Daily Market Analysis By FXOpen

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USDCAD Technical Analysis – 14th NOV, 2024
USDCAD – Resistance of Channel is Broken

USDCAD was unable to continue its Bearish momentum and after touching a low of 1.3968 the prices started to rise upwards against the United States Dollar today in the US Trading session.
The Resistance of channel is broken in the 15-minutes timeframe.
We have seen Bullish trend reversal: adaptative moving average 20 in the 15-minutes timeframe.
Also, the MACD crosses UP its Moving Average in the 15-minutes timeframe.

Also, we see the CCI indicator is overbought: over 100 in the daily timeframe indicating a Neutral market.
We have seen the formation of Bullish engulfing lines in the weekly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.

USDCAD is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.
• Loonie Bullish reversal seen above the 1.3968 mark.
• Short-term range appears to be Bullish.
• USDCAD continues to remain above the 1.4000 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 1.4019 which is a 1-Month High.
USDCAD is now trading near to its Pivot levels of 1.4008 and is moving into a Bullish channel.
The price of USDCAD remains above its Classic support levels of 1.3981 and is now moving towards its next target of 1.4023 which is a Pivot Point 1st Resistance Point.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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USDJPY Technical Analysis – 14th NOV, 2024
USDJPY – Near Support of Channel

USDJPY was unable to continue its bearish momentum and after touching a low of 155.04 the prices started to correct upwards against the United States Dollar today in the US Trading session.
We can see that the prices are Near Support of Channel in the 15-minutes timeframe.
We see Bullish trend reversal: adaptative moving average 20 in the 15-minutes timeframe.
Also, we see the formation of Doji in the 2-hourly timeframe indicating a Neutral market.

Also, we have detected that the RSI indicator is overbought: over 70 in the 4-hourly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We can see the prices are Near a new HIGH record (5 years) in the weekly timeframe.
Also, we see that the Aroon indicator bullish trend in the weekly timeframe.

USDJPY is now trading above its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Yen Bullish reversal seen above the 155.04 mark.
• Short-term range appears to be Bullish.
• USDJPY continues to remain above the 155.90 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 156.24 which is a 1-Month High.
USDJPY is now trading near to its Pivot levels of 155.99 and is moving into a Bullish channel.
The price of USDJPY remains above its Classic support levels of 155.59 and is now moving towards its next target of 156.42 which is a Pivot Point 2nd Level Resistance.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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Mastering Multiple Timeframe Trading Strategies

In the fast-paced world of trading, the ability to analyse and interpret multiple timeframes can be one of the advantages of a trader. In this FXOpen article, we will delve into the concept of multiple timeframes in trading and consider two multiple timeframe trading strategies based on it.

Understanding Multiple Timeframes

Multiple timeframes refer to the simultaneous analysis of price data across charts with different periods. This approach allows traders to gain a comprehensive view of the market's dynamics. The use of multiple timeframes is paramount in trading for several reasons.

TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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Netflix (NFLX) Stock Hits Another All-Time High

The daily chart for Netflix (NFLX) shows that its price has risen by more than 10% since the start of November, setting a series of new all-time highs. Today, Netflix's stock price is trading above $830.

The bullish momentum is attributed to several factors, including stronger-than-expected Q3 earnings:
→ Earnings per share (EPS): Actual = $5.40, Expectations = $5.11;
→ Revenue: Actual = $9.82 billion, Expectations = $9.11 billion;
→ Monthly active users: Reached 70 million.

Additionally, as reported by Benzinga, investor optimism has been bolstered by expectations that Donald Trump’s pro-business tax-cut policies could increase consumer spending, particularly in discretionary sectors like streaming video.

Technical Analysis of NFLX Stock

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Brent Crude Oil Analysis: Bulls Hold the Line at Key Support

The XBR/USD chart reveals that Brent crude oil is trading near its lowest levels of the year.

Several factors are pressuring oil prices:
→ China's uncertain demand outlook: As the world's largest crude oil importer, any signs of weakening demand weigh heavily on the market.
→ A strengthening US dollar: Since Brent is priced in USD, a stronger dollar makes oil more expensive for international buyers, dampening demand.
→ Trump's promises to halt wars, including in the Middle East: This reduces geopolitical risk, which traditionally acts as a bullish factor for oil prices.

Technical Analysis of XBR/USD

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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AUDUSD Technical Analysis – 15th NOV, 2024
AUDUSD – Aroon Indicator Bullish Trend

AUDUSD was unable to continue its bearish momentum and after touching a low of 0.6444 the prices have started to rise upwards against the United States Dollar today in the US trading session.
We can see that the Aroon indicator bullish trend in the 15-minutes timeframe.
We can see Bullish price crossover with Moving Average 20 in the 1-hourly timeframe.
Also, we see that the Momentum indicator is back over zero in the 1-horly timeframe.

We have detected the formation of Moving Average bullish crossovers: AMA20 & AMA50 in the 2-hourly timeframe.
Also, the prices are ranging Near horizontal support in the daily timeframe.
We see that the prices are Near horizontal support in the daily timeframe. The RSI indicator: bullish divergence is also visible in the daily timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets.

We can see RSI indicator: bullish divergence present in the daily timeframe.
AUDUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Aussie Bullish reversal seen above the 0.6444 mark.
• Short-term range appears to be Bullish.
• AUDUSD continues to remain above the 0.6450 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 0.6505 which is a Price 1 Standard Deviation Resistance.
AUDUSD is now trading near to its Pivot levels of 0.6464 and is moving into a Bullish channel.
The price of AUDUSD remains above its Classic support levels of 0.6455 and is moving towards its next target of 0.6526 which is a Price 2 Standard Deviations Resistance.


#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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EURUSD Technical Analysis – 15th NOV, 2024
EURUSD – Bullish Harami Cross

EURUSD was unable to continue its bearish momentum and after touching a low of 1.0523 the prices started to rise upwards against the United States Dollar today in the US Trading session.
We can see Bullish price crossover with Moving Average 20 in the 15-minutes timeframe.
Also, the Bullish price crossover with adaptative moving average 100 is seen in the 15-minutes timeframe.
We have detected Bullish Harami cross formation in the 15-minutes timeframe.

We have seen the formation of Bullish Harami in the 15-minutes timeframe.
The Resistance of channel is broken in the 1-hourly timeframe.
Also, we can detect Moving Average bullish crossovers: MA20 & MA50 in the 1-hourly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the consolidation wave in the markets.

We can see the Ichimoku - Bullish crossover: Tenkan & Kijun in the 1-hourly timeframe. Also, we have detected RSI indicator: bullish divergence present in the daily timeframe.
EURUSD is now trading below its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Euro Bullish reversal seen above the 1.0523 mark.
• Short-term range appears to be Bullish.
• EURUSD continues to remain above the 1.0540 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 1.0575 which is a Pivot Point 1st Resistance Point.
EURUSD is now trading near to its Pivot levels of 1.0552 and is moving into a Bullish channel.
The price of EURUSD remains above its Classic support levels of 1.0531 and is moving towards its next target of 1.0582 which is a Price 1 Standard Deviation Resistance.


#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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GBPUSD Technical Analysis – 15th NOV, 2024
GBPUSD – Near Horizontal Support

GBPUSD was unable to continue its bearish momentum and after touching a low of 1.2655 the prices started to rise upwards against the United States Dollar today in the US Trading session.
We can see that the prices are Near horizontal support in the 1-hourly timeframe.
Also, we can see RSI indicator: bullish divergence present in the 2-hourly timeframe.
The prices are ranging Near support of triangle in the weekly timeframe.

