Daily Market Analysis By FXOpen

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Market Analysis: EUR/USD Dips Further While USD/CHF Turns Green

EUR/USD extended losses and traded below the 1.0775 support. USD/CHF is rising and might aim a move toward the 0.8850 resistance.

Important Takeaways for EUR/USD and USD/CHF Analysis Today

• The Euro struggled to clear the 1.0935 resistance and declined against the US Dollar.
• There is a key bearish trend line forming with resistance at 1.0680 on the hourly chart of EUR/USD at FXOpen.
• USD/CHF is showing positive signs above the 0.8745 pivot zone.
• There was a break above a short-term bullish continuation pattern with resistance at 0.8770 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair failed to clear the 1.0935 resistance. The Euro started a fresh decline below the 1.0825 support against the US Dollar, as mentioned in the previous analysis.

The pair declined below the 1.0775 support and the 50-hour simple moving average. Finally, the pair tested the 1.0630 level. A low was formed at 1.0628 and the pair is now consolidating losses. The pair is showing bearish signs, and the upsides might remain capped.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Amazon Stock (AMZN) Holds Above $200

On Thursday, October 31, Amazon released its Q3 earnings report:
→ Earnings per share: actual = $1.43, forecast = $1.14;
→ Gross sales: actual = $158.8 billion, forecast = $157.2 billion.

The report exceeded analyst expectations, with additional optimism driven by Trump’s victory and a Fed rate cut, pushing Amazon’s stock price past the psychological $200 mark and reaching a new high above $210.

Today, Amazon’s stock chart shows the price beginning to round off (indicated by an arrow). Does this signal the end of the bullish trend?

Unlikely, given the strong fundamental support. In technical terms, it may be more accurate to consider the price’s vulnerability to a correction, especially as it sits near the upper boundary of an ascending channel.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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All-Time Low and All-Time High Trading Strategies

In the volatile world of trading, mastering all-time high trading strategies and understanding how to navigate all-time lows are key. This FXOpen article delves into the nuanced tactics and insights that may help you navigate the peaks and troughs of market conditions, offering comprehensive insights if you are looking to leverage these critical areas for trading opportunities.

Understanding All-Time High and All-Time Low Market Conditions

Understanding the dynamics of all-time high and all-time low market conditions is crucial for traders aiming to navigate these pivotal points effectively.

All-time low trading refers to the scenario where an asset has reached its lowest price level in history, often triggering a heightened interest among investors looking for undervalued opportunities or signalling a potential reversal point. Conversely, all-time high trading occurs when assets are trading at their highest historical prices, indicating strong market optimism or potentially overvalued conditions ripe for a correction.

These extremes in market conditions represent significant psychological thresholds for the market participants, as they may lead to increased volatility and liquidity. Traders scrutinise trading at all-time lows to identify the potential for recovery, while those at all-time highs are monitored for signs of sustained momentum or impending pullbacks.

TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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Euro Hits Yearly Lows, Pound Dips Below 1.2800

Looking at recent moves in major currency pairs, it’s clear that market participants have come to terms with Donald Trump's victory in the U.S. presidential election and are starting to prepare for changes to the global economic landscape. Among the new president’s campaign promises was the introduction of additional tariffs on imports to the U.S. For instance, Trump has proposed around a 25% tariff on Mexican imports and a range of 10% to 20% for goods from European nations. Unsurprisingly, the prospect of potential trade wars is impacting the pricing of pairs such as EUR/USD and GBP/USD.

EUR/USD

The Euro has been in decline for the second consecutive week. Yesterday, it hit a new yearly low near 1.0600 but found support at 1.0590, bouncing slightly. If the 1.0600-1.0580 range turns into resistance, the pair may test the lows seen in 2023, around 1.0520-1.0460. A sustained upward move is likely only if the pair firmly clears 1.0730-1.0680.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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XAU/USD Analysis: Gold Price Drops to $2,600 per Ounce

On November 4, when gold was trading around $2,750, we observed bearish signals on the XAU/USD chart.

Since then, the price has declined to the $2,600 level, briefly dipping below it — the lowest price since mid-September.

