InvestMacro

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, the market renewed the last important high of 1.3482, but after a divergence the quotations started pulling back. When the correction is over, the growth might resume to the long-term level of 76.0% (1.3664) and then – to the post-correctional extension area of 138.2-161.8% (1.3792-1.3980) Fibo. The local resistance is at 1.3539.

On H1, we can see a correctional phase beginning. The first fast impulse of decline has reached 38.2% Fibo. Further falling might be aimed at 50.0% (1.3196) and 61.8% (1.3115), but the correctional growth we see might turn into a full-scale new wave of growth aiming above the peak of 1.3539.

EURJPY, “Euro vs Japanese Yen”

On H4, the wave of growth has stopped developing near the high of 127.07. After this high is broken, the quotations might rise to the medium-term level of 61.8% (128.65), and after it is broken – to the upper post-correctional extension range of 138.2-161.8% (129.15-130.40) Fibo. The main support is at the fractal low of 121.62.

On H1, the pair demonstrates sideways correctional dynamics inside a short-term local post-correctional extension area of 138.2-161.8% (126.02-126.56) Fibo. Then we expect a breakaway of the upper border of the current flat and a rise to the high of 127.07.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

GOLD is trading at 1859 above the Ichimoku Cloud, suggesting an uptrend. A test of the lower border of the Cloud at 1850 is expected, followed by growth to 1900. An additional signal supporting the growth can be a bounce off the lower border of the ascending channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 1835, which will entail further falling to 1805.

CADJPY, “Canadian Dollar vs Japanese Yen”

The currency pair is trading at 81.36 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 81.10 is expected, followed by growth to 82.25. An additional signal supporting the growth can be a bounce off the lower border of the ascending channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 79.85, which will entail further falling to 79.05.

NZDUSD, “New Zealand Dollar vs US Dollar”

The currency pair is trading at 0.7066 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 0.7055 is expected, followed by growth to 0.7195. An additional signal supporting the growth can be a bounce off the lower border of the ascending channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 0.6975, which will entail further falling to 0.6895.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Lukman Otunuga, Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

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.

На 1-часовом графике EURUSD можно рассмотреть начало нисходящей коррекции после дивергенции на MACD. Первая волна спада нацелена на уровень 23,6% по шкале Фибоначчи (1,2043), а следующая может направиться к уровням 38,2% (1,1958) и 50,0% (1,1890). Прорыв максимума на 1,2178 станет сигналом продолжения восходящей тенденции.

USDJPY, “US Dollar vs Japanese Yen”

On H4, the technical picture of the pair has hardly changed since a week ago. The pair keeps forming a consolidation channel. As long as there is a convergence on the MACD, we can expect the market to be preparing another wave of growth to 38.2% (106.43), 50.0% (107.44) Fibo. The main support is at 103.17, a breakaway of which will open a pathway down to the fractal low of 101.18.

On H1, there is a sideways movement going between 61.8% (104.91) and the low of 103.65. A breakaway of the highs might open a pathway to 76.0% (105.19) and the fractal level of 105.68. A breakaway of the local low at 103.65 might let the quotations decline to the main low of 103.17.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations are trading above the 200-days Moving Average, indicating an uptrend. We expect a breakaway of 6/8 and further growth of the quotations to the resistance level of 8/8. The scenario might be canceled by a breakaway of 5/8 top-down, which will drive the price down to the support at 4/8.

On M15, a breakaway of the upper border of the VoltyChannel indicator will additionally support the growth.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotations are trading above the 200-days Moving Average and near 6/8. A breakaway of this level might catalyze further growth to the resistance level at 8/8. This scenario might be canceled by a breakaway of the support at 5/8. In this case, the quotations might decline to 4/8.

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of the growth of the price.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Lukman Otunuga, Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2125
• Prev Close: 1.2109
• % chg. over the last day: -0.13%

On Monday, the EUR/USD price failed to bounce above the SMA 50 and SMA 100 averages. Having closed the day lower on the H1 timeframe, it is indicated that bears are still prevailing, and the southern pattern remains a priority on Tuesday. The MACD indicator is in the negative zone. Stochastic indicates short-term oversold, which states a pullback or consolidation around 1.2110.

Trading recommendations

• Support levels: 1.2040, 1.1924
• Resistance levels: 1.2175, 1.2167

The main scenario for trading EUR/USD is selling on growth. There is now a pullback after the first southern impulse. Fundamental and technical background continues to point more towards the south. Targets – 1.2040 intraday and 1.1924 mid-term.

Alternative scenario: if the price fixes above the level of 1.2135 on the H1 timeframe, the currency pair is likely to return to the growth to 1.2175.

News feed for 2020.12.08:

• – ZEW Economic Sentiment Index in Germany at 12:00 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3426
• Prev Close: 1.3383
• % chg. over the last day: -0.32%

On Monday, sterling recovered most of its losses amid officials’ statements that a deal is still possible. The asset has left a long shadow at the bottom, which is a little confusing. But the day closed confidently below SMA 100 and SMA 50. On the pullback from the bearish momentum, Stochastic reacted by quickly hitting the overbought area. The MACD was unable to return to the positive zone, all technical indicators demonstrate the dominance of bears.

Trading recommendations

• Support levels: 1.3196
• Resistance levels: 1.3404, 1.3439

The main scenario: selling on growth. The southern impulse has weakened but remained dominant in the sterling. Buyings remain the most dangerous until the price fixes above 1.3400.

