Tag Archives: Japanese Yen

Technical analysis of EUR/USD for December 05, 2019

Overview:Pivot: 1.1078.The EUR/USD pair didn’t make any significant movements this week. There are no changes in our technical outlook. The bias remains bullish in the nearest term testing 1.1175 or higher. Immediate support is seen around 1.1027. The EUR/USD pair continues to move upwards from the level of 1.1027. Today, the first support level is currently seen at 1.1027, the price is moving in a bullish channel now. Amid the previous events, the price is still moving between the levels of 1.1027 and 1.1132. The daily resistance and support are seen at the levels of 1.1101 and 1.1132 respectively. In consequence, it is recommended to be cautious while placing orders in this area. Thus, we should wait until the uptrend channel has completed. Furthermore, if the trend is able to break out through the first resistance level at 1.1101, we should see the pair climbing towards the double top (1.1132) to test it. Therefore, buy above the level of 1.1055 with the first target at 1.1101 in order to test the daily resistance 2 and further to 1.1132. Also, it might be noted that the level of 1.1175 ais a good place to take profit because it will form a…

Trader’s Diary: EURUSD on 12/05/2019, Foundation and equipment

Foundations and Techniques are the yin and yang of the market. This is especially true for futures markets, which undoubtedly include the FOREX market. Furthermore, the technique is understood as the Technical Analysis of the market, and based on trade, the Foundation is the fundamental analysis of the market.The foundation serves a more significant role for the stock market while the technique serves as subordinate to the foundation. But for futures markets, the information is deficient and the most important part of the information can be hidden from the ordinary trader, and as stated by the rule, we do not have the access to the position of the largest players. Traders of large banks know who and which countries and large businesses are buying or selling at the moment. But, again, rules state that this is classified information. Therefore, technology becomes the main weapon.Furthermore, the technique and foundation work together at all times. When the market has realized the current condition of the foundation, the market is traded using an adequate foundation technique. For example, there are strong factors for rising or falling, and this is where the trend begins. When all the technicians see the trend they trade it and…

Where to buy EUR/USD pair better?

Good afternoon, dear traders! I present to you a trading idea for the EUR/USD pair
So, yesterday, as we expected, the EUR/USD pair broke the extreme on November 25 during the European session. However, a series of news came out in America that drove the pair to a point of initial growth. Thus, we have a V-shaped close of the day in America, but it’s a classic pin bar on D1.
Nevertheless, the most interesting thing is that, Nkito has not touched the buyers’ feet over the past 2.5 days. On D1, we see the so-called “double bottom” and pin bar. Therefore, buyers were trapped. On the one hand, Americans have been selling on the horizon for two days, and on the other, buyers are trapped below the level of 1.10642.
This can be earned twice. All you need to do is to move quickly downwards to breakdown 1.10642 and after it false breakdown, take longs to 1.11800-1.2
One of these events can easily be implemented on Friday on unemployment in the United States.
Good luck in trading and see you at the next reviews!
The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis recommendations for EUR/USD and GBP/USD on December 5

Economic calendar (Universal time)
Today, the economic calendar contains a variety of statistics, but publication of important indicators on December 5 is not expected.
Yesterday, none of the players managed to be as convincing as possible. As a result, the day has a long upper shadow, but the full-fledged rebound of the day candle is still not complete. Therefore, it is now highly likely that consolidation and uncertainty will develop. The current resistance is 1.1102 (the final boundary of the daily cross). The center of attraction is the area of 1.1082 (weekly Fibo Kijun + daily medium-term trend + upper boundary of the daily cloud). In this situation, support can be noted at 1.1060-50 (weekly Tenkan + daily levels) and 1.1030 (lower boundary of the daily cloud).
At the moment, the pair is deep enough in the downward correction zone. The players on the upside need to overcome 1.1086 (central Pivot level) and 1.1116 (maximum extreme), in order to regain their advantages and opportunities today. The positions of players to lower can be strengthened, having consolidated below the weekly long-term trend, which is now located at 1.1047. Due to the lack of clear priorities in…

