Daily Analysis | EUR/JPY | 12 of October

Posted 12 October, 2017

The EUR/USD is in a strong bullish trend and as we can see on the chart the price has pierced through 1.1800 driven by risk sentiment and the Spain situation. Today FOMC meeting minutes are the most important event so we might see two-way price action. At this point the price is still going up straight from the trend line and 23.6 fib.Continuation above 1.1855 aims for 1.1880 and 1.1895. However, if the price gets in a retracement phase watch for 1.1760-75 zone (D L4, EMA89, trend line, ATR low, W H3). Targets remain the same if the pair breaks 1.1810 on the bounce up. Only a move below 1.1750 might make a bearish breakout towards 1.1720 and 1.1695.

H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
PPR - Progressive Polynomial Channel
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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                                                                                                                 By Nenad Kerkez | Admiral Markets

 

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Previous forecast

18 October, 2017 10:30

← Daily Analysis | Gold | 18 of October

The gold enjoyed a steady uptrend during Monday but a small doji (stop candle) that appeared at W L3 resistance suggested a possible momentum change. Straight after the doji has been formed the price continued to fall and it finally broke the double bottom and D L3 pivot.

Daily Analysis | Gold | 18 of October

Next forecast

11 October, 2017 12:30

Daily Analysis | EUR/USD | 11 of October →

The EUR/USD is in a strong bullish trend and as we can see on the chart the price has pierced through 1.1800 driven by risk sentiment and the Spain situation. Today FOMC meeting minutes are the most important event so we might see two-way price action. At this point the price is still going up straight from the trend line and 23.6 fib.

Daily Analysis | EUR/USD | 11 of October
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