Tag Archive for Analysis

Daily analysis of major pairs for December 11, 2017

EUR/USD: Throughout last week, the EUR/USD pair went downwards by 120 pips, thus leading to a Bearish Confirmation Pattern in the market. While the support levels at 1.1750 and 1.1700 could be tested, it is also expected that a rally will occur sometime this week, owing to a bearish run on the USD/CHF pair.

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USD/CHF: Throughout last week, the USD/CHF pair went
upwards by 160 pips, thus leading to a Bullish Confirmation Pattern in the
market. While the resistance levels at 0.9950 and 1.0000 could be tested, it is
expected that the pair would end up plummeting this week, because CHF would
showcase an extraordinary level of stamina. Other currencies would also drop
versus CHF.

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GBP/USD: The
bullish bias on the GBP/USD pair is not currently strong, because there were some
subtle bearish attacks on the market last week. For the bullish bias to become
strong, price would need to overcome the distribution territory at 1.3550. A
movement below the accumulation territory at 1.3250 would result in a bearish
outlook.

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USD/JPY: This currency trading instrument went
downwards on Monday and Tuesday, and then went upwards on Thursday and Friday.
There is a bullish bias on the market, and the supply
level at 113.50 is expected to be reached – even if there is going to be any major
pullback at last.

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EUR/JPY: This is a choppy, directionless market
(both in the longer-term and the shorter-term), and it is prudent to stay away
from the market until there is a break above the supply zone at 134.50; or
until there is a break below the demand zone at 131.50. This would require a
big momentum, and would happen in less than 14 days to this time.

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

Bitcoin analysis for December 11, 2017

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Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $16,645. Latin America has known far more than its fair share of economic troubles over the years. Whether it’s populist revolutions, military coups or some other calamity, the rich in the region always had to think of how to protect their wealth from possible confiscation, hyperinflation or whatever may come. Unlike in the past when they turned to offshore banking, real estate and gold, the best solution right now is also easily accessible by the poor and middle class, bitcoin. The technical picture looks bullish.

Trading recommendations:

According to the 15M time frame, I found the potential bullish flag pattern in creaction, which is a ign that selling looks risky. My advice is to watch for potential bullish breakout of the pattern to confirm futher upward continuation. The upward target is set at the price of $17,141.00.

Support/Resistance

$16,684– Intraday resistance (price action)

$15,648 – Intraday support

$17,141 – Objective point

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