Trading plan for EUR/USD for December 05, 2019

Technical outlook:EUR/USD is heading higher, having broken above 1.1110 levels and having taken out past interim resistance. An immediate potential direction should be lower towards 1.1030 levels at least. There are two potential wave counts which can unfold from here. 1. The boundary which is being worked upon is between 1.0981 and 1.1116 and a retracement to 1.1030 levels could be the next entry on the long side. For this count to remain valid, prices should stay above 1.0981, going forward. 2. The corrective drop from 1.1181 levels might be unfolding as a more complex combination which is still not complete. Yet another drop below 1.0981 could be possible with a potential target towards 1.0940, which is fibonacci 0.786 support of the entire rally between 1.0879 and 1.1181 levels respectively. In either case, EURUSD should remain bullish until prices stay above 1.0879 levels, going forward. The expected rally might materialize either from 1.1030 or 1.0940 levels respectively.Trading plan:Take partial profits now.Buy again at 1.1030 levels, stop at 1.0879, target is 1.1500Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

Control zones of AUD/USD on 12/05/19

On the third day, the pair tests the zone of the average weekly move, which leads to a halt in growth and the formation of a local accumulation zone. The probability of consolidation above the average move by the end of this week is 30%, which makes purchases from current marks not profitable. In order to enter a long position, it will be necessary to lower the pair to yesterday’s low or to Weekly Control Zone 1/2 0.6804-0.6798.
Working in the flat implies the search for entry points at the boundaries of the range. The lower boundary is at a minimum of the last two days.
The upward movement remains a medium-term impulse, and thus, sales from the upper boundary of the accumulation zone should be focused on short profits. On the contrary, purchases from the lower boundary have an excellent perspective, since the main goal of growth is the weekly control zone 0.6875-0.6887.
Daily CZ – daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a…

EUR/USD testing resistance, potential drop!

Trading Recommendation
Entry: 1.10944Reason for Entry: 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance
Take Profit : 1.09994Reason for Take Profit: Horizontal overlap support, 61.8% Fibonacci retracement, 78.6% Fibonacci extension
Stop Loss: 1.11419Reason for Stop loss:horizontal swing high resistance, 78.6% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

Gold Prices Give Back Ground After Yesterday's Jump

Following the sharp increase seen in the previous session, the price of gold gave back some ground during trading on Wednesday. Gold for February delivery slipped $4.20 or 0.3 percent to $1,480.20 an ounce after jumping $15.20 or 1 percent to $1,484.40 an ounce on Tuesday. The pullback by the price of the precious metal came amid renewed optimism about trade after a report from Bloomberg News indicated the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase one trade deal. Citing people familiar with the talks, Bloomberg said U.S. negotiators expect a phase one deal to be completed before U.S. tariffs are set to rise on December 15. The people told Bloomberg outstanding issues in the talks include how to guarantee China’s purchases of U.S. agricultural goods and exactly which tariffs to roll back. Bloomberg said the people downplayed President Donald Trump’s recent remarks suggesting he would like to delay completing an agreement until after the 2020 elections, noting the president was speaking off the cuff. Selling pressure was relatively subdued, however, as traders also digested some disappointing U.S. economic data, including a report from payroll processor…

EUR/USD: weak ADP report allowed the pair’s bulls to show character

The euro-dollar pair made another attempt to leave the price range of 1.0970-1.1090 today, in which it has been trading since the beginning of November. Last week, the bears tested the lower boundary of this band, while the bulls seized the initiative this week and sent the price to the area of the 11th figure. Today’s attempt also failed – the bullish momentum faded and the pair retreated. But at the same time, it is worth recognizing that EUR/USD buyers are clearly taking advantage of the current situation: the European currency feels indirect support from the European Central Bank (which, according to rumors, is ready to adhere to a wait-and-see attitude), while the dollar is actively losing its position against the background of Donald Trump’s belligerent mood and disappointing statistics. In addition, a stream of positive news regarding Brexit’s prospects also provides indirect support to the EUR/USD pair. All this makes it possible for buyers to test multi-week highs based on a trend reversal.
However, it is too early to talk about a trend reversal. Correctional growth of the pair is now mainly due to the dollar’s weakness than the strengthening of the euro. For the US currency, the “black…