% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the upside. Accordingly, the bullish outlook remains the same as long as the EMA 100 is pointing to the uptrend. This suggests that the pair will probably go above the daily pivot point (0.6676) in the coming hours. The NZD/USD pair will demonstrate strength following a breakout of the high at 0.9958. Consequently, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.6676 with the first target at 0.6712. Then, the pair is likely to begin an ascending movement to 0.6733 mark and further to 0.6759 levels. The level of 0.6759 will act as strong resistance, because the double top is already set at 0.6759. On the other hand, the daily strong support is seen at 0.6624. If the NZD/USD pair is able to break out the level of 0.6624, the market will decline further to 0.6541 (double bottom).
EUR/USD analysis for August 22, 2018
2018-08-22
Recently, the EUR/USD pair has been trading sideways at the price of 1.1575. According to the M30 time – frame, I found that price is trading in the well-defined upward regression channel, which is a sign that buyers are in control. I also found the breakout of the supply trendline and rejection of the daily pivot (1.1549), which are signs that selling looks risky. My advice is to watch for buying opportunities with targets at the price of 1.1625 (pivot cluster) and 1.1670 (pivot R2)
Resistance levels:
R1: 1.1620
R2: 1.1670
R3: 1.1740
Support levels:
S1: 1.1450
S2: 1.1428
S3: 1.1378
Trading recommendations for today: watch for potential buying opportunities.
Technical analysis of USD/CAD for August 22, 2018
2018-08-22
Overview:
Pivot: 1.3048.
The USD/CAD pair continues to move downwards from the levels of 1.3094 and 1.3048. The pair dropped from the level of 1.3094 to the bottom around 1.3018 then set around the spot of 1.3080. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3094 and 1.2974; for that, we expect a range of 120 pips (1.3094 - 1.2974). If the USD/CAD pair fails to break through the minor resistance level of 1.3094 , the market will decline further to 1.3048. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.2974 with a view to testing the daily major support. However, if a breakout takes place at the resistance level of 1.3132, then this scenario may become invalidated.
GBP/USD analysis for August 22, 2018
2018-08-22
Recently, the GBP/USD has been trading sideways at the price of 1.2890. According to the M30 time frame, I found that price is trading in the well defined upward regression channel, which is a sign that buyers are in control. I also found a rejection from the daily pivot (1.2872) and oversold condition on the stochastic oscillator, which are signs of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.2923 (yesterday's high), 1.2950 (R1) and at the price of 1.300 (R2).
Resistance levels:
R1: 1.2952
R2: 1.3004
R3: 1.3084
Support levels:
S1: 1.2820
S2: 1.2740
S3: 1.2688
Trading recommendations for today: watch for potential buying opportunities.
Pivot: 1.3048.
The USD/CAD pair continues to move downwards from the levels of 1.3094 and 1.3048. The pair dropped from the level of 1.3094 to the bottom around 1.3018 then set around the spot of 1.3080. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3094 and 1.2974; for that, we expect a range of 120 pips (1.3094 - 1.2974). If the USD/CAD pair fails to break through the minor resistance level of 1.3094 , the market will decline further to 1.3048. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.2974 with a view to testing the daily major support. However, if a breakout takes place at the resistance level of 1.3132, then this scenario may become invalidated.
GBP/USD analysis for August 22, 2018
2018-08-22
Recently, the GBP/USD has been trading sideways at the price of 1.2890. According to the M30 time frame, I found that price is trading in the well defined upward regression channel, which is a sign that buyers are in control. I also found a rejection from the daily pivot (1.2872) and oversold condition on the stochastic oscillator, which are signs of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.2923 (yesterday's high), 1.2950 (R1) and at the price of 1.300 (R2).
Resistance levels:
R1: 1.2952
R2: 1.3004
R3: 1.3084
Support levels:
S1: 1.2820
S2: 1.2740
S3: 1.2688
Trading recommendations for today: watch for potential buying opportunities.
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