According to Trading Economics, investors may be losing interest in gold for several reasons:

→ Strong U.S. Dollar: A robust dollar reduces gold's appeal as a safe-haven asset.

→ Optimism Following Trump’s Election: Market participants are reacting to Trump’s fiscal and monetary policy pledges, shifting toward riskier assets.

→ Upcoming Key U.S. Inflation Data: The CPI data, expected today at 16:30 GMT+3, may reveal no unexpected negative trends.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Nvidia (NVDA) Shares Consolidating Below $150

On October 22, while analysing Nvidia (NVDA) stock charts, we noted:

→ The stock had reached the $140 level;
→ A long-term ascending channel (shown in blue) was mapped;
→ Potential for price growth along the Quarter Line was suggested, dividing the lower half of the channel.

Bullish sentiment remains around Nvidia, one of the leading stocks of 2024, with the price now just below the $150 psychological mark about 29 days later. Nvidia’s technical analysis reveals that:

→ Price fluctuations are narrowing, forming a tightening triangle (illustrated with black lines), which may suggest consolidation as bulls hesitate before challenging a significant level;

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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AUDUSD Technical Analysis – 13th NOV, 2024
AUDUSD – Aroon Indicator Bearish Trend

AUDUSD was unable to continue its bullish momentum and after touching a high of 0.6539 the prices have started to decline against the United States Dollar today in the US trading session.
We can see the formation of Aroon Indicator Bearish Trend in the 15-minutes timeframe.
We can see the formation of Bearish trend reversal: adaptative moving average 20 in the 15-minutes timeframe.
Also, we see that the Support of channel is broken in the weekly timeframe.

We can see Bearish trend reversal: Moving Average 50 in the weekly timeframe.
We have detected that the Ichimoku: price is under the cloud in the weekly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets.
The prices are ranging Near a new LOW record (1 year) in the weekly timeframe.
AUDUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Aussie Bearish reversal seen below the 0.6539 mark.
• Short-term range appears to be Bearish.
• AUDUSD continues to remain above the 0.6510 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 0.6512 which is a 1-Month Low.
AUDUSD is now trading near to its Pivot levels of 0.6526 and is moving into a Bearish channel.
The price of AUDUSD remains above its Classic support levels of 0.6511 and is moving towards its next target of 0.6504 which is a Pivot Point 1st Support Point.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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EURUSD Technical Analysis – 13th NOV, 2024
EURUSD – Near Resistance of Channel

EURUSD was unable to continue its bullish momentum and after touching a high of 1.0627 the prices started to decline against the United States Dollar today in the US Trading session.
The prices are ranging Near resistance of channel in the 15-minutes timeframe.
We have detected Bearish price crossover with Moving Average 100 in the 30-minutes timeframe.
EURUSD is now ranging Near horizontal resistance in the 1-hourly timeframe.
We have seen that the Price is back under the pivot point in the 1-hourly timeframe.

Also, we can detect that the Momentum indicator is back under zero in the 1-hourly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the consolidation wave in the markets.
We have also seen Moving Average bearish crossovers: AMA50 & AMA100 in the daily timeframe.
EURUSD is now trading below its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Euro Bearish reversal seen below the 1.0627 mark.
• Short-term range appears to be Bearish.
• EURUSD continues to remain above the 1.0620 levels.
• Average true range ATR is indicating High market volatility.

The next support is located at 1.0593 which is a 1-Month Low.
EURUSD is now trading near to its Pivot levels of 1.0633 and is moving into a Bearish channel.
The price of EURUSD remains above its Classic support levels of 1.0602 and is moving towards its next target of 1.0591 which is a Pivot Point 1st Support Point.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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GBPUSD Technical Analysis – 13th NOV, 2024
GBPUSD – Bearish Trend Reversal Pattern

GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2754 the prices started to decline against the United States Dollar today in the US Trading session.
We can see Bearish trend reversal: adaptative moving average 50 in the 15-minutes timeframe.
Also, we can see Bearish price crossover with Moving Average 20 in the 15-minutes timeframe.
The RSI indicator is back under 50 in the 15-minutes timeframe.

