2018-09-11
EUR/USD has moved back above 1.16-1.1620 towards major short-term resistance at 1.1660 but sellers appeared once again and are putting pressure on the pair. Another rejection at 1.1660 is not a bullish sign. On the other hand, as long as bulls respect and defend the 1.1540 neckline support they are safe. A break below the neckline will activate the Head and Shoulders pattern.
Orange rectangle - resistance area
Blue horizontal line - neckline support
EUR/USD has reached 1.1644 only to get rejected. So far the 4 hour candle is bearish with a long upper tail. If bulls manage to break above the recent high it will be a bullish sign that will increase the chances of challenging and breaking above the 1.1660 resistance. Support is at 1.1590. A 4-hour close below this area will be a sign of weakness, implying a move towards the neckline support at 1.1540 is coming.
Technical analysis of Gold for September 11, 2018
2018-09-11
The Gold price remains inside the bearish channel. Gold is in a consolidation stage relieving some oversold conditions. It is most probable that the entire decline from $1,365 is not yet finished and we should expect one more leg lower towards $1,100.
Blue lines - bearish channel
So far the Gold price action has shown no sign of a bigger trend reversal. The Gold price is trading around $1,200 level unable to break above and out of the bearish channel. The trend remains bearish in the Daily chart and a break below $1,180 will signal that the next leg lower has started. Short-term resistance is at $1,205-10 and if broken we could see a bigger bounce in Gold prices towards $1,220-30 area.
Technical analysis of USD/CHF for September 11, 2018
2018-09-11
Overview:
The market is still trading above the weekly pivot point (0.9689). It continued to move downwards from the level of 0.9689 to the bottom around 0.9651. Today, the first resistance level is seen at 0.9728 followed by 0.9776, while daily support 1 is seen at 0.9651. The USD/CHF pair broke support which turned to strong resistance at 0.9776. Right now, the pair is trading below this level. It is likely to trade in a lower range as long as it remains below the support (0.9698) which is expected to act as major support today. This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the USD/CHF pair is still moving between the levels of 0.9689 and 0.9600, so we expect a range of 89 pips in coming hours. Therefore, the major resistance can be found at 0.9728 providing a clear signal to sell with a target seen at 0.9651. If the trend breaks the minor support at 0.9651, the pair will move downwards continuing the bearish trend development to the level of 0.9600 in order to test the daily support 2. Overall, we still prefer the bearish scenario which suggests that the pair will stay below the spot of 0.9728 today.
Technical analysis of EUR/USD for September 11, 2018
2018-09-11
NZD/USD Intraday technical levels and trading recommendations for September 11, 2018
2018-09-11
In April, bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed quick bearish decline 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 (0.6840-0.6700) was executed. This allowed the recent 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 were manifested around the previous weekly/monthly low around 0.6550. This allowed the recent bullish pullback towards 0.6700 to be demonstrated.
Evident bearish rejection was demonstrated around 0.6700 (broken demand-zone and backside of the broken-trend) where the current bearish decline was initiated.
Currently, the price level of 0.6550 stands as a prominent demand-level which needs to be broken-down so that further bearish decline can occur towards 0.6420.
Trade Recommendations:
Risky traders can wait for bearish persistence below 0.6550 (key-level). This offers a high-risk SELL position.
Initial T/P should be placed around 0.6420 (Fibonacci Expansion 100%) while S/L should be placed above 0.6600.
Intraday technical levels and trading recommendations for EUR/USD for September 11, 2018
2018-09-11
The EUR/USD pair is currently trapped between the depicted technical levels (1.1750 - 1.1500). Breakout movement should be anticipated.
The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.
Bearish breakdown of 1.1520 is needed to allow further bearish decline towards 1.1420. Next bearish target would be located around 1.1275.
Intraday technical levels and trading recommendations for GBP/USD for September 11, 2018
2018-09-11
The recent bearish movement of the GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800
The GBP/USD pair is currently testing the depicted downtrend line which comes to meet the pair around 1.3025-1.3090.
This price zone (1.3025-1.3090) corresponds to 50% and 61.8% Fibonacci levels where evident bearish rejection should be anticipated.
As long as sings of bearish rejection are demonstrated below 1.3020 (50% Fibo level), the short-term outlook remains bearish towards 1.2840 and 1.2780.
On the other hand, successful bullish breakout above 1.3090 will probably hinder the current bearish movement allowing further bullish advancement to occur towards 1.3200, 1.3250 and 1.3315.
GBP/USD analysis for September 11, 2018
2018-09-11
Recently, the GBP/USD pair has been trading sideways at the price of 1.3018. Anyway, I found a fake breakout of the 2-week high at the price of 1.3042 (strong resistance), which is a sign that buying looks risky. I also found a hidden bearish divergence on the MACD oscillator and breakout of the support trendline, which is another sign of weakness. Watch for selling opportunities. The downward target is set at the price of 1.2920.
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