The Pound is waiting for news. Overview for 12.12.2019

The Pound is waiting for news. Overview for 12.12.2019

12.12.2019

GBPUSD continues slowly growing in anticipation of parliamentary elections and completely ignores all other news.

On Thursday afternoon, the British Pound is still slowly rising against the USD. The current quote for the instrument is 1.3213.

Today is the zero hour for the United Kingdom and its currency: early parliamentary elections will take place. The Conservative Party headed by the British Prime Minister Boris Johnson expects to win the majority in the House of Commons, thus securing approximation of the Brexit documents in the future.

However, there is another news relating to Brexit. According to the Independent, the United Kingdom and the European Union may not agree on the trade deal in the next 11 months, thus forcing the “hardcore” Brexit scenario. The article says that British and European policymakers didn’t exclude such possibility during their recent meeting. It was said that the parties were very likely to discuss only the most important and essential aspects, but might not have time for everything. It’s pretty risky for the Pound.

However, the British currency will pay attention to such long-term catalysts only after today’s parliamentary elections are over.

rfxsignals December 12, 2019 No Comments

DAILY FREE FOREX SIGNALS – 12-12-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

USDCHF SELL-0.98155
SL-0.98564
TP1-0.97966
TP2-0.97738

GBPUSD SELL-1.32011
SL-1.32543
TP1-1.31783
TP2-1.31535

GBPAUD BUY -1.91756
SL-1.92533
TP1-1.91517
TP2-1.91301

EURAUD SELL-1.61710
SL-1.62293
TP1-1.61482
TP2-1.61207

EURCHF SELL-1.09313
SL-1.09667
TP1-1.09111
TP2-1.08876

CHFJPY BUY -110.659
SL-110.255
TP1-110.872
TP2-111.056

AUDNZD BUY -1.04600
SL-1.04195
TP1-1.04781
TP2-1.04958

EURNZD BUY -1.69252
SL-1.68762
TP1-1.69535
TP2-1.69796

Murrey Math Lines 11.12.2019 (USDJPY, USDCAD)

Murrey Math Lines 11.12.2019 (USDJPY, USDCAD)

11.12.2019

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is consolidating. In this case, the price is expected to break 5/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price rebounds from 5/8 to the downside. After that, the instrument may start a new decline towards the support at 3/8.

USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

USDJPY_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, there has been a false breakout of 5/8. In this case, the pair may fall to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 again. After that, the instrument may continue growing towards the resistance at 6/8.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, we can see that the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards to reach 3/8 from the H4 chart.

USDCAD_M15

Japanese Candlesticks Analysis 11.12.2019 (EURUSD, USDJPY)

Japanese Candlesticks Analysis 11.12.2019 (EURUSD, USDJPY)

11.12.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after completing a quick ascending structure and expanding the descending channel’s borders, EURUSD is still trading close to the resistance level; by now, the pair has reversed after forming Hanging Man pattern. We may assume that later the price may test the resistance level and get back to 1.1055 to resume the descending tendency. However, one shouldn’t exclude a possibility that the price may continue growing towards 1.1133.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the pair continues trading close to the rising channel’s downside border. By now, USDJPY has formed another Hammer reversal pattern. Later, after finishing one more correction, the pair may reverse and resume growing towards 109.60 to continue forming the ascending tendency. At the same time, the pair may choose another scenario and start a new decline to reach 108.54.

USDJPY

Fibonacci Retracements Analysis 11.12.2019 (GBPUSD, EURJPY)

Fibonacci Retracements Analysis 11.12.2019 (GBPUSD, EURJPY)

11.12.2019

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, the uptrend has reached 50.0% fibo. At the same time, there is a divergence on MACD, which may indicate a new pullback. However, the pair may yet continue growing towards 61.8% fibo at 1.3453. The short-term target of the above-mentioned pullback is the local support at 38.2% fibo (1.2883); the key support is the low at 1.1958.

GBPUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the divergence made GBPUSD start a new correction to the downside; the targets at are 23.6%, 38.2%, and 50.0% fibo at 1.2974, 1.2825, and 1.2706 respectively. The resistance is the high at 1.3215.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY continues the uptrend towards 76.0% fibo at 121.55. After breaking this level and fixing above it, the instrument may continue growing towards the high at 123.36. The support is at 38.2% fibo (118.73).

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the divergence on MACD made the pair start a new decline towards the support. If the price breaks it, the decline may continue to reach 61.8% fibo at 118.75. The local resistance is the high at 121.47.

EURJPY_H1

Forex Technical Analysis & Forecast 11.12.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

