Daily Forex market overviews by MasterForex

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TREND ANALYSIS OF THE AUDUSD FOR 12/10/01

AUDUSD

On the 4-hour chart:

The pair continues to move within the descending channel, formed by the resistance line 1 and support line 2. During the falling, the price pierced the levels 1.0418 and 1.0388, lost in total more than 130 pips. The two-week low at 1.0324 was recorded.

On the 1-hour chart:

The pair was lowering within the descending channel between the lines 1 and 2, but after another recoil from the support line 2, it pierced the resistance and grew above the level 1.0348. The moving averages are changing the tilt to flatter.

On the 15-minute chart:

In the middle of the Asian session, the pair changed the falling by growth. There were formed the support line 1 and resistance line 2. The nearest resistance lines at the level 1.0388. Traders will probably keep the long positions opened.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/10/01

USDJPY

On the 4-hour chart:

The pair rallied on Friday and returned the most part of the weekly losses. The levels 77.73 and 77.91 were pierced as well as the resistance line 1. The current week started by decline, this threw the price back below the level 77.91. The moving averages showed the turnover of descending trend.

On the 1-hour chart:

The most part of Asian session, the pair was lowering confidently until found the support at the level 77.82. After that, the sharply growth followed. The moving averages started to turn downwards, but under the influence of the last hour dynamics, they are changing the bias to bullish again.

On the 15-minute chart:

The pair lowered during the Asian session within the descending channel between the lines 1 and 2. Later the resistance line 1 was pierced. Now the price is trying to gain a foothold above the level 77.91. In this case, the turn to flat is likely.

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TREND ANALYSIS OF THE USDCHF FOR 12/10/02

USDCHF

On the 4-hour chart:

It remains the uncertainty on the market. The price is remaining to fluctuate inside two channels at the same time. The pair decreased to the support line 1 after the rebound from the cross of the resistance lines 2 and 4. The fluctuations are placing along the line 1 now. The Moving Averages show flat dynamics.

On the 1-hour chart:

It determines the consolidation between the support line 1 and the resistance level 0.9385. The price rebounded from the support line for the second time and continued to consolidate today. The Moving Averages show weak bearish tendency.

On the 15-minute chart:

The price moves in the direction of the low border of the consolidation area. The middle-term bearish trend will continue in the case of the break through the support line 1. The break through the support level 0.9345 will be a signal for opening short positions. If the pair will break the resistance level it will start the growth in the direction of the resistance line 2. That will be a signal for the remaining of the bullish trend.

 

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TREND ANALYSIS OF THE GBPUSD FOR 12/10/02

GBPUSD

On the 4-hour chart:

Downward trend between the lines 1 and 2 is remaining. It started the consolidation between the support level 1.6120 and the resistance level 1.6155 after the price had reached the low border of the channel in the cross with the support level. The Moving Averages show the remaining of the bearish trend.

On the 1-hour chart:

The price continued the dynamics in the upward channel between the lines 2 and 3 after the rebound from the cross of the support lines 1 and 2 and the level 1.6120. After that it was recoil from the cross of the resistance lines 3 and 4. The Moving Averages show the slowdown of the downward trend.

On the 15-minute chart:

The price consolidates between the lines 1 and 2. The further dynamics will develop in the direction of the breakthrough. If the pair could break the resistance line the correction in the direction of the trend line 2 on the 5-hour chart will continue. If the price could decrease below the support line traders will expect the break through the support line 1.6120. That will be a signal for the beginning of sales.

 

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TREND ANALYSIS OF THE EURUSD FOR 12/10/02

EURUSD

On the 4-hour chart:

Downward trend between the lines 1 and 2 remains. The price is consolidating between the trend line 2 and the support level 1.2885. The Moving Averages show the remaining of the bearish trend.

On the 1-hour chart:

The consolidation between the trend line 2 and the support level 1.2885 is remaining. The pair reached the trend line and rebounded downwards at the second part of Monday. The day began with the testing of the consolidation. The price rebounded to the trend line 2 after the unsuccessful testing of the level 1.2885. After that it was the other try to break through the support. The Moving Averages confirm flat character of the dynamics.

