Andy.atx Posted December 12, 2019 Report Share Posted December 12, 2019 USD/JPY: TECHNICAL ANALYSIS 12.12.19 Current trend On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands and approaching strong support in the region of 108.594-108.620. This area is coincided with the middle line of Bollinger Bands and can activate a downward rebound. However, the decisive break of 108.620 is needed to indicate uptrend resumption. In this case, the buyers will aim for the level of 108.789-108.850. Alternative scenario The rebound from 108.594 and pullback below 108.520 could lead the price back to 108.398 support. One may speak about downward movement continuation after the price consolidates below the support level of 108.350. In this case, the next targets of sellers will be the level of 108.203-108.008. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is growing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Resistance: 108.594 108.789 108.984 Support: 108.398 108.203 108.008 Trading recommendations Buy Target S/L Sell Target S/L 108.594 108.789 108.529 108.520 108.398 108.561 108.800 108.984 108.739 108.380 108.203 108.439 Link to comment Share on other sites More sharing options...
Andy.atx Posted December 12, 2019 Report Share Posted December 12, 2019 AUD/USD: TECHNICAL ANALYSIS 12.12.19 Current trend AUD/USD is in the stage of a downward correction after falling to the level of 0.68885. If the sellers manage to decline the rate below the level of 0.68817, the correction can continue to the area of 0.68665. This level will be key for the sellers in the short term period. The breakdown of this level will confirm the downward correction signal and give a prospect of decline to 0.68512-0.68359 support. Alternative scenario One may speak about upward movement continuation after the price consolidates above the resistance level of 0.98970. In this case, the next targets of buyers will be the level of 0.69126-0.69240. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is in the oversold zone and is pointed sideways. Support and resistance Resistance: 0.68885 0.68970 0.69129 Support: 0.68817 0.68665 0.68359 Trading recommendations Buy Target S/L Sell Target S/L 0.68890 0.68970 0.68863 0.68810 0.68665 0.68858 0.68980 0.69129 0.68930 0.68660 0.68359 0.68760 Link to comment Share on other sites More sharing options...
Andy.atx Posted December 13, 2019 Report Share Posted December 13, 2019 EUR/JPY: TECHNICAL ANALYSIS 13.12.19 Current trend On the 4-hour chart, the pair keeps an active positive dynamic. The price has tested the resistance level of 122.572 and was slightly corrected downwards, but the general upward trend maintains. The decisive break of 122.656 is needed to indicate uptrend resumption. In this case, the next targets of buyers will be the level of 122.924-123.250. Alternative scenario The pullback below the 122.266 support will be a signal for downward correction formation and give a prospect of decline to 122.117-121.875 support zone. The level of 121.875 seems strong support which can activate an upward rebound. However, the breakdown of this level can accelerate the decline towards 121.484 support. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is in the overbought zone and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 122.266, 121.875, 121.484. Resistance levels: 122.656, 122.924, 123.250. Trading recommendations Short positions can be opened below the level of 122.266 with the target at around 121.875 and stop-loss at 122.396. Long positions can be opened above the level of 122.656 with the target at around 122.924 and stop-loss at 122.526. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 13, 2019 Report Share Posted December 13, 2019 XAU/USD: TECHNICAL ANALYSIS 13.12.19 Current trend XAU/USD quotes attempted to grow, but reaching 1469.89 resistance moved to a decline. The first support is located on the 1464.84 level. Assuming the pair’s ability to cross this mark, the level of 1462.15-1460.94 can be targeted if holding short positions. Alternative scenario The pullback above 1468.75 and the pair’s sustained trading above it will be a signal for upward trend formation and give a prospect of growth to 1472.66 resistance. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 1473.00 can accelerate the pair towards 1476.56 resistance. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1464.84, 1460.94, 1457.03. Resistance levels: 1468.75, 1472.66, 1476.56. Trading recommendations Short positions can be opened below the level of 1464.84 with the target at around 1460.94 and stop-loss at 1466.10. Long positions can be opened above the level of 1469.00 with the target at around 1472.66 and stop-loss at 1467.80. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 13, 2019 Report Share Posted December 13, 2019 NZD/USD: TECHNICAL ANALYSIS 13.12.19 Current trend NZD/USD is in the stage of a downward correction after growing to the level of 0.66340. If the sellers manage to decline the rate below the level of 0.66071, the correction can continue to the area of 0.65918. This level will be an important line in the short term period. The decisive break of 0.65918 is needed to the downward trend resumption. In this case, the pair will reach the 0.65613 support, which coincided with the middle line of Bollinger Bands. Alternative scenario The pullback above 0.66233 will let the price to retest 0.66340 resistance. Should prices continue growing above it, the level of 0.66528 might try activating a downward rebound. However, the breakout and consolidation above 0.66528 will give a prospect of growth to 0.66700-0.66963 resistance area. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.66071, 0.65918, 0.65613, 0.65308. Resistance levels: 0.66233, 0.66340, 0.66528, 0.66700. Trading recommendations Short positions can be opened below the level of 0.66071 with the target at around 0.65918-0.65700 and stop-loss at 0.66171. Long positions can be opened above the level of 0.66233 with the target at around 0.66528 and stop-loss at 0.66134. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 16, 2019 Report Share Posted December 16, 2019 USD/CHF: TECHNICAL ANALYSIS 16.12.19 Current trend The USD/CHF pair begins today’s trading with slight bullish bias, but the general downward trend is still maintained. Failure to conquer the 0.98840 resistance mark seems fetching the USD/CHF to 0.98267 support. The area 0.98267-0.98168 will be a key zone for the sellers in a short term period. However, the decisive breakdown of 0.98168 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.97961-0.97800. Alternative scenario If the "bulls" manage to raise the rate above the level of 0.98407, the correction can continue to the area of 0.98572. The breakdown and pair’s sustained trading above 0.98560 will be a signal for upward trend resumption and give a prospect of growth to 0.98877 resistance. Technical indicators Technical indicators reflect the moderate maintenance of the current downward trend. MACD is in the negative zone. Stochastic is pointed downwards. Bollinger Bands are pointed sideways. Support and resistance Support levels: 0.98267, 0. 98168, 0.97961, 0.97800. Resistance levels: 0.98440, 0.98572, 0.98877. Trading recommendations Short positions can be opened below the level of 0.98267 with the target at around 0.98168-0.97961 and stop-loss at 0.98369. Long positions can be opened above the level of 0.98572 with the target at around 0.98877 and stop-loss at 0.98470. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 16, 2019 Report Share Posted December 16, 2019 USD/CAD: TECHNICAL ANALYSIS 16.12.19 Current trend USD/CAD quotes attempted to grow, but reaching 1.31855 mark moved to a decline. If the sellers manage to decline the rate below the level of 1.31680, the correction can continue to the area of 1.31531. This level seems strong support which can activate an upward rebound. However, the breakdown of this level will give a prospect of decline to 1.31226 support. Alternative scenario The pullback above 1.31836 resistance and pair’s sustained trading above this level will be a signal for upward trend resumption and let the price retest 1.32039 resistance. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.32141. In this case, the next targets of buyers will be the level of 1.32446. Technical indicators Technical indicators reflect the moderate maintenance of the current downward trend. Bollinger Bands are converging on the background of bearish momentum. MACD is in the negative zone, keeping a sell signal. Stochastic is pointed downwards. Support and resistance Support levels: 1.31680, 1.31531, 131226. Resistance levels: 1.31836, 1.32039, 1.32141, 1.32446. Trading recommendations Short positions can be opened below the level of 1.31531 with the target at around 1.31226 and stop-loss at 1.31631. Long positions can be opened above the level of 1.31836 with the target at around 1.32141 and stop-loss at 1.31734. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 16, 2019 Report Share Posted December 16, 2019 EUR/USD: TECHNICAL ANALYSIS 16.12.19 Current trend The EURUSD pair begins today’s trading with a slight bullish bias. The price went up above the middle line of Bollinger Bands (1.10278) and can grow further to the level of 1.10389. This level can activate a downward rebound, while its breakout would be a signal for upward trend resumption and give a prospect of growth to the area of 1.11694 resistance. Alternative scenario The rebound from 1.11389 and pullback below 1.11222 could lead the price back to 1.11084 support which seems a key level for the sellers in the short term period. The decisive breakdown of 1.11080 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 1.10779. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the positive zone, forming a week sell signal. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.11222, 1.11084, 1.10779. Resistance levels: 1.11389, 1.11694, 1.12000. Trading recommendations Short positions can be opened below the level of 1.11080 with the target at around 1.107779 and stop-loss at 1.11180. Long positions can be opened above the level of 1.11389 with the target at around 1.11694 and stop-loss at 1.11289. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 17, 2019 Report Share Posted December 17, 2019 AUD/USD: TECHNICAL ANALYSIS 17.12.19 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. Now the pair is trying to consolidate below the support 0.68606. Assuming the pair’s ability to cross this level, the mark of 0.68512 and the 0.68359 can be targeted if holding short positions. Alternative scenario The rebound from 0.68606 and pullback above 0.68741 will be a signal for upward correction formation and let the price grow to the area of 0.68890 (the middle line of Bollinger bands). This level seems a key correction target that can activate a downward rebound. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.68970. In this case, the next targets of buyers will be the area of levels 0.69275-0.69380. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic is pointed downwards. Support and resistance Support levels: 0.68606, 0.68359, 0.68054. Resistance levels: 0.68741, 0.68970, 0.69275. Trading recommendations Short positions can be opened below the level of 0.68606 with the target at around 0.68359 and stop-loss at 0.68688. Long positions can be opened above the level of 0.68970 with the target at around 0.69275 and stop-loss at 0.68868. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 17, 2019 Report Share Posted December 17, 2019 USD/JPY: TECHNICAL ANALYSIS 17.12.19 Current trend USD/JPY continues to consolidate in the side channel 109.485-109.671, after the breakdown of which, it is better to enter the market. If the "bulls" manage to raise the rate above the level of 109.671, the upward dynamic can continue to the area of 109.766. However, any attempted recovery seems more likely to get sold into aggressively near this region. Meanwhile, the breakout and consolidation of the price above it will give the prospect of growth to the new highs surrounding 110.000 resistance. Alternative scenario Should prices continue slipping under 109.485, the level of 109.375 might try activating an upward rebound. The breakdown and holding below will be a signal for downward trend formation and let the price decline to 109.287-109.180 support area. This zone seems like a “key” zone for the sellers. The decisive break of 109.180 is needed to indicate a downward trend resumption. In this case, the next targets of sellers will be the level of 108.984. Technical indicators The technical picture is mixed. Bollinger Bands are pointed upwards. MACD volumes are decreasing in the positive zone. Stochastic is pointed downwards., forming a sell signal. Support and resistance Support levels: 109.485, 109.375, 109.180, 108.984. Resistance levels: 109.671, 109.766, 110.000. Trading recommendations Short positions can be opened below the level of 109.375 with the target at around 108.984 and stop-loss at 109.505. Long positions can be opened above the level of 109.671 with the target at around 109.765-110.000 and stop-loss at 108.660 Link to comment Share on other sites More sharing options...
Andy.atx Posted December 17, 2019 Report Share Posted December 17, 2019 GBP/USD: TECHNICAL ANALYSIS 17.12.19 Current trend GBP/USD quotes attempted to decline, but reaching 1.32348 mark moved to an upward correction. If the "bulls" manage to raise the rate above the level of 1.33057 (the middle line of Bollinger bands), the correction can continue to the area of 1.33355-1.33667. The area of 1.33667 seems a strong resistance area, which can activate a price reverse. Meanwhile, the breakout of this level will be a signal for upward trend resumption and let the price grow to the area of 1.34277. Alternative scenario The rebound from 1.33057 and pullback below the support of 1.32446 will give a prospect of decline to 1.32135-1.31836 support. This level will be a “key” for the sellers. There is a chance of an upward rebound, while its breakdown would allow the fall to continue. Technical indicators The technical picture is mixed. Bollinger Bands are pointed upwards., reflecting the maintenance of the upward potential. MACD volumes are decreasing in the positive zone., forming a weak sell signal. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.32446, 1.31836, 1.31226. Resistance levels: 1.33057, 1.33667, 1.34277. Trading recommendations Short positions can be opened below the level of 1.32400 with the target at around 1.32135-1.31836 and stop-loss at 1.32588. Long positions can be opened above the level of 1.33057 with the target at around 1.33355-1.33667 and stop-loss at 1.32853. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 18, 2019 Report Share Posted December 18, 2019 EUR/JPY: TECHNICAL ANALYSIS 18.12.19 Current trend On the 4-hour chart, the pair keeps a negative dynamic. The price went down below the strong support level of 121.875 and can fall further to the level of 121.484. This mark can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the decisive break of 121.484 is needed to accelerate the downward trend resumption. In this case, the next targets of sellers will be the support level of 121.094. Alternative scenario The upward rebound from 121.875 and pullback above 122.020 (which corresponds to the middle line of Bollinger Bands) will give a prospect of growth to the resistance area 122.266-122.451. Should prices continue growing above 122.451, the mark of 122.656 might try activating a price reverse. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 121.795, 121.484, 121.094. Resistance levels: 122.020, 122.266, 122.451, 122.656. Trading recommendations Short positions can be opened below the level of 121.795 with the target at around 121.484 and stop-loss at 121.898. Long positions can be opened above the level of 122.020 with the target at around 122.266-122.451 and stop-loss at 121.880. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 18, 2019 Report Share Posted December 18, 2019 XAU/USD: TECHNICAL ANALYSIS 18.12.19 Current trend The XAU/USD pair begins today’s trading with a slight bullish bias. The instrument is now testing the resistance level of 1477.14. If the "bulls" manage to raise the rate above this level, the growth can continue to the area of 1480.47 mark. This level can activate a downward rebound, while its breakout would give a prospect of growth to the 1484.38 resistance. Alternative scenario The pullback and pair’s sustained below 1474.87 will be a signal for downward trend formation and let the price test the 1472.66 support. One may speak about downward movement continuation after the price consolidates below the level of 1472.00. In this case, the next targets of sellers will be the level of 1468.75. Technical indicators Technical indicators mostly maintain a moderate buy signal. Bollinger Bands are pointed upwards. MACD is slowly growing in the positive zone. Stochastic is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 1474.87, 1472.66, 1468.75. Resistance levels: 1477.14, 1480.47, 1484.38. Trading recommendations Short positions can be opened below the level of 1474.87 with the target at around 1472.66-1470.00 and stop-loss at 1476.10. Long positions can be opened above the level of 1477.14 with the target at around 1480.47 and stop-loss at 1476.14. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 18, 2019 Report Share Posted December 18, 2019 NZD/USD: TECHNICAL ANALYSIS 18.12.19 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The price went down below the support level of 0.65613 and can fall further to the level of 0.65308. This level seems a “key” for the sellers in a short term period. There is a possibility of an upward rebound, while its breakdown would allow the fall to continue and give a prospect of decline to 0.65002 support. Alternative scenario The upward rebound from 0.65613 and sustained trading above the 0.65720 will be a signal for upward correction formation and let the price grow to the area of 0.65918 level, which coincided with the middle line of Bollinger Bands. This mark can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive break of 0.65918 is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 0.65273. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.65531,00.65308, 0.65002. Resistance levels: 0.65720, 0.65918, 0.66223. Trading recommendations Short positions can be opened below the level of 0.65531 with the target at around 0.65308 and stop-loss at 0.65605. Long positions can be opened above the level of 0.65918 with the target at around 0.66223 and stop-loss at 0.65818. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 19, 2019 Report Share Posted December 19, 2019 USD/CAD: TECHNICAL ANALYSIS 19.12.19 Current trend USD/CAD is in the stage of upward correction after falling to the level of 1.31032, but the downward general downward trend is still maintained. The decisive break of 1.31000 support is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 1.30920, 1.30768. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.31226, the correction can continue to the area of 1.31531, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound, while its breakout will be a signal for upward trend resumption and give a prospect of growth to the 1.31836 resistance. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Meanwhile, as the Stochastic is in the oversold area, and the price has broken the lower border of Bollinger Bands, the upward correction is not excluded. Support and resistance Support levels: 1.31032, 1.30920, 1.30615. Resistance levels: 1.31226, 1.31531, 1.31836. Trading recommendations Short positions can be opened below the level of 1.31000 with the target at around 1.30920-1.30768 and stop-loss at 1.31077. Long positions can be opened above the level of 1.31226 with the target at around 1.31531 and stop-loss at 1.31124. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 19, 2019 Report Share Posted December 19, 2019 USD/CHF: TECHNICAL ANALYSIS 19.12.19 Current trend On the 4-hour chart, the instrument keeps a moderate negative dynamic. Now the price is testing the support level of 0.97961, which hinders the fall of quotes. If the sellers manage to decline the rate below this level, the decline can continue to the area of 0.97809-0.97656. Alternative scenario The rebound from 0.97961 and pullback above 0.98154 (which corresponds to the middle line of Bollinger Bands) will be a signal for upward trend formation. In this case, the next targets of buyers will be the level of 0.98267. The level of 0.98267 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the decisive break of 0.98267 will give a prospect of growth to the area of 0.98419 resistance. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.97961, 0.97809, 0.97656, 0.97504. Resistance levels: 0.98114, 0.98267, 0.98419. Trading recommendations Short positions can be opened below the level of 0.97961 with the target at around 0.97809-0.97656 and stop-loss at 0.98062. Long positions can be opened above the level of 0.98154 with the target at around 0.98267-0.98419 and stop-loss at 0.98065. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 19, 2019 Report Share Posted December 19, 2019 EUR/USD: TECHNICAL ANALYSIS 19.12.19 Current trend The EUR/USD pair begins today’s trading with slight bullish bias due to correction. The first target of the correction is the level of 1.11389, which corresponds to the middle line of Bollinger Bands. Assuming the pair’s ability to cross this level, the mark of 1.11542 can be targeted if holding long positions. Alternative scenario The rebound from 1.11389 could lead the price back to 1.11237-1.11084 support zone. A significant decrease is possible after the breakdown of the level 1.11084. In this case, the next targets of sellers will be the level of 1.10931-1.10779. Technical indicators Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are slightly pointed upwards. MACD histogram is ready to enter the positive zone and form a buy signal. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.11237, 1.11084, 1.10931, 1.10779. Resistance levels: 1.11389, 1.11542, 1.11694. Trading recommendations Short positions can be opened below the level of 1.11084 with the target at around 1.10931-1.10779 and stop-loss at 1.11185. Long positions can be opened above the level of 1.11389 with the target at around 1.11542-1.11694 and stop-loss at 1.11287. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 20, 2019 Report Share Posted December 20, 2019 AUD/USD: TECHNICAL ANALYSIS 20.12.19 Current trend AUD/USD is in the stage of a downward correction after growing to the resistance level of 0.69000 but the general upward trend is still maintained. The decisive break of 0.69000 is needed to indicate uptrend resumption. In this case, the next targets of buyers will be the area of levels 0.69275-0.69380. Alternative scenario If the sellers manage to decline the rate below the level of 0.68822, the decline can continue to the area of 0.68665 support. The area of 0.68665-0.68605 can activate an upward rebound. However, the breakdown of 0.68605 level will be a signal for downward trend resumption and let the price fall to the 0.68359 support. Technical indicators The technical picture is mixed. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in the positive zone., keeping a buy signal. Stochastic is preparing to exit the overbought zone and is directed downwards, signaling the development of a downward correction. Support and resistance Support levels: 0.68822, 0.68665, 0.68359. Resistance levels: 0.69000, 0.69275, 0.69380. Trading recommendations Short positions can be opened below the level of 0.68822 with the target at around 0.68605 and stop-loss at 0.68894. Long positions can be opened above the level of 0.69000 with the target at around 0.69275 and stop-loss at 0.68905. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 20, 2019 Report Share Posted December 20, 2019 USD/JPY: TECHNICAL ANALYSIS 20.12.19 Current trend USD/JPY quotes attempted to grow, but reaching 109.398 mark moved to a decline. If the sellers manage to decline the rate below the level of 109.270, the price can return to 109.180 support. This level seems an important mark for the sellers. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the 108.984 support. Alternative scenario The pullback and pair’s sustained trading above the 109.400 resistance will give a prospect of growth to the 109.477 resistance (which is the middle line of Bollinger Bands). One may speak about upward movement continuation after the price consolidates above the resistance level of 109.570. In this case, the next targets of buyers will be the level of 109.766. Technical indicators The technical picture is mixed. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the positive zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 109.270, 109.180, 108.984. Resistance levels: 109.375, 109.570, 109.766. Trading recommendations Short positions can be opened below the level of 109.270 with the target at around 109.180-108.984 and stop-loss at 109.365. Long positions can be opened above the level of 109.570 with the target at around 109.765 and stop-loss at 109.505. Link to comment Share on other sites More sharing options...
Andy.atx Posted December 20, 2019 Report Share Posted December 20, 2019 GBP/USD: TECHNICAL ANALYSIS 20.12.19 Current trend GBP/USD is in the stage of upward correction after falling to the level of 1.2329, but the downward trend is still maintained. The breakdown of the support level 1.30005 will let GBP/USD continue the downward dynamic and reach the area of levels 1.29700-1.29395. Alternative scenario The pullback and pair’s sustained trading above the 1.30310 level will be a sign of an upward correction and give a prospect of growth to the 1.30615 resistance. The key target of the “bullish” correction will be the level of 1.31226, which corresponds to the middle line of Bollinger Bands. There is a chance of a downward rebound, while its breakout would be a signal for upward trend resumption. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.30005, 1.29700, 1.29395, 1.29784. Resistance levels: 1.30310, 1.30615, 1.31226. Trading recommendations Short positions can be opened below the level of 1.30000 with the target at around 1.29700 and stop-loss at 1.30100. Long positions can be opened above the level of 1.30310 with the target at around 1.30615 and stop-loss at 1.30210. Link to comment Share on other sites More sharing options...
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