2018-11-29
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1397. Anyway, according to the M30 time – frame, I have found a fake breakout of yesterday's high at the price of 1.1387, which is a sign that buying looks risky. I have also found LCD (low close doji) pattern, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1340 (daily pivot) and at the price of 1.1293 (daily support 1).
Analysis of Gold for November 29, 2018
2018-11-29
Recently, Gold has been trading upwards. The price tested the level of $1,226.00. According to the M15 time – frame, I have fond that price got trouble to trade above yesterday's high at the price of $1,226.00, which is a sign that demand is weak. My advice is to watch for a potential breakout of the support trendline to confirm further bearish momentum. A downward target is set at the price of $1,219.40.
Technical analysis of USD/CHF for November 29, 2018
2018-11-29
Overview:
The USD/CHF pair keeps to trade 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 0.9860.
Technical analysis of USD/CAD for November 29, 2018
2018-11-29
Overview:
The USD/CAD pair continues to move upwards from the level of 1.3216. Yesterday, the pair rose from the level of 1.3216 (the level of 1.3216 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3358 but it rebounbed towards the price of 1.3292. Today, the first resistance level is seen at 1.3358 followed by 1.3413, while daily support 1 is seen at 1.3216. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3216 and 1.3413; for that we expect a range of 197 pips (1.3413 - 1.3216). On the one-hour chart, immediate resistance is seen at 1.3358, which coincides with double top. 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 1.3358, we should see the pair climbing towards the daily resistance at 1.3413 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3216.
The USD/CHF pair keeps to trade 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 0.9860.
Technical analysis of USD/CAD for November 29, 2018
2018-11-29
Overview:
The USD/CAD pair continues to move upwards from the level of 1.3216. Yesterday, the pair rose from the level of 1.3216 (the level of 1.3216 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3358 but it rebounbed towards the price of 1.3292. Today, the first resistance level is seen at 1.3358 followed by 1.3413, while daily support 1 is seen at 1.3216. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3216 and 1.3413; for that we expect a range of 197 pips (1.3413 - 1.3216). On the one-hour chart, immediate resistance is seen at 1.3358, which coincides with double top. 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 1.3358, we should see the pair climbing towards the daily resistance at 1.3413 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3216.
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