03.12.201910:52 Forex Analysis & Reviews: Technical analysis recommendations for EUR/USD and GBP/USD on December 3

Economic calendar (Universal time)

Today, the economic calendar of leading European currencies does not contain important events, but you need to pay attention during the day to data on business activity in the UK construction sector (9:30), as well as to the expected hearings of the Monetary Policy Committee (Great Britain).

EUR / USD

The previously identified prerequisites and initial advantages allowed the pair to rise to the most important resistance on the first day of the new week and month. Breaking through the level of 1.1082 (daily Kijun + weekly Fibo Kijun + upper border of the daily cloud) and eliminating the daily dead cross (1.1102), which now strengthens the target for the breakdown of the H4 cloud (1.1092 - 1.1105), will allow players to return to increase to the breakdown plans for the key resistance of this section - the monthly Tenkan (1.1145) and the weekly Kijun (1.1145). On the other hand, breaking through the levels (1.1145) and securely consolidating above are new prospects and opportunities not only for the current situation, but also for more global prospects in the development of the pair's movement.

Yesterday, key support for the lower halves has coped with the task. As a result, the bulls managed to rise to new maximums and have the full advantage today. Inside the day, classic pivot levels located at 1.1111 - 1.1144 - 1.1198 are now playing resistance and upward orientations. The most significant support during the day will be 1.1057 (central pivot level) and 1.1021 (weekly long-term trend). Now, consolidating below will change the current balance of forces and will require a new assessment of the situation.

GBP / USD

Players on the upside continue to maintain in support the key levels of this section, which have now joined their efforts in the region of 1.2882 (monthly Fibo Kijun + weekly cloud + daily cross), and due to which, the pair rises slowly but surely and will already have in the near future the ability to test the maximum extreme (1.3012). Now, consolidating above will allow you to restore the upward trend in the daily and weekly time interval.

In the lower halves, support for all analyzed technical instruments is on the side of the players on the upside at this moment. Meanwhile, an upward trend is observed in its active phase. Now, resistance R2 (1.2980) is encountered, and thus, breaking through is possible. The next bullish indicator intraday is 1.3012 (R3). Today, the lower key support is located at 1.2927 (central pivot level) and 1.2905 (weekly long-term trend).

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