Trading Conditions
Products
Tools
EUR / USD
The players to increase managed to close August above the July high and keep the bullish mood at the monthly candlestick, despite the fact that it was not possible to achieve a great performance in August, as the pair spent most of the time in the correction and consolidation zone. This result was given to the upsiders, so it is possible that they can take a break again in September. Nevertheless, if upward traders manage to hold on and reliably restore the upward trend, then their interests in September will be directed to the rise to the upper limit of the monthly cloud (1.2167), testing it, with the prospect of fixing in the bullish zone relative to the monthly cloud. In this situation, support can be indicated in the area of 1.1875-46 (daily cross) - 1.1740 (lower border of the monthly cloud) - 1.1621 (weekly short-term trend).
There is an upward trend in the lower halves, so technical instruments support players to rise. The classic pivot levels R2 (1.2011) and R3 (1.2055) now act as upward targets within the day. On the other hand, the key supports on H1 are located today at 1.1929 (central pivot level) and 1.1866 (weekly long-term trend), while intermediate support can be noted at 1.1891 (S1). A consolidation below the key supports will change the current balance of power at H1 and will lead the pair to more important support levels for the daily cross (1.1875-46).
GBP / USD
Following the week, the bulls managed to positively close the month. The current upward trend is now being guided by the monthly cloud (lower limit 1.36 + upper limit 1.4588) and the weekly target for the breakout of the Ichimoku cloud (1.4218 - 1.4530). The nearest significant support zone in the current situation unites the daily cross (Tenkan 1.3247 + Kijun 1.3139) and the historical level of 1.32.
The upward trend is currently in its active phase, while the bulls are supported by all analyzed technical instruments. The nearest upward targets within the day are R2 (1.3448) and R3 (1.3502). Meanwhile, the key supports on H1 are now located at 1.3353 (central pivot level) and 1.3250 (weekly long-term trend + S2). In turn, the nearest support can be noted at S1 (1.3312). A consolidation below will change the balance of power in the lower halves and deprive the pair of support for the daily short-term trend. Further, the historic level of 1.32 will be very important.
Ichimoku Kinko Hyo (9.26.52), Pivot Points (Classic), Moving Average (120)
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.