Daily Market Analytics - Forex

[FXOpen Trader]

NZDUSD Technical Analysis – 17th DEC, 2024
NZDUSD – Support of Channel is Broken

NZDUSD was unable to continue its bullish momentum and after touching a high of 0.5792 the prices started to decline against the United States Dollar today in the London Trading session.
The Support of channel is broken in the 15-minutes timeframe.
Also, we see that the MACD crosses DOWN its Moving Average in the 15-minutes timeframe.
The Pivot points: price is under support 1 in the 30-minutes timeframe. Als owe can see the formation of Doji in the 30-minutes timeframe.
We have detected that the Support of channel is broken in the weekly timeframe.

Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We have seen that the prices continue to range Near a new LOW record (5 years) in the weekly timeframe.
NZDUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.

• Kiwi Bearish reversal seen below the 0.5792 mark.
• Short-term range appears to be Bearish.
• NZDUSD continues to remain above the 0.5750 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 0.5748 which is a Pivot Point 2nd Support Point.
NZDUSD is now trading near to its Pivot levels of 0.5760 and is moving into a Bearish channel.
The price of NZDUSD remains above its Classic support levels of 0.5748 and is now moving towards its next target of 0.5737 which is a 3-10 Day Moving Average Crossover Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

 

[FXOpen Trader]

USDCAD Technical Analysis – 17th DEC, 2024
USDCAD – Resistance of Channel is Broken

USDCAD was unable to continue its Bearish momentum and after touching a low of 1.4225 the prices started to correct upwards against the United States Dollar today in the London Trading session.
We have seen that the Resistance of channel is broken in the 15-minutes timeframe.
The RSI indicator is overbought: over 70 in the 2-hourly timeframe. Also, the Previous candle closed over Bollinger bands indicating a Neutral market.
We can see CCI indicator is overbought: over 100 in the 4-hourly timeframe indicating a Neutral market.

The prices continue to range Near resistance of channel in the daily timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
We can see the formation of Three white soldiers in the weekly timeframe.
We see that USDCAD is ranging Near a new HIGH record (5 years) in the weekly timeframe.
USDCAD is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.

• Loonie Bullish reversal seen above the 1.4225 mark.
• Short-term range appears to be Bullish.
• USDCAD continues to remain above the 1.4270 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 1.4287 which is a Price 1 Standard Deviation Resistance.
USDCAD is now trading near to its Pivot levels of 1.4280 and is moving into a Bullish channel.
The price of USDCAD remains above its Classic support levels of 1.4269 and is now moving towards its next target of 1.4305 which is a Price 2 Standard Deviations Resistance.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

 

[FXOpen Trader]

USDJPY Technical Analysis – 17th DEC, 2024
USDJPY – Near Support of Channel

USDJPY was unable to continue its bearish momentum and after touching a low of 151.46 the prices started to correct upwards against the United States Dollar today in the London Trading session.
The prices are ranging Near support of channel in the 15-minutes timeframe.
We have seen the formation of Doji in the 30-minutes timeframe. Also, the Momentum indicator is back over zero in the 2-hourly timeframe.
The Bullish trend reversal: Moving Average 100 is visible in the daily timeframe.

We have detected Bullish trend reversal: adaptative moving average 20 in the weekly timeframe.
Also, we see the presence of Three white soldiers in the weekly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets.
The prices of USDJPY are ranging Near a new HIGH record (5 years) in the weekly timeframe.
USDJPY is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages.

• Yen Bullish reversal seen above the 151.46 mark.
• Short-term range appears to be Bullish.
• USDJPY continues to remain above the 153.70 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 153.98 which is a Pivot Point.
USDJPY is now trading near to its Pivot levels of 153.98 and is moving into a Bullish channel.
The price of USDJPY remains above its Classic support levels of 153.52 and is now moving towards its next target of 154.54 at which the Price Crosses 18 Day Moving Average Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.