2018-11-14
Overview:
The USD/CAD pair continues to rise from the levels of 1.3219 and 1.3184 in the long term. It should be noted that the support is established at the level of 1.3184 which represents the 61.8% Fibonacci retracement level on the H1 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the USD/CAD pair is showing signs of strength following a breakout of the highest level of 1.3219. So, buy above the level of 1.3219 with the first target at 1.3262 in order to test the daily resistance 1 and further to 1.3300. Also, it might be noted that the level of 1.3262 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the USD/CAD pair breaks through the support level of 1.3184, a further decline to 1.3134 can occur which would indicate a bearish market.
Analysis of Gold for November 14, 2018
2018-11-14
Recently, Gold has been trading downwards. The price tested the level of $1,195.90. According to the H1 time – frame, I found end of the upward correction (irregular type 2), which is a sign that buying looks risky. I have also found the breakout of the intraday upward trendline, which is another sign that sellers are in control. My advice is to watch for selling opportunities. The downward target is set at the price of $1,187.20.
Trading recommendations for today: watch for potential selling opportunities.
EUR/USD analysis for November 14, 2018
2018-11-14
Recently, the EUR/USD pair has been trading sideways at the price of 1.1269. Anyway, according to the H1 time – frame, I found a breakout of the intraday bearish flag in the background, which is a sign that sellers are in control. The short – term trend is bearish and my advice is to go with the trend. Watch for selling opportunities. The downward target is set at the price of 1.1215.
Technical analysis of NZD/USD for November 14, 2018
2018-11-14
Overview:
Pivot: 0.6779.
The NZD/USD pair continues to move upwards from the level of 0.6696. The pair rose from the level of 0.6696 to a top around 0.6779. Today, the first resistance level is seen at 0.6823 followed by 0.6867, while the daily support 1 is seen at 0.6696 (last bearish wave). According to the previous events, the NZD/USD pair is still moving between the levels of 0.6779 and 0.6867; so we expect a range of 88 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.6779, we should see the pair climbing towards the resistance of 0.6823 to test it. Therefore, buy above the level of 0.6779 with the first target at 0.6823 in order to test the daily resistance 1 and further to 0.6867. Also, it might be noted that the level of 0.6867 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.6696, a further decline to 0.9789 can occur which would indicate a bearish market on the H4 chart.
Intraday technical levels and trading recommendations for EUR/USD for November 14, 2018
2018-11-14
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.
Recently, temporary bullish recovery was demonstrated around 1.1300. Hence, another bullish pullback was executed towards 1.1499 (the upper limit of the supply zone) where another descending high was established.
As for the bearish side of the market to remain dominant, the EUR/USD pair should continue trading below the price zone of 1.1300-1.1275. Initial bearish target would located around 1.1100.
Bearish persistence below 1.1275 is mandatory to allow a further decline towards 1.1100.
However, failure to fixate below 1.1275 would enhance the bullish side of the market towards 1.1400 again. Thus, the EUR/USD pair remains trapped within a narrow price range (1.1275-1.1400).
The USD/CAD pair continues to rise from the levels of 1.3219 and 1.3184 in the long term. It should be noted that the support is established at the level of 1.3184 which represents the 61.8% Fibonacci retracement level on the H1 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the USD/CAD pair is showing signs of strength following a breakout of the highest level of 1.3219. So, buy above the level of 1.3219 with the first target at 1.3262 in order to test the daily resistance 1 and further to 1.3300. Also, it might be noted that the level of 1.3262 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the USD/CAD pair breaks through the support level of 1.3184, a further decline to 1.3134 can occur which would indicate a bearish market.
Analysis of Gold for November 14, 2018
2018-11-14
Recently, Gold has been trading downwards. The price tested the level of $1,195.90. According to the H1 time – frame, I found end of the upward correction (irregular type 2), which is a sign that buying looks risky. I have also found the breakout of the intraday upward trendline, which is another sign that sellers are in control. My advice is to watch for selling opportunities. The downward target is set at the price of $1,187.20.
Trading recommendations for today: watch for potential selling opportunities.
EUR/USD analysis for November 14, 2018
2018-11-14
Recently, the EUR/USD pair has been trading sideways at the price of 1.1269. Anyway, according to the H1 time – frame, I found a breakout of the intraday bearish flag in the background, which is a sign that sellers are in control. The short – term trend is bearish and my advice is to go with the trend. Watch for selling opportunities. The downward target is set at the price of 1.1215.
Technical analysis of NZD/USD for November 14, 2018
2018-11-14
Overview:
Pivot: 0.6779.
The NZD/USD pair continues to move upwards from the level of 0.6696. The pair rose from the level of 0.6696 to a top around 0.6779. Today, the first resistance level is seen at 0.6823 followed by 0.6867, while the daily support 1 is seen at 0.6696 (last bearish wave). According to the previous events, the NZD/USD pair is still moving between the levels of 0.6779 and 0.6867; so we expect a range of 88 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.6779, we should see the pair climbing towards the resistance of 0.6823 to test it. Therefore, buy above the level of 0.6779 with the first target at 0.6823 in order to test the daily resistance 1 and further to 0.6867. Also, it might be noted that the level of 0.6867 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.6696, a further decline to 0.9789 can occur which would indicate a bearish market on the H4 chart.
Intraday technical levels and trading recommendations for EUR/USD for November 14, 2018
2018-11-14
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.
Recently, temporary bullish recovery was demonstrated around 1.1300. Hence, another bullish pullback was executed towards 1.1499 (the upper limit of the supply zone) where another descending high was established.
As for the bearish side of the market to remain dominant, the EUR/USD pair should continue trading below the price zone of 1.1300-1.1275. Initial bearish target would located around 1.1100.
Bearish persistence below 1.1275 is mandatory to allow a further decline towards 1.1100.
However, failure to fixate below 1.1275 would enhance the bullish side of the market towards 1.1400 again. Thus, the EUR/USD pair remains trapped within a narrow price range (1.1275-1.1400).
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