*Daily Forex market overviews by MasterForex.com* - page 12
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TREND ANALYSIS OF THE USDCHF FOR 12/10/17
USDCHF
On the 4-hour chart:
The pair remains to decrease in the channel between the lines 1 and 2. The key levels 0.9305 and 0.9280 had been broken during the decrease. The Moving Averages show the remaining of a bearish tone.
On the 1-hour chart:
The pair corrected from the level 0.9285 to the resistance level 0.9283. The bearish dynamics continued and the price had broken the support level 0.9258. The pair dropped to a low border of the channel 1. After that it had started the correction between the levels 0.9229 and 0.9244. The Moving Averages show a bearish trend.
On the 15-minute chart:
The pair corrects in the channel between the level 0.9229 and 0.9244. If the high border could be broken, the pair will start the recoil in the direction of the resistance line 1, 2 and 3. If the pair could break the support, trend dynamics will continue along the line 4. The break through the line 4 will be a signal for the acceleration of the trend.
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TREND ANALYSIS OF THE GBPUSD FOR 12/10/17
GBPUSD
On the 4-hour chart:
The pair remains to move in the downward channel between the lines 1 and 2. The price reached the resistance line of the channel during the correction. The Moving Averages gave a bullish signal.
On the 1-hour chart:
The pair reached a daily high level 1.6120 and recoiled to the support line1. After that the growth continued and the pair reached the resistance line of the trend channel 3 to the moment. The Moving Averages show a bullish trend.
On the 15-minte chart:
The pair clamped between the trend line 3 and the support line of the correction 2. If the high border could be broken, it will be a slowdown of the trend. According to the main forecast it expects the rebound from the trend line and continuation of the trend. The first confirmation will be a break through the support line 2; the second signal will be the foothold of the pair below the level 1.6120. The final signals will be the break through the line 1 and the level 1.5985. However, traders could start to open the positions before the final signals since the channel is large enough.
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TREND ANALYSIS OF THE EURUSD FOR 12/10/17
EURUSD
On the 4-hour chart:
Bullish dynamics between the lines 1 and 2 is remaining at the moment. Previous local high level 1.3050 and the level 1.3070 had been broken during the growth. The Moving Averages show an upward dynamics.
On the 1-hour chart:
The pair increased to the resistance 1.3060 after the break through the level and corrected to the level 1.3020. After that the price had broken the resistance area 1.3060/70 with the confirmation of the level 1.3020 as a support. The price reached the resistance line of the channel 2 and recoiled to the support line 3 today. The pair rebounded from the cross of the level 1.3090 with the support line of the channel and the growth continued. The Moving Averages show strong bullish trend.
On the 15-minute chart:
The pair increases between the lines 1 and 2. The resistance level 1.3120 had been reached to the moment. If the level could be broken, the trend will remain and traders will continue the purchases. It will be expected the drop to the line 1 in the case of the rebound downwards. The level will be determined as a border of the consolidation.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/10/18
USDCHF
On the 4-hour chart:
The pair is remaining to move in the channel between the lines 1 and 2. The fluctuations place in the channel between the lines 3 and 4 as well. The price corrects at the moment. The Moving Averages show the bearish trend.
On the 1-hour chart:
The pair broke the level 0.9229 and reached the support 0.9220 during the decrease. After that it was recoil to the level 0.9244. The support line 3 had been formed as well. The Moving Averages show the slowdown of the decrease.
On the 15-minute chart:
The price clamped between the support line of the correction 1 and the level 0.9244. If the level could be broken the pair will continue to correct. Traders will expect the recoil to the resistance line 2 on the 1-hour chart. If the support line of the correction and the level 0.9220 could be broken, the trend will continue.
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TREND ANALYSIS OF THE GBPUSD FOR 12/10/18
GBPUSD
On the 4-hour chart:
The pair moved out of the trend channel between the lines 1 and 2 by the overcome of the high border during the correction. After that it had been a rebound from the level 1.6155 and the pair arrived back into the channel. According to the character of the dynamics, the channel could enlarge.
On the 1-hour chart:
The pair reached the resistance level 1.6175 and rebounded downwards at the second part of Wednesday. The price arrived into the channel between the lines 1 and 2 on the 4-hour chart. The resistance line 4 had been formed as well. The Moving Averages reverses downwards.
