EUR / USD

analytics5f87f82158eb3.jpg

Yesterday was not particularly effective. The pair remained in the attraction zone of the daily cross 1.1764 – 1.1729, which favors the bulls more. Now, their task is to weaken bearish intentions and keep working in the daily and monthly Ichimoku clouds (1.1688 lower limit of the monthly cloud). The level of 1.1811 (weekly Tenkan + daily Fibo Kijun) is still the most important resistance in the current conditions.

analytics5f8819403fb8a.jpg

The euro/dollar pair in the smaller time frame is now in the upward correction zone. The bulls, in turn, use the support level of 1.1745 and take advantage of technical indicators. If the resistance of the weekly long-term trend (1.1777) is taken, it will help influence the situation and the distribution of forces more globally. On the other hand, if yesterday’s low (1.1720) is updated, the bears will restore the downward trend on the hourly TF and further decline. Here, the support for classic pivot levels (1.1720 – 1.1694 – 1.1669) will act as downward targets within the day.

GBP / USD

analytics5f87f8392cb8e.jpg

A kind of “swing” was observed yesterday. Despite the new low, the bulls managed to almost completely level out bears’ achievements. As a result, the pound/dollar pair retained its key support and continues to work in the daily bullish cloud. Now, breaking through the resistance levels, which the future fate and plans of the bulls depend on, are still located at the limits of 1.3076 (weekly Tenkan) – 1.32 (historical level) – 1.3349 (lower limit of the monthly cloud). The zones of the most significant and defining supports have also not changed their location and values – 1.2943-1.2878 (daily cloud + daily cross + weekly Fibo Kijun) and 1.2777-1.2711 (weekly Kijun + monthly Fibo Kijun).

analytics5f88194339548.jpg

At the moment, the bulls have the advantage on the hourly TF. Nevertheless, the current decline has led the pair again to test the key supports of 1.2977-91 (central pivot level + weekly long-term trend) in the smaller time frames. Working above the supports keeps the advantage on the bulls’ side and a consolidation below which will swing the balance in favor of the bears. Today, the classic pivot levels are located at 1.3093 – 1.3178 – 1.3294 (resistance) and 1.2892 – 1.2776 – 1.2691 (support).

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classical), Moving Average (120)

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.