empty
 
 

Forex Analysis & Reviews: Technical analysis recommendations on EUR/USD and GBP/USD for September 29, 2022
time 29.09.2022 11:05 AM
time Relevance up to, 30.09.2022 09:56 AM

EUR/USD

This image is no longer relevant

Higher timeframes

Despite updating the low, yesterday passed with the activity of bulls, who managed to start recovering their positions. If today the mood persists, and the planned potential gets the necessary development, then we can expect a test of resistance. The nearest resistances on this area today are located at the boundaries of the daily death cross (0.9794 - 0.9867 - 0.9945), and the end and strengthening of the indicated zone are 0.9952 (weekly short-term trend) and 1.0000 (psychological level). Bearish interests at the moment are to update yesterday's low (0.9536) and continue the downward trend, whose next benchmark may be the psychological level of 0.9000.

This image is no longer relevant

H4 – H1

In the lower timeframes, work is now underway with the key level responsible for the current balance of power. Today, the weekly long-term trend joins forces with the central pivot point, located in the area of 0.9685–74. If bulls gain a foothold higher and deploy the moving average, the main advantage will shift to their side, and the road to new upward benchmarks will be opened. The upward benchmarks within the day are now located at 0.9811 - 0.9889 - 1.0026 (classic pivot points). If the work is carried out under key levels, there is a chance for a new strengthening of bearish sentiment. The downward benchmarks within the day today are at the support of the classic pivot points 0.9596 - 0.9459 - 0.9381.

***

GBP/USD

This image is no longer relevant

Higher timeframes

Yesterday, bulls tested the first correction target; on higher timeframes it is usually the daily short-term trend (1.0907). Overcoming the level will allow the continuation of the ascent. In this case, the next reference points for the upward move will be the resistance of the daily Ichimoku cross (1.1128 - 1.1310), reinforced by the accumulation of weekly levels 1.1324 - 1.1429. For bears, the main task is still to update Monday's low (1.0355) and restore the downward trend.

This image is no longer relevant

H4 – H1

As of writing, work is underway on the lower timeframes with key levels 1.0779 (central pivot point) and 1.0866 (weekly long-term trend). Overcoming the resistance of the weekly long-term trend (1.0866), reversal of the moving average, and consolidation above the daily short-term trend (1.0907) will strengthen bullish positions and the emergence of new prospects. Within the day, they will be the resistance of the classic pivot points 1.1021 – 1.1156 – 1.1398. A return to the decline will restore the relevance of the support of the classic pivot points (1.0644 – 1.0402 – 1.0267). A breakdown of the supports will provide an exit from the correction zone and the restoration of the downward trend.

***

In the technical analysis of the situation, the following are used:

higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)

Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2022
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Trading Signal for GBP/USD on December 06-07, 2022: buy above 1.2220 (+1/8 Murray - 21 SMA)

To the upside, we expect the pound to settle above 1.2220, then it could give us a signal to buy with targets at 1.23. In case of a break through

Dimitrios Zappas 05:26 2022-12-06 UTC+2

Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair Tuesday, 06 December 06 2022.

With the emergence of deviation in the price movements of the EUR/GBP cross currency pair with the CCI indicator and the formation of the Bullish 123 pattern followed

Arief Makmur 05:22 2022-12-06 UTC+2

Technical Analysis of Daily Price Movement of Major Currency Pairs EUR/USD Tuesday, December 06 2022.

If we look at the daily chart for the main EUR/USD currency pair, it can be seen that yesterday's PL Dot was right at the close level of this area

Arief Makmur 05:22 2022-12-06 UTC+2

Forecast for EUR/USD on December 6, 2022

Yesterday's strong data on factory orders and business activity in the US was able to stop the development of risk appetite. October Factory Orders were up 1% in October, November

Laurie Bailey 03:50 2022-12-06 UTC+2

Forecast for GBP/USD on December 6, 2022

Under the general pressure of the market, the British pound declined by 100 points on Monday. It reached support at 1.2200. Now the price tries to break away from

Laurie Bailey 03:50 2022-12-06 UTC+2

Forecast for AUD/USD on December 6, 2022

By the end of Monday the dollar index gained 0.78%, oil prices fell by 3.66% and the Australian dollar fell by 1.37%. The price overcame the support at 0.6730

Laurie Bailey 03:50 2022-12-06 UTC+2

USDJPY wave analysis update.

In our previous post on USDJPY we mentioned that price was most probably starting its wave 4 counter trend move and we should expect price to move higher towards

Alexandros Yfantis 21:52 2022-12-05 UTC+2

Technical analysis of EUR/USD for December 05, 2022

All elements being clearly bullish market, it would be possible for traders to trade only long positions on the EUR/USD pair as long as the price remains well above

Mourad El Keddani 20:16 2022-12-05 UTC+2

December 5, 2022 : EUR/USD daily technical review and trading opportunities.

The market remained under Selling pressure until the recent bullish break above 1.0000 was achieved. Now the market remains under buying pressure until significant downside rejection occurs around

Mohamed Samy 18:27 2022-12-05 UTC+2

December 5, 2022 : EUR/USD Intraday technical analysis and trading plan.

Price action around this key-level (1.0500) should be watched cautiously for further continuation or bearish reversal. On the other hand, any quick bearish pullback towards the price levels of 1.0000

Mohamed Samy 18:18 2022-12-05 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.