Daily Analysis for major pairs
- Thread starter Wanja
- Start date
- Watchers 2
NZD/USD Technical Analysis for December 30, 2015
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, it is recommended to open long positions with the first target at 0.6890 and the second target at 0.6920. In the alternative scenario, it is recommended to open short positions with the first target at 0.6805, if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6780. The pivot point is at 0.6835.
Resistance levels: 0.6890, 0.6920, 0.6950
Support levels: 0.6805, 0.6780, 0.6755
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, it is recommended to open long positions with the first target at 0.6890 and the second target at 0.6920. In the alternative scenario, it is recommended to open short positions with the first target at 0.6805, if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6780. The pivot point is at 0.6835.
Resistance levels: 0.6890, 0.6920, 0.6950
Support levels: 0.6805, 0.6780, 0.6755
Another View on USD/JPY for December 30, 2015
Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 120.00. A break of that target will move the pair further downwards to 119.75. The pivot point stands at 120.75. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 121 and the second target at 121.30.
Resistance levels: 121.00, 121.30, 121.75
Support levels: 120.00, 119.75, 119.35
Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 120.00. A break of that target will move the pair further downwards to 119.75. The pivot point stands at 120.75. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 121 and the second target at 121.30.
Resistance levels: 121.00, 121.30, 121.75
Support levels: 120.00, 119.75, 119.35
EUR/NZD analysis for December 30, 2015
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6070
R2: 1.6095
R3: 1.5985
Support levels:
S1: 1.5990
S2: 1.5970
S3: 1.5930
Trading recommendations : Buying EUR/NZD looks very risky at this stage since the price confirmed the head-and-shoulders formation. Watch for potential selling opportunities.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6070
R2: 1.6095
R3: 1.5985
Support levels:
S1: 1.5990
S2: 1.5970
S3: 1.5930
Trading recommendations : Buying EUR/NZD looks very risky at this stage since the price confirmed the head-and-shoulders formation. Watch for potential selling opportunities.
USD/CAD for December 30, 2015
Support/Resistance:
1.4041 - WR2
1.4000 - Intraday Resistance
1.3927 - WR1
1.3870 - Weekly Pivot
1.3815 - Intraday Support
1.3748 - WS1
1.3693 - WS2
Trading recommendations:
Yesterday traders were closed on profit.
For today, day traders should continue buying on dips in this market with SL below the level of 1.3870 and TP at the level of 1.4000.
Support/Resistance:
1.4041 - WR2
1.4000 - Intraday Resistance
1.3927 - WR1
1.3870 - Weekly Pivot
1.3815 - Intraday Support
1.3748 - WS1
1.3693 - WS2
Trading recommendations:
Yesterday traders were closed on profit.
For today, day traders should continue buying on dips in this market with SL below the level of 1.3870 and TP at the level of 1.4000.
[URL deleted]Trade Idea Update: USD/CHF - Stand aside
Dollar's retreat from 1.0083 (yesterday's high) has retained our view that further choppy consolidation within recent established range would be seen and below 0.9990 would suggest the rebound from 0.9958 has ended, bring another fall towards this level. Looking ahead, a drop below this support would turn outlook bearish and signal the rebound from 0.9881 is over, then fall to 0.9920-25 would follow.
On the upside, above 1.0040-45 would bring test of the upper Kumo (now at 1.0062) but only break there would signal the retreat from 1.0083 has ended, bring another test of this level, then towards resistance at 1.0107, however, as broad outlook remains consolidative, upside should be limited to previous resistance at 1.0125, bring further choppy trading later. As near term outlook is still mixed, would be prudent to stand aside in the meantime.
Dollar's retreat from 1.0083 (yesterday's high) has retained our view that further choppy consolidation within recent established range would be seen and below 0.9990 would suggest the rebound from 0.9958 has ended, bring another fall towards this level. Looking ahead, a drop below this support would turn outlook bearish and signal the rebound from 0.9881 is over, then fall to 0.9920-25 would follow.
On the upside, above 1.0040-45 would bring test of the upper Kumo (now at 1.0062) but only break there would signal the retreat from 1.0083 has ended, bring another test of this level, then towards resistance at 1.0107, however, as broad outlook remains consolidative, upside should be limited to previous resistance at 1.0125, bring further choppy trading later. As near term outlook is still mixed, would be prudent to stand aside in the meantime.
Last edited by a moderator:
[URL deleted]Trade Idea Update: GBP/USD - Sell at 1.4230
As the British pound has remained under pressure after yesterday's selloff to 1.4129, adding credence to our bearish view that recent downtrend is still in progress and may extend weakness to 1.4120, then 1.4100, however, loss of downward momentum should prevent sharp fall below latter level and reckon 1.4050-60 would hold from here, risk from there is seen for another rebound to take place later.
In view of this, we are looking to sell cable on recovery as previous support at 1.4237 should limit upside and bring another decline. A sustained breach above this level would risk rebound to the lower Kumo (now at 1.4271) and possibly towards 1.4300 but only break of the upper Kumo (now at 1.4324) would add credence to this view, bring test of resistance at 1.4340 first.
As the British pound has remained under pressure after yesterday's selloff to 1.4129, adding credence to our bearish view that recent downtrend is still in progress and may extend weakness to 1.4120, then 1.4100, however, loss of downward momentum should prevent sharp fall below latter level and reckon 1.4050-60 would hold from here, risk from there is seen for another rebound to take place later.