On the 15-minute chart:

The price rebounded upwards from the consolidation level. However, it expects the break through the support level in the near future. Traders will reach the signal for the trend continuation and the sales will start in the case. If the trend line could be broken the decrease will slowdown. Traders will wait for the development of the situation in the case.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/10/02

USDCAD

On the 4-hour chart:

After recoil from the resistance line 1, the pair started to consolidate near the support level 0.9810. Herewith the fluctuating amplitude is gradually lowering. The moving averages turned to flat.

On the 1-hour chart:

Since the beginning of the week, the pair is demonstrating the mixed dynamics. The volatility of the pair is falling gradually. Herewith the moving averages are showing the clear flat. The nearest support lies at 0.9810, while the resistance could be found at 0.9852.

On the 15-minute chart:

During the Asian session, the pair was fluctuating in flat between the support level 0.9814 and resistance level 0.9830. The piercing of any border of the corridor will be a weak signal of the flat ended. Traders probably will wait for the confirmation of trend dynamics.

 

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TREND ANALYSIS OF THE AUDUSD FOR 12/10/02

AUDUSD

On the 4-hour chart:

The pair is moving within the descending trend channel between the lines 1 and 2. After the recoil from the resistance level 1.0388, the price started the sharply decline. Now the support line 2 is under testing. The moving averages show the strengthening of the trend.

On the 1-hour chart:

During the yesterday fluctuations between the levels 1.0388 and 1.0348, the pair formed the resistance line 1. After rebound from that line, the price began the rapid falling. The support levels 1.0348 and 1.0321 were pierced. The pair recorded the three-week low at 1.0290 and continued to decrease.

On the 15-minute chart:

After reaching the support line 1, the pair slowed the falling down. Now the line is under intensive testing. In case of its confirmation, traders will have a chance to play against the descending trend. Otherwise, the price may resume the rapid falling.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/10/02

USDJPY

On the 4-hour chart:

After yesterday recoil from the support level 77.91, the pair was demonstrating the confident bullish dynamics. The growing price is getting close to the resistance level 78.16. The moving averages are preparing to provide a bullish signal.

On the 1-hour chart:

The pair is fluctuating within the ascending channel between the lines 1 and 2. The price touched the support line 1 and marked the movement aside the trend finishing herewith the correction. The moving averages are showing the confident bullish trend.

On the 15-minute chart:

In the second half of the Asian session, the pair was moving within the correction towards the support line 1. In case of confirmation of mentioned line, the traders will continue to buy, while otherwise, the end of the short-time trend is likely.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/10/03

USDCAD

On the 4-hour chart:

The pair continues the growth within the ascending trend channel champed between the support line 1 and resistance line 2. The technical correction finished by the recoil from the line 1, which was backed by the support level 0.9810. The moving averages are showing the moderate ascending trend.

On the 1-hour chart:

The pair pierced the resistance line 1 and the level 0.9852, which is now waiting for the confirmation as a support. The price renewed the thee-week high by the value 0.9871 and started the correction. The nearest resistance lies at 0.9872.

On the 15-minute chart:

After the recoil from the support level 0.9843, the pair started the intensive growth. However, the price begun to decline failed to reach the resistance level 0.9872. As a result, the pair dynamics for Asian session was mixed. Traders might wait for the clearer pair movement before the trading resumption.

 

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TREND ANALYSIS OF THE AUDUSD FOR 12/10/03

AUDUSD

On the 4-hour chart:

The pair left the descending trend channel between the lines 1 and 2 by piercing the support after the short testing. The levels 1.0278 and 1.0255 have been broken as well. The price got close to the support 1.0196. The tilt of moving averages is getting steeper.

On the 1-hour chart:

The lowering pair formed the resistance line 1 and the support line 2 which are clamping the bearish dynamics. The price got close to the support level 1.0196. Now the pair is in the phase of technical correction of descending trend. The moving averages confirm the intensive bearish tendency.

On the 15-minute chart:

The pair is fluctuating within the descending trend channel between the lines 1 and 2. During the Asian session, the price formed the resistance line 3, which is under testing now. Traders may keep the short positions opened until the pair pierces the top border of the channel.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/10/03

USDJPY

On the 4-hour chart:

The pair continues to growth started on Monday. During the fluctuations, the support line 1 and the resistance line 2 were formed. The pair pierced the resistance level 78.16. The moving averages gave a bullish signal.