On the 15-minute chart:
The pair is testing the support level 1.6120 at the moment. If the level could be broken, the decrease will continue and aggressive traders will start to open short positions. If the pair could break through the lines 1 and 2 and the level 1.6175, bullish dynamics will continue. The purchases will start from the level 1.6175 in the case
By MasterForex Company
TREND ANALYSIS OF THE EURUSD FOR 12/10/18
EURUSD
On the 4-hour chart:
The pair is remaining to move in the trend channel between the lines 1 and 2. It started the correction between the lines 3 and 4 from the level 1.3130 during the upward tendency between the lines 3 and 4. The Moving Averages show bullish trend.
On the 1-hour chart:
The pair reached the resistance level 1.3130 and rebounded downwards on the second part of Wednesday. The resistance line of the correction 3 had been formed during the decrease. The price recoiled to the resistance line and continued to decrease after the collapse with the support level 1.3090. The testing of the support level is continuing at the moment. The Moving Averages show the slowdown of the decrease.
On the 15-minute chart:
The pair had broken the support line 1, which was the first reverse signal. If had been formed the resistance line of the correction 3 during the decrease. The price decreased to the level 1.3090 and recoiled to the line 3. After that the testing continued. The pair approaches to the support line 4. If the line 3 and the level 1.3130 could be broken, traders will start purchases. If the line 4 and the level 1.3090 could be broken, aggressive traders will start sales.
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TREND ANALYSIS OF THE USDCAD FOR 12/10/18
USDCAD
On the 4-hour chart:
The pair failed with the foothold above the level 0.9852 and lowered until the key support level 0.9775, continuing herewith the large flat tendency. The total losses for the last day were about 90 pips. The moving averages are confirming the flat.
On the 1-hour chart:
The flat between the resistance level 0.9872 and the support level 0.9852 finished with piercing of later. The followed falling caused the piercing of the level 0.9808. The price met the support at the area 0.9775/1. The moving averages provided the clear bearish signal.
On the 15-minute chart:
During the Asian session, the pair was demonstrating predominantly flat dynamics between the resistance level 0.9787 and support area 0.9775/1. The piercing of the corridor borders will be a signal to continue trading in respective direction.
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TREND ANALYSIS OF THE AUDUSD FOR 12/10/18
AUDUSD
On the 4-hour chart:
During the growth, which started on Monday, the pair pierced the levels 1.0321 and 1.0348 as well as the lines 1 and 2. The price met the resistance at the level 1.0388 near the line 3. The moving averages continue to show the intensive ascending trend.
On the 1-hour chart:
The pair left the narrow ascending channel between the lines 1 and 2 and returned to the larger channel between the lines 3 and 4. The price started to test the resistance level 1.0388. The moving averages have begun to change the tilt to flatter suggesting the correction.
On the 15-minute chart:
During the Asian session, the pair was fluctuating in flat between the levels 1.0388 and 1.0365 within the technical correction of upward trend. Spectaculars will continue to buy after the foothold of the price above the resistance level.
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TREND ANALYSIS OF THE USDJPY FOR 12/10/18
USDJPY
On the 4-hour chart:
The pair recoiled from the support line of ascending trend 1 backed by the line 2 and demonstrated 50-pip growth. The price found the resistance in the intersection of the level 79.19 with the line 3. The moving averages are showing the intensive bullish trend.
On the 1-hour chart:
The pair continues the movement within the ascending trend channel between the support line 1 and resistance line 2. After the recoil from the line 2 and level 79.19, the price turned to the phase of technical correction. The moving averages are still showing the bullish trend.
On the 15-minute chart:
The piercing of the support line 1 was the beginning of the correction period of ascending trend. The price was demonstrating predominantly flat dynamics in the second half of the Asian session. Spectaculars will continue the bullish trading after the trend resumption.
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TREND ANALYSIS OF THE USDCAD FOR 12/10/19
USDCAD
On the 4-hour chart:
The pair recoiled from the key support level 0.9775 and got back to the resistance level 0.9852. The testing of the resistance lasts for a few hours. The price returned all the pips gained for the week. The moving averages turned upwards.
On the 1-hour chart:
The pair continued the large flat between the support area 0.9775/1 and the resistance level 0.9872. The price pierced the level 0.9852 and rushed towards the next resistance. The moving averages have given another strong bullish signal.
On the 15-minute chart:
During the Asian session, the pair was consolidating near the level 0.9852. The followed growth caused the resumption of bullish trading. The nearest resistance lies at 0.9872. In case of another turn down, spectaculars will start to sell.
By MasterForex Company