Daily Forex market overviews by MasterForex

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TREND ANALYSIS OF THE EURUSD FOR 12/08/01

EURUSD

On the 4-hour chart:

The pair approaches to the resistance line of the downward channel 1 along the support line 2. The price places near the resistance level 1.2315. The Moving Averages show slow upward dynamics.

On the 1-hour chart:

The pair remains the upward dynamics between the lines 1 and 2. The price reached the resistance level 1.2315 during the increase and remains to test it. The Moving Averages show the upward dynamics.

On the 15-minute chart:

The pair started the day with the correction after the rebound from the resistance line 1. The price decreased to the support line 2 during the correction, after that the growth continued. The resistance line 3 had been formed as well. However, it had been broken later. If the tendency could remain the price will reach the resistance line of the downward channel 1 on the 4-hour chart. If the support line could be broken the downward tendency will remain.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/08/01


USDCAD

On the 4-hour chart:

The rebounded from the support line 1 pair was growing until found the resistance at the level 1.0033. The price dynamics could be characterized as a flat. The moving averages are showing the weakening of the trend.

On the 1-hour chart:

The pair was growing between the lines 1 and 2 until the rebound from the level 1.0033. The lowering price formed the resistance line 3. The nearest support lies on 0.9999. The moving averages are showing the consolidation.

On the 15-minute chart:

The pair is fluctuating within the descending channel between the lines 1 and 2. The level 1.0014 was pierced. The price is getting close to the level 1.0004. Recommendation: keep the short positions opened.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/08/01

USDJPY

On the 4-hour chart:

The pair confirmed the resistance by the rebound from it. In addition, the price recoiled from the area 78.11/03 during the last hours. Herewith the moving averages are saving the weak bearish bias. The pair updated the 5-month low at 77.90.

On the 1-hour chart:

The fluctuating price does not have a specific direction of the movement, but the resistance line 1 was confirmed by the multiple rebounds. The moving averages changed the direction to the horizontal sharply.

On the 15-minute chart:

The pair dynamics is restricted by the line 1, while the price find the support on the line 2. The nearest resistance level lies at 78.11. The key support is the level 78.03. Recommendation: refrain from the trading until the forming of the clear tendency.

 

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TREND ANALYSIS OF THE AUDUSD FOR 12/08/01

AUDUSD

On the 4-hour chart:

After the unsuccessful try to pierce the resistance level 1.0536, the pair met the support at the line 1 and touched the level 1.0465. The price is demonstrating the bullish bias now. The moving averages are still showing the ascending trend.

On the 1-hour chart:

The last hours’ dynamics could be characterized as bullish. The pair confirmed the support line 1 and the growth begun. The price is testing the resistance line 2 at the moment. The closest resistance level lies at 1.0536.

On the 15-minute chart:

The pair recoiled from the support 1.0465 and started to grow. The fluctuations of the price formed the ascending channel, clamped by the lines 1 and 2. Recommendation: keep the long positions opened; the aim is the level 1.0536.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/08/02

USDCAD

On the 4-hour chart:

The pair rebounded from the support area 1.0004/0.9999 and grew until met the resistance at the level 1.0051. The sharply growth forced the pair to return all of the lost on this week. The nearest support level lies at 1.0033.

On the 1-hour chart:

After the rapid growth, the pair turned to flat, which was combined with the testing of resistance level 1.0051. The price chart is getting close to the support line 1, which can cause the piercing of resistance. The moving averages gave a late bullish signal.

On the 15-minute chart:

The current dynamics of the pair is running between the support line 1 and resistance line 2. The price started to test the support. Recommendation: close the short positions and wait for the rebound, after which begin to buy.

 

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TREND ANALYSIS OF THE AUDUSD FOR 12/08/02

AUDUSD

On the 4-hour chart:

The second testing of the key resistance level 1.0536 finished by the rebound. As a result of yesterday's fall the pair lowered below the support level 1.0465, but failed to gain a foothold there. The moving averages confirmed the change of the pair movement direction.

On the 1-hour chart:

Despite the mixed dynamic of the last days, we can note the descending tendency, which is described by the resistance line 1 and the support line 2. The pair is getting close to the resistance within the technical correction now.