On the 1-hour chart:

After the significant loss at the end of European and the beginning of American sessions, the pair got back to the channel between the lines 1 and 2, gained herewith about 25 pips. After the short correction from the resistance line 2, the price recoiled from the support line 1 baked by the level 78.16.

On the 15-minute chart:

The pair finished the correction by rebound from the support line 1 and resumed to move aside the trend. The nearest resistance level lies at 78.33. Now the pair continued the testing of the support line 1. In case of its piercing, the turn to flat is likely.

 

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TREND ANALYSIS OF THE USDCHF FOR 12/10/03

USDCHF

On the 4-hour chart:

The pair left the upward channel between the lines 1 and 2 with the break through the trend line. That was the first signal for the upward tendency. The price reached the support at the level 0.9345 and rebounded upwards after that. The Moving Averages show the flat character of the dynamics.

On the 1-hour chart:

The pair broke the trend line 1 and decreased to the level 0.345 in the middle of Tuesday. After that it was recoil upwards and the pair increased to the level 0.9385. After that it was the second recoil. The decrease is remaining at the moment. The Moving Averages prepare to give bearish signal.

On the 15-minte chart:

The pair rebounded from the support at the level 0.9360 and began to increase. If the tendency could remain and the pair could break the line 2 on the 1-hour chart the trend direction will not change however the strength will decrease. If the reverse in the downward direction will continue and the support level 0.9345 will be broken traders will gain the signal for sales.

 

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TREND ANALYSIS OF THE GBPUSD FOR 12/10/03

GBPUSD

On the 4-horu chart:

Downward trend in the channel between the lines 1 and 2 is remaining. The support line 3 and the level 1.6120 had been broken earlier that was a signal for the end of the correction. The Moving Averages confirm the remaining of the trend.

On the 1-hour chart:

The pair left the channel of the correction between the lines 3 and 4 at the end of the Tuesday. The decrease continued on Wednesday. As a result, the price decreased below the previous local low level 1.6120. The break through the level was a signal for the sales. After that it was a rebound from the support line of the channel 1. The Moving Averages show the remaining of the bearish trend.

On the 15-minute chart:

The pair corrected to the level 1.6120 and confirmed it as a resistance to the moment. If the tendency could remain the pair will remain bearish dynamics. The break through the level 1.6100 will be a signal for sales. However, traders should pay attention to the closeness of the support line 1. If the pair could break the level 1.6120 and the line 2 trader will gain the signal for the continuation of the correction.

 

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TREND ANALYSIS OF THE EURUSD FOR 12/10/03

EURUSD

On the 4-hour chart:

The pair left downward channel between the lines 1 and 2 with the break through the trend line. Thus, it had been gained the first reverse signal. After that the pair had reached the cross of the resistance line 3 and the level 1.2940. The decrease is remaining at the moment. The dynamics places along the line 2. The Moving Averages show the remaining of the trend direction.

On the 1-hour chart:

The price increased above the trend line 2 in the middle of Tuesday. The pair reached the cross of the resistance line 3 and the level 1.2945 and recoiled downwards. After that it had been broken the support line of the correction 4. The growth started from the cross of the support level 1.2885 and the line 2. The Moving Averages signalize about upward tendency.

On the 15-minute chart:

The growth is remaining after the line 1 had been confirmed as a support. If the tendency could remain and the level 1.2945 could be broken traders will start purchases. The break through the level will be the confirmation of the upward trend. If the pair could change the direction of the dynamics and could break through the level 1.2885, traders will obtain the signal for the continuation of the downward trend.

 

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TREND ANALYSIS OF THE USDCHF FOR 12/10/04

USDCHF

On the 4-hour chart:

The pair remains to move in the channel of the middle-term trend between the lines 3 and 4. Downward dynamics that began with the rebound from the cross of the line 1 and the level 0.9385 is remaining at the moment. The Moving Averages prepare to give bearish signal.

On the 1-hour chart:

The price increased to the resistance level 0.9390 and rebounded downwards at the second part of Wednesday. The resistance line 3 had been formed during the decrease. Thus, the price places in the downward channel between the lines 2 and 3. The Moving Averages gave bearish signal.

