AUDUSD

From the very beginning of the week the market was moving north in growth channel . As a result of these increases on Friday, we reached a very important level of 0.7460, which since the defeat on 17 November has not yet been re-tested from the bottom (as resistance).

Overcoming this resistance would open the way to further growth and the potential change in market sentiment although given weak momentum and slope angle of the entire growth channel more likely scenario seems to be bearish expecting downward breakout from the bottom of channel and continuation of declines.

AUDUSD H1
AUDUSD H1

Continuation of the decline is supported by the current situation on the daily chart, showing that the current re-tested resistance is the lower limit of earlier box and in accordance with the principle of momentum of two boxes in the near future we expect a decline even in the vicinity of the level of 0.7175.

AUDUSD Daily
AUDUSD Daily

EURUSD

Looking at the daily chart we observe a strong weakness of supply and slowing declines this week. Since both Monday’s and Friday’s daily candle are bullish on a weekly chart formed a spin top candle which in addition is in an area of very important support 1.0550.

From a technical point of view, it seems very likely there could be rejection of the current zone and increases in the level around 1.0865, which since the defeat on November 11 this year., has not been tested yet from the bottom (as resistance).

EURUSD Daily
EURUSD Daily

Looking at the H1 chart we can see that for the pro-growth scenario could be realized would be necessary to overcome the resistance of 1.0650 while before we would have to reject the local support coinciding with momentum 50% Fibonacci correction of the last growth impulse.

EURUSD H1
EURUSD H1

GBPUSD

The market since the beginning of the week moves sideways, where both the upper and lower limits are the same size zones. Inside this box set, from Wednesday we observed movement in growth channel and in the near future we can expect a re-test of the level at1.2516 area. For this to happen, however, we would have first to overcome Thursday’s highs and local resistance 1.2480.

GBPUSD H1
GBPUSD H1

NZDUSD

Market reached this week area of an important support 0.6979, whose rejection would cause an upward correction even in the vicinity of the level of 0.72375 coinciding with the measuring 61.8% Fibonacci correction of the November decline.

NZDUSD Daily
NZDUSD Daily

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Looking at the H1 chart we notice that for the bullish scenario to be realized would be necessary to overcome the earlier downward trend line, around which we currently find ourselves.

NAZUSD H1
NAZUSD H1

USDJPY

It was already another week in a row when we saw strong gains in USDJPY. As a result lasting from 4 November increases US dollar strengthened against the Japanese yen by 9.64% and it is the biggest volatility on this instrument since February 2009. On Wednesday, we overcame the resistance zone around 111.25 level and in the near future we expect to test 114.60 level area where we can expect the emergence of a strong supply.

USDJPY Daily
USDJPY Daily

Looking at the H1 chart we notice that in spite of such dynamics, the trend is housed within a growth channel and to talk about a potential change of market sentiment would be necessary a bearish breakdown.

USDJPY H1
USDJPY H1
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