12.11.201908:41 Forex Analysis & Reviews: Technical analysis recommendations for the EUR/USD and GBP/USD on November 12

Economic calendar (Universal time)

Today, important statistics from the United States are missing again. At the same time, the publication of the following significant indicators is expected from the Eurozone:

9:30 UTC+00 unemployment data + change in average earnings in the UK;

10:00 UTC+00 index of economic sentiment in Germany.

EUR / USD

On the first day of the new week, the pair indicated braking. The center of gravity in this situation is 1.1030 (weekly Tenkan + daily Fibo Kijun). The development of the upward correction will lead the pair to the most important resistance zone of this area, formed immediately by several significant levels of 1.1060-65 (daily Senkou Span B + daily Kijun) - 1.1082 (weekly Fibo Kijun) - 1.1096 (daily Tenkan). If the players on the decline are now limited only to braking in a small range, then when the minimum is updated (1.1016), they can resume the decline, realizing the bearish potential of last week. In this case, the closest bearish reference will be the lower border of the daily cloud (1.0973).

At the moment, on H1, upward players continue to fight for the central pivot level, which is located at 1.1031 today. Further, their interests will be able to focus on the conquest of the weekly long-term trend (1.1057) and the reversal of moving. However, failure in this direction will contribute to the completion of the upward correction (1.1016) and the restoration of the downward trend. Today, intraday support can be provided by the classic pivot levels S1 (1.1018) - S2 (1.1004) - S) - S3 (1.0991).

GBP / USD

The pair performed a retest of the levels completed on the eve. As a result, several significant levels of 1.2882 (daily Tenkan + monthly Fibo Kijun) - 1.2959-63 (weekly cloud) - 1.3012 (maximum extremum) are now located immediately before the players on the increase. Securing the above will allow us to consider new perspectives. The formation of a rebound from the resistance levels encountered will create the prerequisites for the continuation of the decline, while the closest important reference of which is the support zone 1.2700 - 1.2600 (daily Fibo Kijun and Kijun + monthly Tenkan + weekly Tenkan and Fibo Kijun).

Today, the key support for lower time frames combined their efforts at 1.2845 (central pivot level + weekly long-term trend). The location of the pair above these levels gives the players an advantage over the increase. In this situation, it should be noted that the classic pivot levels on H1 today are as solid as possible with the goals set for players to increase from the higher halves, as the resistances they formed are located at 1.2904 (R1) - 1.2957 (R2) - 1.3016 (R3). On the other hand, the weakening of the bullish positions now is the fact that they are in a deep downward correction and the proximity of key supports. Thus, a fixation below 1.2845 will affect the distribution of forces and open the way for continued decline. The main interest of players to lower after the resumption of the decline will be to close yesterday's upside gap and restore the downward trend. In the process, the rebound necessary for the bears from the encountered resistance will be formed in the older halves.

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