*Daily Forex market overviews by MasterForex.com* - page 11
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TREND ANALYSIS OF THE EURUSD FOR 12/10/15
EURUSD
On the 4-hour chart:
The upward tendency in the channel between the lines 1 and 2 is remaining now. The price arrived to the channel and continued to increase to the moment. Moreover, it observes the consolidation between the lines 1 and 3. The Moving Averages show flat character of the dynamics.
On the 1-hour chart:
The price reached the resistance area 1.2990/1.3000 at the second part of Friday and rebounded downwards. The pair reversed upwards and continued to increase with the recoil from the support level 1.2900. The price places between the levels 1.2945 and 1.2965. The Moving Averages show the remaining of the upward tendency.
On the 15-minute chart:
The price is placing between the level 1.2945 and 1.2965 at the moment. If the resistance level could be broken the growth will remain. The next resistance places at the level 1.2990. If the support could be broken the price will decrease to the lines 1 and 2.
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TREND ANALYSIS OF THE USDCAD FOR 12/10/16
USDCAD
On the 4-hour chart:
The pair continues to fluctuate in flat between the support level 0.9775 and the resistance line 1. The price is testing the level 0.9808 ones again. The moving averages are still showing the flat character of the dynamics.
On the 1-hour chart:
Yesterday falling finished by the recoil from the support area 0.9775/1, which helped the pair to gain more than 40 pips. The resistance line 1 restricted the growth. The moving averages are changing the bullish tilt to flatter confirming the correction of the ascending tendency.
On the 15-minute chart:
During the Asian session, the pair was demonstrating the mixed dynamics. In the last hours, the price was consolidating at the level 0.9808. The piercing of the resistance line will be a signal of the flat ending. In this case, traders will start to buy. The nearest support lies at 0.9787.
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TREND ANALYSIS OF THE AUDUSD FOR 12/10/16
AUDUSD
On the 4-hour chart:
After the recoil from the support line 1 at the beginning of the week, the pair started the intensive growth. The price is testing the top border of the flat corridor between the levels 1.0204 and 1.0271. The moving averages are still showing the flat.
On the 1-hour chart:
The growing price formed the ascending trend channel by the support line 1 and the resistance line 2. The pair started the intensive testing of the large resistance area 1.0271/87. The moving averages have given the strong bullish signal.
On the 15-minute chart:
During the Asian session, the pair saved the bullish bias. The testing of the area 1.0278/87 is continuing. The price herewith got close to the resistance line 1, which increases the chance to turn to the correction phase. In case of foothold of the pair above the level 1.0287, traders will continue to buy.
By MasterForex Company
TREND ANALYSIS OF THE USDJPY FOR 12/10/16
USDJPY
On the 4-hour chart:
The pair continues the growth started on Monday. The ascending trend line 1 has been formed. The price broke the previous local high 78.86 and now is getting close to the resistance level 78.99. The moving averages are showing the intensive bullish trend.
On the 1-hour chart:
The support line 1 restricted the decline, which American session finished with. The followed recoil helped the pair to gain more than 20 pips. It is too early to talk about forming of resistance line. The moving averages are showing the ascending tendency resumption.
On the 15-minute chart:
During the Asian session, the pair was growing within the ascending trend channel between the lines 1 and 2. The mixed dynamics of the last hours suggests the correction of the bullish tendency. In case of recoil from the support line 1, traders will resume to buy with the aim at the level 78.99.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/10/16
USDCHF
On the 4-hour chart:
The pair is remaining to decrease in the channel between the lines 1 and 2. The lines 3 and 4 had been broken during the dynamics and the price dropped to the support level 0.9295. The price is testing the level 0.9295 now. The Moving Averages gave a bearish signal.
On the 1-hour chart:
The pair rebounded downwards from the level 0.9340 at the second part of Monday and dropped to the line 3. After that it started the testing of the line. The lines 3 and 4 had been broken later and the pair decreased to the support level 0.9295. The testing of the level is remaining now. The Moving Averages show the continuation of the bearish trend.
On the 15-minute chart:
The pair tests the support at the level 0.9295. It will be opened the way to the level 0.9280 and 0.9260 in the case of the break through the level 0.9295. The break through the levels will be a signal for sales. If the level 0.9295 could not be broken it will start the consolidation between the line 2 and present support level.
