GBP/NZD, EUR/USD: January 19, 2018
FxPro Financial Services Ltd | Jan 19, 2018 08:59AM ET
The GBP/NZD pair has formed a rising channel in the 1-Hour timeframe, the bottom of which is supported by the chart’s 3 main moving averages, the 50, 100 and 200-Hour MAs. The area is centred just below the 1.90000 support level and round number, with a weak two-touch trend line close by. The next level of support is at 1.89545, just above the 200-Hour MA. A loss of this targets the low of the week from Monday at 1.88450. Below the 1.88000 level is the previous resistance turned support level of 1.87750, which has a descending trend line close below it. Further support can be found at 1.86640.
Resistance overhead can be found at the descending trend line at 1.90828, with the 1.90924 resistance just above. The rising channel top is located at 1.91211 and continues to gradually rise. 1.92000 can form an area of resistance should price continue to follow the Channel higher.
EUR/USD
The pair has consolidated sideways this week, forming a range between the 1.23223 resistance level and the 1.21640 support area. So far today, the Blue trend line is acting as support at 1.22590 and should this fail, the price may find support at the Red trend line located at 1.21740, close to the 200-Hour MA which is rising nearby. Support below here can be found at 1.21111, followed by 1.20809. The 1.20250 level is the last support before the 1.20000 round number.
Resistance for today is at the day’s high of 1.22960, close to the 1.23000 round number and part of its zone of control, the same level that provided resistance early on Monday. This is followed by the week’s high as mentioned above.
Get The News You Want
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.