*Daily Forex market overviews by MasterForex.com* - page 4
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TREND ANALYSIS OF THE USDCAD FOR 12/09/27
USDCAD
On the 4-hour chart:
After the recoil from the support line 1, the pair was demonstrating the bullish dynamics. The key resistance level 0.9810 was pierced. After that, the price confirmed the resistance level 0.9852 and started the correction of ascending tendency. The moving averages are showing the moderate trend strength.
On the 1-hour chart:
During the correction, the pair declined by more than 30 pips, lost herewith almost all gained for Wednesday. The price is getting close to the level 0.9810 and the support line 1. The moving averages confirm the clear correction.
On the 15-minute chart:
The pair was lowering during the Asian session. After the short testing, the price pierced the level 0.9830, which was later confirmed as a resistance. The support line 1 was formed. In case of correction resumption, the recoil from the level 0.9810 and line 2 is likely.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/09/28
USDCHF
On the 4-hour chart:
The pair remains to move in the upward channel between the lines 1 and 2. Moreover the price arrived into the bearish channel between the lines 3 and 4. The price decreased to the low border of the upward channel during the correction. The Moving Averages show the remaining of the bullish tendency.
On the 1-hour chart:
The price becomes clamped between the support line of the bullish trend on the 4-hour chart 1 and the support line on the 1-hour chart 2. The correction channel had been formed between the lines 3 and 4. The price is testing the support line of the upward channel 1 now. The Moving Averages gave bearish signal.
On the 15-minute chart:
The price places between the support line of the bullish trend 1 and the resistance line of the correction 2. If the support line could be broken the middle-term trend between the lines 3 and 4 on the 4-hour chart will continue. If the resistance line 2 could be broken bullish trend will remain. The break though of the level 0.9365 will be a signal for purchases in the case.
By MasterForex Company
TREND ANALYSIS OF THE GBPUSD FOR 12/09/28
GBPUSD
On the 4-hour chart:
The channel of the downward tendency had been formed finally today. The high border of the channel had been formed as a result of the rebound from the resistance level 1.6260. Moreover the low border had been replaced insignificantly. The correction had finished and the trend dynamics is continuing at the moment. The Moving Averages show flat character of the dynamics.
On the 1-hour chart:
The pair had reached the resistance level 1.6260 and trend dynamics had continued after that. The price moves in the direction of the low border of the correction channel and to the support level 1.6230. The Moving Averages show the reverse downwards.
On the 15-minte chart:
The pair approaches to the low border of the correction channel 2 and to the support level 1.6230. If the line and the level could be broken, traders will reach two signals for sales. If the price could rebound upwards it will start the consolidation between the lines 1 and 2.
By MasterForex Company
TREND ANALYSIS OF THE EURUSD FOR 12/09/28
EURUSD
On the 4-hour chart:
The downward trend between the lines 1 and 2 remains. It is observing the corrections at the moment. The price increased to the resistance level 1.2965 during the recoil. Moreover, the support line of the correction 3 had been formed. The Moving Averages show the remaining of the trend.
On the 1-hour chart:
The correction during the bearish trend remains. The line 3 had been broken in the middle of Thursday. However the price had increased above the line at the end of the day. The pair had broken the resistance line 4 and increased above the support line of the correction 3. The price is consolidations between the support line 3 and the resistance level 1.2940 now. The Moving Averages gave bullish signal.
On the 15-minute chart:
The price is testing the resistance level 1.2940 at the moment. Herewith the upward channel of the correction between the lines 1 and 2 had been formed. If the level could be broken the correction will continue. The rebound from the resistance line of the trend channel 2 and the break through the support line of the correction will be signal for sales in the case. If the support line of the correction could be broken earlier, the trend will continue as well. In the case trades will start to open short positions.
By MasterForex Company
TREND ANALYSIS OF THE USDCAD FOR 12/09/28
USDCAD
On the 4-hour chart:
The pair recoiled from the intersection of the resistance line 1 with the level 0.9852. The support line 2 and level 0.9810 were pierced by the falling price. The nearest key support level lies at 0.9764. The moving averages are showing the turnover of ascending trend.
On the 1-hour chart:
After the confirmation of the level 0.9810 as a resistance, the pair continued the falling and got close to the support 0.9781. The moving averages have given the bearish signal suggesting the turnover of the ascending tendency.
