USD/JPY Shows Little Change; Sharp Fluctuation Seen For GBP/USD
ICN.com | Nov 18, 2015 04:26AM ET
USD/JPY
USD/JPY has showed very little change, forming a small candlestick yesterday; however, the closing was achieved again above 76.4% Fibonacci level.
All eyes are on 123.55-123.60, as a break above these levels will indicate potential upside rally resumption.
Anyway, we remain bullish on the USDJPY pair due to stability above important Fibonacci level, while RSI14 may cause fluctuation without a change in the direction.
Support: 123.20-122.80-122.50
Resistance: 123.60-124.15-124.40
Direction: Bullish
USD/CHF
Despite the overbought signs on momentum indicators, but the USD/CHF pair succeeded in achieving a daily closing above 100% Fibonacci at 1.0125 as seen on the provided daily chart.
More upside actions are to be witnessed, while 113% Fibonacci at 1.0265 could be the soft target for bulls now.
Only a break back below 1.0050 support may limit the positivity.
Support: 1.0100-1.0050-0.9990
Resistance: 1.0175-1.0200-1.0260
Direction: Bullish
EUR/USD
Trading below 113% Fibonacci at 1.0660-1.0665 suggests potential downside wave resumption, targeting 127.2% Fibonacci.
ADX shows some weakness in the downtrend, but the overall bearish classical pattern remains valid in addition to the negativity on moving averages.
A break above 1.0785 will cancel out the bearish scenario.
Support: 1.0610 – 1.0570 – 1.0530
Resistance: 1.0680 –1.0710 – 1.0785
Direction: Bearish
GBP/USD
Sharp fluctuation has been seen on the GBP/USD pair within a tight range that damaged the bearish outlook yesterday with moving below 1.5205 again.
Get The News You Want
We can’t suggest a direction now and we will be neutral until the pair proves clearing 1.5170, as risk versus reward ratio is inappropriate.
Note, a four-hour closing above 1.5230 will trigger more upside actions.
Support: 1.5170 – 1.5135 – 1.5100
Resistance: 1.5260 – 1.5315 – 1.5395
Direction: Neutral
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.