range

Hello again everybody,

We started the London session today with a look at the Yen pairs, which are all close to confirming bearish setups mid-term – by the time of this writing there has not been a clear breach of the support lines yet.

EURUSD reached up to 1.4862 and seems to be losing momentum, our analysis shows the possibility of a retracement back to 1.4780 and lower based on the wide range we can observe on the daily charts.

GBPUSD confirmed a bullish mid-term outlook and completed a bullish EW on hourly charts, which is why we are bearish on it down to 1.9560 (200MA on 1h and 38.2 fib of the entire wave up) but bullish starting with that level, as a larger formation is possibly starting to unfold towards 2.0200 during the following weeks.

Have a great weekend!

Hi everybody! We mainly focused on EURUSD today, as the pair seems to be starting a consolidation phase 1.4490-1.4780 with direction to be settled during the next days. For now, it appears that the larger timeframes are somehow ambiguous, but the 1h and lower are showing possible retracement down after yesterday’s sharp move. Also noticed bearish signs on GBPUSD and AUDUSD short-term, however they seem to be part of larger consolidations.
Will keep an eye on the market for possible trading setups on these pairs.

Wednesday’s Jan 14th midday analysis -13.00 GMT

EurUsd retraced in the Asian session to the 50% Fibonacci line of yesterday’s down move and finding resistance at the 1.4850 area resumed the move down breaking below 1.4800. Without any surprises as we’ve had recently the pair should continue toward the 1.4700 target zone.

GbpUsd covered over 120 points so far today but failed to move decisively under yesterday’s low at 1.9550; until we see this happening the pair will maintain trading inside the current range between the 1.9550 support and below 1.9670 resistance.

Thursday’s Dec 20th midday analysis -13.00 GMT

EurUsd failling to print a new low in yesterday’s US session gave bulls enough reason to push the pair higher and so it touched the 1.4400 intraday resistance and after that we saw a small retracement towards the 50.0 Fibonacci of yesterday’s trading renage. We may a second attempt at the 1.4400 level in today’s remaining trading hours.

GbpUsd traded inside Thursday’s range, and after it didn’t manage to break a new low we are trading just under the 1.9900 resistance and chances are the pair will head higher in the US session.

Wednesday’s Dec 19th midday analysis -13.00 GMT

EurUsd has entered into the 3rd consecutive tight range day, it covered today only 50 pips with the mention that it broke under the trendline connecting monday and tuesday’s lows and has already retested the trendline now turned into resistance and one could expect a move lower later on in the US session.

GbpUsd broke lower today when the BOE minutes got out, and before that the pair surged higher and tested the 2.0180 intraday resistance. Today’s low at 2.0030 is just pips away from the Fibonacci Expansion target we mentioned a while back and we are looking to get closer to the 2.00 area in the following hours.