Japanese Candlesticks Analysis 24.11.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after finishing the correction and forming several reversal patterns, such as Doji, close to the support area, EURUSD is reversing. The upside target remains at 1.1970. After that, the instrument may continue moving upwards. However, an alternative scenario implies that the price may start a new pullback to return to 1.1810 before resuming the uptrend.

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Murrey Math Lines 26.11.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 3/8.

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Ichimoku Cloud Analysis 30.11.2020 (GBPUSD, BTCUSD, GBPJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3342 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud near 1.3295 is expected, followed by growth to 1.3625. An additional signal confirming the growth will be a bounce off the lower border of the Triangle pattern. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.3195, which will mean further decline to 1.3105. The growth will be confirmed by a breakaway of the resistance area and securing above 1.3415, which will mean a breakaway of the upper border of the Triangle.

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Forex Technical Analysis & Forecast 02.12.2020

EURUSD, “Euro vs US Dollar”

The pair has reached the estimated goal of the wave of growth to 1.2030. For now, the market is pushed upwards. Today, the level of 1.2085 might be reached, followed by a decline to 1.2030. If this level is broken through downwards, the price might go deeper to 1.1980. The goal is first.

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Japanese Candlesticks Analysis 04.12.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

On H4, USDCAD keeps forming a downtrend. The pair has formed several reversal patterns near the support level, including a Harami. The signals from the patterns might drive the price into a correction to 1.2920. However, the downtrend still might continue neglecting the signals, aiming at 1.2790.

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Fibonacci Retracements Analysis 08.12.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

On H4, the quotations overcame the long-term high of 1.2011 and paused in the uptrend. The pair might be on the verge of a descending correction. When it is over, we can expect a new wave of growth to a post-correctional extension range of 138.2-161.8% (1.2167-1.2262) Fibo. The main support is at the fractal level of 1.1603.

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Murrey Math Lines 10.12.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotations are trading under the 200-days Moving Average, which hints on the prevalence of a downtrend. However, the price is already in the oversold area. Hence, we expect a breakaway of 0/8 and further growth to the resistance at 2/8. This will be interpreted as a correction. The scenario can be canceled by a breakaway of -1/8 top-down, which might drive the quotations deeper down, to the support at -2/8.

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Fibonacci Retracements Analysis 15.12.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after completing a short-term pullback, EURUSD is moving towards the high to break it. The next rising wave will be heading to reach the post-correctional extension area between 138.2% and 161.8% fibo at 1.2167 and 1.2262 respectively. The key support is the fractal at 1.1603, while the short-term one is at 1.2011.

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Murrey Math Lines 17.12.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling to reach the closest support at 0/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 2/8.

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Ichimoku Cloud Analysis 21.12.2020 (XAUUSD, AUDUSD, EURUSD)

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1906.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1895.00 and then resume moving upwards to reach 1945.00. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1860.00. In this case, the pair may continue falling towards 1805.00.

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Forex Technical Analysis & Forecast 23.12.2020

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.2152 EURUSD has broken 1.2184 to the upside; right now, it is consolidating around the latter level. Possibly, the pair may break this range to the upside to reach 1.2218 and then fall to return to 1.2184. If later the price breaks this range to the upside, the market may start another growth towards 1.2330; if to the downside – resume trading downwards with the target at 1.2050.

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Murrey Math Lines 25.12.2020 (Brent, S&P 500)

Brent

As we can see in the H4 chart, Brent is still moving inside the “overbought area”. At the moment, the price is rebounding from +1/8. In this case, the asset is expected to fall and reach 7/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.

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