2018-11-21
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2776. According to the H1 time – frame, I found a potential end of the upward correction in the background (expanded flat), which is a sign that buying looks risky. Most recently, I have found the breakout of the intraday bearish flag, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2722.
Technical analysis of GBP/USD for November 21, 2018
2018-11-21
Overview:
The GBP/USD pair dropped sharply from the level of 1.2890 towards 1.2780. Now, the price is set at 1.2780. On the H1 chart, the resistance is seen at the levels of 1.2890 and 1.3001. Volatility is very high for that the GBP/USD pair is still expected to be moving between 1.2829 and 1.2725 in coming hours. In the short term, we expect the GBP/USD pair to continue to trade in a bullish trend from the new support level of 1.2725 to form a bullish channel. Also, it should be noted that major resistance is seen at 1.2829, while immediate resistance is found at 1.2829. According to the previous events, the pair is likely to move from 1.2725 towards 1.2829 and 1.2890 as targets. In the H4 time frame:
However, if the pair fails to pass through the level of 1.2890, the market will indicate a bearish opportunity below the level of 1.2890. So, the market will decline further to 1.2725 in order to return to the daily support. Moreover, a breakout of that target will move the pair further downwards to 1.2639.
EUR/USD analysis for November 21, 2018
2018-11-21
Recently, the EUR/USD pair has been trading sideways at the price of 1.1393. According to the H1 time – frame, I found that upward correction is in progress, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward target is set at the price of 1.1300.
Technical analysis of USD/CHF for November 21, 2018
2018-11-21
Overview:
The USD/CHF pair continues 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 0.9863.
The GBP/USD pair dropped sharply from the level of 1.2890 towards 1.2780. Now, the price is set at 1.2780. On the H1 chart, the resistance is seen at the levels of 1.2890 and 1.3001. Volatility is very high for that the GBP/USD pair is still expected to be moving between 1.2829 and 1.2725 in coming hours. In the short term, we expect the GBP/USD pair to continue to trade in a bullish trend from the new support level of 1.2725 to form a bullish channel. Also, it should be noted that major resistance is seen at 1.2829, while immediate resistance is found at 1.2829. According to the previous events, the pair is likely to move from 1.2725 towards 1.2829 and 1.2890 as targets. In the H4 time frame:
However, if the pair fails to pass through the level of 1.2890, the market will indicate a bearish opportunity below the level of 1.2890. So, the market will decline further to 1.2725 in order to return to the daily support. Moreover, a breakout of that target will move the pair further downwards to 1.2639.
EUR/USD analysis for November 21, 2018
2018-11-21
Recently, the EUR/USD pair has been trading sideways at the price of 1.1393. According to the H1 time – frame, I found that upward correction is in progress, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward target is set at the price of 1.1300.
Technical analysis of USD/CHF for November 21, 2018
2018-11-21
Overview:
The USD/CHF pair continues 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 0.9863.
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