Trading Conditions
Products
Tools
EUR/USD
The situation has not dramatically changed. The pair remains in the uncertainty zone. Moreover, due to the insignificant daily range of movement, a consolidation has recently been formed slightly above the current center of 1.1290 (monthly level). Some levels of the daily cross are now used as additional support (1.1308 - 1.1297 - 1.1284 - 1.1261), which are currently joining forces with the center of attraction. At the moment, the nearest upward pivot point is the resistance of the weekly short-term trend (1.1403).
Uncertainty also dominates in the smaller timeframes. However, it can be noted that some advantage of forces remains on the bullish side. The bulls are supported by key levels, which are around the 1.1314-21 area (central pivot level + weekly long-term trend). In case of an increase, we can note the upward pivot points – the resistances of the classic pivot levels (1.1340 - 1.153 - 1.1372). In case of a decline, the support of the classic pivot levels set at 1.1308 - 1.1289 - 1.1276 can be considered.
GBP/USD
Bullish traders are trying to close December with a preponderance of their moods, so they continue to rise for now. They managed to update last week's high (1.3435) yesterday. The weekly levels (1.3429 - 1.3475) are providing resistance to the strengthening of bullish sentiment. On the other hand, the nearest support level here is the weekly level of 1.3358.
The pound remains bullish in the smaller timeframes. The pivot points to resume growth in the H1 chart are at 1.3459 - 1.3479 - 1.3514 (classic pivot levels). In case of a correction, the key levels form supports at 1.3424 (central pivot level) and 1.3365 (weekly long-term trend). The nearest support can be noted at 1.3404 (S1).
***
Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.
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.