We can see Bearish price crossover with Moving Average 20 in the 30-minutes timeframe.
The Momentum indicator is back under zero in the 1-hourly timeframe.
The Support of channel is broken in the daily timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets indicating the presence of the consolidation wave in the markets.
GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bearish reversal seen below the 1.2754 mark.
• Short-term range appears to be Bearish.
• GBPUSD continues to remain above the 1.2750 levels.
• Average true range ATR is indicating Less market volatility.

GBPUSD is now trading near to its Pivot levels of 1.2749 and is moving into a Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2723 and is now moving towards its next target of 1.2719 which is a 1-Month Low.
We are also looking for the breach of the levels of 1.2712 which is a 38.2% Retracement From 52 Week Low.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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NZDUSD Technical Analysis – 13th NOV, 2024
NZDUSD – Bearish Price Crossover Pattern

NZDUSD was unable to continue its bullish momentum and after touching a high of 0.5933 the prices started to decline against the United States Dollar today in the US Trading session.
We have seen Bearish price crossover with Moving Average 20 in the 15-minutes timeframe.
Also, we see Bearish price crossover with adaptative moving average 20 in the 15-minutes timeframe.
We can detect that the Ichimoku: price is under the cloud in the 15-minutes timeframe.

The MACD crosses DOWN its Moving Average in the 30-minutes timeframe.
We see that the Momentum indicator is back under zero in the daily timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We have seen Moving Average bearish crossovers: AMA50 & AMA100 in the 2-hourly timeframe.
NZDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Kiwi Bearish reversal seen below the 0.5933 mark.
• Short-term range appears to be Bearish.
• NZDUSD continues to remain above the 0.5930 levels.
• Average true range ATR is indicating High market volatility.

The next support is located at 0.5910 which is a 3-10 Day Moving Average Crossover Stalls.
NZDUSD is now trading near to its Pivot levels of 0.5929 and is moving into a Bearish channel.
The price of NZDUSD remains above its Classic support levels of 0.5916 and is now moving towards its next target of 0.5909 which is a 1-Month Low.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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USDCAD Technical Analysis – 13th NOV, 2024
USDCAD – Near Support of Channel

USDCAD was unable to continue its Bearish momentum and after touching a low of 1.3929 the prices started to rise upwards against the United States Dollar today in the US Trading session.
The prices are ranging Near support of channel in the 1-hourly timeframe.
We have seen that the Momentum indicator is back over zero in the 2-hourly timeframe.
The Horizontal resistance is broken in the daily timeframe.

Also, we see the CCI indicator is overbought: over 100 in the daily timeframe indicating a Neutral market.
The USDCAD Price is back over the pivot point in the weekly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
USDCAD is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.
• Loonie Bullish reversal seen above the 1.3929 mark.
• Short-term range appears to be Bullish.
• USDCAD continues to remain above the 1.3950 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 1.3968 which is a Pivot Point 1st Resistance Point.
USDCAD is now trading near to its Pivot levels of 1.3955 and is moving into a Bullish channel.
The price of USDCAD remains above its Classic support levels of 1.3938 and is now moving towards its next target of 1.3977 which is a Price 1 Standard Deviation Resistance.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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USDJPY Technical Analysis – 13th NOV, 2024
USDJPY – Near Support of Channel

USDJPY was unable to continue its bearish momentum and after touching a low of 154.50 the prices started to correct upwards against the United States Dollar today in the US Trading session.
We can see that the prices are Near Support of Channel in the 15-minutes timeframe.
Also, we can see that the Resistance of channel is broken in the weekly timeframe.
The Aroon indicator bullish trend is visible in the weekly timeframe.

Also, we have detected the SuperTrend indicator bullish reversal signal in the weekly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We can see the prices are Near a new HIGH record (5 years) in the weekly timeframe.
Also, we see that the prices continue to range Near horizontal support in the monthly timeframe.
USDJPY is now trading above its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Yen Bullish reversal seen above the 154.50 mark.
• Short-term range appears to be Bullish.
• USDJPY continues to remain above the 154.40 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 155.22 which is a Pivot Point 1st Resistance Point.
USDJPY is now trading near to its Pivot levels of 154.88 and is moving into a Bullish channel.
The price of USDJPY remains above its Classic support levels of 154.57 and is now moving towards its next target of 155.23 which is a 1-Month High.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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What Are the Inner Circle Trading Concepts?