Also, we see prices are Near support of channel in the weekly timeframe.
We have seen that the Pivot points: price is under support 3 in the weekly timeframe.
We have seen some bearish correction in the markets but that phase will be temporary and a rebound in the prices is expected very soon.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the consolidation wave in the markets.

GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bullish reversal seen above the 1.2655 mark.
• Short-term range appears to be Bullish.
• GBPUSD continues to remain above the 1.2610 levels.
• Average true range ATR is indicating High market volatility.

GBPUSD is now trading near to its Pivot levels of 1.2630 and is moving into a Bullish channel.
The price of GBPUSD is above its Classic support levels of 1.2607 and is now moving towards its next target of 1.2627 which is a 14 Day RSI at 30%.
We are also looking for the breach of the levels of 1.2713 which is a 14-3 Day Raw Stochastic at 20%.


#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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NZDUSD Technical Analysis – 15th NOV, 2024
NZDUSD – Near Horizontal Support

NZDUSD was unable to continue its bearish momentum and after touching a low of 0.5840 the prices started to rise upwards against the United States Dollar today in the US Trading session.
We can see that the prices are Near horizontal support in the daily timeframe.
Also, we can see that the Price is back over the pivot point in the daily timeframe.
We see RSI indicator: bullish divergence is present in the daily timeframe.

We have detected that the prices are ranging Near horizontal support in the weekly timeframe.
The prices of NZDUSD are ranging Near a new HIGH record (1 month) in the weekly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We have seen that the Previous candle closed under Bollinger bands indicating a Neutral market in the daily timeframe.

NZDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Kiwi Bullish reversal seen above the 0.5840 mark.
• Short-term range appears to be Bullish.
• NZDUSD continues to remain above the 0.5860 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 0.5876 which is a Pivot Point 1st Resistance Point.
NZDUSD is now trading near to its Pivot levels of 0.5866 and is moving into a Bullish channel.
The price of NZDUSD remains above its Classic support levels of 0.5853 and is now moving towards its next target of 0.5896 which is a Price 1 Standard Deviation Resistance.


#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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USDCAD Technical Analysis – 15th NOV, 2024
USDCAD – Near Horizontal Resistance

USDCAD was unable to continue its Bullish momentum and after touching a high of 1.4104 the prices started to decline against the United States Dollar today in the US Trading session.
The prices are ranging Near horizontal resistance in the daily timeframe.
We have seen that the RSI indicator is overbought: over 70 in the daily timeframe.
Also, we can see that the Previous candle closed over Bollinger bands in the daily timeframe.

Also, we see the CCI indicator is overbought: over 100 in the weekly timeframe indicating a Neutral market.
We have seen the formation of Bullish engulfing lines in the weekly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
USDCAD is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.
• Loonie Bearish reversal seen below the 1.4104 mark.
• Short-term range appears to be Bearish.
• USDCAD continues to remain above the 1.4080 levels.
• Average true range ATR is indicating High market volatility.

The next support is located at 1.4076 which is a 14 Day RSI at 70%.
USDCAD is now trading near to its Pivot levels of 1.4083 and is moving into a Bearish channel.
The price of USDCAD remains above its Classic support levels of 1.4065 and is now moving towards its next target of 1.4016 which is a 14-3 Day Raw Stochastic at 80%.


#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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USDJPY Technical Analysis – 15th NOV, 2024
USDJPY – Support of Channel is Broken

USDJPY was unable to continue its bullish momentum and after touching a high of 156.73 the prices started to decline against the United States Dollar today in the US Trading session.
We can see that the Support of channel is broken in the 15-minutes timeframe.
We see that the RSI indicator is oversold: under 30 in the 1-hourly timeframe indicating a Neutral market.
Also, we see Moving Average bearish crossovers: AMA20 & AMA50 present in the 2-hourly timeframe.
Also, we have detected that Bearish price crossover with Moving Average 100 is present in the 2-hourly timeframe.

Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We can see the Bearish price crossover with adaptative moving average 50 in the 4-hourly timeframe.
Also, we see that the Horizontal support is broken in the daily timeframe.
We have seen MACD indicator: bearish divergence and RSI indicator: bearish divergence present in the daily timeframe.
USDJPY is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Yen Bearish reversal seen below the 156.73 mark.
• Short-term range appears to be Bearish.
• USDJPY continues to remain above the 154.10 levels.
• Average true range ATR is indicating High market volatility.

The next support is located at 153.98 at which the Price Crosses 9 Day Moving Average.
USDJPY is now trading near to its Pivot levels of 154.36 and is moving into a Bearish channel.
The price of USDJPY remains above its Classic support levels of 153.69 and is now moving towards its next target of 153.40 which is a 61.8% Retracement from the 52 Week Low.


#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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How Can You Use a Break and Retest Strategy in Trading?

Trading strategies help traders navigate the financial markets with greater confidence. One such approach is the break and retest strategy, which focuses on key support and resistance levels. This article explores the break and retest strategy in detail, providing insights and practical examples to help traders apply it in their trading activities.

Understanding the Break and Retest Strategy

The break and retest strategy is popular among traders who aim to capitalise on clear market movements. At its core, this strategy revolves around identifying key support and resistance levels on a price chart.

Here’s how it works: When the price breaks through a support or resistance level, it signals a potential shift in market sentiment. For example, if a stock breaks above a resistance level, it suggests increasing buying interest. Traders then watch for the price to return to this newly broken level—known as a retest in trading. During the retest, the former resistance now acts as support, providing a potentially more attractive entry point for traders looking to join the trend.

TO VIEW THE FULL ARTICLE, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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Market Analysis: GBP/USD Nosedives While USD/CAD Regains Strength

GBP/USD started a fresh decline below the 1.2750 zone. USD/CAD is rising and might aim for more gains above the 1.4100 resistance.

Important Takeaways for GBP/USD and USD/CAD Analysis Today

• The British Pound started a major decline from the 1.3000 resistance zone.
• There is a key bearish trend line forming with resistance at 1.2650 on the hourly chart of GBP/USD at FXOpen.
• USD/CAD is showing positive signs above the 1.4000 support zone.
• There is a connecting bullish trend line forming with support at 1.4040 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair struggled to continue higher above the 1.3000 resistance zone. The British Pound started a downside correction and traded below the 1.2850 support zone against the US Dollar.

The pair even traded below 1.2700 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2600 level. A low was formed at 1.2597 and the pair is now consolidating losses.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Walt Disney Company (DIS) Shares Surge Over 11%

On 14 November, Walt Disney Company (DIS) released an investor report that exceeded analysts' expectations:
→ Earnings per share: Actual = $1.14; Expected = $1.10; Year-on-year growth = +39%.
→ Revenue: Actual = $22.57 billion; Expected = $22.42 billion.

The stock market responded positively, with DIS shares rising:
→ On 13 November, prior to the report's release, the stock closed at $102.56.
→ By the end of the week, DIS closed at $114.94, a gain of more than 11% post-announcement.

The company also reported an increase in its streaming subscribers, reaching 200 million. Investors view this growth as a positive signal for Walt Disney Company, similar to the optimism shown towards Netflix (NFLX), which we discussed on 15 November.

Will DIS shares continue to rise?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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AUDUSD Technical Analysis – 18th NOV, 2024
AUDUSD – Resistance of Channel is Broken

AUDUSD was unable to continue its bearish momentum and after touching a low of 0.6447 the prices have started to rise upwards against the United States Dollar today in the US trading session.
We can see that the Resistance of channel is broken in the 15-minutes timeframe.
We can see Moving Average bullish crossovers: MA20 & MA50 present in the 30-minutes timeframe.
We have detected Moving Average bullish crossovers: AMA20 & AMA50 in the 30-minutes timeframe.
Also, we see Bullish trend reversal: adaptative moving average 100 in the 1-hourly timeframe.

