Daily analysis of major pairs for December 5, 2017 05.12.2017


EUR/USD: The EUR/USD pair did not do anything significant yesterday; but the bullish bias is still present. A further bullish movement is possible this week, for price could target the resistance lines at 1.1900, 1.1950 and 1.2000. A stubborn opposition would be met at the resistance line of 1.2000.

Exchange Rates 05.12.2017 analysis

USD/CHF: The USD/CHF pair went downwards massively on Friday, and then opened this week with a gap-up. However, the bearish bias on the market remains valid. Unless the resistance level at 0.9900 is breached to the upside, there cannot be any threat the bearish bias. Further bearish movements are a possibility.

Exchange Rates 05.12.2017 analysis

GBP/USD: The Cable has fluctuated southwards since the beginning of this week, and that is about to create a threat to the recent bullish effort in the market. A movement below the accumulation territory at 1.3300 would render the bullish effort invalid, while a movement to the upside (from here), would strengthen it.

Exchange Rates 05.12.2017 analysis

USD/JPY: This currency trading instrument opened with a minor gap-up this week. After the supply level at 113.00 has been tested, price began to consolidate. Since the bearish outlook on the market is still valid, the pair is expected to continue going downwards, towards the demand levels at 112.50, 112.00, and 111.50.

Exchange Rates 05.12.2017 analysis

EUR/JPY: After this cross opened early this week, there has been a slight bearish correction in a context of an uptrend. The Bullish Confirmation Pattern in the 4-hour chart remains extant – unless price goes below the demand zone at 132.50. A movement upwards from here is anticipated, which would take price towards the supply zones at 133.50 and 134.00.

Exchange Rates 05.12.2017 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.


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