11.12.2019

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending wave at 1.1097; right now, it is consolidating at the top. Possibly, the pair may expand this range downwards and upwards, 1.1074 and 1.1084 respectively. If later the price breaks this range to the upside, the market may choose an alternative scenario and continue moving upwards to reach 1.1114; if to the downside – resume trading inside the downtrend with the first target at 1.1065.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching 1.3200, GBPUSD is quickly falling and has already formed two descending impulses. Today, the pair may correct towards 1.3154 and then start a new decline with the first target at 1.3090.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the downside target at 0.9835; right now, it is growing towards 0.9880. Later, the market may start a new decline to reach 0.9855 and then form one more ascending structure with the first target at 0.9970.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached 108.75. Possibly, today the pair may fall to break 108.50 and then continue moving downwards with the target at 108.27.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the target of Flag pattern at 0.6807; right now, it is growing towards 0.6834. Possibly, the pair may reach this level and then resume trading inside the downtrend with the target at 0.6817.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Possibly, today the pair may test 63.64 from below and then form a new descending structure with the short-term target at 63.04.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving downwards to reach 1.3217. Later, the market may form one more ascending structure towards 1.3274, thus forming a new consolidation range between these levels. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1.3108; if to the upside – continue the uptrend with the target at 1.3282.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending structure at 1468.62; right now, it is falling towards 1457.21. After that, the instrument may form onу more ascending structure to return to 1468.60 and then resume moving downwards with the target at 1444.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating around 64.60. Possibly, today the pair may fall towards 63.74 and then grow to reach 68.46. After that, the market may start a new decline towards 64.60. If later the price breaks this range to the upside, the market may form one more ascending structure with the short-term target at 68.00; if to the downside – start another correction to reach 62.55.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has broken 7340.00; right now, it is still moving downwards to reach 7030.00. After that, the instrument may resume moving upwards to break 7600.00 and then continue growing with the first target at 8165.00.

BTCUSD

The Pound started Wednesday in a drawdown. Overview for 11.12.2019

The Pound started Wednesday in a drawdown. Overview for 11.12.2019

11.12.2019

GBPUSD is falling on Wednesday morning; investors are “digesting” the statistics and waiting for the US Fed meeting.

The British Pound couldn’t keep its positive momentum and right now is falling against the USD. The current quote for the instrument is 1.3130.

Yesterday, the United Kingdom published quite interesting numbers, but the Pound barely responded to them, because market players were and still are focused on the upcoming early parliamentary elections, which are scheduled on December 12th. However, there was no news about this topic in the morning, that’s why investors switched to the statistics.

The British GDP didn’t change in comparison with the previous reading, although it was expected to add 0.1% m/m. Consequently, the UK’s economy stagnated in October, which is not good for the national currency at all.

The Industrial Production added 0.1% m/m in October, thus recovering a little bit after losing 0.3% m/m in the previous month. The forecast was +0.2% m/m, but the sector wasn’t ready for such growth because businesses couldn’t be sure whether the Brexit would happen or postponed again.

The Construction Output showed -2.3% m/m in October after being -0.2% m/m in September and against the expected recovery by 0.2% m/m.

Today, investors’ attention is focused on the US Fed meeting, the last one this year. As a result, GBPUSD may become more volatile in the evening.

Emotional day for the USD. Overview for 11.12.2019

Emotional day for the USD. Overview for 11.12.2019

11.12.2019

On Wednesday morning, the major currency pair is falling after growing earlier; market players’ attention is totally focused on the US Fed December meeting.

EURUSD is retreating in the middle of the week after growing a little bit yesterday. The current quote for the instrument is 1.1087.

So, the two-day December meeting of the US Federal Reserve will be over today. This is the last meeting of the American regulator in 2019, the year that was a bit different from expectations. The interest rate is highly likely to remain unchanged at 1.50-1.75%, which means that the White House’s lobby on the Fed and its Chairman Jerome Powell is reducing. Or maybe, if miracles happen, of course, the Fed started to assert the right for its own stance and opinion.

Well, as for the interest rate, there is no intrigue around it. However, investors are worried by the comments that may follow after the meeting. In theory, the Fed is expected to provide signals and hints at its strategy for 2020. Everyone is guessing what they might be, but it will be better to wait for facts.

It can be said now that the interest rate was cut enough and the current value is okay for the US economy even if President Donald Trump starts a new trade war tomorrow.

Any signals or hints at further rate cuts in the future may put additional pressure on the USD.

rfxsignals December 11, 2019 No Comments

DAILY FREE FOREX SIGNALS – 11-12-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

GBPUSD SELL-1.31148
SL-1.32071
TP1-1.30845
TP2-1.30557

USDJPY BUY -108.789
SL-108.523
TP1-109.000
TP2-109.168

USDCHF BUY -0.98564
SL-0.98206
TP1-0.98831
TP2-0.99078

EURCHF SELL-1.09134
SL-1.09508
TP1-1.08929
TP2-1.08704

AUDUSD BUY -0.68261
SL-0.67888
TP1-0.68480
TP2-0.68646

EURUSD SELL-1.10836
SL-1.11216
TP1-1.10638
TP2-1.10426

USDCAD SELL-1.32258
SL-1.32629
TP1-1.32077
TP2-1.31935

GBPJPY SELL-142.519
SL-143.173
TP1-142.320
TP2-142.149

EURJPY SELL-120.497
SL-120.840
TP1-120.329
TP2-120.178

Japanese Candlesticks Analysis 10.12.2019 (USDCAD, AUDUSD)

Japanese Candlesticks Analysis 10.12.2019 (USDCAD, AUDUSD)

10.12.2019

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair is forming another descending wave. By now, it has completed Engulfing reversal pattern. The current situation implies that USDCAD may reverse to continue falling towards 1.3171. However, we shouldn’t ignore an alternative scenario, according to which the instrument may continue growing to reach 1.3300 and get back inside the rising channel.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the pair continues forming the ascending tendency. After forming several reversal patterns, such as Engulfing, close to the support level and reversing, AUDUSD is moving in the middle of the rising channel. By now, it has completed Engulfing reversal pattern along with the correction and may later continue trading upwards. In this case, the upside target may be at 0.6888. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may resume falling to return to 0.6760 and update its closest lows.

AUDUSD