FOREX MARKET TECHNICAL ANALYSIS
EUR USD ANALYSIS
EUR/USD traded narrow strip since January
Failed to take out 1.2560 resistance and retreated, break up again on daily basis 1.2560 price level will confirm medium term rally resumption and target next key Fibonacci level at 1.2860
However, sustained price below will extend the consolidation pattern from 1.2091 with another decline through 1.1760 support.
It’s still early to decide whether price action form 1.0339 is developing into a corrective or impulsive pattern, in the bigger picture this is still seen as a corrective move for the moment.
In case of another rally, we’d expect 38.2% retracement of 1.6039 to 1.0339 at 1.2560 to limit upside and or even to yellow strip at 1.2830 and bring reversal.
EUR USD PRICE BELT- same in the past, if this is the case we should expect for…..
 |
| EUR USD ANALYSIS |
GBP USD ANALYSIS
GBP/USD made some strong moves last week: went up higher to 1.4376 but reversed and dropped sharply to close below 1.40
Long-term chart is showing to us that As long as GBP USD will stay above 1.360+_ Key support the trend is up, the medium-term outlook in GBP USD will remain bullish as long Short term charts show us that as long GBP USD will stay above 1.3900+_ the trend is up
Short-term support stay in 1.3890-1.3930+_, resistance in 1.4160
Next Resistance area stay in 1.4350-80 + _, above this, the price GBP USD could test upper levels at 1.4560-1.4620 price area while crossing those prices will send GBP USD to the 1.4920+_ price area with Further targets that could hit the top at 1.55 price area!
Look yellow strip on the charts (since his top at 2.11 at 2007 the journey is followed by correction moves who’s triggered by this yellow strip two times before at 2009 and 2014 ‘ will it stop again in this point? or the journey up finished?
Below 1.3300 price area, it could bring larger down trend resumption, while we have first to meet 1.3080. On the downside, break of 1.2840 support will indicate short-term topping. If it will fail to stay above the level, it will be turned back to the downside for 1.2640 support current
Meanwhile, GBP/USD remains mildly on the upside.
 |
| GBP USD ANALYSIS |
USD JPY ANALYSIS
 |
|
|
This review does not including any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice