Forex Technical Analysis & Forecast 27.12.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

Forex Technical Analysis & Forecast 27.12.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

27.12.2019

EURUSD, “Euro vs US Dollar”

EURUSD has formed an upside continuation pattern around 1.1100; right now, it is growing to reach 1.1121. After that, the instrument may start a new correction towards 1.1109 and then form one more ascending structure with the short-term target at 1.1133.

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”

GBPUSD has formed the consolidation range around 1.2985; right now, it is moving upwards. Possibly, the pair may reach 1.3050 and then start a new correction towards 1.3017. Later, the market may resume trading upwards with the target at 1.3067.

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 formed the consolidation range around 0.9807; right now, it is moving downwards. Possibly, the pair may break 0.9797 and then continue falling towards 0.9783.

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 109.60; right now, it is falling. Possibly, today the pair may break 109.45 to the downside and then continue moving downwards with the target at 109.14.

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 is still moving upwards. Possibly, the pair may reach 0.6957 and then start a new correction towards 0.6930. Later, the market may form one more ascending structure with the target at 0.6979.

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 has returned to 62.25; right now, it is consolidating below it. Today, the pair may break the range to the downside and reach 62.00. Later, the market may start another growth towards 62.38 and then resume trading inside the downtrend with the target at 61.47.

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 has broken 1.3131 downwards; right now, it is still falling to reach 1.3072. Later, the market may start a new correction towards 1.3118 and then resume trading downwards with the target at 1.3050.

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 been able to fix above 1507.70; right now, it is still trading upwards to reach 1515.70. After that, the instrument may start a new correction to return to 1507.70 and then extend this ascending wave towards 1518.45.

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

BRENT

After reaching 67.28 and forming an upside continuation pattern, Brent is still moving upwards. Possibly, today the pair may reach 67.77 and then start a new correction towards 67.28. After that, the market may resume trading upwards with the target at 68.04.

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 rebounded from 7350.00 downwards; right now, it is still falling to reach 7000.00. Later, the market may resume trading inside the uptrend to return to 7350.00.

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

USDJPY is keeping balance. Overview for 27.12.2019

USDJPY is keeping balance. Overview for 27.12.2019

27.12.2019

At the end of the week, USDJPY reached stability after plunging the day before.

The Japanese Yen recovered a little bit after yesterday’s decline against the USD. The current quote for the instrument is 109.50.

Investors that had a couple of days off due to Christmas are back to the market and their interest in the USD as a “safe haven” asset went down.

Today’s reports from Japan were pretty interesting. The Unemployment Rate went from 2.4% in October to 2.2% in November, although it wasn’t expected to change. It looks like the Japanese population sees slowdown in the national economy and vague outside market conditions, and tries to find new sources of income.

The Retail Sales lost 2.1% y/yin November after decreasing by 7.0% y/y the month before and against the expected reading of -1.7% y/y, but it is not surprising: people prefer to save money due to the same dim economic outlook.

The preliminary report on the Industrial Production showed -0.9% m/m in November after being -4.5% m/m in the previous month. The indicator has been falling for two consecutive months, which may indicate a slowdown in the country’s GDP in the fourth quarter. However, the reason for this decline is quite clear: both Export and Consumer Spending went down. Taken together, they have a significant negative influence on the country’s economy.

Such mixed statistics may well be a reason for implementing additional QE mechanisms by the Bank of Japan.

Fibonacci Retracements Analysis 27.12.2019 (BITCOIN, ETHEREUM)

Fibonacci Retracements Analysis 27.12.2019 (BITCOIN, ETHEREUM)

27.12.2019

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the convergence made the pair reverse and start a new rising correction, which has already reached 23.6% fibo and may yet continue towards 38.2% and 50.05% fibo at 7995.00 and 8480.00 respectively. However, if the price breaks the local low at 6430.30, BTCUSD may continue falling to reach mid-term 76.0% fibo at 5700.00. The key mid-term downside target is still the low at 3121.90.

BTCUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is correcting after the divergence on MACD. The price has already reached 38.2% fibo; right now, it is trading close to this level. The next descending impulse may fall to reach 50.0% and 61.8% fibo at 7059.00 and 6910.00 respectively. The resistance is the high at 7687.30.

BTCUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, the downtrend continues to reach a psychologically-crucial level of 100.00. At the same time, there is a convergence on MACD, which may indicate a new pullback towards the resistance (61.8% fibo at 189.00).

ETHUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows a short-term growth towards 23.6% fibo at 135.68 after the convergence. In case it breaks this level, the current rising movement may continue to reach 38.2% and 50.0% fibo at 147.70 and 157.57 respectively. However, if the pair breaks the low, it may test the support at 100.00.

ETHEREUM_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Japanese Candlesticks Analysis 27.12.2019 (GOLD, NZDUSD)

27.12.2019

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After breaking the rising channel’s upside border, XAUUSD has formed Hanging Man reversal pattern. Right now, the downside target may be at 1491.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue trading upwards to reach 1523.00.

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

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming Shooting Star pattern in the center of the channel, NZDUSD is still trading inside this range. In case the price reverses, the downside target may be the closest support level at 0.6637. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may update its highs and grow towards 0.6721.

NZDUSD

Ichimoku Cloud Analysis 26.12.2019 (AUDUSD, NZDUSD, USDCAD)

Ichimoku Cloud Analysis 26.12.2019 (AUDUSD, NZDUSD, USDCAD)

26.12.2019

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6927; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6890 and then resume moving upwards to reach 0.7015. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6850. In this case, the pair may continue falling towards 0.6765.

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

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6648; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6600 and then resume moving upwards to reach 0.6745. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6550. In this case, the pair may continue falling towards 0.6465.

NZDUSD
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 trading at 1.3153; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3180 and then resume moving downwards to reach 1.3045. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3205. In this case, the pair may continue growing towards 1.3305.

USDCAD

Fibonacci Retracements Analysis 26.12.2019 (AUDUSD, USDCAD)

Fibonacci Retracements Analysis 26.12.2019 (AUDUSD, USDCAD)

26.12.2019

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after completing the correction, AUDUSD is forming another ascending impulse. If the price breaks the high, the instrument may continue growing to reach 50.0% and 61.8% fibo at 0.6982 and 0.7057 respectively. The support is still 23.6% fibo at 0.6818.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the price is approaching the high at 0.6938 for testing or maybe even breaking it. If it happens, the pair may continue moving towards the post-correctional extension area between 138.2 and 161.8% fibo at 0.6976 and 0.7000 respectively. At the same time, there is a divergence on MACD, which may indicate a new pullback after the instrument rebounds from the high. The local support is at 0.6838.

AUDUSD_H1
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, the bearish tendency reached 76.0% fibo. However, then there was a convergence on MACD, which made the pair start a new pullback towards 50.0% at 1.3185. The correction may yet continue for some time, but later the instrument is expected to resume its decline to reach the low at 1.3042 or fall even deeper.

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

The H1 chart shows more detailed structure of the current correction after the convergence. After reaching 38.2% fibo at 1.3188, the first ascending wave reversed to return to 23.6% fibo. However, as long as the price doesn’t break the low at 1.3102, the correction may continue. That’s why, the next rising wave will be heading towards 50.0% fibo at 1.3215.

USDCAD_H1

Japanese Candlesticks Analysis 26.12.2019 (EURUSD, USDJPY)

Japanese Candlesticks Analysis 26.12.2019 (EURUSD, USDJPY)

26.12.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has formed Harami reversal pattern close to the channel’s downside border. We may assume that later the price may reverse and get back to 1.1155 to continue the ascending tendency. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1055.

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 in the middle of the rising channel. After completing Hanging Man pattern, the price has reversed. Today’s trading session opened with a gap. Later, USDJPY may form another correction and then resume growing towards 109.90. At the same time, the pair may choose another scenario and start a new decline to reach 108.88.

