18 December, 2014
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal.
Chinkou Span line is below the price chart; Senkou Span A and Senkou Span B lines have almost
merged prior to the cloud reversal. The pair has broken down the cloud and I still falling.
The lower border of the cloud (1.2371) is the closest resistance level. One of the previous
minimums of Chinkou Span line is expected to be a support level (1.2259).
On the daily chart Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span
line is below the price chart, current cloud is descending. Aftre long correction the pair resumes
downward trend with target of 1.2061. The closest ressitance level is Tenkan-sen line (1.2407).
Support levels: 1.2259, 1.2061.
Resistance levels: 1.2371, 1.2407.
On the four-hour chart we’ve got a strong signal to sell, and on the daily chart the pair
continues to fall. Target for the short-term sell positions is 1.2259, for long-term sales – 1.2061.
On the 4-hour chart, the pair is trading near the level of 15.32 (23.6% correction). The price is supported by the 38.2% fan line, directed up, and the level of 15.05 (38.2% correction)...
Since the beginning of this week, the pair continues strengthening amid some reduction in anxiety on the market. The Dollar was supported by data on Retail Sales that came out in the US on Friday. In January, the index grew by 0.2% that was slightly better than forecasts of economists...
Since the middle of the previous week, the price of Brent crude oil continues growing amid weakness of the US Dollar. In addition, the price is supported by expectations of the reduction in output by major world producers...
On the daily chart, the pair is trading just above the lower MA of Bollinger Bands. The price remains below the EMA130, EMA65 and EMA14, all directed down. The RSI is failing to break out from the oversold zone as it tested its resistance at 32 mark two times last week...
On Thursday, the price of gold fell to its 5-year lows. The Bearish trend accelerated amid macroeconomic statistics form the US than strengthened expectations of an interest rates hike on the US in December...
The price remains under pressure amid strengthening US Dollar that was significantly supported after the publication of strong NFPR data in the US that substantially increased chances of an interest rate hike in December...
On the 4-hour chart, the price is trading in the area of 48.10 which is seen as a particularly strong level as 23.6% Fibonacci both for the short-term and medium-term trends have concentrated in the area of 48.10-47.80...
At the end of last week, the price of Brent crude oil strengthened moderately, being supported by the weakness of the US dollar which failed to hold its positions, gained after the recent Fed meeting...
Last week the price of gold significantly grew. The pair remains under pressure amid concerns on the markets that the Fed will refrain from an interest rate increase before the end of the year...