2018-12-13
Overview:
The NZD/USD pair broke resistance which 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 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 the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended 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 a breakout happens at the support level of 0.6705, then this scenario may become invalidated.
Technical analysis of AUD/USD for December 13, 2018
2018-12-13
The NZD/USD pair broke resistance which 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 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 the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended 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 a breakout happens at the support level of 0.6705, then this scenario may become invalidated.
Technical analysis of AUD/USD for December 13, 2018
2018-12-13
Overview:
The AUD/USD pair continues to trade upwards from the level of 0.7185. The pair rose from the level of 0.7185 to a top around 0.7299 but it rebounded to set around the spot of 0.7212 and 0.7249 . Today, the first resistance level is seen at 0.7299 followed by 0.7352, while daily support 1 is seen at 0.7185 (50% Fibonacci retracement). According to the previous events, the AUD/USD pair is still moving between the levels of 0.7250 and 0.7352; so we expect a range of 102 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.7299, we should see the pair climbing towards the double top (0.7299) to test it. Therefore, buy above the level of 0.7299 with the first target at 0.7352 in order to test the daily resistance 1 and further to 0.7394. Also, it might be noted that the level of 0.7394 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 AUD/USD pair breaks through the support level of 0.7185, a further decline to 0.7069 can occur which would indicate a bearish market.
GBP/USD analysis for December 13, 2018
2018-12-13
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2686. According to the H4 time – frame, I found that there is a confirmed double bottom pattern with a fake breakout of the support at the price of 1.2477, which is a sign that sellers got exhausted. I also found that there is a breakout of the 12h balance, which is another sigh of the strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.2743 (upper Keltner band).
EUR/USD analysis for December 13, 2018
2018-12-13
Recently, the EUR/USD pair has been trading sideways at the price of 1.1377. According to the M15 time – frame, I have found that price is trading above the Ichimoku cloud and above the daily pivot, which is a sign that buyer are in control. I also found the 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 targets are set at the price of 1.1397 and at the price of 1.1425.
The AUD/USD pair continues to trade upwards from the level of 0.7185. The pair rose from the level of 0.7185 to a top around 0.7299 but it rebounded to set around the spot of 0.7212 and 0.7249 . Today, the first resistance level is seen at 0.7299 followed by 0.7352, while daily support 1 is seen at 0.7185 (50% Fibonacci retracement). According to the previous events, the AUD/USD pair is still moving between the levels of 0.7250 and 0.7352; so we expect a range of 102 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.7299, we should see the pair climbing towards the double top (0.7299) to test it. Therefore, buy above the level of 0.7299 with the first target at 0.7352 in order to test the daily resistance 1 and further to 0.7394. Also, it might be noted that the level of 0.7394 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 AUD/USD pair breaks through the support level of 0.7185, a further decline to 0.7069 can occur which would indicate a bearish market.
GBP/USD analysis for December 13, 2018
2018-12-13
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2686. According to the H4 time – frame, I found that there is a confirmed double bottom pattern with a fake breakout of the support at the price of 1.2477, which is a sign that sellers got exhausted. I also found that there is a breakout of the 12h balance, which is another sigh of the strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.2743 (upper Keltner band).
EUR/USD analysis for December 13, 2018
2018-12-13
Recently, the EUR/USD pair has been trading sideways at the price of 1.1377. According to the M15 time – frame, I have found that price is trading above the Ichimoku cloud and above the daily pivot, which is a sign that buyer are in control. I also found the 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 targets are set at the price of 1.1397 and at the price of 1.1425.
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