Daily analysis of major pairs for December 11, 201… 11.12.2017

[ad_1]

EUR/USD: Throughout last week, the EUR/USD pair went downwards by 120 pips, thus leading to a Bearish Confirmation Pattern in the market. While the support levels at 1.1750 and 1.1700 could be tested, it is also expected that a rally will occur sometime this week, owing to a bearish run on the USD/CHF pair.

Exchange Rates 11.12.2017 analysis

USD/CHF: Throughout last week, the USD/CHF pair went upwards by 160 pips, thus leading to a Bullish Confirmation Pattern in the market. While the resistance levels at 0.9950 and 1.0000 could be tested, it is expected that the pair would end up plummeting this week, because CHF would showcase an extraordinary level of stamina. Other currencies would also drop versus CHF.

Exchange Rates 11.12.2017 analysis

GBP/USD: The bullish bias on the GBP/USD pair is not currently strong, because there were some subtle bearish attacks on the market last week. For the bullish bias to become strong, price would need to overcome the distribution territory at 1.3550. A movement below the accumulation territory at 1.3250 would result in a bearish outlook.

Exchange Rates 11.12.2017 analysis

USD/JPY: This currency trading instrument went downwards on Monday and Tuesday, and then went upwards on Thursday and Friday. There is a bullish bias on the market, and the supply level at 113.50 is expected to be reached – even if there is going to be any major pullback at last.

Exchange Rates 11.12.2017 analysis

EUR/JPY: This is a choppy, directionless market (both in the longer-term and the shorter-term), and it is prudent to stay away from the market until there is a break above the supply zone at 134.50; or until there is a break below the demand zone at 131.50. This would require a big momentum, and would happen in less than 14 days to this time.

Exchange Rates 11.12.2017 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Azeez Mustapha,
Analytical expert
InstaForex Group © 2007-2017

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

[ad_2]

Source link

قالب وردپرس



We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.



Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at agfab2013@gmail.com


Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535


Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply