Author Archive: Forex analysis review

Burning forecast 10/20/2017

Burning forecast 10/20/2017The crisis of Catalonia played against the pound – but the trend has not been reversed.We continue to buy the GBPUSD pair.On Thursday, the rate of the pound along with the euro came under selling pressure.I believe that this …

Trading plan 10/20/2017

Trading plan 10/20/2017 Euro cannot determine the direction, but the traffic is close. The pair EUR/USD attempted to organize growth rate on Thursday, but for the third time in a week, it could not overcome the downward resistance line of the day order…

Daily analysis of major pairs for October 20, 2017

EUR/USD: In the short-term, this pair is neither bullish nor bearish. It is thus better to remain neutral until the price goes above the resistance line at 1.1850 (staying above it), or it goes below the support line at 1.1700 (staying below it). As long as price remains within these two boundaries, the outlook on it would be neutral.

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USD/CHF: By all indication, the bias on this currency trading instrument is bullish – although the market environment looks quite choppy. The price could go towards the resistance level at 0.9850 (strengthening the bullish bias), or the price could go below the support level at 0.9700 (threatening the bullish bias).

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GBP/USD: This market has gone downwards by 180
pips this week and that has resulted in a Bearish Confirmation Pattern in the
market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the
level 50. The price would go further downwards to reach the accumulation
territories at 1.3100, 1.3050 and 1.3000. The accumulation territory at 1.3100
has already been tested.

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USD/JPY: The USD/JPY generated a “buy” signal on Wednesday and then pulled back on Thursday, only to go further upwards after that. The next targets for bulls are located around the supply levels at 113.50 and 114.00. To reach another supply level at 114.50, there is a need for a very strong buying pressure.

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EUR/JPY: The EUR/JPY has continued going upwards
after a bullish signal was generated on it. Price is now above the demand zone
at 132.50, going towards the supply zone at 134.00 (which is the next target).
There is a Bullish Confirmation Pattern in the 4-hour chart.

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The material has been provided by InstaForex Company – www.instaforex.com