official Market Update by Solidecn.com

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ADAUSD pair continues to trade within the long-term downward channel.

Since the beginning of last week, the price has been in the range of 0.2685−0.2441 (Murrey levels [3/8]−[2/8]) but today, they are trying to storm its lower border. In case of success, the quotes will open a way to decrease to the area of 0.2197 (Murrey level [1/8]) and 0.1953 (Murrey level [0/8]). The key “bullish” level is the upper limit of the sideways range 0.2685, supported by the middle line of Bollinger bands. If it is broken, the upward dynamics may increase up to 0.3173 (Murrey level [5/8], the upper line of Bollinger bands).

Resistance levels: 0.2685, 0.2929, 0.3173, 0.3418 | Support levels: 0.2441, 0.2197, 0.1953
 

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EURUSD - Trading near the resistance line of the rising corridor

Yesterday, November data on borrowings in the EU countries were presented, which was poor: the volume of loans to enterprises grew by 8.4% instead of the expected 8.6%, and to the private sector – by 4.1% instead of 4.3%. Today, investors will pay attention to the dynamics of the Spanish consumer price index in December, and, according to analysts' forecasts, the index, harmonized with EU standards, may slow down from 6.7% to 6.0%.

 

 

On the daily chart, the quotes of the EUR/USD pair show corrective growth and are confidently holding near the resistance line of the ascending corridor. Technical indicators point to continued growth.

 

Support levels: 1.0574, 1.0396 | Resistance levels: 1.0691, 1.0849

 

[broforex51]

 

CADCHF today we see that the price is in a bearish/downtrend, therefore please follow the trend by opening a sell position, please open a sell when the price breaks the support at 0.6791 with potential profit as long as 50 pips below

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EURUSD Gets New Positive Signal

 

The EURUSD pair leaned on the EMA50 and begins to provide slight positive trades by today’s open, noticing that stochastic overlaps positively now, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which its targets begin by testing 1.0745, noting that breaching this level will extend the bullish wave to reach 1.0840 areas.

 

 

Therefore, the bullish trend scenario will remain valid and active, noting that breaking 1.0640 might press on the price to provide intraday negative trades that target testing 1.0515 areas before any new attempt to rise.

 

The expected trading range for today is between 1.06 support and 1.0760 resistance.

 

[broforex51]

 

NZDUSD today as we see here, the price still in sideways area but big trend is bullish / up, so it is good if you open buy position, you can open buy position when the price breaks resistance area at 0.6515 with potential target up to 50 pips above

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Silver - Growth is possible.

If the assumption is correct, the XAGUSD pair will grow to the area of 26 – 27. In this scenario, critical stop loss level is 22.64.

 

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Crude Oil - Growth is possible.

If the assumption is correct, the asset will grow to the area of 93.25 – 100.5. In this scenario, critical stop loss level is 76.50.

 

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EURUSD Tests the Moving Average

The EURUSD pair continues to provide weak trades around the EMA50, noticing that stochastic attempts to provide positive signals, waiting to motivate the price to resume the bullish wave that targets 1.1030 as a next station.

Therefore, the positive scenario will remain active as long as 1.0845 level remains intact, reminding you that breaking this level will put the price under intraday pressure to test 1.0745 areas before any new attempt to rise. The expected trading range for today is between 1.0800 support and 1.0960 resistance.
 

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GBPUSD Needs Strong Positive Motive

The GBPUSD pair fluctuates within tight track since last Friday, settling above the EMA50 that forms good intraday support against the price, to keep our bullish overview that its targets start by breaching 1.2440 to open the way to head towards 1.2595.

 

 

On the other hand, we should note that breaking 1.2320 will push the price to achieve some intraday bearish correction before turning back to resume the main bullish trend again. The expected trading range for today is between 1.2320 support and 1.2485 resistance.

 

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EURJPY Begins to Decline

The EURJPY pair surrendered to the frequent negative pressures to form new bearish waves and reach 140.55, approaching the first waited target. 

Note that the moving average 55 crawl towards 141.80 and forming additional barrier will increase the speed of the bearish track, to expect crawling towards 139.80 soon, followed by repeating the pressure on the additional support 138.20. The expected trading range for today is between 141.35 and 139.80. 
 

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GBPCAD holds above the support

The GBPCAD pair confirmed keeping the bullish attempts by providing new positive close above the minor bullish channel’s support line at 1.6470, to manage to renew the bullish rally and settle near 1.6555.