The RSI indicator is back over 50 in the 4-hourly timeframe. Aroon indicator bullish trend is also visible in the 4-hourly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets.
We can also see the formation of Bullish Harami in the weekly timeframe. Also, we have seen Bullish opening of the markets this week.

AUDUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Aussie Bullish reversal seen above the 0.6447 mark.
• Short-term range appears to be Bullish.
• AUDUSD continues to remain above the 0.6490 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 0.6516 which is a Price 3 Standard Deviations Resistance.
AUDUSD is now trading near to its Pivot levels of 0.6492 and is moving into a Bullish channel.
The price of AUDUSD remains above its Classic support levels of 0.6473 and is moving towards its next target of 0.6542 at which the Price Crosses 9 Day Moving Average.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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EURUSD Technical Analysis – 18th NOV, 2024
EURUSD – Resistance of Channel is Broken

EURUSD was unable to continue its bearish momentum and after touching a low of 1.0529 the prices started to rise upwards against the United States Dollar today in the US Trading session.
We can see that the Resistance of channel is broken in the 15-minutes timeframe.
Also, the Bullish trend reversal: adaptative moving average 100 is visible in the 1-hourly timeframe.
We have detected Ichimoku - Bullish crossover: Tenkan & Kijun in the 1-hourly timeframe.
We can see Parabolic SAR indicator bullish reversal in the 2-hourly timeframe.

The Aroon indicator bullish trend can be seen in the 2-hourly timeframe.
Also, we can detect SuperTrend indicator bullish reversal in the 2-hourly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the consolidation wave in the markets.
We can see Bullish trend reversal: adaptative moving average 20 in the 4-hourly timeframe. Also, the prices are ranging Near horizontal support in the weekly timeframe.

EURUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Euro Bullish reversal seen above the 1.0529 mark.
• Short-term range appears to be Bullish.
• EURUSD continues to remain above the 1.0580 levels.
• Average true range ATR is indicating High market volatility.

The next resistance is located at 1.0606 which is a Price 3 Standard Deviations Resistance.
EURUSD is now trading near to its Pivot levels of 1.0588 and is moving into a Bullish channel.
The price of EURUSD remains above its Classic support levels of 1.0569 and is moving towards its next target of 1.0625 which is a Pivot Point 2nd Level Resistance.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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GBPUSD Technical Analysis – 18th NOV, 2024
GBPUSD – Resistance of Channel is Broken

GBPUSD was unable to continue its bearish momentum and after touching a low of 1.2603 the prices started to rise upwards against the United States Dollar today in the US Trading session.
We can see that the Resistance of channel is broken in the 15-minutes timeframe.
Also, we can see Bullish trend reversal: adaptative moving average 20 in the 2-hourly timeframe.
The RSI indicator is back over 50 in the 2-hourly timeframe.

Also, we see Aroon indicator bullish trend present in the 2-hourly timeframe.
We have seen Bullish price crossover with adaptative moving average 20 in the 4-hourly timeframe.
Also, the Price is back over the pivot point in the daily timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the consolidation wave in the markets.

GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bullish reversal seen above the 1.2603 mark.
• Short-term range appears to be Bullish.
• GBPUSD continues to remain above the 1.2660 levels.
• Average true range ATR is indicating Less market volatility.

GBPUSD is now trading near to its Pivot levels of 1.2663 and is moving into a Bullish channel.
The price of GBPUSD is above its Classic support levels of 1.2642 and is now moving towards its next target of 1.2687 which is a 14-3 Day Raw Stochastic at 20%.
We are also looking for the breach of the levels of 1.2704 which is a Price 3 Standard Deviations Resistance.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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NZDUSD Technical Analysis – 18th NOV, 2024
NZDUSD – Resistance of Channel is Broken

NZDUSD was unable to continue its bearish momentum and after touching a low of 0.5835 the prices started to rise upwards against the United States Dollar today in the US Trading session.
We can see that the Resistance of channel is broken in the 15-minutes timeframe.
Also, we can see that the CCI indicator is overbought: over 100 in the 15-minutes timeframe indicating a Neutral market.
We see Bullish trend reversal: adaptative moving average 100 in the 1-hourly timeframe.

