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Forex Forum → Market Analysis → Daily Market News by Xtreamforex.com

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Re: Daily Market News by Xtreamforex.com

Technical Analysis on EUR USD or GBP USD

EUR/USD Pair Rejected Above the Level At 1.22

The EUR/USD pair seemed on the bulls struggle to the psychological hurdle at the level by 1.22 to the third consecutive day. Moreover, the pair is currently traded at the level 1.2188 that is printed at the to the 1.2208 to the early today that seemed to the level by 1.22 handle on this Thursday and Friday.

The prompt inclination would turn bearish, opening the entryways for 1.2059 (Dec. 9 low) if the dismissal above 1.22 is trailed by a disadvantage break of the trendline ascending from Nov. 4 lows. At press time, the climbing trendline uphold is situated at 1.2166.

The pair was close above the level by 1.22 that will shift the risk in favor of the re-test of the recent to the level by high to 1.2272.

GBP/USD Pair Rising Wedge to Hourly Chart to US Brexit Optimism

GBP/USD pair stayed heavy around the level at the 1.3545 down at the level 0.08% intraday during the initial hour according to the Tokyo open on this Monday. Moreover, the pair seem to the bearish chart that will see the pattern on the hourly chart formation.

The pair multiple to the pullbacks to the level by 1.3619/24 area to the normal RSI conditions to the confirmation of the rising wedge before going to take the entries. On the other hand, the pair will see the downside break at the level 1.3525 to the 200 HMA level to the 1.3460.

On the other hand, a potential gain leeway of 1.3624 necessities to cross the upper line of the expressed rising wedge, as of now around 1.3630, to focus on March 2018 low close to 1.3710.

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