2018-10-10
Overview:
The USD/CHF pair continues to trade upwards from the level of 0.9875. The pair rose from the level of 0.9875 to a top around 0.9865. Today, the first resistance level is seen at 0.9865 followed by 0.9922, while daily support 1 is seen at 0.9743 (61.8% Fibonacci retracement). According to the previous events, the USD/CHF pair is still moving between the levels of 0.9875 and 0.9999; so we expect a range of 124 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.9865, we should see the pair climbing towards the second resistance (0.9922) to test it. Therefore, buy above the level of 0.9865 with the first target at 0.9922 in order to test the daily resistance 2 and further to 0.9963. Also, it might be noted that the level of 0.9963 is a good place to take profit because it will form a new double top. On the other hand, in case a reversal takes place and the USD/CHF pair breaks through the support level of 0.9875 , a further decline to 0.9743 can occur which would indicate a bearish market.
Technical analysis of EUR/USD for October 10, 2018
2018-10-10
The USD/CHF pair continues to trade upwards from the level of 0.9875. The pair rose from the level of 0.9875 to a top around 0.9865. Today, the first resistance level is seen at 0.9865 followed by 0.9922, while daily support 1 is seen at 0.9743 (61.8% Fibonacci retracement). According to the previous events, the USD/CHF pair is still moving between the levels of 0.9875 and 0.9999; so we expect a range of 124 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.9865, we should see the pair climbing towards the second resistance (0.9922) to test it. Therefore, buy above the level of 0.9865 with the first target at 0.9922 in order to test the daily resistance 2 and further to 0.9963. Also, it might be noted that the level of 0.9963 is a good place to take profit because it will form a new double top. On the other hand, in case a reversal takes place and the USD/CHF pair breaks through the support level of 0.9875 , a further decline to 0.9743 can occur which would indicate a bearish market.
Technical analysis of EUR/USD for October 10, 2018
2018-10-10
Overview:
Bearish outlook:
The EUR/USD pair continues to trade downwards from the zone of 1.1620 and 1.1559. The pair dropped from the level of 1.1620 to 1.1500 which coincides with a ratio of 38.2% Fibonacci on the daily chart. Today, resistance is seen at the levels of 1.1559 and 1.1620. So, we expect the price to set below the strong resistance at the levels of 1.1620 and 1.1559; because the price is in a bearish channel now. The RSI starts signaling a downward trend. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1559 with the first target at 1.1422 and further to 1.1360 in order to test the daily support. If the USD/CHF pair is able to break out the daily support at 1.1559, the market will decline further to 1.1422 to approach support 2 today. However, the price spot of 1.1620 and 1.1559 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 1.1620 is not breached.
GBP/USD analysis for October 10, 2018
2018-10-10
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3184. According to the H4 time – frame, I found the end of the downward correction (irregular flat), which is a sign that buyers are in control. I also found the breakout of the supply trendline in the background and the hidden bullish divergence on the MACD oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.3216 and at the price of 1.3292.
EUR/USD analysis for October 10, 2018
2018-10-10
Recently, the EUR/USD pair has been trading sideways at the price of 1.1488. According to the H1 time – frame, I found a breakout of the key supply trendline in the background, which is a sign that buyers are taking control. I also found the successful test of the supply after the breakout, which is another sign of strength. My advice is to watch for buying opportunities. Take profit levels are set at the price of 1.1550 and at the price of 1.1590.
Bearish outlook:
The EUR/USD pair continues to trade downwards from the zone of 1.1620 and 1.1559. The pair dropped from the level of 1.1620 to 1.1500 which coincides with a ratio of 38.2% Fibonacci on the daily chart. Today, resistance is seen at the levels of 1.1559 and 1.1620. So, we expect the price to set below the strong resistance at the levels of 1.1620 and 1.1559; because the price is in a bearish channel now. The RSI starts signaling a downward trend. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1559 with the first target at 1.1422 and further to 1.1360 in order to test the daily support. If the USD/CHF pair is able to break out the daily support at 1.1559, the market will decline further to 1.1422 to approach support 2 today. However, the price spot of 1.1620 and 1.1559 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 1.1620 is not breached.
GBP/USD analysis for October 10, 2018
2018-10-10
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3184. According to the H4 time – frame, I found the end of the downward correction (irregular flat), which is a sign that buyers are in control. I also found the breakout of the supply trendline in the background and the hidden bullish divergence on the MACD oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.3216 and at the price of 1.3292.
EUR/USD analysis for October 10, 2018
2018-10-10
Recently, the EUR/USD pair has been trading sideways at the price of 1.1488. According to the H1 time – frame, I found a breakout of the key supply trendline in the background, which is a sign that buyers are taking control. I also found the successful test of the supply after the breakout, which is another sign of strength. My advice is to watch for buying opportunities. Take profit levels are set at the price of 1.1550 and at the price of 1.1590.
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