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

Forex Technical Analysis & Forecast 26.12.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

Forex Technical Analysis & Forecast 26.12.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

26.12.2019

EURUSD, “Euro vs US Dollar”

EURUSD continues growing; right now, it is forming the second ascending impulse with the short-term target at 1.1100. After that, the instrument may form an upside continuation pattern and break this level upwards. The key target of the second impulse is at 1.1133.

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”

GBPUSD has broken 1.2957 upwards. Possibly, the pair may start a new correction towards 1.3010 and then resume trading downwards to return to 1.2957.

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 is trading to break 0.9800 downwards. Possibly, the pair may form a downside continuation pattern. The target of this structure is at 0.9780.

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 broken 109.45 upwards. Possibly, today the pair may grow to reach 109.60 and then form a new descending structure towards 108.99 to finish the correction. After that, the instrument may resume trading inside the uptrend with the target at 109.70.

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 is still moving upwards. Possibly, the pair may break 0.6930 and then continue growing to reach 0.6944, at least. Later, the market may form a new descending structure with the first target at 0.6858.

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 continues falling. Today, the pair may reach 61.63 and then start another correction towards 61.90. After that, the instrument may resume trading inside the downtrend with the target at 61.47.

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. Possibly, the pair may break 1.3150 and then continue falling to reach 1.3131 and complete the correction. Later, the market may form one more ascending structure with the target at 1.3180.

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

XAUUSD, “Gold vs US Dollar”

Gold is trading upwards. Today, the pair may reach 1507.70 (an alternative scenario). The main scenario implies that the price may start plunging at any moment.

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

BRENT

Brent is moving upwards. Possibly, today the pair may reach 67.00 and then start a new correction towards 66.36. After that, the market may resume trading upwards with the target at 67.22.

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 7200.00 downwards. The main scenario implies that the pair may continue the correction towards 7000.00 and then then resume growing to break 7350.00. Later, the market may continue trading inside the uptrend with the target at 8200.00.

BITCOIN

The Yen is retreating. Overview for 26.12.2019

The Yen is retreating. Overview for 26.12.2019

26.12.2019

Some part of investors returned to the market on Thursday and made USDJPY grow quite quickly.

The Japanese Yen is falling against the USD on Thursday. the current quote for the instrument is 109.55.

There is still no important news on the market, but can it really be right after the celebration of Christmas? However, this is the reason why market players prefer the USD, which is considered a more stable currency.

A bit earlier, the Bank of Japan published the Monetary Policy Meeting Minutes. The document says that the regulator will have to extend its cooperation with the Japanese government regarding the country’s economic policy. It sounds reasonable and strategically correct, in case all participants of the process are willing to take control over inflation and economic growth.

The document also says that 7 members of the BoJ voted to keep the interest rate at -0.10%, while 2 were against it.

All policymakers shared the opinion that the impulse to reach economic stability could die out any minute due to the decline of growth rate of global economies. Most likely, trade wars have a significant influence on the export-oriented Japanese economy.

A lot of reports will be published by Japan tomorrow: the Unemployment Rate. the Retail Sales, the Industrial Production, the Tokyo Core CPI, and the BoJ Summary of Opinions.

Ichimoku Cloud Analysis 25.12.2019 (AUDUSD, NZDUSD, USDCAD)

Ichimoku Cloud Analysis 25.12.2019 (AUDUSD, NZDUSD, USDCAD)

25.12.2019

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6921; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6895 and then resume moving upwards to reach 0.7005. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6845. In this case, the pair may continue falling towards 0.6755.

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

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6640; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6610 and then resume moving upwards to reach 0.6725. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6550. In this case, the pair may continue falling towards 0.6465.

NZDUSD
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 trading at 1.3161; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3170 and then resume moving downwards to reach 1.3055. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3205. In this case, the pair may continue growing towards 1.3305.

USDCAD