EUR / USD

Yesterday, the pair almost reached the influence zone and the key resistance levels located at 1.2011-21 (daily target for the breakdown of the cloud + the high extremum of the upward trend + the upper limit of the monthly cloud), but the bulls failed to test this area, and even more so, consolidate the result. The euro returned to the level of 1.1929. As a result, the previously outlined prospects and opportunities retain their relevance.

As for the bulls, their main task this month is to exit the monthly Ichimoku cloud (1.2019) and consolidate in the bullish zone relative to it. In turn, it will be important for the bears to hold positions in the bearish monthly cloud and prevent the recovery of the upward trend of the upper time frames (1.2011). A return and strengthening of bearish moods can take place if support is taken. The most significant and nearest support levels now can be noted at 1.1929 - 1.1902 - 1.1850 - 1.1802.

The pair has been in the correction zone for a long time in the smaller time frames. Currently, the bulls are trying to restore their advantages and potential, which is facilitated by the support of technical indicators and consolidation above the central pivot level of the day (1.1951), but the main pivot point to leave the correction in this situation is the high extreme (1.2003). This high is strengthened by the resistances of the bigger time frames, so it is important for the bulls to conquer the entire resistance zone of 1.2003-1.2021. The key supports are located at 1.1951 (central pivot level) and 1.1925 (weekly long-term trend). A consolidation below will change the balance of power in the smaller time frames. Other intraday supports are now at 1.1899 - 1.1871 - 1.1819.

GBP / USD

It was not possible to close November in the monthly cloud. Nevertheless, the struggle for this line (1.3350) continues. Thus, it remains important for the bulls to break through the level of 1.3350 (lower limit of the monthly cloud) and 1.3481 (high extreme). For the bears, the greatest value is to decline below the support level of 1.3296 (daily Tenkan) - 1.32 (historical level) - 1.3121 (daily medium-term trend + weekly short-term trend) and consolidate below.

The bulls are trying to leave the zone of the current daily consolidation by updating the high. Now, their main task is to hold positions. The next intraday upside targets are now located at 1.3416 (R2) and 1.3447 (R3). On the other hand, the key levels of the smaller TFs are joining forces today around 1.3336-51 (central pivot level + weekly long-term trend). A consolidation below can affect the balance of power, but for greater reliability, the bulls will need to leave the attraction zone of the daily consolidation, breaking the lows of 1.3288 and 1.3263.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classical), Moving Average (120)