2018-09-27
Overview:
The EUR/USD pair is showing signs of strength following a breakout of the highest level of 1.1730. The level of 1.1730 coincides with 50% of Fibonacci which is expected to act as minor support today. Since the trend is above the 50% Fibonacci level, the market is still in an uptrend. But, major support is seen at the level of 1.1730. Furthermore, the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. Therefore, strong support will be found at the level of 1.1730 providing a clear signal to buy with a target seen at 1.1802. If the trend breaks the minor resistance at 1.1802, the pair will move upwards continuing the bullish trend development to the level 1.1860 in order to test the major resistance.
Technical analysis of GBP/USD for September 27, 2018
2018-09-27
The EUR/USD pair is showing signs of strength following a breakout of the highest level of 1.1730. The level of 1.1730 coincides with 50% of Fibonacci which is expected to act as minor support today. Since the trend is above the 50% Fibonacci level, the market is still in an uptrend. But, major support is seen at the level of 1.1730. Furthermore, the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. Therefore, strong support will be found at the level of 1.1730 providing a clear signal to buy with a target seen at 1.1802. If the trend breaks the minor resistance at 1.1802, the pair will move upwards continuing the bullish trend development to the level 1.1860 in order to test the major resistance.
Technical analysis of GBP/USD for September 27, 2018
2018-09-27
Overview:
The GBP/USD pair rose from the level of 1.3100 towards 1.3211 yesterday. Now, the current price is set at 1.3119. On the H4 chart, the resistance is seen at the levels of 1.3211 and 1.3298. Besides, the weekly support 1 is seen at the level of 1.3038. Today, the GBP/USD pair is continuing to move in a bullish trend from the new support level of 1.3100 (pivot), to form a bullish channel. Amid the previous events, we expect the pair to move between 1.3100 and 1.3298 in coming hours. Therefore, buy above the level of 1.3100 with the first target at 1.3211 in order to test the daily resistance 1 and further to 1.3298 (double top). Nevertheless, if the pair fails to pass through the level of 1.3298, the market will indicate a bearish opportunity below the level of 1.3298. The market will decline further to 1.3100 in order to return to the weekly pivot point. Additionally, a breakout of that target will move the pair further downwards to 1.3038.
Comment:
- The weekly pivot is seen at the level of 1.3100.
- The market is still in an uptrend. We still prefer the bullish scenario.
Technical analysis of USD/CHF for September 27, 2018
2018-09-27
The GBP/USD pair rose from the level of 1.3100 towards 1.3211 yesterday. Now, the current price is set at 1.3119. On the H4 chart, the resistance is seen at the levels of 1.3211 and 1.3298. Besides, the weekly support 1 is seen at the level of 1.3038. Today, the GBP/USD pair is continuing to move in a bullish trend from the new support level of 1.3100 (pivot), to form a bullish channel. Amid the previous events, we expect the pair to move between 1.3100 and 1.3298 in coming hours. Therefore, buy above the level of 1.3100 with the first target at 1.3211 in order to test the daily resistance 1 and further to 1.3298 (double top). Nevertheless, if the pair fails to pass through the level of 1.3298, the market will indicate a bearish opportunity below the level of 1.3298. The market will decline further to 1.3100 in order to return to the weekly pivot point. Additionally, a breakout of that target will move the pair further downwards to 1.3038.
Comment:
- The weekly pivot is seen at the level of 1.3100.
- The market is still in an uptrend. We still prefer the bullish scenario.
Technical analysis of USD/CHF for September 27, 2018
2018-09-27
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 0.9730.
EUR/USD analysis for September 27, 2018
2018-09-27
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1684. According to the M30 time – frame, I found the breakout of the descending triangle (bearish pattern), which is a sign that sellers are in control. The key support at 1.1723 retained firmly for long, but it couldn't hold today. So, my advice is to watch for selling opportunities. The projected downward target is set at the price of 1.1649.
Trading recommendations for today: watch for potential selling opportunities.
Analysis of Gold for September 27, 2018
2018-09-27
Recently, Gold has been trading downwards. The price tested the level of $1 193.95. According to the H1 time – frame, I found the breakout of the bearish flag (the end of an upward correction abc flat), which is a sign that sellers are in control. Most recently I found that a breakout of the intraday upward trendline, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of $1,190.40 and at the price of $1,187.50.
Trading recommendations for today: watch for potential selling opportunities.
Intraday technical levels and trading recommendations for EUR/USD for September 27, 2018
2018-09-27
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.
Recently, the price level of 1.1500 offered temporary bullish recovery towards 1.1750. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800.
However, the price level of 1.1520 stood as a prominent demand level where the current bullish pullback towards the price level of 1.1700 was initiated.
Last week, another bullish movement was demonstrated towards the upper limit of the price range (1.1750) which resulted in a daily shooting-star bearish candlestick reflecting early signs of bearish rejection.
On the daily chart, the EUR/USD pair remains trapped below the depicted technical levels (1.1750 - 1.1850). As for the bearish side of the market to be dominant, the pair should keep trading below 1.1750. The first bearish target would be around 1.1520.
On the other hand, conservative traders should be expecting further bullish advancement towards 1.1850 if the EUR/USD pair resumes its movement above 1.1750 (Low probability).
Intraday technical levels and trading recommendations for GBP/USD for September 27, 2018
2018-09-27
On September 13, the GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. Since then, the pair has been demonstrating a successful bullish breakout so far.
This price zone (1.3025-1.3090) also corresponds to 50% and 61.8% Fibonacci levels. Currently, this price zone turned to become a prominent demand zone to be watched for bullish price action.
However, On H4 chart, the market failed to maintain its uptrend within the depicted bullish channel on H4 chart. The lower limit of the depicted channel (which came to meet the GBP/USD pair around 1.3190) failed to offer sufficient bullish demand.
As long as the recent bullish breakout above 1.3090 (Demand level-1) is maintained on a daily basis, further bullish advancement should be expected towards 1.3300 and 1.3390 (reversal pattern final target).
On the other hand, the price level of 1.3190 now constitutes a short-term supply level (the backside of the broken bullish channel) where some bearish rejection was demonstrated as expected in previous articles.
Therefore, the GBP/USD short-term outlook remains trapped between 1.3190 (supply) and 1.3090 (demand). Breakout in either direction should be anticipated.
Moreover, any bearish decline below 1.3090 (Demand level-1) will probably invalidate the bullish scenario for the short-term. Hence, the pair would have lower targets around 1.3010 (Demand level-2).
EUR/USD analysis for September 27, 2018
2018-09-27
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1684. According to the M30 time – frame, I found the breakout of the descending triangle (bearish pattern), which is a sign that sellers are in control. The key support at 1.1723 retained firmly for long, but it couldn't hold today. So, my advice is to watch for selling opportunities. The projected downward target is set at the price of 1.1649.
Trading recommendations for today: watch for potential selling opportunities.
Analysis of Gold for September 27, 2018
2018-09-27
Recently, Gold has been trading downwards. The price tested the level of $1 193.95. According to the H1 time – frame, I found the breakout of the bearish flag (the end of an upward correction abc flat), which is a sign that sellers are in control. Most recently I found that a breakout of the intraday upward trendline, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of $1,190.40 and at the price of $1,187.50.
Trading recommendations for today: watch for potential selling opportunities.
Intraday technical levels and trading recommendations for EUR/USD for September 27, 2018
2018-09-27
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.
Recently, the price level of 1.1500 offered temporary bullish recovery towards 1.1750. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800.
However, the price level of 1.1520 stood as a prominent demand level where the current bullish pullback towards the price level of 1.1700 was initiated.
Last week, another bullish movement was demonstrated towards the upper limit of the price range (1.1750) which resulted in a daily shooting-star bearish candlestick reflecting early signs of bearish rejection.
On the daily chart, the EUR/USD pair remains trapped below the depicted technical levels (1.1750 - 1.1850). As for the bearish side of the market to be dominant, the pair should keep trading below 1.1750. The first bearish target would be around 1.1520.
On the other hand, conservative traders should be expecting further bullish advancement towards 1.1850 if the EUR/USD pair resumes its movement above 1.1750 (Low probability).
Intraday technical levels and trading recommendations for GBP/USD for September 27, 2018
2018-09-27
On September 13, the GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. Since then, the pair has been demonstrating a successful bullish breakout so far.
This price zone (1.3025-1.3090) also corresponds to 50% and 61.8% Fibonacci levels. Currently, this price zone turned to become a prominent demand zone to be watched for bullish price action.
However, On H4 chart, the market failed to maintain its uptrend within the depicted bullish channel on H4 chart. The lower limit of the depicted channel (which came to meet the GBP/USD pair around 1.3190) failed to offer sufficient bullish demand.
As long as the recent bullish breakout above 1.3090 (Demand level-1) is maintained on a daily basis, further bullish advancement should be expected towards 1.3300 and 1.3390 (reversal pattern final target).
On the other hand, the price level of 1.3190 now constitutes a short-term supply level (the backside of the broken bullish channel) where some bearish rejection was demonstrated as expected in previous articles.
Therefore, the GBP/USD short-term outlook remains trapped between 1.3190 (supply) and 1.3090 (demand). Breakout in either direction should be anticipated.
Moreover, any bearish decline below 1.3090 (Demand level-1) will probably invalidate the bullish scenario for the short-term. Hence, the pair would have lower targets around 1.3010 (Demand level-2).
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