 

 

Now, stochastic attempt to provide the positive momentum allows us to suggest more positive attempts, to target 1.6680 level soon, while surpassing it will push the price to reach the additional stations at 1.6800 and 1.6930 levels. The expected trading range for today is between 1.6490 and 1.6680.

 

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NZDUSD Breaks the Support

The NZDUSD pair broke the bullish channel’s support line clearly and turns to decline on the intraday basis, targeting visiting 0.6365 followed by 0.6275 levels as main negative targets.

Therefore, the bearish bias will be expected for today, and breaking 0.6430 will ease the mission of achieving the suggested targets, noting that breaching 0.6510 will stop the expected decline and lead the price to resume the main bullish track again. The expected trading range for today is between 0.6370 support and 0.6500 resistance. 
 

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GBPUSD Technical Analysis

The GBPUSD pair trades negatively to break 1.2320 and attempts to hold below it, which urges caution from the upcoming trading and makes us prefer to stay aside until the price confirms its situation according to this level, as confirming the break will push the price to achieve bearish correction that its targets begin by testing 1.2155 and extend to 1.1940, while consolidating above it will reactivate the positive scenario that its targets begin by testing 1.2440.

The expected trading range for today is between 1.2250 support and 1.2400 resistance.
 

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GBPCHF Begins to Decline

The GBPCHF pair surrendered to the domination of the bearish bias by providing new negative close below 1.1480 resistance and start forming new negative waves by reaching 1.1280.

The negative stability below the moving average 55 and stochastic additional negative momentum signals confirm the continuation of the negativity, to expect suffering additional losses soon by targeting 1.1210 followed by repeating the pressure on the additional support 1.1105. The expected trading range for today is between 1.1340 and 1.1210. 
 

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USDCHF Declines Again

The USDCHF pair couldn’t hold for long time above 0.9240 level, to trade with strong negativity and reach 0.9160 level now, which puts the price under expected additional negative pressure in the upcoming period, targeting visiting the recently recorded low at 0.9085 as a next negative station.

 

 

Therefore, the bearish bias will be expected for today unless breaching 0.9240 and holding above it. The expected trading range for today is between 0.9085 support and 0.9210 resistance.

 

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NZDUSD Still Negative

The NZDUSD pair settles below the EMA50 that forms negative pressure against the price, to keep the bearish trend active, waiting to head towards 0.6365 as a first target. Stochastic provides negative signals that support the expected decline, reminding you that the continuation of the bearish wave depends on the price stability below 0.6510.

The expected trading range for today is between 0.6370 support and 0.6480 resistance.
 

 

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EURGBP Continues to Rise 

The EURGBP pair succeeded to resume the bullish attack to surpass 0.8870 level and provide positive close above it as appears on the chart, to record some additional gains by touching 0.8900 level.

Note that the main stability within the bullish channel and the major indicators attempt to provide the additional positive momentum support the positive attempts for the near term and medium term period, to keep waiting to achieve new gains that might start at 0.8925 and 0.8970. The expected trading range for today is between 0.8870 and 0.8970. 

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EURUSD Hits the Target

The EURUSD pair rallied upwards strongly to succeed achieving our waited target at 1.1030, moving within major bullish channel that supports the chances of achieving more rise in the upcoming period, noting that breaching the mentioned level will extend the bullish wave to reach 1.1185 areas.

Therefore, the bullish trend scenario will remain suggested on the intraday and short term basis, noting that failing to breach 1.1030 might force the price to rebound bearishly and achieve some intraday bearish correction before turning back to rise again. The expected trading range for today is between 1.0950 support and 1.1110 resistance.
 

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EURJPY Fluctuates Below the Barrier

The EURJPY pair repeated the weak sideways trades to settle below the additional barrier 142, which allows us to keep the bearish overview, reminding you that it is important to gather the negative momentum to ease the mission of declining towards the initial negative stations represented by 140.80 and 140.25.

The expected trading range for today is between 142.00 and 140.25.
 

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Gold Technical Analysis

Gold price ended yesterday below the bullish channel’s support line that appears on the chart, to start bearish correction for the rise measured from 1616.65 to 1959.75, on its way to visit 1878.8 as a first correctional target.

Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 1928.6 will stop the current negative pressure and lead the price to regain the main bullish trend again. The expected trading range for today is between 1890 support and 1930 resistance.