2018-11-19
We continue to look for EUR/JPY to move lower towards 123.66 in wave C to complete the long-term triangle consolidation.
At this point only a clear break above resistance at 129.40 will be of concern, while a break above resistance at 130.13 will invalidate the expected decline towards 123.66 and instead call for a new rally towards strong resistance near 133.00.
R3: 130.13
R2: 129.40
R1: 129.06
Pivot: 128.90
S1: 128.40
S2: 128.00
S3: 127.74
Trading recommendation:
We sold EUR at 128.75 and have a protective stop at 129.75.
Elliott wave analysis of EUR/NZD for November 19, 2018
2018-11-19
EUR/NZD tested the top of the 1.6468 - 1.6563 target-zone and it looks as a bottom could be in place for wave iii/ and a corrective rally in wave iv/ is about to develop. Ideally this corrective rally will move close to the 50% corrective target of wave iii/ near 1.7023, before tuning lower again in wave v/.
To confirm that wave iii/ has bottomed and wave iv is developing, we will need a break above minor resistance at 1.6706.
R3: 1.6793
R2: 1.6731
R1: 1.6706
Pivot: 1.6660
S1: 1.6570
S2: 1.6539
S3: 1.6523
Trading recommendation:
We will buy EUR at 1.6525 or upon a break above 1.6706.
Technical analysis of USD/CHF for November 19, 2018
2018-11-19
Overview:
The USD/CHF pair continues to move upwards from the level of 0.9951 on the H4 chart. Today, the first support level is currently seen at 0.9951, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9951, which coincides with the daily pivot point. This support has been rejected three times confirming the veracity of an uptrend. According to the previous events, we expect the USD/CHF pair to trade between 0.9951 and 1.0058. So, the support stands at 0.9951, while daily resistance is found at 1.0058. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.0058. In other words, buy orders are recommended above the spot of 1.0058/0.9951with the first target at the level of 1.0142; and continue towards 1.0216. However, if the USD/CHF pair fails to break through the resistance level of 1.0058 today, the market will decline further to 0.9863.
Technical analysis of USD/CAD for November 19, 2018
2018-11-19
Overview:
The USD/CAD pair continues to move upwards from the level of 1.3134. The pair rose from the level of 1.3134 (the level of 1.3134 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3160. Today, the first support level is seen at 1.3134 followed by 1.3105, while daily resistance 1 is seen at 1.3183. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3134 and 1.3262; for that we expect a range of 128 pips (1.3262 - 1.3134). On the one-hour chart, immediate resistance is seen at 1.3183, which coincides with a ratio of 61.8% Fibonacci retracement. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100), Therefore, if the trend is able to break out through the first resistance level of 1.3183, we should see the pair climbing towards the daily resistance at 1.3262 to test the double top on the H1 chart. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3105.
EUR/USD analysis for November 19, 2018
2018-11-19
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1428. According to the M30 time – frame, I found that price is trading above the Ichimoku cloud and above Kijun- sen and Tenkan-sen, which is sign that buyers are in control. I also found on the point and figure chart that there is a breakout of the triple top formation, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.1447 (pivot R1) and at the price of 1.1480 (Pivot R2).
GBP/USD analysis for November 19, 2018
2018-11-19
Recently, the GBP/USD pair has been trading sideways at the price of 1.2869. According to the H1 time – frame, I have found that price is trading above the 24H moving average and that there is a fake breakout of the swing low at the price of 1.2825, which is a sign that selling looks risky. My advice is to watch for buying opportunities above the price of 1.2880. The upward target is set at the price of 1.3030 (key short-term resistance).
The USD/CAD pair continues to move upwards from the level of 1.3134. The pair rose from the level of 1.3134 (the level of 1.3134 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3160. Today, the first support level is seen at 1.3134 followed by 1.3105, while daily resistance 1 is seen at 1.3183. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3134 and 1.3262; for that we expect a range of 128 pips (1.3262 - 1.3134). On the one-hour chart, immediate resistance is seen at 1.3183, which coincides with a ratio of 61.8% Fibonacci retracement. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100), Therefore, if the trend is able to break out through the first resistance level of 1.3183, we should see the pair climbing towards the daily resistance at 1.3262 to test the double top on the H1 chart. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3105.
EUR/USD analysis for November 19, 2018
2018-11-19
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1428. According to the M30 time – frame, I found that price is trading above the Ichimoku cloud and above Kijun- sen and Tenkan-sen, which is sign that buyers are in control. I also found on the point and figure chart that there is a breakout of the triple top formation, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.1447 (pivot R1) and at the price of 1.1480 (Pivot R2).
GBP/USD analysis for November 19, 2018
2018-11-19
Recently, the GBP/USD pair has been trading sideways at the price of 1.2869. According to the H1 time – frame, I have found that price is trading above the 24H moving average and that there is a fake breakout of the swing low at the price of 1.2825, which is a sign that selling looks risky. My advice is to watch for buying opportunities above the price of 1.2880. The upward target is set at the price of 1.3030 (key short-term resistance).
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