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USDJPY daily review 21.12.2017

USDJPY pair is starting to show signs of weakness as it approaches the previous highs and the median line. For the time being the price action didn't yet exit outside the pitchfork channel lines so the up trend is still in place. A correction towards the lower channel line is expected at this point. The most likely scenario seems to be a temporary breach of the previous high and the previous high, fallowed by a more significant correction on the down side.
Hope my view helps
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GBPUSD MAY STRUGGLE AT 1.3450

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
GBPUSD Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is falling.
  • The Stochastics is rising.
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EUR/USD Loses Upside Momentum

Daily analysis
1.13 worked as support back in October and is the high line at the moment. It is followed by the swing low of 1.1220 in September which is minor resistance now.
1.1140 cushioned the pair in October. 1.1050 is the high seen in December and the next challenge on the upside.
1.10 is a round number and significant resistance. 1.0925, which was a support line in December, is the next support line. It is closely followed by 1.0880 which is weak resistance in the range.
Weekly analysi
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Day 2 - EUR/CAD Forecast

Hello traders!
Sharing my analysis about EUR/CAD.
At this right moment this pair mark: 1.4427.
We have two different decisions to make depending on which timeframe we are talking about.
H4 tiemframe:
Support: 1.4360
Resistance: 1.45300
RSI: oversold
Signal: Upside
Daily timeframe:
Support: 1.4255/1.4050
Resistance: 1.4655
Channel: down
Signal: Downside
My decision overrall is taken under short term vison.
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USD/CAD forecast

Hello community!
Today I will make my prediction for next week's USD/CAD and tell you what it will be going on with... but it is just my opinion, of course
At this right moment USD/CAD mark: 1.2911.
Next fisrt movement: upside until 1.3040. If this mark were broken then next movement will be close to 1.3240. If not it will return to 1.2851. 1.2851 is the floor. It is being a massive support since Jun/2015 and strong resistance between Jan and Apr 2015.
Look at the Weekly chart below: RSI and sup…
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USD/CHF Forecast

Good morning from Portugal
Today I will make my decision about the cross USD/CHF. At this right moment this pair mark 0.9564.
As we can see in Daily chart, we are exactly at the point of a strong support and this is an excellent opportunity to buy this pair buy now or waiting for a sweet upside candle.
The horizontal support line intersects the main longitudinal support line. In my opinion the price will rebouce to the upside but if breaks below .0,9550 then will probably go to the next support …
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NZD/USD to see some upside

Monthly chart:
Price is in a lower part of 2011 - 2014 trading range which is part of a long-term uptrend. Strong support on the downside is 100 month SMA around 0.75 and then 38.2% retracement of the March 2009 to August 2011 rally. On the upside, 20 and 50 month SMA should provide initial resistance.
Weekly chart:
After 12.5% decline in Q3 2014 the pair settled into 0.7650 - 0.8050 range. One of these two levels needs to be convincingly broken to provide direction for the next leg.
Daily char…
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al_dcdemo avatar

Update 1: The pair is nearing the lower end of the 0.7650 - 0.8050 range. The weekly candle looks bearish, but we will have to wait till next week to see whether it could break out of the range to new lows. If it doesn't and stays range-bound till the end of the year, it may still reach the target at the upper end of the range.

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Update 2: The pair broke to new lows at the beginning of this week. Then, after hawkish RBNZ, the pair rallied almost 200 pips and then corrected 100 pips lower, closing in the lower half of the 0.7600 - 0.8050 range. To get to the target of 0.8019 by year-end, continuation move is needed, dovish or not-so-hawkish Fed next week would help.

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Update 3: There was no follow through after last week's hawkish RBNZ. The hawkish Fed this week couldn't push the pair lower either. Provided that there won't be any surprises, it appears that it will settle around these levels for the year.

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GBP/USD possibility for upside likely

GBP/USD after hitting year highs near 1.72 retreated substantially. If we analyze weekly GBP/USD chart we can notice that rate is even lower than levels seen in last quarter of 2013 which was quite good support for rate at that time.
As in my opinion there is no big difference in fundamentals between now and one year ago I think rate might gradually return to those levels till end of the year. For more precise possible rate developments daily GBP/USD chart was used.
Based on assumptions above it…
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rokasltu 27 Nov

5 weeks till contest end - GBP/USD started move upwards. I think this trend will continue till the end of the year.

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4 weeks till contest end - GBP/USD recently fluctuates around 1.56-1.57 area. If it will hold I think it will go towards 1.60 subsequently.

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rokasltu 10 Dic

3 weeks till contest end - as one week before GBP/USD fluctuates in the same 1.56 - 1.57 area. It could stay there for a while but at the year end I expect this pair to go up.

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rokasltu 19 Dic

2 weeks till contest end - GBP/USD movement is actually very similar to predicted but ~300 pips lower. But at the year end I still think that GBP/USD might spike.

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AUD/USD-Turning to the upside !

  • Charts: 4 Hours, 1 Day.
  • Elements used: Fibonacci Fan Lines,Fibonacci Retracements,Supports & Resistances.
  • Prepared with : JForex 4.
  • Current Level : 0.9422
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