Weekly Analysis

Hello guys,

This week we’ll be looking at the GBPJPY pair. We see that the pair has been on a downtrend for the most part. The main trend is bearish. Prices found a bottom and made some retracement. Then we see prices trading within a descending channel. At the most recent bottom of the descending channel, we see a hammer, signaling that there’s a high probability markets will reverse. They actually did reverse. Now at this point we have to wait for a clear breakout of the descending channel in order to have a clear signal of where the market will be headed.

Summary

Our bias is still bearish. The bulls have made a strong comeback by rejecting the prices moving lower and the confirmation by the bullish weeks.

A breakout outside the descending channel may show that the investors sentiment has changed and with the political drama of the Brexit we need to be careful trading this pair.

FX MARKET ANALYSIS NZDUSD NZDUSD 17th – 21ST Dec, 2018 📈📊💰

The kiwi has been on a losing streak and this pair has been on a significant downtrend. We see a break of the support and the price has come back to retest the price. The doji forms followed by the bears who have dominated the market. Are we going to see a continuation? We will let the price give us more light in the behavior of this pair in the forthcoming days.