EUR / USD pair: plan for the US session on November 19. Bulls are building a new level for continued growth

To open long positions on EUR / USD pair, you need:

Buyers of the European currency are focused on the resistance of 1.1429 today, which I talked about in more detail in my morning forecast. We can see that it was not possible to break through above from the first time, however, the euro did not fall quickly either. his suggests that buyers are preparing for the breakthrough of 1.1429, and during the next test, I recommend opening long positions at the breakdown in order to update already new weekly highs around 1.1456 and 1.1485, where I recommend taking profits. In the event of a decline in EUR/USD in the afternoon, it is best to consider buying the euro on a rebound from the major support 1.1381.

To open short positions on EUR / USD pair, you need:

The bears tried to prove themselves in the first half of the day after the update of last week's high in the area of resistance at 1.1429 but there was no major fall from this level. Despite this, as long as trading continues below 1.1429, the pressure on the euro will continue since there is a clear divergence on the MACD indicator, which could lead the pair to the lower border of the channel 1.1380, where I recommend taking profits. The main task of sellers will be a breakthrough and consolidation under the level of 1.1380, which will quickly push the euro to a minimum of 1.1329, where I recommend taking profits.

Indicator signals:

Moving averages

Trade is conducted above the 30- and 50-day average, which indicates the bullish nature of the market.

Bollinger bands

A break of the upper border of the indicator in the 1.1429 area could lead to a sharp rise in the euro.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

The material has been provided by InstaForex Company - www.instaforex.com

GBP / USD pair: plan for the US session on November 19. Pound buyers have not coped

To open long positions on the GBP / USD pair, you need:

The bears did not allow the pound buyers to break through the resistance level of 1.2877, which I talked about in more detail in my morning review. At the moment, the challenge is still breaking through at 1.2877, which will open a direct road to the area of maximum at 1.2962, where I recommend taking profits. In the case of a decrease in the pound in the second half of the day, support will be found at the level of 1.2780, however, it is best to open long positions to rebound from the low of 1.2725.

To open short positions on the GBP / USD pair, you need:

The failure to consolidate above the resistance of 1.2877 led to the sale of the British pound, which I spoke about in my morning forecast. A decline and breakdown of support at 1.2780, which is the current target of the GBP/USD pair, will lead to a larger sale with testing of 1.2725 and minimum of 1.2662 where I recommend taking profits. n the case of positive news on Brexit, a break of 1.2877 will lead to an increase in pounds. In such a scenario, it is best to open short positions to rebound from the highs of 1.2962 and 1.3039.

Indicator signals:

Moving averages

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

Bollinger bands

The Bollinger Bands indicator indicates a decrease in volatility and does not give signals on the market entry.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

The material has been provided by InstaForex Company - www.instaforex.com

Simplified Wave Analysis. Review of USD / JPY pair for the week of November 19

Wave pattern on the H4 chart:

On the chart of the Japanese yen major pair, a downward wave has been developing since July. It shows a wrong appearance, forming a correction trend of a larger scale.

Wave pattern on the H1 chart:

The downward zigzag that began on October 4 completes the wave of the higher H4 timeframe. The structure formed the first 2 parts (AB).

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Wave pattern on the M15 chart:

The wave of November 12 is moving down. It is expected to be completed in the area of support consolidation.

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Recommended trading strategy:

Sales can be recommended for intraday trading. Investment supporters are advised to refrain from transactions until the current downward wave is completed.

Resistance zones:

- 114.20 / 114.70

Support areas:

- 111.70 / 111.20

Explanations of the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure while the dotted shows the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

The material has been provided by InstaForex Company - www.instaforex.com

Australian dollar has probably experienced a black line

A sharp turn of the Australian dollar in the first half of November begins to convince Forex traders that the worst days for the currency may be behind.

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Australia put the brakes on a recession in 2018 and reached 10 percent in October, influenced by signs of Sino-US trade tensions weakening, improved terms of trade and robust employment prospects.

Today, there is a sharp reversal of the currency, which until recently was the worst performer among the major currencies this year. Burdened by the actions of the Central Bank, it seems like they intend to keep interest rates at a record low in the long run.

Just a few weeks ago, the Australian dollar was testing 70 US cents, firmly entrenched in a bearish trend that stretched back in January.

According to the senior currency strategist at Westpac Banking Corp. in Sydney, Sean Callow, the decrease in the Australian dollar to annual lows is becoming less and less likely. e expects that any reduction to the key psychological level at the end of the year will be short-lived, and suggests that the currency pair will trade around 0.72 by 2019, which is partly due to stimulus efforts from China, who is Australia's largest trading partner.

The material has been provided by InstaForex Company - www.instaforex.com

EUR / USD pair: plan for the European session on November 19. The APEC summit ended in a raised voice and Euro growth is

To open long positions on EUR / USD pair, you need:

The demand for risky assets may slow down again since the APEC summit did not produce the desired results in the negotiations between the US and China on trade relations. Traders should pay attention to the purchases when the support area of 1.1380 decreases and a false breakdown is formed at this level. Otherwise, it is best to open long positions for a rebound from the minimum of 1.1329, where a larger lower boundary of the ascending channel will be formed. The main task of the euro buyers today will be the breakdown and consolidation above the resistance 1.1430, which will lead to testing of 1.1356 and 1.1485 highs, where I recommend taking profits.

To open short positions on EUR / USD pair, you need:

Bears can prove themselves after the last week's high update in the area of resistance at 1.1429 and the formation of divergence on the MACD indicator in this scenario will be a direct signal to open short positions in euro to reduce to the lower border of the channel at 1.1380, where I recommend to fix profits. The main task of sellers will be a breakthrough and consolidation under the level of 1.1380, which will quickly push the euro to a minimum of 1.1329, where I recommend taking profits. There is not expected important fundamental statistics to be released today, which may limit the upward potential of the EUR/USD pair.

Indicator signals:

Moving averages

Trade is conducted above the 30- and 50-day moving average, which maintains the upward trend in the pair.

Bollinger bands

The upper limit of the Bollinger Bands indicator located in the area of 1.1435 can limit the upward potential in euros and when tested, I recommend selling the euro for a rebound. In the case of a decline in the euro, the lower limit of the indicator in the 1.1370 area will be a good level for purchases.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

The material has been provided by InstaForex Company - www.instaforex.com