2018-12-12
Overview:
The EUR/USD pair fell from the level of 1.1338 towards 1.1265. Now, the price is set at 1.1330. The resistance is seen at the level of 1.1338 and 1.1390. Moreover, the price area of 1.1390/1.1338 remains a significant resistance zone. Therefore, there is a possibility that the EUR/USD pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, amid the previous events, the price is still moving between the levels of 1.1338 and 1.1253. If the EUR/USD pair fails to break through the resistance level of 1.1338, the market will decline further to 1.1253 as as the first target. This would suggest a bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.1197 so as to test the daily support 2. On the contrary, if a breakout takes place at the resistance level of 1.1338, then this scenario may become invalidated.
Technical analysis of USD/CHF for December 12, 2018
2018-12-12
The EUR/USD pair fell from the level of 1.1338 towards 1.1265. Now, the price is set at 1.1330. The resistance is seen at the level of 1.1338 and 1.1390. Moreover, the price area of 1.1390/1.1338 remains a significant resistance zone. Therefore, there is a possibility that the EUR/USD pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, amid the previous events, the price is still moving between the levels of 1.1338 and 1.1253. If the EUR/USD pair fails to break through the resistance level of 1.1338, the market will decline further to 1.1253 as as the first target. This would suggest a bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.1197 so as to test the daily support 2. On the contrary, if a breakout takes place at the resistance level of 1.1338, then this scenario may become invalidated.
Technical analysis of USD/CHF for December 12, 2018
2018-12-12
Overview:
The USD/CHF pair continue 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. There are no changes in our technical outlook. The bias remains bullish in the nearest term testing 1.0142 or heigher. 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.
EUR/USD analysis for December 12, 2018
2018-12-12
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1350. Anyway, according to the M15 time – frame, I found that EUR/USD is trading above the Ichimoku cloud and that price couldn't sustain below the weekly support 1 (1.1318), which is a sign of the strength. There is also a double top (bullish pattern) on the point and figure chart, which is another sign of the strength. My advice is to watch for buying opportunities. The upward target is set at the price of 1.1370.
Intraday technical levels and trading recommendations for EUR/USD for December 12, 2018
2018-12-12
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.
On the Daily chart, the pair has been moving sideways with a slight bearish bias. Recent bearish consolidations have been maintained within the depicted daily movement channel since June 2018.
On November 13, the EUR/USD demonstrated recent 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 is needed to enhance further bullish movement towards 1.1520. However, the market has demonstrated significant bearish rejection around 1.1420 few times so far.
The EUR/USD pair remains under bearish pressure below 1.1420. Thus, the pair remains trapped between the price levels of 1.1420 and 1.1270 until breakout occurs in either direction.
If early bearish breakout below 1.1270 is achieved on lower timeframes, a quick decline should be expected towards 1.1150-1.1100.
On the other hand, bullish fixation above 1.1420 enhances further bullish advancement towards 1.1520 and 1.1610.
Intraday technical levels and trading recommendations for GBP/USD for December 12, 2018
2018-12-12
Since mid-November, the GBP/USD pair failed to establish a successful bullish breakout above the price level of 1.2880 (the upper limit of the depicted consolidation range).
On the other hand, two unsuccessful bearish breakout attempts were demonstrated below 1.2720 during last week's consolidations.
During Friday's consolidations, the GBP/USD pair failed to fixate above 1.2780 (79.6% Fibonacci). That's why, a significant decline was demonstrated below 1.2700-1.2660 (Historical bottoms) yesterday.
The current scenario could pursue as a bearish flag continuation pattern provided that bearish persistence below 1.2660 (corresponding to a prominent daily low) is maintained on daily basis.
Any bullish pullback towards the price zone of 1.2660-1.2700 should be watched for a valid SELL entry. S/L should be set as daily closure above 1.2750.
Projected target for the bearish flag continuation pattern is located around 1.2300. Initial bearish destination is located around 1.2470 and 1.2380.
The USD/CHF pair continue 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. There are no changes in our technical outlook. The bias remains bullish in the nearest term testing 1.0142 or heigher. 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.
EUR/USD analysis for December 12, 2018
2018-12-12
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1350. Anyway, according to the M15 time – frame, I found that EUR/USD is trading above the Ichimoku cloud and that price couldn't sustain below the weekly support 1 (1.1318), which is a sign of the strength. There is also a double top (bullish pattern) on the point and figure chart, which is another sign of the strength. My advice is to watch for buying opportunities. The upward target is set at the price of 1.1370.
Intraday technical levels and trading recommendations for EUR/USD for December 12, 2018
2018-12-12
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.
On the Daily chart, the pair has been moving sideways with a slight bearish bias. Recent bearish consolidations have been maintained within the depicted daily movement channel since June 2018.
On November 13, the EUR/USD demonstrated recent 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 is needed to enhance further bullish movement towards 1.1520. However, the market has demonstrated significant bearish rejection around 1.1420 few times so far.
The EUR/USD pair remains under bearish pressure below 1.1420. Thus, the pair remains trapped between the price levels of 1.1420 and 1.1270 until breakout occurs in either direction.
If early bearish breakout below 1.1270 is achieved on lower timeframes, a quick decline should be expected towards 1.1150-1.1100.
On the other hand, bullish fixation above 1.1420 enhances further bullish advancement towards 1.1520 and 1.1610.
Intraday technical levels and trading recommendations for GBP/USD for December 12, 2018
2018-12-12
Since mid-November, the GBP/USD pair failed to establish a successful bullish breakout above the price level of 1.2880 (the upper limit of the depicted consolidation range).
On the other hand, two unsuccessful bearish breakout attempts were demonstrated below 1.2720 during last week's consolidations.
During Friday's consolidations, the GBP/USD pair failed to fixate above 1.2780 (79.6% Fibonacci). That's why, a significant decline was demonstrated below 1.2700-1.2660 (Historical bottoms) yesterday.
The current scenario could pursue as a bearish flag continuation pattern provided that bearish persistence below 1.2660 (corresponding to a prominent daily low) is maintained on daily basis.
Any bullish pullback towards the price zone of 1.2660-1.2700 should be watched for a valid SELL entry. S/L should be set as daily closure above 1.2750.
Projected target for the bearish flag continuation pattern is located around 1.2300. Initial bearish destination is located around 1.2470 and 1.2380.
Get Bonus No Deposite in your Trading Account now and add this currency pair to your forex portfolio, enjoy your trading with us!
No comments:
Post a Comment