We have seen Bullish trend reversal: adaptative moving average 50 in the 2-hourly timeframe. Also, we can see the formation of Doji in the 2-hourly timeframe which indicates a Neutral market.
The prices of NZDUSD are ranging Near a new HIGH record (1 month) in the weekly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We have seen that the Aroon indicator bullish trend present in the weekly timeframe.

NZDUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Kiwi Bullish reversal seen above the 0.5835 mark.
• Short-term range appears to be Bullish.
• NZDUSD continues to remain above the 0.5880 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 0.5900 which is a Pivot Point 2nd Level Resistance.
NZDUSD is now trading near to its Pivot levels of 0.5884 and is moving into a Bullish channel.
The price of NZDUSD remains above its Classic support levels of 0.5868 and is now moving towards its next target of 0.5921 which is a Pivot Point 3rd Level Resistance.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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USDCAD Technical Analysis – 18th NOV, 2024
USDCAD – Support of Channel is Broken

USDCAD was unable to continue its Bullish momentum and after touching a high of 1.4100 the prices started to decline against the United States Dollar today in the US Trading session.
The Support of Channel is Broken in the 15-minutes timeframe.
We have seen Bearish trend reversal: Moving Average 50 present in the 1-hourly timeframe.
Also, we can see Bearish trend reversal: adaptative moving average 50 in the 2-hourly timeframe.

Also, we see the Bearish price crossover with adaptative moving average 100 in the 2-hourly timeframe.
The RSI indicator is back under 50 in the 4-hourly timeframe. We have seen SuperTrend indicator bearish reversal in the 4-hourly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We see RSI indicator: bearish divergence and MACD indicator: bearish divergence present in the daily timeframe.

USDCAD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Loonie Bearish reversal seen below the 1.4100 mark.
• Short-term range appears to be Bearish.
• USDCAD continues to remain above the 1.4000 levels.
• Average true range ATR is indicating High market volatility.

The next support is located at 1.3992 which is a Price 3 Standard Deviations Support.
USDCAD is now trading near to its Pivot levels of 1.4019 and is moving into a Bearish channel.
The price of USDCAD remains above its Classic support levels of 1.3981 and is now moving towards its next target of 1.3974 which is a Pivot Point 3rd Support Point.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

[Resolve]

USDJPY Technical Analysis – 18th NOV, 2024
USDJPY – Support of Channel is Broken


USDJPY was unable to continue its bullish momentum and after touching a high of 155.33 the prices started to decline against the United States Dollar today in the US Trading session.
We can see that the Support of channel is broken in the 15-minutes timeframe.
We see that the Bearish price crossover with Moving Average 100 is visible in the 15-minutes timeframe.
Also, we can see that the MACD indicator is back under zero in the 30-minutes timeframe.

Also, we have detected the RSI indicator is back under 50 in the 4-hourly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We can see that the MACD crosses DOWN its Moving Average in the daily timeframe.
Also, we see that the prices are ranging Near a new LOW record (1 month) in the weekly timeframe.
We have seen Bearish opening of the markets this week.

USDJPY is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Yen Bearish reversal seen below the 155.33 mark.
• Short-term range appears to be Bearish.
• USDJPY continues to remain above the 154.50 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 154.32 at which the Price Crosses 9 Day Moving Average.
USDJPY is now trading near to its Pivot levels of 154.73 and is moving into a Bearish channel.
The price of USDJPY remains above its Classic support levels of 154.38 and is now moving towards its next target of 154.16 which is a 3-10-16 Day MACD Moving Average Stalls.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog