Eurusd/gbpusd - page 2282
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Difficult times for the Euro. It may rebound from here i think.
EUR/USD briefly broke out below 1.1575 and formed a new low at 1.1555, but now the pair has retraced back above 1.1575 and continues to consolidate above that level. That said, there could still be a breakout to the downside and a drop to 1.1500.
EUR/USD bounced off from 1.1575 after forming a hammer candlestick and an inverted hammer candlestick on the daily time-frame at that level. Currently the pair is testing the resistance at 1.1665, a breakout above that level could lead to a move to the upside towards 1.1800.
I expect a move to the upside.
Eur/Usd recover to 1.1650 zone from a bearish opening, immediate resistance at 1.1690, bullish trend would resume if the pair recover beyond.
Gbp/Usd opens the week with bearish gap, support can be found at 1.3037, I'm expecting further decline if breaks below it.
USDJPY pivot point support/resistance:
S3 - 112.62
S2 - 113.04
S1 - 113.29
R1 - 113.71
R2 - 113.88
R3 - 114.30
As can be seen from the EURUSD D1 chart, since mid-September 2017, each subsequent weekly candle (shown in yellow) is lower than the previous one (almost every one).
In addition, the columns of the MACD diagram are located in the negative side. We do not observe signs of divergence-convergence. Hence, we conclude that the beginning of the week since November 13, 2017 will bring a price reduction for EURUSD. That is, the downward trend will continue as before.
EUR/USD continues consolidating around 1.1660 - 1.1680 although both the doji and the hammer candlesticks on the weekly time-frame at the support at 1.1580 are signals for a likely move to the upside.