*Daily Forex market overviews by MasterForex.com* - page 16
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Trend analysis of the GBPUSD for 12/10/29
GBPUSD
On the 4-hour chart:
The trend channel between the lines 1 and 2 had been replaced to the lines 3 and 4. That was a strong signal for the slowdown of the downward dynamics. The trend dynamics continues at the moment. The Moving Averages show the slowdown of the growth.
On the 1-hour chart:
The pair moves in the channel between the lines 3 and 4. The testing of the support level 1.6060 is beginning at the moment. The Moving Averages prepare to give a bearish signal.
On the 15-minute chart:
The price is testing the level 1.6060 and the line 1 at the moment. The breakthrough will be a signal for sales. Moreover, players will obtain the signal for strengthening of the tendency. If the pair could rebound upwards, it will be expected the recoil to the line 2.
By MasterForex Company
Trend analysis of the EURUSD for 12/10/29
EURUSD
On the 4-hour chart:
The pair remains the bearish dynamics in the channel between the lines 1 and 2. The resistance line 3 had been formed during the decrease. The Moving Averages confirm downward trend.
On the 1-hour chart:
The pair had foothold below the level 1.2930 on Monday. The resistance line 3 had been formed after the level had been confirmed as a resistance. The price is testing the level 1.2900 at the moment. The Moving Averages show the remaining of the bearish trend.
On the 15-minute chart:
The pair is foot holding below the level 1.2900 at the moment. The break through the support will open the way for the key-level 1.2885. The trend will remain ad traders will gain the signal for sales in the case of the breakthrough. The rebound from the level 1.2885 will mean the beginning of the consolidation between the level and the resistance line 1.
By MasterForex Company
Trend analysis of the USDCAD for 12/10/29
USDCAD
On the 4-hour chart:
At the end of the previous week, the pair pierced the resistance area 0.9941/53 and the level 0.9981. In case of holding above the level and growth resumption, it will be possible to talk about the forming of the support line. The moving averages continue to show the intensive ascending trend.
On the 1-hour chart:
After the piercing of the level 0.9981, the pair started the correction of ascending trend, clamped between the support line 1 and resistance line 2. The price has got close to the line 1. The moving averages are still having a bullish bias.
On the 15-minute chart:
During the Asian session, the pair was demonstrating the consolidation between the resistance level 0.9993 and the support line 1. The piercing of resistance will confirm the end of correction. Otherwise, the resumption of flat is likely.
By MasterForex Company
Trend analysis of the AUDUSD for 12/10/29
AUDUSD
On the 4-hour chart:
The pair failed with holding below the level 1.0321, finished the previous week by intensive growth and piercing of the level 1.0348. The current week started with small decline. The moving averages confirm the flat with weak bullish tilt.
On the 1-hour chart:
The pair is fluctuating in flat between the resistance level 1.0366 and support level 1.0348 since the Friday’s end. Now the price got close to the bottom of the corridor and started the testing. The moving averages are showing the flat.
On the 15-minute chart:
The fluctuating pair formed the resistance line 1. The pattern “triangle” could be clearly seen on the chart. The piercing of the support level 1.0348 will be a strong bearish signal, while the break through the resistance can cause the intensive growth.
By MasterForex Company
Trend analysis of the USDJPY for 12/10/29
USDJPY
On the 4-hour chart:
The pair finished the previous week by sharply falling. Losing about 70 pips the price pierced the levels 80.10 and 79.75 and confirmed the level 79.59 as a support. The moving averages are changing the direction to horizontal.
On the 1-hour chart:
On Friday, the pair formed the descending trend channel by the lines 1 and 2, which was pierced at the beginning of the current week. The price is operating between the levels 79.75 and 79.59. The pair pierced the support line of ascending trend 3. The moving averages provided a bullish signal.
On the 15-minute chart:
During the Asian session, the pair was fluctuating in flat between the levels 79.75 and 79.59. The piercing of resistance will open a way to the level 79.85. Next support lies at 79.34.
