Trading plan for 11/12/2017
December 11, 2017 2:21 pmVideo
Latest News
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
The New Zealand Dollar is the star at the start of the new week in reaction to the election of the president of the RBNZ. The rest of the market is calmly awaiting the central bank marathon. The stock market in Asia is green. Japanese Nikkei225 increased by 0.6%, Hang Seng growing by 0.8%. It’s calm on the commodity market. Crude Oil falls by 0.3% up to 57.2 USD, Gold is growing 0.1%. up to 1250 USD.
On Monday 11th of December, the event calendar is light in important news releases. Only data to be released are Retail Sales in Italy and JOLTs Job Openings from the US.
EUR/USD analysis for 11/12/2017:
In general, this week we have a central bank marathon with the main focus on the Fed, where the interest rate increase is almost certain. Banks from Switzerland, Norway, the United Kingdom and the Eurozone may also be interesting as all of them will make the interest rate decision later this week. Moreover, a series of inflation readings will provide information on chances for changes in monetary policy. The British Pound will be sensitive to information about Brexit agreements before the EU summit.
Let’s now take a look at the EUR/USD technical picture at the H4 time frame in this quiet Monday morning. After retracing 50% of the previous swing up the market is ready for a bounce higher towards the first technical resistance at the level of 1.1807. The oversold market conditions support the temporary bullish outlook. The key level to the upside remains at 1.1961. The market might keep trading sideways as it awaits the central bank’s interest rates decision (Fed on Wednesday, ECB on Thursday).
Market Snapshot: USD/JPY breaks above 61% Fibo
The price of USD/JPY has broken above the 61% Fibo retracement at the level of 113.24 and managed to violate the technical resistance at the level of 113.44. New local high at the level of 113.68 is the key level for bears, as any violation of this high before the local low at the level of 113.09 would directly expose the level of 113.90 for a test.
Market Snapshot: DAX30 Head and Shoulders pattern still on table
The price of German DAX is still hovering around the right shoulder zone as it opened with a gap up towards the level of 13,254. Only a violation of the level of 13, 254 and then 13,336 would invalidate the current trend reversal pattern and pushed the price higher towards the recent swing high.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: