2018-10-15
Overview:
The EUR/USD pair continues to rise from the level of 1.1500 in the long term. It should be noted that the support is established at the level of 1.1497 which represents the 38.2% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of the highest level of 1.1569. So, buy above the level of 1.1569 with the first target at 1.1620 in order to test the daily resistance 2 and further to 1.1714. Also, it might be noted that the level of 1.1714 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1497/1.1500 , a further decline to 1.1422 can occur which would indicate a bearish market.
Technical analysis of AUD/USD for October 15, 2018
2018-10-15
The EUR/USD pair continues to rise from the level of 1.1500 in the long term. It should be noted that the support is established at the level of 1.1497 which represents the 38.2% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of the highest level of 1.1569. So, buy above the level of 1.1569 with the first target at 1.1620 in order to test the daily resistance 2 and further to 1.1714. Also, it might be noted that the level of 1.1714 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1497/1.1500 , a further decline to 1.1422 can occur which would indicate a bearish market.
Technical analysis of AUD/USD for October 15, 2018
2018-10-15
Overview:
Pivot: 0.7107
The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the level of 0.7107. Equally important, the AUD/USD pair is still moving around the key level at 0.7107, which represents a daily pivot in the H1 time frame at the moment. The AUD/USD pair continued to move upwards from the level of 0.7043. The pair rose from the level of 0.7043 (this level of 0.7043 coincides with the double bottom) to the top around 0.7146. In consequence, the AUD/USD pair broke resistance, which turned strong support at the level of 0.7146. The level of 0.7043 is expected to act as major support today. From this point, we expect the AUD/USD pair to continue moving in the bullish trend from the support level of 0.7043 towards the target level of 0.7146. If the pair succeeds in passing through the level of 0.7146, the market will indicate the bullish opportunity above the level of 0.7146 in order to reach the second target at 0.7179. However, if a breakout happens at the support level of 0.7043, then this scenario may be invalidated.
EUR/USD analysis for October 15, 2018
2018-10-15
Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1610. According to the H1 time – frame, I found the breakout of the bullish flag pattern in the background, which is a sign that buyers are in control. The price rejected from the Fibonacci retracement 38.2% at the price of 1.1542, this is another sign of the strength. My advice is to watch for buying opportunities. The upward take profit levels are set at the price of 1.1637 and at the price of 1.1705.
Trading recommendations for today: watch for potential buying opportunities.
Fundamental Analysis of EUR/USD for October 15, 2018
2018-10-15
EUR/USD is currently quite impulsive with the bullish gains after impulsive bearish pressure recently from 1.1600 area with a daily close. While USD is struggling amid worse-than-expected economic reports, EUR gained momentum without any macroeconomic data today.
After the downbeat CPI report published last week which decreased to 0.1% from the previous value of 0.2%, USD managed to gain certain momentum against EUR but failed to sustain its strength. Today US Core Retail Sales report is going to be published which is expected to increase to 0.4% from the previous value of 0.3% and Retail Sales report is expected to increase to 0.7% from the previous value of 0.1%. Additionally, US Empire Estate Manufacturing Index is expected to increase to 20.4 from the previous figure of 19.0 and Business Inventories are expected to decrease to 0.5% from the previous value of 0.6%.
On the EUR side, the economic calendar of the eurozone is empty today. However, this week the eurozone's Trade Balance report is going to be published which is expected to increase to 15.0B from the previous figure of 12.8B, Final CPI is expected to be unchanged at 2.1% and EU Economic Summit is going to be held which is expected to encourage further EUR gains this week.
Meanwhile, USD is more optimistic and hawkish in nature than EUR. Ahead of the US Retail Sales reports later today, EUR is quite impulsive with the gains. If USD trades better-than-expected today, further bearish pressure with definite trend momentum is expected in this pair throughout this week.
Now let us look at the technical view. Currently the price is quite impulsive with the bullish gains whereas the trend is still bearish. Though certain volatility may be observed in this pair but as the price remains below 1.1600-50 area with a daily close, the bearish bias is expected to continue with an intention to push lower towards 1.15 and later towards 1.13 support area in the coming days.
SUPPORT: 1.1300, 1.1500
RESISTANCE: 1.1600-50
BIAS: BEARISH
MOMENTUM: VOLATILE
GBP/JPY analysis for October 15, 2018
2018-10-15
Recently, the GBP/JPY pair has been trading downwards. As I expected, the price tested the level of 146.50. According to the H1 time – frame, I found a fake breakout of the 15-day low at the price of 146.93, which is a sign that potentially the sellers might got trapped. My advice is to watch for buying opportunities. The upward take profit level is set at the price of 148.95.
Trading recommendations for today: watch for potential buying opportunities.
Pivot: 0.7107
The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the level of 0.7107. Equally important, the AUD/USD pair is still moving around the key level at 0.7107, which represents a daily pivot in the H1 time frame at the moment. The AUD/USD pair continued to move upwards from the level of 0.7043. The pair rose from the level of 0.7043 (this level of 0.7043 coincides with the double bottom) to the top around 0.7146. In consequence, the AUD/USD pair broke resistance, which turned strong support at the level of 0.7146. The level of 0.7043 is expected to act as major support today. From this point, we expect the AUD/USD pair to continue moving in the bullish trend from the support level of 0.7043 towards the target level of 0.7146. If the pair succeeds in passing through the level of 0.7146, the market will indicate the bullish opportunity above the level of 0.7146 in order to reach the second target at 0.7179. However, if a breakout happens at the support level of 0.7043, then this scenario may be invalidated.
EUR/USD analysis for October 15, 2018
2018-10-15
Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1610. According to the H1 time – frame, I found the breakout of the bullish flag pattern in the background, which is a sign that buyers are in control. The price rejected from the Fibonacci retracement 38.2% at the price of 1.1542, this is another sign of the strength. My advice is to watch for buying opportunities. The upward take profit levels are set at the price of 1.1637 and at the price of 1.1705.
Trading recommendations for today: watch for potential buying opportunities.
Fundamental Analysis of EUR/USD for October 15, 2018
2018-10-15
EUR/USD is currently quite impulsive with the bullish gains after impulsive bearish pressure recently from 1.1600 area with a daily close. While USD is struggling amid worse-than-expected economic reports, EUR gained momentum without any macroeconomic data today.
After the downbeat CPI report published last week which decreased to 0.1% from the previous value of 0.2%, USD managed to gain certain momentum against EUR but failed to sustain its strength. Today US Core Retail Sales report is going to be published which is expected to increase to 0.4% from the previous value of 0.3% and Retail Sales report is expected to increase to 0.7% from the previous value of 0.1%. Additionally, US Empire Estate Manufacturing Index is expected to increase to 20.4 from the previous figure of 19.0 and Business Inventories are expected to decrease to 0.5% from the previous value of 0.6%.
On the EUR side, the economic calendar of the eurozone is empty today. However, this week the eurozone's Trade Balance report is going to be published which is expected to increase to 15.0B from the previous figure of 12.8B, Final CPI is expected to be unchanged at 2.1% and EU Economic Summit is going to be held which is expected to encourage further EUR gains this week.
Meanwhile, USD is more optimistic and hawkish in nature than EUR. Ahead of the US Retail Sales reports later today, EUR is quite impulsive with the gains. If USD trades better-than-expected today, further bearish pressure with definite trend momentum is expected in this pair throughout this week.
Now let us look at the technical view. Currently the price is quite impulsive with the bullish gains whereas the trend is still bearish. Though certain volatility may be observed in this pair but as the price remains below 1.1600-50 area with a daily close, the bearish bias is expected to continue with an intention to push lower towards 1.15 and later towards 1.13 support area in the coming days.
SUPPORT: 1.1300, 1.1500
RESISTANCE: 1.1600-50
BIAS: BEARISH
MOMENTUM: VOLATILE
GBP/JPY analysis for October 15, 2018
2018-10-15
Recently, the GBP/JPY pair has been trading downwards. As I expected, the price tested the level of 146.50. According to the H1 time – frame, I found a fake breakout of the 15-day low at the price of 146.93, which is a sign that potentially the sellers might got trapped. My advice is to watch for buying opportunities. The upward take profit level is set at the price of 148.95.
Trading recommendations for today: watch for potential buying opportunities.
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