Tuesday, November 20, 2018

Market Analysis for November 21st ... Safe opportunities on five currencies pairs


During this week, the markets moved in a bit of turmoil affected by the decline in oil prices and fears of political conflict in Britain, but in the end gave us the opportunities for safe trading as follows

AUD JPY Analysis November 21
The pair rebounded from its low near key support at 81.25, a sign of breaking the downtrend that extended throughout the week
Technically and on the MACD indicator we have positive signals on the pair's ability to breach the first resistance level of 82.34
A breach of this level will push us towards the level of resistance that the pair used to fall before breaching at 82.77 and if the pair succeeded in breaching this time the next target will be at 83 directly
Recommendation
Buy the pair from the current levels 81.56
Stop loss    78.72
Take profit 82.753

AUD NZD Analysis November 21
The 1.060 resistance managed to stop the bearish wave which has continued over the past two weeks. The pair was affected by the data from New Zealand and China during that period, but the market seems to have exceeded that data now
Technically and on the MACD Alerts - we have a strong buying signal while we have broken support that we need to trade above at 1.069, stability of the top of the broken support will push us to initial resistance at 1.075
Trading Recommendation
Buy the pair from the current levels 1.0618
Stop loss    1.04154
Take Profit 1.08726

CAD JPY Analysis for 21 November 2018
The Canadian currency was heavily affected by the decline in oil prices during the week. The negative impact of the decline in oil prices pushed the pair to break the strongest resistance and drop to 84.50 for the first time in a long time, that decline makes us waiting to buy the pair with the first positive signal, On expectations of a near recovery in oil prices
Technically and MACD Alerts - we have an early signal to buy, while we have broken support at 85.19 and strong resistance at 86.29 so if we buy we will only target initial resistance
Recommendation
Buy the pair from current levels 84.82
Stop loss 83.116
Take Profit 86.125

GBP / JPY ... Buyback with First Goals 149
The pair is affected by many of the negative news from Britain, more problems facing the British Prime Minister but the old lady seems able to overcome the crisis, European support seems to be very close, even the negative data of the British economy is not catastrophic. Overall: We are not afraid to buy GBPUSD right Now

Technically and on the MACD Alerts - we have a continuous buying signal since yesterday, and we have resistance to the resistance so far at 144 has managed to resist every decline so far while the strongest resistance at 142
Trading Recommendation
Buy the pair from current levels 144.40
Stop Loss    144.40
Take Profit  149.20

GBP / USD ... repurchase with 1.31 first targets
The pair is affected by many of the negative news from Britain, more problems facing the British Prime Minister but the old lady seems able to overcome the crisis, European support seems to be very close, even the negative data of the British economy is not catastrophic. Overall: We are not afraid to buy GBPUSD right Now

Technically, we have a strong buying signal from yesterday, we also have strong support at 1.272 which we can rely on when buying the pair while the first strong resistance at 1.3001 and trading above that resistance for four hours will make us target 1.317 areas easily
Trading Recommendation
Buy the pair now from 1.2800 levels
Stop loss   1.2600
Take Profit 1.3170

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