2018-12-26
The EUR/JPY pair is declining and should now be below the minor resistance at 126.75 to continue its movement towards the long-term target seen at 123.66.
In the short term, we see support near 125.88, which may make the first test for a corrective rally close to resistance at 126.75, and this rally will probably include another decline towards at least 125.20 and then towards the perfect target seen at 123.66.
In the short term, we see support near 125.88, which may make the first test for a corrective rally close to resistance at 126.75, and this rally will probably include another decline towards at least 125.20 and then towards the perfect target seen at 123.66.
R3: 126.75
R2: 126.25
R1: 125.92
Pivot: 125.62
S1: 125.31
S2: 125.20
S3: 124.89
Trading recommendation:
We are short from 128.05 and we will move our stop lower to 127.05.
Technical analysis of EUR/USD for December 26, 2018
2018-12-26
Overview:
The EUR/USD pair continues to move upwards from the level of 1.1421. Today, the first support level is currently seen at 1.1421, and the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.1421, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected three times confirming the uptrend. According to the previous events, we expect the EUR/USD pair to trade between 1.1421 and 1.1550. So, the support stands at 1.1421, while daily resistance is found at 1.1550. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.1421. In other words, buy orders are recommended to be placed above the spot of 1.1421 with the first target at the level of 1.1550; and then towards 1.1603. However, if the EUR/USD pair fails to break through the resistance level of 1.1550 today, the market will decline further to 1.1342.
Technical analysis of NZD/USD for December 26, 2018
2018-12-26
The EUR/USD pair continues to move upwards from the level of 1.1421. Today, the first support level is currently seen at 1.1421, and the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.1421, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected three times confirming the uptrend. According to the previous events, we expect the EUR/USD pair to trade between 1.1421 and 1.1550. So, the support stands at 1.1421, while daily resistance is found at 1.1550. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.1421. In other words, buy orders are recommended to be placed above the spot of 1.1421 with the first target at the level of 1.1550; and then towards 1.1603. However, if the EUR/USD pair fails to break through the resistance level of 1.1550 today, the market will decline further to 1.1342.
Technical analysis of NZD/USD for December 26, 2018
2018-12-26
Overview:
The NZD/USD pair broke resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered to be overbought, because it is above 70. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100). Besides, note that the pivot point is seen at the point of 0.6882. This suggests that the pair will probably go up in the coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended to be placed above 0.6800 with the first target at the level of 0.6882. From this point, the pair is likely to begin an ascending movement to the point of 0.6882 and further to the level of 0.6984. The level of 0.6984 will act as strong resistance. On the other hand, if there is a breakout at the support level of 0.6705, this scenario may become invalidated.
Technical analysis for Gold for December 26, 2018
2018-12-26
Gold price, as expected, made new highs towards the upper border of the bullish channel, in which it has been since August. We will probably see a greater uptrend towards the 61.8% Fibonacci retracement. The bearish divergence mentioned in the previous posts have been canceled, so the uptrend remains strong.
Green lines - bullish channel
Maximum and minimum values of the Gold price are getting higher and higher. The price is moving to new highs and has already reached the area of $1,270. Trend remains bullish as long as the price is above the $1,250-45 area. The resistance is at $1,274 and then at $1,285-90, where there is the 61.8% Fibonacci retracement area.
Intraday technical levels and trading recommendations for EUR/USD for December 26, 2018
2018-12-26
On the weekly chart, the EUR/USD pair is demonstrating a highly probable Head and Shoulders reversal pattern where the right shoulder is currently in progress.
On the daily chart, the pair has been moving sideways with a slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted daily movement channel since June 2018.
On November 13, the EUR/USD pair demonstrated bullish recovery around 1.1220-1.1250 where the lower limit of the channel as well as the depicted demand zone came to meet the pair.
Bullish fixation above 1.1420 was necessary to enhance further bullish movement towards 1.1520. However, the market demonstrated a significant bearish rejection around 1.1420 a few times.
Recently, the EUR/USD pair has been trapped between the price levels of 1.1420 and 1.1270 waiting for a breakout since November 5.
On Friday, based on the recent price action, there was another bearish engulfing daily candlestick around the price level of 1.1420. This enhances the bearish trend of the market towards 1.1270 in the short term.
The NZD/USD pair broke resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered to be overbought, because it is above 70. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100). Besides, note that the pivot point is seen at the point of 0.6882. This suggests that the pair will probably go up in the coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended to be placed above 0.6800 with the first target at the level of 0.6882. From this point, the pair is likely to begin an ascending movement to the point of 0.6882 and further to the level of 0.6984. The level of 0.6984 will act as strong resistance. On the other hand, if there is a breakout at the support level of 0.6705, this scenario may become invalidated.
Technical analysis for Gold for December 26, 2018
2018-12-26
Gold price, as expected, made new highs towards the upper border of the bullish channel, in which it has been since August. We will probably see a greater uptrend towards the 61.8% Fibonacci retracement. The bearish divergence mentioned in the previous posts have been canceled, so the uptrend remains strong.
Green lines - bullish channel
Maximum and minimum values of the Gold price are getting higher and higher. The price is moving to new highs and has already reached the area of $1,270. Trend remains bullish as long as the price is above the $1,250-45 area. The resistance is at $1,274 and then at $1,285-90, where there is the 61.8% Fibonacci retracement area.
Intraday technical levels and trading recommendations for EUR/USD for December 26, 2018
2018-12-26
On the weekly chart, the EUR/USD pair is demonstrating a highly probable Head and Shoulders reversal pattern where the right shoulder is currently in progress.
On the daily chart, the pair has been moving sideways with a slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted daily movement channel since June 2018.
On November 13, the EUR/USD pair demonstrated bullish recovery around 1.1220-1.1250 where the lower limit of the channel as well as the depicted demand zone came to meet the pair.
Bullish fixation above 1.1420 was necessary to enhance further bullish movement towards 1.1520. However, the market demonstrated a significant bearish rejection around 1.1420 a few times.
Recently, the EUR/USD pair has been trapped between the price levels of 1.1420 and 1.1270 waiting for a breakout since November 5.
On Friday, based on the recent price action, there was another bearish engulfing daily candlestick around the price level of 1.1420. This enhances the bearish trend of the market towards 1.1270 in the short term.
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