Alternative scenario: if the price consolidates above 1.3400, you can consider buying the asset.

News feed for 2020.12.08:

• There is no newsfeed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 104.17
• Prev Close: 104.05
• % chg. over the last day: -0.12%

On Monday, the pair failed to hold on to its regained positions, and the price closed just below its opening. Market concerns took a piece of the action, and defensive assets were in demand. However, this didn’t affect USD/JPY that much. Price changes are minimal. Stochastic moves quickly from oversold to overbought levels and back. The MACD is neutral. Everything points to continuing trading in a narrow range.

Trading recommendations

• Support levels: 103.83, 103.68
• Resistance levels: 104.74

The main trading scenario for the pair – trading in a sideways range. Due to the rapid change in the market sentiment to negative, a decrease to the support level 103.68 in the first place and another rebound to the current levels is possible.

An alternative scenario assumes consolidation above the level of 104.20 and the resumption of growth to 104.74.

News feed for 2020.12.08:

• There is no newsfeed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2781
• Prev Close: 1.2797
• % chg. over the last day: -0.13%

On Monday, the asset showed low volatility. The pair failed to fix above the moving averages. The MACD remains in the negative zone. Stochastic is neutral. The bullish sentiment is still weak and you should probably be careful with purchases, although the pair seems to be significantly oversold.

Trading recommendations

• Support levels: 1.2770
• Resistance levels: 1.2835, 1.2886, 1.3026

The main scenario: we recommend considering buying an asset as part of the correction after it fixes above the average SMA 50 and SMA 100 on the H1 timeframe, or from the support level 1.2770 with a short stop-loss.

Alternative scenario: if the price can break through the support of 1.2770, it’s likely to continue falling to 1.2527.

News feed for 2020.12.08:

• There is no newsfeed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga, Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By Orbex

USDCAD Battered by Risk Rally

Hopes of recovery have reached a new high bolstered by vaccine headlines, second reopening across Europe, and unwavering government aid. This bullish fever in risky assets continues to be detrimental to the greenback.

In contrast, its Canadian counterpart reaps the benefit of increased risk appetite and higher oil prices. Additionally, the expectation that the Bank of Canada may maintain its current policy is another tailwind for the loonie.

Following a bearish break below 1.2970, the pair is tumbling towards 1.27s, the trough from early 2018. Any rebound is likely to meet stiff selling pressure along 1.3000.

GBPCHF on Thin Ice as No-Deal Looms

The Sterling has repeatedly tested last June’s high as Brexit headlines ebbed and flowed. Traders are unlikely to commit beyond the 5-month long trading range unless there is a substantial catalyst.

The UK is under pressure this week to secure a deal if the government wants to have it ratified in Parliament by the end of the year. As France threatens to veto a ‘bad deal’ in regards to fishing rights, the margin for compromise seems rather limited.

A last-minute breakthrough would lift the pound above 1.2200 with a surge in momentum. Failing that, the current downside bias would prevail and trigger a sell-off into 1.16s.

EURNZD Lifts Ahead of ECB Meeting

The single currency rallied across the board as the bloc emerged from a second lockdown before Christmas. Ongoing sell-off of the US dollar and vaccine-fuelled optimism may have helped the euro fare better. More importantly, investors are repositioning in anticipation of new ECB actions this week.

The central bank is expected to support devastated economies and cement market confidence, probably by extending liquidity and its timeframe. An assertive ECB may actually back the euro in its bounce off the psychological support of 1.7000. On the upside, 1.7550 is a major resistance that short-term bulls need to be aware of.

AUDJPY Climbs on Weak Japanese Outlook

Improving risk sentiment and a weak Japanese economy favor the Australian dollar. Japan’s latest inflation has remained soft, at 0% well below the Bank of Japan’s target of 2%.

The economy’s recovery could stay fragile for an extended period of time as markets forecast an 8.1% GDP contraction for Q3. Signs of actual stagnation could keep the yen underwater as traders follow the uptrend of a more dynamic Aussie.

The pair is pushing towards last September’s high of 78.20, and a bullish breakout may trigger an extended rally. On the downside, 76.50 is the immediate support level in case of a retracement.

By Orbex

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

Cloud near 18,915 is expected, followed by growth to 20,715. An additional signal for growth might be a bounce off the lower border of the Triangle pattern. The growth might be canceled by a breakaway of the lower border of the Cloud and securing under 17,855, which will mean further falling to 17,055. The growth can be confirmed by a breakaway of the upper border of the Triangle and securing under 19,895.

BRENT

Oil is trading at 49.07 above the Ichimoku Cloud, indicating an uptrend. A test of the upper border of the Cloud near 48.75 is expected, followed by growth to 50.80. An additional signal for growth might be a bounce off the lower border of ascending channel. The growth might be canceled by a breakaway of the lower border of the Cloud and securing under 47.75, which will mean further falling to 44.75.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 104.08 under the Ichimoku Cloud, indicating a downtrend. A test of the upper border of the Cloud near 104.20 is expected, followed by falling to 103.15. An additional signal for the decline might be a bounce off the resistance level. The decline might be canceled by a breakaway of the upper border of the Cloud and securing above 104.55, which will mean further growth to 105.45. The decline can be confirmed by a breakaway of the lower border of the Triangle and securing above 103.55.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.