Technical analysis on all major pairs | 14th May 2018

[Guest Rafiul]

Technical parameters | (14^th – 18^th) May

Possible entry point with critical support and resistance level. But when you trade this level make sure that you are using price action confirmation signal. We have prepared these key support and resistance level based on the Fibonacci retracement levels, 100&200 SMA, key swings point and chart patterns formed in the higher time frame. Focus on NZDUSD technical analysis

 

EURUSD

Look for buying opportunity near the critical support.

First critical Resistance: Click here

Second critical Resistance: 1.21856

First critical Support: Click here

Second Critical Support: 1.15705
 

Overall Sentiment: Slightly bullish

 

For GBPUSD, AUDUSD, NZDUSD, and GBPJPY analysis

 

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 All the technical parameters are applicable from 14^th May to 18^th May 2018. The overall sentiment indicates the prevailing trend of the market. We highly recommend you to trade in favor of the market sentiment (overall sentiment) to reduce the risk exposure in trading. Trade the critical support and resistance level with price action confirmation signal. If you want to get the technical chart analysis along with logical explanations, feel free to contact us.

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[BillyR]

On a daily chart, sg dollar to us dollar appears to be struggling to make further progress to the upside after breaking above a descending resistance line just about one month ago. The pair appears to have formed resistance around 1.3469 and has now tested it twice. Simultaneously, the presence of negative RSI divergence warns that prices may soon turn lower as upside momentum ebbs.

From here, near-term support seems to be the 50% midpoint of the Fibonacci retracement at 1.3361. A push below that exposes the 38.2% level at 1.3278. On the other hand, a push above resistance places the 76.4% Fibonacci retracement at 1.3548 as the next target.