Forex analytics: Current trend
Despite the fact that the pair GBP/USD has reached the highs, investors continue to buy British currency. Following breakdown of the strong resistance level of 1.6460 the pair is likely go up to the highs of 1.6600 and 1.6740. In the last six month of 2013 growth rate of British economy has significantly accelerated, GDP in Q3 amounted to 1.9%. At the same time American economy did …
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Forex analytics: Weekly analytical video review for instruments EUR/USD, GBP/USD и USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands).
Forex analytics: Current trend
At the closing session last week the USD significantly dropped against Euro; the pair has broken down October highs of 1.3834, however failed to consolidate above this level and rolled back to the lower boundary of the ascending channel. Today the USD may slightly strengthen amid growing number of pending home sales. The pair continues to trade in the ascending channel and has …
Forex analytics: AUD/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, and they are both horizontal. Chinkou Span line has crossed the price chart from above; current cloud has reversed from ascending to descending. The pair has broken down the cloud is still falling. Tenkan-sen line (0.8880) is the closest resistance level. One of the previous minimums of Chinkou Span line is …
The EURUSD attempted to push higher last week, topped at 1.3892 but whipsawed to the downside and closed lower at 1.3737. The bias is neutral in nearest term. Immediate support is seen around 1.3715. A clear break below that area could trigger further bearish pressure testing 1.3650 – 1.3600 key support area. Immediate resistance is seen around 1.3812 followed by 1.3850.
The GBPUSD had a bullish momentum last week topped at 1.6577 but closed lower at 1.6480. The bias is neutral in nearest term probably with a little bullish bias retesting 1.6577. Immediate support is seen around 1.6460. A clear break below that area could trigger further bearish pressure testing 1.6400 but overall I remain bullish.
The USDJPY continued its bullish momentum last week, topped at 105.18 and hit another fresh high at 105.41 earlier today. The bias remains bullish in nearest term testing 106.00. Immediate support is seen around 105.00. A clear break below that area could lead price to neutral zone in nearest term testing 104.60 or lower, but any downside pullback now is normal and overall I remain bullish.
The USDCHF attempted to push lower last week, bottomed at 0.8799 but whipsawed to the upside and closed higher at 0.8909. The bias is neutral in nearest term. Immediate resistance is seen around 0.8950. A clear break above that area could trigger further bullish pressure testing 0.9000. Immediate support is seen around 0.8870 followed by 0.8800. The major bearish scenario should remain valid but I will stand aside for now.