On the 15-minute chart:

The price is approaching to the support level 0.9390 at the moment. The break through the level will open the way to the support at the level 0.9345. Traders will gain the signal for the continuation of the middle-term bearish trend in the case. According to that it could be expected the beginning of the sales.

 

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TREND ANALYSIS OF THE GBPUSD FOR 12/10/04

GBPUSD

On the 4-hour chart:

Bearish trend between the lines 1 and 2 is remaining now. The price corrects after the rebound from the cross of the support line 1 and the level 1.6075. The Moving Averages show bearish trend.

On the 1-hour chart:

The pair remains to move inside the channel between the lines 1 and 2. The correction started after the rebound from the level 1.6075. After that the price reached the resistance line 2 in the point of the cross with the level 1.6120. The Moving Averages confirm the correction during downward tendency.

On the 15-minute chart:

The pair places in the upward channel of the correction between the lines 1 and 2. The price is testing resistance line 3 at the moment. If the line 3 and the level 1.6120 could be broken the correction will continue. The resistance line 2 on the 4-hour chart will be a landmark for traders in the case. If the pair could rebound downwards bearish trend will resume. The decrease in the channel between the lines 1 and 2 on the 1-hour chart will continue in the case.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/10/04

USDCAD

On the 4-hour chart:

The pair continued to move within the ascending trend channel between the lines 1 and 2. The price pierced the level 0.9852, but recoiled from the resistance 2. Soon the testing of the pierced level will start from the upside. The moving averages are showing the correction within the ascending tendency.

On the 1-hour chart:

After the recoil from the resistance line 1, the pair turned to phase of technical correction. The moving averages herewith started the turnover, showing the weakening of ascending trend. In case of confirmation as a support the level 0.9852 or the line 2, the pair will resume to grow.

On the 15-minute chart:

During the Asian session, the lines 1 and 2 formed the descending channel. Now the pair reached the support line 2 and the level 0.9852. After recoil from level, traders will be able to continue trading aside trend. Otherwise, the turn to flat is likely.

 

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TREND ANALYSIS OF THE EURUSD FOR 12/10/04

EURUSD

On the 4-hour chart:

The formation of the upward trend is remaining. The support line 3 had been formed to the moment. After that the price began to test previous local high level 1.2945. The Moving Averages prepare to give bullish signal.

On the 1-hour chart:

The pair formed the support line 1 at the end of Wednesday. After that it had been broken the resistance line 2. As a result, it had been formed upward channel between the lines 1 and 2. The price is testing the key resistance level 1.2945. The Moving Averages show the remaining of the bullish tendency.

On the 15-minute chart:

The price makes the next attempt to test the resistance level 1.2495. If the level could be broken, traders will gain the signal for bullish trend. Thus it could be expected purchases from the level. If the pair could rebound downwards, bearish tendency could continue. The break through the level 1.2900 will be the confirmation for the further decrease.

 

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TREND ANALYSIS OF THE AUDUSD FOR 12/10/04

AUDUSD

On the 4-hour chart:

The lowering pair recoiled from the support level 1.0196. The nearest resistance lies at 1.0255. The moving averages are showing the intensive descending trend. The price herewith is in the phase of the technical correction.

On the 1-hour chart:

During the last day, the pair was demonstrating the mixed dynamics with predominantly flat bias. The fluctuations diapason was restricted by the support level 1.0196 and the resistance line 1. The moving averages also changed the direction to horizontal.

On the 15-minute chart:

The pair was fluctuating between the line 1 and level 1.0196. Herewith during the second half of the Asian session, the price was demonstrating confident bullish dynamics. In case of piercing the resistance line, traders can open the long positions confidently.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/10/04


USDJPY

On the 4-hour chart:

The pair left the ascending trend channel between the lines 1 and 2 by piercing the resistance. The price grew above the level 78.48, which was later confirmed as a support. It is early to talk about new channel forming. The moving averages gave a bullish signal.

On the 1-hour chart:

The yesterday lowering ended by confirmation of the line 1 as a support. In addition, the price pierced the level 78.57, which is under testing from the upside now. The moving averages continue to show the intensive ascending trend.

On the 15-minute chart:

During the fluctuating, the pair formed the resistance line 1. In case of confirmation of the level 78.57, which is under testing now, it will be possible to talk about forming of narrowing ascending channel between the resistance 1 and the line 2, which requires a confirmation as a support.