By MasterForex Company
Trend analysis of the USDCHF for 12/10/30
USDCHF
On the 4-hour chart:
The dynamics in the channel between the lines 1 and 2 is remaining. The resistance level 0.9370 had been reached during the increase and recoiled downwards. The pair places near the cross of the level 0.9340 and the line 1 at the moment. The Moving Averages show the remaining of the bullish trend.
On the 1-hour chart:
The pair moved out of the channel between the lines 1 and 2 with the decrease below the support line. The price is foot holding below the line and the level. The Moving Averages prepare to give a bearish signal.
On the 15-minute chart:
The price is fixing the break through the level 0.9340 and the support line 1 at the moment. If the decrease could continue, traders will gain the signal for the reverse downwards. The sales will start after the final signal from the Moving Averages. If the price could arrive back into the channel, the break through the level 0.9350 will be strong signal for purchases.
By MasterForex Company
Trend analysis of the GBPUSD for 12/10/30
GBPUSD
On the 4-hour chart:
The pair moves in the channel between the lines 3 and 4. The price dropped to the level 1.6025 during the trend dynamics and the direction of the dynamics reversed upwards. The Moving Averages show the formation of the flat dynamics.
On the 1-hour chart:
The testing of the support level 1.6025 had been unsuccessful and the pair reversed upwards. After that the price increased to the cross of the line 5 and the level 1.6060. The Moving Averages show the slowdown of the decrease.
On the 15-minute chart:
There has been recoil from the cross of the line 3 and the level 1.6060. If the pair could rebound downwards and could break the levels 1.6025 and 1.6005 players will start active sales. If the resistance level and the line 3 could be broken, traders will gain the signal for continuation of the reverse upwards.
By MasterForex Company
Trend analysis of the AUDUSD for 12/10/30
AUDUSD
On the 4-hour chart:
The dynamics within the bullish channel between the lines 1 and 2 continues. Earlier the pair pierced the resistance line 3. The price confirmed the line 3 and level 1.0330 as a support. The moving averages are suggesting the bullish trend.
On the 1-hour chart:
At the beginning of the day, the pair recoiled upwards from the level 1.0330. During the growth, the price pierced the level 1.0360, which was the signal to continue the bullish trend. The moving averages provided the signal of the upward dynamics.
On the 15-minute chart:
During the growth, the pair reached the level 1.0380 and the correction started. In case of the downward recoil continuation, the pair can fell to the support level 1.0360. In case of the resistance piercing, the pair will continue to grow. The buying will start from the level 1.0390.
By MasterForex Company
Trend analysis of the EURUSD for 12/10/30
EURUSD
On the 4-hour chart:
The dynamics in the channel between the lines 1 and 2 is remaining at the moment. Resistance line 3 had been broken after the rebound from the level 1.2900. The pair recoiled to the resistance level 1.2930. The Moving Averages show a bearish trend.
On the 1-hour chart:
The pair started the day in the correction between the levels 1.2890 and 1.2915. The pair increased to the cross of the resistance line 2 with the level 1.2945 after the next rebound from the support level. The Moving Averages confirm deep correction.
On the 15-minute chart:
The pair is testing the line 2 and the level 1.2945 at the moment. If the resistance could be broken, traders will expect the further reverse dynamics. In the case of the rebound downwards the trend will continue and the break through the level 1.2930 will be a signal for the beginning of the purchases.
By MasterForex Company
Trend analysis of the USDJPY for 12/10/30
USDJPY
On the 4-hour chart:
The pair left the ascending channel between the lines 1 and 2. After the piercing, pair fell to the level 79.60 and then grew until the level 79.95. Then the price continued the bearish dynamics and reached the support at the level 79.40. In addition, the lines 3 and 4 were formed. The moving averages are suggesting the turn down.
On the 1-hour chart:
The pair started the day with the growth, but after reaching the level 79.95, the sharply falling to the level 79.40 followed. Now the price is testing the support level. The moving averages are showing the bearish trend.
On the 15-minute chart:
Now the price is gaining the foothold below the level 79.40. If the pair will resume falling, traders keep the short positions opened. The first landmark will be the line 1 and level 79.20. If the price will move above the level 79.40, the forming of the flat between the levels 79.40 and 79.53 starts.
By MasterForex Company