Daily analysis of major pairs for December 2, 2016
December 2, 2016 12:34 am
EUR/USD: There has not been any strong movement on the EUR/USD so far this week, and there is a faint rally attempt, which might end up being another opportunity to sell short. Only a pullback on USD/CHF would cause this market to rally. Some fundamental figures are expected today and they would have impact on the market.
USD/CHF: This is a bull market, and despite the fact that price has not done much this week, it is trying to get corrected lower, in the context of an uptrend. The Williams’ % Range period 20 is already going into the oversold territory; while the EMA 11 remains above the EMA 56. However, the Williams’ % Range period 20 might go out of the oversold area, as price resumes its bullish journey.
GBP/USD: Just as it was forecasted yesterday, the GBP/USD broke upwards significantly, moving upwards by 180 pips, and reaching a high of 1.2695, before retracing. There is already a Bullish Confirmation Pattern in the 4-hour chart; in spite of the current bearish correction, price might continue moving upwards.
USD/JPY: The USD/JPY has consistently gone up, since the low of November 9, price has moved up 1350 pips, now above the demand level at 113.50. There is a huge Bullish Confirmation Pattern in in the 4-hour chart and the supply levels at 114.50, 115.00 and 115.50 would be the next targets. As it was correctly predicted, the outlook on JPY pairs remains bullish.
EUR/JPY: Since Tuesday, this cross has gone upwards by 300 pips, and it is now above the demand zone at 121.50, going towards the supply zone at 122.00. After this, bulls would also target more supply zones at 122.50 and 123.00.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
EUR/USD: There
has not been any strong movement on the EUR/USD so far this week, and there is
a faint rally attempt, which might end up being another opportunity to sell
short. Only a pullback on USD/CHF would cause this market to rally. Some
fundamental figures are expected today and they would have impact on the
market.
USD/CHF: This is a bull market,
and despite the fact that price has not done much this week, it is trying to
get corrected lower, in the context of an uptrend. The Williams’ % Range period
20 is already going into the oversold territory; while the EMA 11 remains above
the EMA 56. However, the Williams’ % Range period 20 might go out of the
oversold area, as price resumes its bullish journey.
GBP/USD: Just as it was
forecasted yesterday, the GBP/USD broke upwards significantly, moving upwards
by 180 pips, and reaching a high of 1.2695, before retracing. There is already
a Bullish Confirmation Pattern in the 4-hour chart; in spite of the current
bearish correction, price might continue moving upwards.
USD/JPY: The USD/JPY has
consistently gone up, since the low of November 9, price has moved up 1350
pips, now above the demand level at 113.50. There is a huge Bullish Confirmation
Pattern in in the 4-hour chart and the supply levels at 114.50, 115.00 and
115.50 would be the next targets. As it was correctly predicted, the outlook on
JPY pairs remains bullish.
EUR/JPY: Since
Tuesday, this cross has gone upwards by 300 pips, and it is now above the
demand zone at 121.50, going towards the supply zone at 122.00. After this,
bulls would also target more supply zones at 122.50 and 123.00.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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