Stay 
Trading Conditions
Products
Tools
EUR/USD
Despite testing the upper daily limit, yesterday the EUR/USD weakened and ended the day near the levels of 1.2170-35 (record high+ weekly Tenkan + daily Tenkan). The confrontation persists. At the moment bears are not yet able to push the pair lower to the target levels of 1.2101 – 1.2065 – 1.2054 (upper limit + weekly Fibo Kijun + low extremum). In order to regain their positions and push the pair higher, bulls need to break above the levels at 1,2202 (Kijun) – 1,2236 (Fibo Kijun).
On the H1, yesterday bears failed to develop a further decline and keep the situation below the key levels. As a result, the GBP/USD pair is currently rising again above the weekly long-term trend and the pivot level of the day. It may climb to 1.2148. The market is gripped by uncertainty. So, the key levels for the second day are in an almost horizontal position. The resistances of the classic pivot levels, which serve as upward potential levels within the day, are now at 1.2187 – 1.2216 – 1.2255. The supports of the pivot levels, as downward potential levels, are today at 1.2119 – 1.2080 – 1.2051.
Once again, the pair is not able to develop the daily short-term trend. After having tested it, the pair completed a downward correction and updated the high of the current movement, returning to the uptrend. It is attempting to rise to the level of 1.3904. The support level for this area is the daily short-term trend, which is located at 1.3639.
The bulls have regained their advantage. The resistance levels of the classic pivot levels, located on the left side of the chart, serve as an upward target within the day. 1.3780 – 1.3830 – 1.3915. The key levels today are in the area of 1.3695-91 (central pivot level + weekly long-term trend). If the pair fails to hit this level, the pair will face selling pressure. They will focus on the support level of the daily Tenkan (1.3639). Daily support is located at 1.3645 (S1) - 1.3560 (S2) - 1.3510 (S3).
Ichimoku Kinko Hyo (9.26.52), Pivot Points, 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.