On the 15-minute chart:

The pair one more time pierced upwards the line 1, along which it is moving at the moment. The growing price is getting close to the resistance line 2 and level 1.0504. Recommendation: keep the long positions opened, but insure them with the close up stop losses in case of the early end of correction.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/08/02

USDJPY

On the 4-hour chart:

The pair rebounded from the support area 78.11/03 and skyrocketed to the resistance level 78.45, returning all of the lost since the beginning of the week. Herewith the resistance line 1 was pierced. The moving averages changed the direction, confirming the end of the descending trend.

On the 1-hour chart:

During the Asian session, the pair was fluctuating between the levels 78.51 and 78.39 consolidating to the middle of the diapason – the level 78.45. The resistance line 1 restricted the today price dynamics. In addition, the support lines 2 and 3 could affect the pair movement.

On the 15-minute chart:

The pair is fluctuating in flat on the 4-pip range around the level 78.45. The price is getting close to the support line 1. The signal of end of the flat would be a piercing of the support 78.39 or resistance 78.51. Recommendation: refrain from the trading until the trend dynamics will appear.

 

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TREND ANALYSIS OF THE USDCHF FOR 12/08/02

USDCHF

On the 4-hour chart:

The pair formed the support line 2 after the breakthrough the resistance line of the channel 1. Moreover it had been formed the level of the previous local high 0.9810.The Moving Averages prepare to give the bullish signal.

On the 1-hour chart:

The break through the resistance line of the channel 1 was the first reverse signal. The second signal was the break through the level of the previous local high 0.9810. The support line 2 had been formed as well. The Moving Averages show the bullish trend.

On the 15-minute chart:

The pair formed the downward channel between the support line 1 and the resistance line 2 after the break through the level 0.9810. If the pair could remain to move below the resistance level 2 the downward tendency will remain. If the line 2 could be broken the growth will continue. Thus traders will start to seek the possibilities for purchases.

 

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TREND ANALYSIS OF THE GBPUSD FOR 12/08/02

GBPUSD

On the 4-hour chart:

The pair broke the support lines 2, 3 and 4 during the decrease to the support level 1.5535. As a result the pair did not have 18 pips to the support line 5. The Moving Averages gave the bearish signal.

On the 1-hour chart:

The pair started the day between the levels 1.5535 and 1.5555. The resistance line 1 had been broken during the dynamics between the levels. The Moving Averages show the downward trend.

On the 15-minute chart:

The pair places between the lines 1 and 2 and fluctuates in flat. If the tendency could remain the pair will remain to increase in the upward channel. The break through the line 2 will be good signal for purchases. If the support level could be broken the pair will continue the decrease. In the case traders will expect the achievement of the support line 5 on the 5-hour chart.

 

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TREND ANALYSIS OF THE EURUSD FOR 12/08/02

EURUSD

On the 4-hour chart:

The pair reached the resistance level 1.2315 and rebounded from it during the increase. As a result it had been formed the support line of the correction 1 during the trend. The resistance line 2 had been formed as well. The Moving Averages show the approach of the reverse downwards.

On the 1-hour chart:

The pair rebounded from the resistance level 1.2315 and formed the resistance line of the decreasing tendency 1. After that the break through the resistance line 2. The price decreased below the level 1.2265 and started to test the support level 1.2240. The Moving Averages gave the bearish signal at the beginning of the trading day.

On the 15-minute chart:

The price started the day between the levels 1.2222 and 1.2240. The pair broken the resistance and formed the resistance line 1 after the second rebound the support level. The price is clamped between the level 1.2240 and the resistance line 1 at the moment. If the resistance line could be broken the pair could increase to the line 3 on the 1-hour chart. If the support levels 1.2240 and 1.2222 could be broken, traders will start to play the pattern «head-n-shoulders» on the 4-hour chart.

 

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TREND ANALYSIS OF THE USDCHF FOR 12/08/03

USDCHF

On the 4-hour chart:

The point of cross of the level 0.9885 and the resistance line 1 had been reached during the increase. The pair formed the resistance line of the correction 2 after the rebound. The pair approaches to the support line of the tendency 3. The Moving Averages gave the bullish signal.

On the 4-hour chart:

The pair remains to increase after the rebound from the support level 0.9755. The Fluctuations restricted by the support line 1 and the resistance line2. The resistance level 0.9885 had been reached. After that the correction started. As a result the resistance line 3 had been formed. The pair moves in the direction of the support level 0.9830. The Moving Averages show the slowdown of the growth.

On the 15-minte chart:

The pair formed the downward channel between the support line 1 and the resistance line 2 during the correction. The price reached the support line 1 to the moment. If it could be a rebound the price will form the support line 3. The pair will be clamped between the support line 3 and the resistance line 2 in the case. If the resistance line 2 could be broken the trend dynamics will continue. If the support line could be broken the decrease will fasten.

 

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TREND ANALYSIS OF THE GBPUSD FOR 12/08/03

GBPUSD

On the 4-hour chart:

Traders played the pattern «head-n-shoulders» after the break through the level 1.5675. The decrease stopped in the point of the cross of the support level 1.5505 and the support line 1. The resistance line 2 had been broken. That was the first signal for the beginning of the correction. The Moving Averages show the downward trend.

On the 1-hour chart:

The pair reached the point of the cross of the level 1.5535 and the line 1 at the end of Thursday. After that the correction had started. The corridor between the support line 2 and the resistance line 3 during the increase. The Moving Averages show the slowdown of the decrease.

On the 15-minute chart:

The pair corrects after the rebound from the support level 1.5505 between the support line 1 and the resistance line 2. The resistance line 3 could be reached soon. If one of the resistance lines could be broken the correction will remain. If the support level could be broken trend will remain.

 

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TREND ANALYSIS OF THE EURUSD FOR 12/08/03

EURUSD

On the 4-hour chart:

The pair remains the downward dynamics below the resistance line 1. The support level 1.2152 had been reached during the downward dynamics. The price corrects with testing of the resistance level 1.2200. The Moving Averages gave the bearish signal.

On the 1-hour chart:

The pair fluctuates between the support line 2 and the resistance line 1. The support level 1.2152 had been reached during the decrease. After that it was a rebound to the resistance level 1.2200. The Moving Averages show the bearish tone.

On the 15-hour chart:

The pair started the correction after the rebound from the point the cross of the support lines 1 and 2 and the support level 1.2200. The price moves in the direction of the line 4. If the tendency could remain the levels 1.2200 and 1.2222 will be broken and the resistance line 4 will be reached. If the level could not be broken the price will continue trend dynamics. In the case of the break through the level 1.2152 will be a signal for purchases.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/08/03

USDCAD

On the 4-hour chart:

The growing pair pierced the resistance 1.0051 after the short testing, but the growth was restricted by the level 1.0072. The followed falling was the reason of another break through the 1.0051. The moving averages show the forming of the flat tendency.

On the 1-hour chart:

The price recorded the weekly high at 1.0083. The pair is in the correction phase within the weekly ascending trend. The support line 1 is under testing now. The moving averages changed the direction confirming the correction.

On the 15-minute chart:

The lines 1 and 2 were clamping the lowering pair until it pierced the support. The price reached the support line 3. In case of its piercing, it is recommended to sell. If the support will be confirmed, open the long positions only after break through the line 1 and level 1.0051.

 

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TREND ANALYSIS OF THE AUDUSD FOR 12/08/03

AUDUSD

On the 4-hour chart:

The pair has been fluctuating in flat in the 50-pip diapason around the level 1.0465 during the last day. The closest resistance level lies at 1.0536, while the support could be found at 1.0427. The moving averages confirm the change of bullish trend to flat.

On the 1-hour chart:

The rapidly falling pair found the support at 1.0442 and started the growth. The fluctuating price formed the ascending channel by the support line 1 and resistance line 2. The resistance line 3 was pierced. The reaching of previous local high at 1.0520 will be a signal, which confirms flat.

On the 15-minute chart:

The growing pair pierced the resistance line 1 and now tries to gain a foothold above it. The line 2 is under testing at the moment. In addition, the price is getting close to the resistance level 1.0504. Recommendation: keep the long positions opened.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/08/03


USDJPY

On the 4-hour chart:

The pair continued the flat movement between the resistance level 78.45 and support area 78.11/03. The moving averages confirm the horizontal tendency. The pair is growing after rebound from the support now.