On the 15-minute chart:
During the Asian session, the pair was demonstrating the mixed dynamics with the predominantly bearish tone. The pair is getting close to the support level 0.9781. The accelerating of falling and piercing of the support level will be the signals to resume the sales.
By MasterForex Company
TREND ANALYSIS OF THE USDJPY FOR 12/09/28
USDJPY
On the 4-hour chart:
The pair continued the falling confirmed herewith the resistance line 1. The support level 77.73 was finally pierced after the long testing. The pair is lowering between the lines 1 and 2. The moving averages are showing the descending trend continuation.
On the 1-hour chart:
During the current week, the resistance line 1 was formed. After the recoil from the line in the beginning of the day, the pair accelerated the falling. Now the support line 2 is under testing. The moving averages are showing the speed-up of descending trend.
On the 15-minute chart:
During the Asian session, the pair was lowering within the downward channel between the lines 1 and 2. The nearest support level lies at 77.40. The price recoiled from the resistance line 1, finished the correction period. In case of the falling continuation, the traders will resume the selling.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/10/01
USDCHF
On the 4-hour chart:
The upward tendency is still remaining. The price reached the resistance level 0.9430 during the growth. After that it had started the recoil. The pair places in the downward channel between the lines 3 and 4 as well. The Moving Averages show the upward tendency.
On the 1-hour chart:
The pair rebounded from the resistance line of the downward channel 4 and had not overcome the resistance level 0.9430. The correction began after that and the pair decreased to the line 5 and to the level 0.9395. The Moving Averages show the remaining of the bullish trend.
On the 15-minte chart:
The pair decreased below the line 1 and the level 0.9395. If the price could foothold below the level and the line the correction will continue. The consolidation between the short-term and middle-term trend lines will start in the case.
By MasterForex Company
TREND ANALYSIS OF THE GBPUSD FOR 12/10/01
GBPUSD
On the 4-hour chart:
The bearish trend between the lines 1 and 2 is remaining. The price reached the trend line and rebounded downwards at the second part of Friday. Intensive decrease started after that. Trend dynamics had been interrupted by the next correction. The recoil started from the cross of the support line of the channel 1 and the support level 1.6120. The Moving Averages prepares to give the signal for the bearish trend.
On the 1-hour chart:
The pair started the day with the rebound from the resistance level 1.6154. The price decreased to the support line 3 and recoiled upwards from the support level 1.6120. The correction is remaining at the moment. The Moving Averages show the bearish trend.
On the 15-minute chart:
The price is correction at the moment. It had been formed the support line 1 during the increase. If the tendency could remain the pair will continue to increase from the resistance line 2 on the 1-hour chart. The rebound from the line 2 will be the signal for the remaining of the trend remaining. There is likelihood for the trend continuation from the level 1.6175.
By MasterForex Company
TREND ANALYSIS OF THE EURUSD FOR 12/10/01
EURUSD
On the 4-hour chart:
The downward trend between the lines 1 and 2 remains. The correction started from the support level 1.2815. The Moving Averages confirmed bearish tendency.
On the 1-hour chart:
The pair rebounded from the resistance line of the trend channel and had broken the support line of the correction 3 at the second part of Friday. After that it had started intensive decrease. The next correction began from the support level 1.2815. The price is increasing at the moment. The Moving Averages confirm the recoil.
On the 15-minute chart:
The correction during the bearish trend is remaining at the moment. The support line 3 had been formed during the increase. The correction could remain till the trend line 2. The sales will start in the case of the rebound from the trend line. If the trend line could be broken and the growth will continue traders will expect the confirmation of the bullish tendency. The price could rebound from the resistance level 1.2865 as well. The trend will continue in the case.
By MasterForex Company
TREND ANALYSIS OF THE USDCAD FOR 12/10/01
USDCAD
On the 4-hour chart:
The pair, which was growing along the support line 1 during the last two weeks, failed with piercing of the resistance level 0.9852 backed by the line 2. The nearest support level lies at 0.9810. The moving averages are showing the ascending trend by inertia.
On the 1-hour chart:
During the first part of the Asian session, the pair was demonstrating the bullish dynamics, but after the recoil from the resistance line, the sharply falling followed. The moving averages started to change tilt to bearish, but the dynamics of the last few trading days suggests the large flat.
On the 15-minute chart:
During the second half of the Asian session, the pair was declining rapidly. The level 0.9830 has been pierced. The nearest support lies at 0.9810. Now the pair is in the correction phase of the descending tendency. The turn to flat is likely.
By MasterForex Company