We are glad to present you in this thread daily analytics of MasterForex Company.
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MasterForex analysts will offer you everyday reviews describing a currency pair's daily dynamics in several time frames, dynamics analysis based on several methods, explanation of analysis and indicators’ dynamics.
That we will be posting in this thread.
And more Analysis such as:
* Simple trading strategies analysis; composition of weekly ratings
* Description and comments to the most significant economic events of the day
* Comments to the next-day events mentioned in the economic calendar
* Integrated weekly reviews
The pair moves in the downward channel between the lines 1 and 2. The corrections between the lines 3 and 4 started after the rebound from the support line of the channel. The correction interrupted by the resistance level 0.9625. The Moving Averages show the slowdown of the bearish trend.
On the 1-hour chart:
The pair started the day between the support line 1 and the level 0.9610. The consolidation between the lines 1 and 2 continues. The price rebounded from the resistance line and decreased to the support line to the moment. The Moving Averages show bullish trend.
On the 15-minute chart:
The pair decreases to the support line 1 after the rebound from the resistance level 0.9625. If the tendency could remain bearish trend will continue. The nearest target is the level 0.9545. If the pair will continue the dynamics between the lines 1 and 2 upward dynamics will continue.
The pair remains to correct between the lines 1 and 2 during bullish trend. The price decreased to the support line of bullish tendency 3 to the moment. The Moving Averages show formation of the reverse downwards.
On the 1-hour chart:
The pair started the day between the lines 1 and 2. The price decreased to the line 3 during the decrease after the consolidation between the lines 2 and 3 started. The price moves along the resistance line of the correction to the moment. The Moving Averages show remaining of the downward trend.
On the 15-minute chart:
The pair consolidates between the lines 1 and 2. The price places near the high border of the consolidation area. If the pair could break the resistance line 2 bullish trend will continue. If the line 1 could be broken traders will reach the signal for bearish trend.
The correction during bullish trend between the lines 1 and 2 continues. The channel of the correction enlarged to the lines 3 and 4. The price tests the support level 1.2475 to the moment. The Moving Averages show slowdown of the growth.
On the 1-hour chart:
The pair remains to correct between the lines 1 and 2. The pair rebounded from the resistance line of the correction and continued bearish dynamics at the second part of Monday. The pair decrease to the support level 1.2475 and rebounded to the resistance level 1.2495. The Moving Averages show the remaining of bearish trend.
On the 15-minutechart:
The pair started the day between the resistance line of the downward channel 2 and support level 1.2495. The price places between the lines 1.2475 and 1.2495 to the moment. The pair moves in the direction of the resistance line 2. The price started to test the support level after the rebound from the resistance level. If the tendency could remain the pair will break the support and will continue the correction. The break through the resistance level will mean the continuation of the trend.
The pair pierced the area 0.9908/05, but found a support at 0.9892. The attempt to pierce the mentioned area in backwards failed. Now the decline continues. The moving averages confirm the flat character of the tendency.
On the 1-hour chart:
The pair confirmed the resistance level 0.9914 and started the decrease. The price dynamics between the mentioned resistance and support 0.9892 could be characterized as flat. The moving averages have a weak bearish bias.
On the 15-minute chart:
During the Asian session, the pair demonstrated a mixed dynamics with no clear direction. The nearest support level is 0.9898 while the resistance lies in the area 0.9908/05. Recommendation: refrain from trading until forming of a clear trend.
The pair continues to move within the two-week descending trend between the lines 1 and 2. After the long testing, the key support level 1.0388 was pierced. The moving averages confirm the intensive downward tendency.
On the 1-hour chart:
The pair is declining within the channel between the lines 1 and 2, which was formed on Monday. The price renewed the monthly low by reaching the 1.0348. The resistance line is under testing at the moment. The moving averages confirm the correction.
On the 15-minute chart:
The pair rebounded from the support line 1 and now is trying to gain a foothold above the line 2. The nearest resistance level – 1.0388. Recommendation: keep the long positions opened until the first signs of descending trend correction ended.
The pair rebounded from the resistance line 1 and started the sharply decline. The area 78.70/64 has been pierced. The price found a support at the level 78.50, which is under testing now. The moving averages are showing the descending trend.
On the 1-hour chart:
The pair was moving within the upward channel between the lines 1 and 2, but failed with breaking through the level 78.76. After the long flat between the mentioned resistance and level 78.64, price pierced the line 1 and bottom of the flat corridor and now is testing the level 78.50.
On the 15-minute chart:
The pair is fluctuating right above the level 78.50. Piercing of it will open a way to 78.40, while the rebound can push the price back to 78.64. In addition, the long flat is possible. Recommendation: close the positions and wait for the trend dynamics.
The price continues bearish dynamics between the lines 1 and 2. The support line 3 had been broken earlier and the pair decreased to the support level 0.9545. After that it was the next rebound and the line 4 had been formed. The Moving Averages show the remaining of the downward tendency.
On the 1-hour chart:
The price decreased to the support line 3 after the rebound from the cross of the line 2 and the level 0.9625. After that it was recoil from the line and formed the lines 4 and 5. The Moving Averages show the remaining of bearish tendency.
On the 15-minute chart:
The support line 1 had been formed at the beginning of the day. The price rebounded from the resistance level 0.9577 during the fluctuations and formed the resistance line 2. If the tendency could remain the pair will break the support line 1 and the level 0.9550. It will mean the continuation of the bearish trend. If the line 2 could be broken the correction will remain.
The pair remains to move in the direction of the upward channel between the lines 1 and 2. The pair rebounded from the support line 1 and broken the resistance line of the channel 3 earlier. The price increased to the resistance level 1.5833 after the rebound. The price continued bearish dynamics after the recoil. Move over it had been formed the resistance line 4. The Moving Averages show formation of the flat tendency.
On the 1-hour chart:
The pair continued the dynamics in the upward channel between the lines 1 and 2. The price reached the support line of the channel and rebounded upwards during the correction between the lines 3 and 4. Herewith the line 4 had been broken. The pair increased to the level 1.5833 and rebounded downwards. As a result it had been formed the resistance line 5 and the price continued the correction.
On the 15-minute chart:
The price formed the lines 1 and 2 and remains bearish dynamics in the upward channel after the rebound from the resistance level 1.5833. If the tendency could remain the pair will reach the support line of the upward channel 1 on the 1-hour chart. If the resistance line 2 could be broken the price will continue trend dynamics.
The pair remains to move in the upward corridor between the lines 1 and 2. The price decreased tot eh level 1.2480. After that it was a rebound from the previous local high level 1.2577 the resistance line 4 had been broken as well. The pair recoiled down with the formation of the resistance line 5 after the resistance level had been reached. The Moving Averages show remaining of the bullish tendency.
On the 1-hour chart:
The price decreased to the support level 1.2475 and rebounded to the resistance level 1.2570 with the break through the resistance line of the channel during the correction. The support line 3 had been formed during the growth. The line 3 had been broken after the rebound from the resistance level 1.2570 and it had been formed the resistance line 4. The Moving Averages show the slowdown of the growth.
On the 15-minute chart:
The pair rebounded from the resistance level 1.2570 at the first hours of the day. The pair formed downward channel between the lines 1 and 2 during the correction. If the tendency could remain the pair will break the support level 1.2450 and will continue the dynamics in the direction of pervious local low. If the resistance line could be broken the pair will continue to test the resistance level.