In view of this, we are looking to sell cable on recovery as previous support at 1.4237 should limit upside and bring another decline. A sustained breach above this level would risk rebound to the lower Kumo (now at 1.4271) and possibly towards 1.4300 but only break of the upper Kumo (now at 1.4324) would add credence to this view, bring test of resistance at 1.4340 first.
Last edited by a moderator:
[URL deleted]Trade Idea Update: EUR/USD - Hold long entered at 1.0890
[/B]
As the single currency staged a rebound after holding above indicated support at 1.0855-60, retaining our bullishness and retest of last week's high at 1.0985 would be seen, break there would extend the rise from 1.0710 low to 1.1000 and later towards 1.1025-30, however, near term overbought condition should prevent sharp move beyond 1.1050.
In view of this, we are holding on to our long position entered at 1.0890. Below 1.0900 would dampen our bullishness and prolong choppy trading but only break of indicated support at 1.0855-60 would shift risk to downside and signal top has been formed, bring test of support at 1.0835, break there would provide confirmation, then fall to support at 1.0805 would follow.
As the single currency staged a rebound after holding above indicated support at 1.0855-60, retaining our bullishness and retest of last week's high at 1.0985 would be seen, break there would extend the rise from 1.0710 low to 1.1000 and later towards 1.1025-30, however, near term overbought condition should prevent sharp move beyond 1.1050.
In view of this, we are holding on to our long position entered at 1.0890. Below 1.0900 would dampen our bullishness and prolong choppy trading but only break of indicated support at 1.0855-60 would shift risk to downside and signal top has been formed, bring test of support at 1.0835, break there would provide confirmation, then fall to support at 1.0805 would follow.
Last edited by a moderator:
AUD/USD Forex Signal
* Long entry following a strong bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6992.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
* Long entry following a strong bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6992.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
NZD/USD Forex Signal
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 0.6515.
* Put the stop loss 1 pip below the local swing low.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 0.6515.
* Put the stop loss 1 pip below the local swing low.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run
USD/CAD Forex Signal
* Go short after bearish price action on the H1 time frame following a touch of 1.3912.
* Put the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
* Go short after bearish price action on the H1 time frame following a touch of 1.3912.
* Put the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
USD/CHF Forex Signal
* Go short after bearish price action on the H1 time frame following a touch of 0.9988.
* Place the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
* Go short after bearish price action on the H1 time frame following a touch of 0.9988.
* Place the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
GBP/USD Forex Signal
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.4650.
* Put the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 25 pips in profit.
* Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to ride.
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.4650.
* Put the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 25 pips in profit.
* Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to ride.
EUR/USD Forex Signal
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1232.
* Place the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1232.
* Place the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
NZD/USD Forex Signal
• Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6770.
• Place the stop loss 1 pip above the local swing high.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
• Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.6770.
• Place the stop loss 1 pip above the local swing high.
• Adjust the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
USD-CHF @ 0.9303/06...Ranged/Positive
R: 0.9340-50 / 0.9375
S: 0.9245-40 / 0.9210-00
Dollar-Swiss dipped to take support near 0.9280 from where it has bounced back. The outlook remains positive for the pair and we expect it rise further towards 0.9375 in the coming sessions. It has immediate support near 0.9280 and a good support is at 0.9240-30 levels which should be able to hold any further dip if seen. Also as mentioned in the morning it seems to be trading in the 0.9350-0.9230 range. It is advised to stay out of the markets.
R: 0.9340-50 / 0.9375
S: 0.9245-40 / 0.9210-00
Dollar-Swiss dipped to take support near 0.9280 from where it has bounced back. The outlook remains positive for the pair and we expect it rise further towards 0.9375 in the coming sessions. It has immediate support near 0.9280 and a good support is at 0.9240-30 levels which should be able to hold any further dip if seen. Also as mentioned in the morning it seems to be trading in the 0.9350-0.9230 range. It is advised to stay out of the markets.
GBP-USD @ 1.5204/07...Mixed
R: 1.5220 / 1.5270 /
S: 1.5090-80/
Cable has risen a bit and currently trading just near 1.5200 levels. If it manages to break its resistance of 1.5225 then it can rise further towards 1.5270-300 levels. On the other hand a dip from here can then result in a dip towards 1.5080, may be even lower. Looks evenly placed for each of them, advised to stay out of the market.
R: 1.5220 / 1.5270 /
S: 1.5090-80/
Cable has risen a bit and currently trading just near 1.5200 levels. If it manages to break its resistance of 1.5225 then it can rise further towards 1.5270-300 levels. On the other hand a dip from here can then result in a dip towards 1.5080, may be even lower. Looks evenly placed for each of them, advised to stay out of the market.
AUD-USD @ 1.0259/62...Bigger trend remains bearish
R: 1.0300 / 1.0375
S: 1.0230 / 1.0180 / 1.0030
Aussie has risen from 1.0180 levels and can rise further towards 1.0300 levels in the near term. The bigger trend remains down, though in the shorter term it can trade in the 1.0180-375 range or a 1.0180-300 range. We would be biased for a down side move after it takes resistance near 1.0300 or 1.0370 levels.
R: 1.0300 / 1.0375
S: 1.0230 / 1.0180 / 1.0030
Aussie has risen from 1.0180 levels and can rise further towards 1.0300 levels in the near term. The bigger trend remains down, though in the shorter term it can trade in the 1.0180-375 range or a 1.0180-300 range. We would be biased for a down side move after it takes resistance near 1.0300 or 1.0370 levels.
NZD/USD Forex Signal
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 0.6616.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 0.6616.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
