Technical analysis of NZD/USD for December 20, 2013
2013-12-19
Overview:
NZD/USD will continue straight from 0.8088 in H4 chart, 00% of Fibonacci retracement levels, as well it is probably going to form a double bottom at the level of 0.8084; therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8088. So it will be a good sign to buy above the level of 00% of Fibonacci retracement levels in H4 chart (the double bottom) with the first target of 0.8250 in order to retest the weekly pivot point and further 0.8400 (it will act as strong resistance, it is going to be a good place to take profit, it also should be noted that this level of taking profit will coincide at 100% of Fibonacci). However, in case a reversal takes place and NZD/USD breaks through the support level of 0.8084, the market will lead to further decline to 0.8012, in order to indicate the bearish market on 20/12/2013.
Notes:
Period: from Friday to next week.
Support: 0.8088
Resistance: 0.8411
Range: 235 pips.
Volatility on 20/12/2013: 368.82
Technical analysis of EUR/USD for December 20, 2013
2013-12-20
Daily pivot point: 1.3695
Overview:
The EUR/USD pair has already formed strong resistance at 1.3700 since yesterday, as well as it should be noted that the support has been broken and turned to resistance on December 20, 2013. It might be noticed that after, it can close above 78.6% Fibonacci retracements levels (1.3700) and start signaling the bearish market from this level, because at the level of 1.3695, there is strong area for selling. Therefore, according to the previous events, the price has still been trapped between 1.3700 and 1.3666, the market indicates bearish opportunity at the level of 1.3700 in order to sell at the level of 1.3695 with the first target of 1.3655 and continue towards 1.3620.
Additionally, in case a reversal takes place and EUR/USD breaks through the support level of 0.3613, the pair will decline futher to 1.3552 (50% Fibonacci retracement levels in H4 chart).
Different outlook:
On the other hand, the level of 1.3550 is going to form a coherent support on 20/12/2013, as a result in the short term it should be bought at 1.3555 with a target at 1.3605. The best place to set stop loss is the area below 1.3520.
Note:
1.3695: it should be noted that the support was broken and turned to resistance on December 20, 2013.
Intraday technical levels for USD/JPY for December 20, 2013
2013-12-20
Today Japan will release some data like Monetary Policy Statement; BOJ Press Conference. The US will release the US-Final GDP q/q; and Fed Chairman Nomination Vote. So there is a probability that USD/JPY will move with low to moderately volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3 : 104.85.
Resistance. 2 : 104.65.
Resistance. 1 : 104.44.
Support. 1 : 104.18.
Support. 2 : 103.98.
Support. 3 : 103.77.
DESCRIPTION:
Please, pay attention to the levels of support 3 (103.77) and resistance 3 (104.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Overview:
NZD/USD will continue straight from 0.8088 in H4 chart, 00% of Fibonacci retracement levels, as well it is probably going to form a double bottom at the level of 0.8084; therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8088. So it will be a good sign to buy above the level of 00% of Fibonacci retracement levels in H4 chart (the double bottom) with the first target of 0.8250 in order to retest the weekly pivot point and further 0.8400 (it will act as strong resistance, it is going to be a good place to take profit, it also should be noted that this level of taking profit will coincide at 100% of Fibonacci). However, in case a reversal takes place and NZD/USD breaks through the support level of 0.8084, the market will lead to further decline to 0.8012, in order to indicate the bearish market on 20/12/2013.
Notes:
Period: from Friday to next week.
Support: 0.8088
Resistance: 0.8411
Range: 235 pips.
Volatility on 20/12/2013: 368.82
Technical analysis of EUR/USD for December 20, 2013
2013-12-20
Daily pivot point: 1.3695
Overview:
The EUR/USD pair has already formed strong resistance at 1.3700 since yesterday, as well as it should be noted that the support has been broken and turned to resistance on December 20, 2013. It might be noticed that after, it can close above 78.6% Fibonacci retracements levels (1.3700) and start signaling the bearish market from this level, because at the level of 1.3695, there is strong area for selling. Therefore, according to the previous events, the price has still been trapped between 1.3700 and 1.3666, the market indicates bearish opportunity at the level of 1.3700 in order to sell at the level of 1.3695 with the first target of 1.3655 and continue towards 1.3620.
Additionally, in case a reversal takes place and EUR/USD breaks through the support level of 0.3613, the pair will decline futher to 1.3552 (50% Fibonacci retracement levels in H4 chart).
Different outlook:
On the other hand, the level of 1.3550 is going to form a coherent support on 20/12/2013, as a result in the short term it should be bought at 1.3555 with a target at 1.3605. The best place to set stop loss is the area below 1.3520.
Note:
1.3695: it should be noted that the support was broken and turned to resistance on December 20, 2013.
Intraday technical levels for USD/JPY for December 20, 2013
2013-12-20
Today Japan will release some data like Monetary Policy Statement; BOJ Press Conference. The US will release the US-Final GDP q/q; and Fed Chairman Nomination Vote. So there is a probability that USD/JPY will move with low to moderately volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3 : 104.85.
Resistance. 2 : 104.65.
Resistance. 1 : 104.44.
Support. 1 : 104.18.
Support. 2 : 103.98.
Support. 3 : 103.77.
DESCRIPTION:
Please, pay attention to the levels of support 3 (103.77) and resistance 3 (104.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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