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TREND ANALYSIS OF THE GBPUSD FOR 12/10/16
GBPUSD
On the 4-hour chart:
The pair remains to correct in the trend channel between the lines 1 and 2. The price increases along the support line of the correction 3. The pair increased above the previous local high level 1.6093 to the moment. The Moving Averages show the slowdown of the bearish trend.
On the 1-hour chart:
The price rebounded from the line 2 and confirmed it as a support at the beginning of the day. After that the growth continued. As a result, the pair increased above the resistance area 1.6093/1.6100. The Moving Averages remain the bullish tone.
On the 15-minte chart:
It is expecting the foothold of the price above the level 1.6100 at the moment. If the pair could confirm the break through the level, traders will expect the further growth to the resistance line 3 on the 1-hour chart. After that it predicts the rebound downwards with the continuation of the trend dynamics. If the pair could drop below the area 1.6093/16100, the consolidation will continue.
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TREND ANALYSIS OF THE EURUSD FOR 12/10/16
EURUSD
On the 4-hour chart:
The bullish dynamics in the channel between the lines 1 and 2 is remaining now. The pair increases along the support line 3 and approaches to the resistance line 4. The Moving Averages show flat character of the dynamics.
On the 1-hour chart:
The pair is remaining to increase confident now. The levels 1.2965 and 1.2990 had been broken today. It expects the foothold of the price above the resistance area 1.2990/1.3000. The Moving Averages show the remaining of the bullish trend.
On the 15-minute chart:
The pair is testing a resistance level 1.3000 at the moment. If the level could be broken, the price will increase to the resistance line 3 on the 1-hour chart. The break through the line will be a strong signal for the remaining of the growth. The break through the lines 1, 2 and 3 and through the level 1.2900 will be the signals for the reverse downwards.
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TREND ANALYSIS OF THE AUDUSD FOR 12/10/17
AUDUSD
On the 4-hour chart:
The pair pierced the level 1.0271 after the short testing and continued the growth. The ascending dynamics was restricted by the resistance line 1. In addition: the line 2 and level 1.0321 are lying on the way of the price. The moving averages have given the bullish signal.
On the 1-hour chart:
The pair slowed the growth down near the resistance line of the short-term ascending trend 1. The closest support level lies at 1.0287, while the resistance could be found at 1.0321. The moving averages are showing the intensive bullish trend.
On the 15-minute chart:
In the second half of the Asian session, the bullish trend slowed down significantly, suggesting the probably impendence of the technical correction. The piercing of the level 1.0321 and the line 2 on the 4-hour chart will be a signal of the growth resumption.
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TREND ANALYSIS OF THE USDJPY FOR 12/10/17
USDJPY
On the 4-hour chart:
After the recoil from the resistance line 1, the pair pierced the support line 2. The followed decline took away about 25 pips, which approximately is a half of weekly gain of the pair. The moving averages are confirming the deep correction of ascending trend.
On the 1-hour chart:
The beginning of the correction was accompanied by forming of the new resistance level 78.91. The line 1 restricted the lowering. The moving averages have changed the tilt to bearish.
On the 15-minute chart:
During the Asian session, the pair was demonstrating the bearish dynamics. The level 78.76 was pierced after the short testing. The price failed with lowering below the previous local low at 78.61. Spectaculars will continue the bullish trading after piercing of the level 78.76 upwards.
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TREND ANALYSIS OF THE USDCAD FOR 12/10/17
USDCAD
On the 4-hour chart:
After the piercing of the resistance line 1, the pair continued the confident growth. The price grew above the resistance level 0.9852 and now tries to hold the ground. The pair recorded the weekly high at 0.9877. The moving averages have given the clear bullish signal.
On the 1-hour chart:
The growth pair found the resistance at the level 0.9872, recoil from which caused the correction of ascending trend. The pair is testing the level 0.9852. Herewith the downward dynamics can be restricted by the support line 1. The moving averages started to change the tilt to flatter.
On the 15-minute chart:
During the Asian session, the pair was moving in flat between the resistance level 0.9852 and support level 0.9852. Now the bottom of the corridor is under testing. The piercing of the diapason borders will be a signal of the flat end.
By MasterForex Company