Articles by Forex analysis review

After quite an exciting Monday trading, the overnight Asian session passed in a quiet atmosphere. AUD found support for the RBA message and NZD did not suffer any revision of the RBNZ mandate. The work on tax law in the US is slow (but forward). Crude …

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USD/JPY has been trading in a volatile and corrective manner towards the resistance area of 114.25-50 from where the price is currently expected to show some bearish move. JPY has been quite impulsive with the recent gains which has led to a strong bul…

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The price has broken major support and is on route to our profit target. We now look to sell on strength below major resistance at 132.30 (Fibonacci retracement, horizontal overlap support) for a strong push down to at least 131.52 support (Fibonacci e…

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The price has continued to rise perfectly to our profit target. We now prepare to sell below major resistance at 0.6968 (Fibonacci retracement, Fibonacci extension, bearish divergence) and we expect to see a strong reaction from this level to push the …

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The index stays alive in the bullish bias held since last week above the 200 SMA at H1 chart. The nearest resistance is placed at the 95.14 level, where a break should expose the 95.85 level across the board. Currently, price action doesn’t suggest fur…

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The pair has started the week with a consolidation above the support zone of 1.3037, at which could gather momentum in order to extend the recovery towards the 200 SMA at H1 chart. However, we’re expecting that support zone of 1.3037 gives up to allow …

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The Bitcoin has been quite corrective and bearish after breaking above the $7,000 price level. The gain after the break above the $7,000 level was quite corrective and volatile which was quite as expected as the price has moved impulsively in a non-vol…

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EUR/USD has been quite bearish in nature after the break and retest off the 1.1660. USD has been quite positive with the economic reports recently which helped the currency to gain some momentum against EUR. Recently US Non-Farm Payroll report was publ…

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The Bitcoin (BTC) has been trading sideways at the price of $7,343. After shutting down the country’s bitcoin exchanges, the Chinese government is monitoring the booming cryptocurrency over-the-counter (OTC) market. A recent government report shows that 680 million yuan, approximately $103 million, were traded in the last two weeks of October on the top three international OTC trading platforms. Technical picture looks netural to bearish.

Trading recommendations:

According to the 1H time frame, I found the resistance cluster at the price of $7,462 on the test. There is a broken upward trendline in the bakcgorund, which is a sign of weakness. I also found a hidden bearish divergence on the RSI oscillator in the background, which is another sign of weakness. My advice is to watch for potential selling oppportunities. The downward targets are set at the price of $7,204 (pivot level) and $7,071 (siwng low).

Support/Resistance

$7.462 – Resistance cluster

$7.204 – Pivot level

$6.945 – Pivot support 1

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The NFP payrolls headlight number was expected at the level of 312k, but the number revealed was at the level of 261k. Nevertheless, this result was far better than 18k a month ago. A report from the US labor market illustrating the condition of this e…

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