On the 1-hour chart:

At the beginning of the Asian session the pair declined by 16 pips, but after the unsuccessful testing of support 78.11, it returned all of the losses. The price got close to the resistance 78,24. The moving averages changed the bearish bias to the neutral.

On the 15-minute chart:

The current growth is restricted by the support line 1 from the bottom and the resistance line 2 from the top. The pair is testing the resistance 78.24, break through which will open the way to the area 78.35/39. That moment will be a good enter point for the long position.

 

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TREND ANALYSIS OF THE USDCAD FOR 12/08/06

USDCAD

On the 4-hour chart:

The pair remains the downward tendency between the lines 1 and 2. The price reached the resistance line of the downward channel 1 in the point of the cross of the lines 3 and 4 earlier. The price rebounded from the support line 5. The pair consolidates between the lines 1 and 5. The Moving Averages show the downward trend.

On the 1-hour chart:

The pair rebounded from the line 1 and started to increase with the formation of the support line 2. The price moves in the direction of the resistance line 3. The Moving Averages show the slowdown of the decrease.

On the 15-minute chart:

The pair formed the support line of the upward tendency 2 after the rebound from the line 1. The level 1.0000 had been broken and the pair reached the level 1.0018.The price consolidates between the support line and the resistance level to the moment. If the tendency could remain it will be expects the break through the consolidation level 1.0018 and the growth will continue the growth in the direction of the resistance line 6. If the level could not be broken the pair will continue the decrease. In the case the break through the line 1 and the level 0.9984 will be good signals for the decrease.

 

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TREND ANALYSIS OF THE USDCHF FOR 12/08/06

USDCHF

On the 4-hour chart

The pair decreased below the line 2 and lowered to the level 0.9685 after the break through the support line 1. The levels 0.9830, 0.9795 and 0.9750 had been broken during the decrease. The pair rebounded upwards and reached the line 2 after the support line 0.9685 had been broken. The Moving Averages show the downward trend.

On the 1-hour chart:

The pair rebounded from the line 1 at the beginning of the day. After that the price increased higher the level 0.9685 and the line 2. The line 3 had been formed during the growth. The pair reached the line 4 to the moment. The Moving Averages show the slowdown of the decrease.

On the 15-minute chart:

The pair formed the support line 2 after the rebound from the line 1. If the tendency could remain the rebound from the line 3 will be confirmed and the price will continued the trend dynamics. The break through the level 0.9750 will be a good point to open the long position. If the pair could rebound from the line 4 and could break the line 2, the decrease will continue. The break through the level 0.9685 will be a good entering point for the short position.

 

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TREND ANALYSIS OF THE USDJPY FOR 12/08/06

USDJPY

On the 4-hour chart:

The pair directed to the support line 1 after the rebound from the resistance line 2. The price decreased below the level 78.47. The Moving Averages prepare to give the bullish signal.

On the 1-hour chart:

The pair started the decrease after the rebound from the resistance lines 1 and 2. The lines 3 and 4 had been formed. The price moves between the levels 78.28 and 78.39 to the moment. The Moving Averages show the slowdown of the growth.

On the 15-minute chart:

The pair rebounded from the line 1 and decreased to the line 2 with the break through the level 78.39 to the moment. If the tendency could remain the pair will break the line 2 and will decrease to the support level 78.00. If the price could rebound upwards, the pair will continue the dynamics along the resistance line 2 on the 4-hour chart.

 

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TREND ANALYSIS OF THE GBPUSD FOR 12/08/06

GBPUSD

On the 4-hour chart:

The pair increased to the level 1.5645 and formed the resistance line3 after the rebound from the lines 1 and 2. The price moves in the direction of the support level 1.5588. The Moving Averages show remaining of the downward tendency.

On the 1-hour chart:

The pair broken the resistance line 1 and reached the line 2 at the end of Friday. The pair recoiled downwards after the line 2 had been reached. As a result, the pair was clamped between the lines 1 and 2. The Moving Averages show the slowdown of the growth.

On the 15-minute chart:

The pair fluctuates in the downward directed in the corridor between the lines 1 and 2. The pair places near the low border of the channel to the moment. The resistance line 3 had been formed as well. If the tendency could remain, the pair will break the line 1 and continue the decrease in the direction of the level 1.5595. If the line 3 could be broken, the pair will rebound to the resistance line of the channel.