Inner Circle Trading (ICT) offers a sophisticated lens through which traders can view and interpret market movements, providing traders with insights that go beyond conventional technical analysis. This article explores key ICT concepts, aiming to equip traders with a thorough understanding of how these insights can be applied to enhance their trading decisions.

Introduction to the Inner Circle Trading Methodology

Inner Circle Trading (ICT) methodology is a sophisticated approach to financial markets that zeroes in on the behaviours of large institutional traders. Unlike conventional trading methods, ICT is not merely about recognising patterns in price movements but involves understanding the intentions behind those movements. It is part of the broader Smart Money Concept (SMC), which analyses how major players influence the market.

TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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S&P 500 Index Stabilises Near Resistance Block

The ATR indicator on the S&P 500’s 4-hour chart (US SPX 500 mini on FXOpen) currently shows a reduction in price volatility.

This drop in volatility can likely be attributed to:
→ The market having fully absorbed the impact of Trump’s recent presidential win;
→ No unexpected news from yesterday’s CPI report, which matched analysts’ inflation expectations.

Looking ahead, Morgan Stanley analysts believe the bull market could face challenges from:

→ A rise in treasury bond yields, potentially diverting investor funds;
→ A strengthening dollar, which could reduce export revenues for large companies;
→ Indicators suggesting stock valuations are becoming even more stretched.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Commodity Currencies Reach New Lows

The rally in Bitcoin, meme coins, and the US dollar that followed Donald Trump’s presidential victory continues to gain momentum. The tariff cuts announced by the new president-elect have already contributed to declines in gold and commodity prices. Combined with the potential for heightened trade tensions with China, the current environment is pressuring currencies such as the AUD and CAD.

USD/CAD

Yesterday, USD/CAD buyers managed to test the psychological resistance level at 1.4000. The pair has long traded within the range of 1.3960–1.3800, but it has recently broken above this channel to reach a two-year high at 1.3960. Technical analysis points to the potential for further gains towards 1.4200–1.4300, provided the 1.4000–1.3960 levels hold as support. A downward correction, however, could bring the pair back to 1.3960–1.3900.

Key events likely to impact USD/CAD pricing today include:

At 16:30 (GMT +3:00): US Initial Jobless Claims.
At 16:30 (GMT +3:00): US Producer Price Index (PPI) for October.
At 19:00 (GMT +3:00): Weekly US crude oil inventory report.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Alibaba (BABA) Shares Drop Ahead of Earnings Report

Tomorrow, on 15 November, Alibaba (BABA) will release its third-quarter 2024 earnings report. Analysts forecast a drop in earnings per share to $2.11 from $2.26 in the previous quarter.

Ahead of the report, Alibaba's share price has shown a downward trend, with a decline of over 20% from its October high. This drop is attributed not only to the waning of the strong bullish momentum seen in the Chinese stock market in September but also to increased competition from Temu and Pinduoduo. However, JP Morgan analyst Alex Yao predicts that "Alibaba will stabilise its market share in the coming years," potentially supporting its position as China's largest supplier.

A technical analysis of Alibaba’s (BABA) price chart reveals that:
→ this autumn, the stock price broke above a multi-year descending trend line (in red);
→ signs of support lines and pivot points suggest an emerging upward channel that could gain relevance in the long term following the breakout.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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AUDUSD Technical Analysis – 14th NOV, 2024
AUDUSD – Support of Channel is Broken

AUDUSD was unable to continue its bullish momentum and after touching a high of 0.6496 the prices have started to decline against the United States Dollar today in the US trading session.
We can see that the Support of channel is broken in the 15-minutes timeframe.
We can see that the RSI indicator is oversold: under 30 in the 2-hourly timeframe.
Also, we see Bearish trend reversal: Moving Average 50 present in the weekly timeframe.

We have detected that the Ichimoku: price is under the cloud in the weekly timeframe.
Also, the SuperTrend indicator bearish reversal is visible in the weekly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets.
The prices are ranging Near a new LOW record (1 year) in the weekly timeframe.

AUDUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Aussie Bearish reversal seen below the 0.6496 mark.
• Short-term range appears to be Bearish.
• AUDUSD continues to remain above the 0.6450 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 0.6442 which is a 3-10 Day Moving Average Crossover Stalls.
AUDUSD is now trading near to its Pivot levels of 0.6459 and is moving into a Bearish channel.
The price of AUDUSD remains above its Classic support levels of 0.6443 and is moving towards its next target of 0.6439 which is a Pivot Point 2nd Support Point.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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EURUSD Technical Analysis – 14th NOV, 2024
EURUSD – Bearish Price Crossover Pattern

EURUSD was unable to continue its bullish momentum and after touching a high of 1.0593 the prices started to decline against the United States Dollar today in the US Trading session.
We can see Bearish price crossover with Moving Average 20 in the 15-minutes timeframe.
Also, the Support of channel is broken in the 1-hourly timeframe.
We have detected that the RSI indicator is oversold: under 30 in the 2-hourly timeframe.
We have seen the formation of Doji in the 2-hourly timeframe.

Also, we can detect Moving Average bearish crossovers: MA50 & MA100 in the daily timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the consolidation wave in the markets.
We can see that the prices are ranging New LOW record (1 year) in the weekly timeframe.

EURUSD is now trading below its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Euro Bearish reversal seen below the 1.0593 mark.
• Short-term range appears to be Bearish.
• EURUSD continues to remain above the 1.0530 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 1.0529 which is a Pivot Point 1st Support Point.
EURUSD is now trading near to its Pivot levels of 1.0520 and is moving into a Bearish channel.
The price of EURUSD remains above its Classic support levels of 1.0469 and is moving towards its next target of 1.0497 which is a 1-Month Low.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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GBPUSD Technical Analysis – 14th NOV, 2024
GBPUSD – Support of Channel is Broken

GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2725 the prices started to decline against the United States Dollar today in the US Trading session.
We can see that the Support of channel is broken in the 15-minutes timeframe.
Also, we can see Bearish price crossover with adaptative moving average 20 in the 15-minutes timeframe.
The RSI indicator is oversold: under 30 in the 4-hourly timeframe indicating a Neutral market.

Also, the Horizontal support is broken in the daily timeframe.
The Bearish price crossover with adaptative moving average 100 is visible in the weekly timeframe.
We have detected SuperTrend indicator bearish reversal in the weekly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets indicating the presence of the consolidation wave in the markets.

GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bearish reversal seen below the 1.2725 mark.
• Short-term range appears to be Bearish.
• GBPUSD continues to remain above the 1.2650 levels.
• Average true range ATR is indicating Less market volatility.

GBPUSD is now trading near to its Pivot levels of 1.2650 and is moving into a Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2610 and is now moving towards its next target of 1.2640 which is a Pivot Point 2nd Support Point.
We are also looking for the breach of the levels of 1.2629 which is a 1-Month Low.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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NZDUSD Technical Analysis – 14th NOV, 2024
NZDUSD – Support of Channel is Broken

NZDUSD was unable to continue its bullish momentum and after touching a high of 0.5902 the prices started to decline against the United States Dollar today in the US Trading session.
We can see that the Support of channel is broken in the 1-hourly timeframe.
Also, we can see the formation of Doji in the 4-hourly timeframe indicating a Neutral market.
We see that the Horizontal support is broken in the daily timeframe.

We have detected SuperTrend indicator bearish reversal in the weekly timeframe.
The prices of NZDUSD are ranging New LOW record (1 year) in the weekly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We have seen that the Support of channel is broken in the monthly timeframe.

NZDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Kiwi Bearish reversal seen below the 0.5902 mark.
• Short-term range appears to be Bearish.
• NZDUSD continues to remain above the 0.5860 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 0.5855 which is a Pivot Point 1st Support Point.
NZDUSD is now trading near to its Pivot levels of 0.5859 and is moving into a Bearish channel.
The price of NZDUSD remains above its Classic support levels of 0.5838 and is now moving towards its next target of 0.5837 which is a 14 Day RSI at 30%.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog