Forex technical analysis November 6th 2018

USDCAD technical analysis november 6th 2018


    According to the USDCAD chart, we see that the downside of the market, which began around the resistance of Rand 1.3200, has stopped after colliding with key support at 1.200. In the end, buyers came around the support, which resulted in new uptrend movements up to a resistance of 1.3170. Recently, market gains have been in the form of a short-term bullish channel.

    Failure signal
    In today’s trades, the US Dollar rate in Canada has been hit by the Rand rate of 3100 in the form of support. Continuing purchasing pressure and breaking resistance of 1.3120, the pair could yield resistance to the market at 1.3150, 1.3170 and 1.3200.

    Recursive signal
    In contrast to maintaining the 1.3120 position in the form of resistance and passing below the Rand rate of 1.3100, the USDCAD currency pair could be returned to the minor support of 1.3065 and the bottom of the channel.

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    USDCAD technical analysis november 6th 2018


    On the daily chart, the bullish bull of the USDJPY, which started at around 104.63 on the 23rd of March, was stopped after midnight midfielder midfielder Canadian midfielder after six months. The equalization rate in response to these levels fell to support at 11.49. It was found that the failure of the channel floor and the line was fake, and USDJPY returned to the high of Rs. 113.00. This seven-month trend line is plotted at a price of 104.64.

    Failure signal
    In today’s trading, the USD / JPY strengthened against the Japanese yen and climbed to an average of 113.50. If buyers go above 113.50, then USDJPY will move to RED 114.00 and core resistance at 114.50.

    Read more: How to calculate pip value in forex?

    Recursive signal
    In contrast, maintaining a position of 113.50 in the form of resistance can limit USDJPY bullish movements and rebounds to a rate of Rs. 113.00, partial support of 112.65, and line level line.

    USDJPY technical analysis november 6th 2018


    According to the daily chart, the EURUSD has fallen from Rs 1,2400 to $ 1,300. This downside rally took four months. At the same time, buyers reached around $ 1,1300, resulting in a bullish return to a resistance of $ 1,1800. On October 31, EURUSD was involved in a downtrend from 1.1800 for the second consecutive $ 1,300 support that could not break it again and strengthened to 1,1400 Rand. Around the $ 1,400 Rand rate, we are seeing a pair of downside and downward pins showing the tension between buyers and sellers to determine the next direction in the market.

    Recursive signal
    If on today’s trading, the EUR / USD rate will be supported by the 1,1400 rate and reacted to the bullish pivot (formed yesterday), if the resistance of 1.1432 and the downtrend pace (rate 1. 1456) The pair can move up to resistance of 1500, 1, 1550, and 1, 1600.

    Read more: Alpari review and it’s trading conditions

    Failure signal
    Against the backdrop of maintaining a resistance level of $ 1,432b and passing below the Rand rate of $ 1,400 and the bullish bullish backlash (1353-1353), the EURUSD will again be backing Rsd $ 1,300. To start a new downtrend, the $ 1,300 is definitely broken.

    EURUSD technical analysis november 6th 2018

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