2018-11-13
Overview:
The EUR/USD pair dropped from the level of 1.1467 to the bottom around 1.1215. But the pair rebounded from the bottom of 1.1215 to close at 1.1230. Today, the first support level is seen at 1.1215, and the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 1.1312, which coincides with the 23.6% Fibonacci retracement level. This resistance has been rejected several times confirming the downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the EUR/USD pair is able to break out the first support at 1.1215 , the market will decline further to 1.1134 in order to test the weekly support 2. In the H4 time frame, the pair will probably go down because the downtrend is still strong. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1215 with the first target at 1.1170 and further to 1.1134. At the same time, the breakdown of 1.1312 will allow the pair to go further up to the levels of 1.1467 in order to retest the major resistance again.
Technical analysis of AUD/USD for November 13, 2018
2018-11-13
The EUR/USD pair dropped from the level of 1.1467 to the bottom around 1.1215. But the pair rebounded from the bottom of 1.1215 to close at 1.1230. Today, the first support level is seen at 1.1215, and the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 1.1312, which coincides with the 23.6% Fibonacci retracement level. This resistance has been rejected several times confirming the downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the EUR/USD pair is able to break out the first support at 1.1215 , the market will decline further to 1.1134 in order to test the weekly support 2. In the H4 time frame, the pair will probably go down because the downtrend is still strong. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1215 with the first target at 1.1170 and further to 1.1134. At the same time, the breakdown of 1.1312 will allow the pair to go further up to the levels of 1.1467 in order to retest the major resistance again.
Technical analysis of AUD/USD for November 13, 2018
2018-11-13
Overview:
The AUD/USD pair continues to trade upwards from the level of 0.7195. The pair rose from the level of 0.7195 to a top around 0.7302. Today, the first resistance level is seen at 0.7359 followed by 0.7413, while major support is seen at 0.7195 (61.8% Fibonacci retracement). According to the previous events, the AUD/USD pair is still moving between the levels of 0.7245 and 0.7413; so we expect a range of 168 pips in coming hours. Furthermore, if the trend is able to break out through the first resistance level at 0.7302, we should see the pair climbing towards the double top (0.7302) to test it. Therefore, buy above the level of 0.7302 with the first target at 0.7359 in order to test the daily resistance 1 and further to 0.7413. Also, it might be noted that the level of 0.7413 is a good place to take profit because it will form a new double top on the H1 chart. On the other hand, in case a reversal takes place and the AUD/USD pair breaks through the support level of 0.7245, a further decline to 0.7195 can occur which would indicate a bearish market.
Analysis of Gold for November 13, 2018
2018-11-13
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,197.54. According to the H1 time – frame, I found strong selling pressure and a breakout of the intraday upward trendline, which is a sign that sellers are in control. I placed Fibonacci expansion to find a potential downward target and I got Fibonacci expansion 161.8% at the price of $1,187.20. Watch for selling opportunities.
GBP/USD analysis for November 13, 2018
2018-11-13
Recently, the GBP/USD pair has been trading sideways at the price of 1.2884. According to the H1 time – frame, I have found that GBP/USD is in a consolidation phase. My advice is to watch for a potential breakout of the support trendline 1.2828 to confirm further downward continuation. The trend is bearish and my advice is to watch for selling opportunities. The downward target is set at the price of 1.2700.
The AUD/USD pair continues to trade upwards from the level of 0.7195. The pair rose from the level of 0.7195 to a top around 0.7302. Today, the first resistance level is seen at 0.7359 followed by 0.7413, while major support is seen at 0.7195 (61.8% Fibonacci retracement). According to the previous events, the AUD/USD pair is still moving between the levels of 0.7245 and 0.7413; so we expect a range of 168 pips in coming hours. Furthermore, if the trend is able to break out through the first resistance level at 0.7302, we should see the pair climbing towards the double top (0.7302) to test it. Therefore, buy above the level of 0.7302 with the first target at 0.7359 in order to test the daily resistance 1 and further to 0.7413. Also, it might be noted that the level of 0.7413 is a good place to take profit because it will form a new double top on the H1 chart. On the other hand, in case a reversal takes place and the AUD/USD pair breaks through the support level of 0.7245, a further decline to 0.7195 can occur which would indicate a bearish market.
Analysis of Gold for November 13, 2018
2018-11-13
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,197.54. According to the H1 time – frame, I found strong selling pressure and a breakout of the intraday upward trendline, which is a sign that sellers are in control. I placed Fibonacci expansion to find a potential downward target and I got Fibonacci expansion 161.8% at the price of $1,187.20. Watch for selling opportunities.
GBP/USD analysis for November 13, 2018
2018-11-13
Recently, the GBP/USD pair has been trading sideways at the price of 1.2884. According to the H1 time – frame, I have found that GBP/USD is in a consolidation phase. My advice is to watch for a potential breakout of the support trendline 1.2828 to confirm further downward continuation. The trend is bearish and my advice is to watch for selling opportunities. The downward target is set at the price of 1.2700.
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