Technical analysis from 19 December 2019

19.12.2019
13:15

NZD / USD rose from the beginning of trading from $0.6575 to $0.6595, but later lost all won positions and again fell to $0.6575. The pair is testing the moving average MA (200) H1($0.

13:05

USD / JPY is trading lower, dropping to Y109. 50, after a slight rise since the beginning of trading to the maximum on December 13 (Y109. 70). The pair rose above the moving average MA (200) H1 (Y109.

12:55

USD / CHF is trading in the Chf0.9795-0.9810 range, remaining within yesterday's chf0.9795-0.9820 range. The pair continues to trade slightly above the new three-month low of Chf0. 9795.

12:49

GBP / USD is trading within yesterday's range of $1.3050-1.3130 after falling since the beginning of the week from $1.3420 to $1.

12:36

EUR / USD in today's trading rose from $1.1110 to $1.1145, at the time of publication of the article fell to $1.1130. Note, yesterday the pair declined, reaching a low on December 13 ($1.1110).

07:13

Yesterday, USD / CAD decreased from C$1.3175 to the psychological level C$1.3100 and closed the session around C$1.3110. The pair is trading near a six-week low.

06:58

AUD / USD rose from the beginning of trading from $0.6850 to $0.6880 on positive data from the Australian labor market. Yesterday the pair traded in the range of $0.6840-65.

06:45

Yesterday, the price of gold fell to the end of European trading from $1479 to $1470. Later, XAU / USD rose in price and closed the session around $1474.

06:33

Yesterday, Brent crude rose in late trading from $65.60 to a new three-month high of $66.45. Today, oil started trading in a narrow range around $66.25.

06:25

Yesterday, USD / JPY fell slightly from the beginning of trading to Y109. 40, but during European trading rose and closed the session around Y109.60. Today, the pair started trading in the range Y109.

06:12

Yesterday, USD / CHF was trading in the range of Chf0.9795-0.9820 - slightly above the new three-month low of Chf0.9795. Today the pair started trading in a narrow range Chf0. 9795-0.9810.

05:50

Yesterday, GBP / USD traded in the range of $1.3050-1.3135 after falling from the beginning of the week from $1.3420 to $1.

05:38

Yesterday, EUR / USD fell from $1.1155 to $1.1110, reaching a low on December 13. Today, the pair started trading with growth and rose to $1.1125.

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD
  • FOREX CURRENCY MARKET ANALYSIS

    FOREX ANALYSIS: TECHNICAL AND FUNDAMENTAL

    Forex analysis is based on monitoring all indicators that affect exchange rate fluctuations. First of all, these are macroeconomic indicators. These include the country's GDP, inflation, interest rates, etc. As a rule, these data are presented in countries' macroeconomic reports. After they are released, the exchange rate may change dramatically. See the economic calendar to learn the frequency of releases of such information.

    Forex technical analysis uses information about exchange rate fluctuations over different time periods. Future exchange rates are forecast based on past or current data on exchange rate fluctuations. This type of analysis of the currency market uses various mathematical forecasting methods to help traders quickly draw conclusions about the situation on the market and make decisions on buying or selling a currency.

    ANALYSIS IS NOT SOMETHING A NOVICE CAN EASILY DO

    It is not easy for a novice trader to comprehend the wide variety of information coming from Forex and other financial markets. This is when forex analysis, which is provided by major brokers, in particular TeleTrade, comes to the rescue. On the company's website, you will always find forex technical analysis and stock market analysis, as well as fundamental research and forex recommendations. Market analysis is not something a novice can easily do. Therefore, you should only rely on professional research. Thanks to timely and high-quality forex market analytics , you can minimize your risks and make your investments as profitable as possible. You can bet that you will not miss a trend. By the way, it is from professional analysts that you can learn to accurately determine the forex trend, conduct technical analysis of the market and navigate the sea of significant current events in the forex currency market and other markets. The market analysis section is updated daily, so that you can have the whole picture of events.

    Teletrade experts' reports, based on graphical analysis of the dynamics of popular currency pairs and gold, are regularly posted on this page.

    The image combines several types of data: support and resistance lines, trading history, and a candlestick analysis chart . Each reference is accompanied by comments about possible price movements.

    Analytics for various currency pairs are published every 15 minutes. For each tool, a morning and an afternoon reference are available, as well as additional references at night.

    BASIC AXIOMS OF FOREX TECHNICAL ANALYSIS

    Forex technical analysis is based on three main axioms:

    • Prices include everything

    This implies that all information that can affect the currency exchange rate has already been taken into account, and there is no need to further study the dependence of the exchange rate on political and macroeconomic factors for Forex technical analysis.

    • Price follows the trend

    This axiom means that rates do not change randomly, but follow certain trends or a forex trend. Therefore, time rows of fkuctuations in exchange rates can be divided into intervals, in which the rate moved in one direction, subject to one of the three trends: descending, ascending, or sideways.

    • History repeats

    This axiom means that currency exchange rate fluctuations usually follow a cyclical pattern: rises are followed by recessions, sideways market movements and new rises, and if certain methods of technical analysis have worked in the past, they will work in the future, since they are based on human psychology, which remains unchanged. That is, forex trends tend to repeat themselves.

    The process of technical analysis of the currency market is based on identification of individual trends and (or) so-called patterns—typical chart shapes or formations. Flag, Double Top, and Triple Top are the most famous patterns in technical analysis. The Head and Shoulders formation is a type of a triple top, whose first and the third peaks are lower that the second one. You can also encounter triangular-shaped patterns when analyzing Forex. Based on the identified trends and using various methods of technical analysis, conclusions are drawn about where the currency exchange rate is going, and a decision is made on the best option for entering and exiting a transaction.

    Despite the fact that many currency traders consider it more rational to use technical analysis, in our opinion, one should not rely solely on technical analysis when trading. You should also not limit yourself to only using the fundamental Forex analysis. In reality, correct combination of these two methods is the basis of successful currency trading. Therefore, if you want to earn a high income by trading, you should pay equal attention to both fundamental and technical analysis of Forex.

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