Daily analysis of major pairs for October 18, 2017
October 18, 2017 9:23 amVideo
Latest News
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EUR/USD: There is a “sell”
signal on the EUR/USD pair. The EMA 11 has crossed the EMA 56 to the downside,
and the Williams’ % Range period 20 is in the oversold territory. The support
line at 1.1750 has been tested and it would be tested again, as price goes
towards another support line at 1.1700.
USD/CHF: There is a “buy” signal on the USD/CHF
pair. The EMA 11 has crossed the EMA 56 to the upside, and the Williams’ % Range
period 20 is in the overbought territory. The resistance level at 0.9800 has
been tested and it would be tested again, as price goes towards another
resistance level at 0.9850.
GBP/USD: There is a short-term bearish signal on
the GBP/USD. Price has moved downwards by 110 pips this week, and it could
continue going further downwards, reaching the accumulation territories 1.3150
and 1.3100. There is a Bearish Confirmation Pattern in the 4-hour chart.
USD/JPY: This currency trading instrument has bounced
upwards in the context of a short-term downtrend. Further upwards movement
above the supply level at 113.00 would result in a bullish bias. That is the expectation
for today and tomorrow, for the JPY is now showing some signs of weakness.
EUR/JPY: This cross has done nothing significant
this week. It is possible that price would continue to go downwards towards the
demand zones at 132.00 (which was previously tested), 131.50 and 131.00. A
northwards movement of 150 pips from here would render this expectation
invalid.
The material has been provided by InstaForex Company – www.instaforex.com
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