EUR/USD and GBP/USD: Technical analysis for October 27
October 27, 2023 5:26 amVideo
Latest News
- ECB threw a lifeline to the euro April 11, 2024
- Technical Analysis – ETHUSD finds support at 50-day SMA April 11, 2024
- Trading Signals for GOLD (XAU/USD) for April 11-15, 2024: buy above $2,345 (6/8 Murray – symmetrical triangle) April 11, 2024
- EUR/USD: trading scenarios on April 11, 2024 April 11, 2024
- Analysis and trading tips for USD/JPY on April 11 (US session) April 11, 2024
- Analysis and trading tips for GBP/USD on April 11 (US session) April 11, 2024
- Analysis and trading tips for EUR/USD on April 11 (US session) April 11, 2024
- Technical Analysis – USDCAD surges to new almost 5-month high April 11, 2024
- Technical Analysis – EURGBP’s double bottom still waits for confirmation April 11, 2024
- Technical Analysis – US 30 index slides below 50-day SMA April 11, 2024
- Video market update for April 11, 2024 April 11, 2024
- EUR/USD. April 11th. Fed minutes: inflation concerns persist April 11, 2024
- GBP/USD. April 11th. The US inflation report shocked the bulls April 11, 2024
- Technical Analysis – USDCHF unlocks 6-month high April 11, 2024
- Overview of the GBP/USD pair on April 11, 2024 April 11, 2024
- Overview of the EUR/USD pair. April 11th. The market couldn’t hold up after the inflation report April 11, 2024
- Analysis and trading tips for USD/JPY on April 11 April 11, 2024
- What’s behind the US economy’s resilience? – Special Report April 11, 2024
- Technical Analysis – AUDUSD plummets in the US CPI aftermath April 11, 2024
- Technical Analysis – WTI oil pauses rally but remains supported April 11, 2024
EUR/USD
Higher Timeframes
Yesterday, the bears couldn’t hold their ground. As a result, by the end of the working week, the market arrived with a looming lower shadow, the size of which could influence the overall sentiment and market possibilities. It is worth noting that the daily cross has changed. If the bulls can now take control of the range 1.0601 – 1.0610 (daily short-term trend + weekly cloud boundary), they can use it as a basis for a new attempt to rise. Failures and market uncertainty at this moment may lead to the formation of consolidation.
H4 – H1
On the lower timeframes, the decline has stopped. At this moment, the bulls have already managed to reclaim the central pivot point of the day (1.0552). Their next target is the weekly long-term trend (1.0593). Consolidation above and a reversal of the moving average will allow for a change in the current balance of power towards further bullish sentiment. Additional intraday targets can be marked at the resistances (1.0580 – 1.0599 – 1.0627) and supports (1.0533 – 1.0505 – 1.0486) of the classic pivot points.
***
GBP/USD
Higher Timeframes
Over the past day, there have been no significant changes. The monthly medium-term trend (1.2135) continues to hold the market in its attraction zone, and the tasks facing market participants remain relevant. In the current situation, bulls need to eliminate the daily Ichimoku cross (1.2186 – 1.2221) and update the highs of the current correction (1.2287 – 1.2336). For bears, it is important to exit the zone of weekly and daily correction (1.2036) and enter the weekly cloud (1.2027).
H4 – H1
The decline has stopped. The market is again aiming for the weekly long-term trend (1.2156). Possessing the trend provides some advantage. Further strengthening of bullish sentiment within the day is possible upon overcoming the resistances (1.2180 – 1.2221) of the classic pivot points. The strengthening of bearish sentiment will occur by breaking through the supports (1.2110 – 1.2081 – 1.2040 – 1.2011) of the classic pivot points.
***
The technical analysis of the situation uses:
Higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
Lower timeframes – H1 – Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: