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What to trade today: Wednesday 17th November: Technical Outlook and Review

Elan Posh 0

 

 

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Daily Market Analysis is technical analysis for the most traded instruments on the global financial markets. Always know how and what to trade today in order to stay highly profitable and safe. Learn how to trade forex, stocks & crypto for free with our free trading education section here on TRESORFX website.

If you are having difficulties understanding what to trade, how to trade, when to trade, simply text us on WhatsApp and book a free training session with one of our trading specialists.

 

 

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DXY:

On the H4 timeframe, prices are on a bullish momentum. We see potential for a short pullback towards our 1st support at 95.263 in line with 38.2% and 61.8% Fibonacci retracement. Stochastics are at a level where dips previously happened. Alternatively, prices might climb towards our 1st resistance at 96.058 in line with 78.6% Fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance at 96.058
  • H4 time frame, 1st support at 95.263

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XAU/USD (GOLD):

On the H4 chart, prices have recently broken out of our ascending trendline and have tested our 1st support at 1851.66. We would watch our intermediate resistance at 1863.84 for any reversal pattern to confirm a trend reversal.  As technical indicators are showing mixed signals, we prefer to remain neutral for now.

Areas of consideration:

  • 4h 1st support at 1851.66
  • 4h intermediate resistance at 1863.84

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EUR/USD:

On the H4 chart, price is near support level of 1.13230 which is also the graphical swing low. Price can potentially go to the first resistance of 1.13826 which is also 23.6% Fibonacci retracement and 78.6% Fibonacci projection.  Our bullish bias is supported by the stochastic indicator as it is near support level.

Areas of consideration :

H4 first support – 1.13182

H4 first resistance – 1.14616

 

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USD/CHF:

On the H4 timeframe,price is currently reacting at a level of resistance where price has tested many times and failed to break pass. We can expect price to drop from 1st Resistance in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards the 1st Support in line with 23.6% Fibonacci retracement and 100% Fibonacci projection.  Our short-term bearish bias is further supported by the stochastic indicator where the %K line touched the resistance level waiting for the drop.

Areas of consideration:

  • Watch 1st Support at 0.92635
  • Watch 1st Resistance at 0.93123

 

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GBP/USD:

Price is trading in a descending trendline and  near the first resistance level of 1.34322 which is also 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially dip to the first support level of 1.33550 which is the graphical swing low. Alternatively if price were to break to the first resistance of 1.3433, it can go to the 2nd resistance. Our bearish bias is supported by the moving average and ichimoku cloud indicator as price is trading under it.

Areas of consideration :

1st resistance – 1.34333

1st support – 1.33585

 

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USD/JPY :

On the H4 timeframe, we can expect price to make a short-term retracement from 1st resistance in line with 78.6% Fibonacci projection towards 1st Support in line with 50% Fibonacci retracement and 127.2% Fibonacci Projection. Our short-term bearish bias is further supported by a stochastic indicator where the%K line approached the resistance.

Areas of consideration:

  • H4 1st resistance level 114.894
  • H4 1st support level 114.292

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AUD/USD:

On the H4, we can see that price is abiding to the descending trendline resistance, signifying a bearish momentum. However, we can expect price to make a small retracement and bounce from 1st Support in line with 61.8% Fibonacci projection towards the 1st Resistance in line with 61.8% Fibonacci projection. Our short-term bullish momentum is further supported by the stochastic indicator where the%K line would bounce from the support level.

Areas of consideration:

  • H4 1st resistance level 0.73413
  • H4 1st support level 0.72842

 

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NZD/USD:

On the H4 timeframe, prices are on a bearish momentum. We see potential for prices to dip further to test our 1st support at 0.69798 in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement towards our bearish trendline. Technical indicators are showing bearish momentum. If prices break our 1st support, prices can potentially dip further towards our 2nd support at 0.69356 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension.

Areas of consideration:

  • H4 time frame, 1st resistance at 0.70849
  • H4 time frame, 1st support at 0.69798

 

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USD/CAD:

On the H4, with price approaching resistance on the stochastics indicator, we have a bearish bias that price will dip to 1st support at 1.24935 in line with the graphical swing low support from 1st resistance at 1.26028 in line with the horizontal overlap resistance and possibly to 2nd support at 1.24163 in line with our horizontal overlap resistance and 61.8% Fibonacci retracement level. Alternatively, we may see price break 1st resistance structure and head for 2nd resistance at 1.27083 in line with the100% Fibonacci projection level and horizontal swing high resistance.

Areas of consideration:

  • H4 time frame, support at 24935
  • H4 time frame, resistance at 26028

 

 

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OIL:

On the H4 timeframe,we can see price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 83.10 in line with the 50%  Fibonacci retracement level and horizontal swing high resistance to 1st support at 80.68  in line with our horizontal swing low support. Alternatively, price may break 1st resistance and head for 2nd resistance at 84.47  in line with our 78.6% Fibonacci retracement levels.

Areas of consideration:

  • H4 time frame, 1st resistance of10
  • H4 time frame, 1st support of68

 

 

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Dow Jones Industrial Average:

On the H4, with price testing the support on the ascending trendline, the support of the ichimoku cloud and the horizontal overlap support at 1st support in line with the 38.2% Fibonacci retracement at 36160, we are biased that price will rise from here to 1st resistance at 36568  in line with the horizontal swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 35816  in line with graphical overlap support and 78.6% Fibonacci retracement.

Areas of consideration:

  • 4H resistance at 36568
  • 4H support at 36160

 
 
 
 

Buy Sell 


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Text us for more info about our managed trading accounts!


 

 

 

Daily Market Analysis, FREE Trading Signals, Managed Forex Trading Accounts

Daily Market Analysis is technical analysis for the most traded instruments on the global financial markets. Always know how and what to trade today in order to stay highly profitable and safe. Learn how to trade forex, stocks & crypto for free with our free trading education section here on TRESORFX website.

If you are having difficulties understanding what to trade, how to trade, when to trade, simply text us on WhatsApp and book a free training session with one of our trading specialists.

 

 

DXY:

On the H4 timeframe, prices are on a bullish momentum. We see potential for a short pullback towards our 1st support at 95.263 in line with 38.2% and 61.8% Fibonacci retracement. Stochastics are at a level where dips previously happened. Alternatively, prices might climb towards our 1st resistance at 96.058 in line with 78.6% Fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance at 96.058
  • H4 time frame, 1st support at 95.263

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0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

XAU/USD (GOLD):

On the H4 chart, prices have recently broken out of our ascending trendline and have tested our 1st support at 1851.66. We would watch our intermediate resistance at 1863.84 for any reversal pattern to confirm a trend reversal.  As technical indicators are showing mixed signals, we prefer to remain neutral for now.

Areas of consideration:

  • 4h 1st support at 1851.66
  • 4h intermediate resistance at 1863.84

 

United States's wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

EUR/USD:

On the H4 chart, price is near support level of 1.13230 which is also the graphical swing low. Price can potentially go to the first resistance of 1.13826 which is also 23.6% Fibonacci retracement and 78.6% Fibonacci projection.  Our bullish bias is supported by the stochastic indicator as it is near support level.

Areas of consideration :

H4 first support – 1.13182

H4 first resistance – 1.14616

 

 

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0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

USD/CHF:

On the H4 timeframe,price is currently reacting at a level of resistance where price has tested many times and failed to break pass. We can expect price to drop from 1st Resistance in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards the 1st Support in line with 23.6% Fibonacci retracement and 100% Fibonacci projection.  Our short-term bearish bias is further supported by the stochastic indicator where the %K line touched the resistance level waiting for the drop.

Areas of consideration:

  • Watch 1st Support at 0.92635
  • Watch 1st Resistance at 0.93123

 

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0.0 pips spreads | 500:1 leverage

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GBP/USD:

Price is trading in a descending trendline and  near the first resistance level of 1.34322 which is also 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially dip to the first support level of 1.33550 which is the graphical swing low. Alternatively if price were to break to the first resistance of 1.3433, it can go to the 2nd resistance. Our bearish bias is supported by the moving average and ichimoku cloud indicator as price is trading under it.

Areas of consideration :

1st resistance – 1.34333

1st support – 1.33585

 

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0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

USD/JPY :

On the H4 timeframe, we can expect price to make a short-term retracement from 1st resistance in line with 78.6% Fibonacci projection towards 1st Support in line with 50% Fibonacci retracement and 127.2% Fibonacci Projection. Our short-term bearish bias is further supported by a stochastic indicator where the%K line approached the resistance.

Areas of consideration:

  • H4 1st resistance level 114.894
  • H4 1st support level 114.292

 

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0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

AUD/USD:

On the H4, we can see that price is abiding to the descending trendline resistance, signifying a bearish momentum. However, we can expect price to make a small retracement and bounce from 1st Support in line with 61.8% Fibonacci projection towards the 1st Resistance in line with 61.8% Fibonacci projection. Our short-term bullish momentum is further supported by the stochastic indicator where the%K line would bounce from the support level.

Areas of consideration:

  • H4 1st resistance level 0.73413
  • H4 1st support level 0.72842

 

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0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

NZD/USD:

On the H4 timeframe, prices are on a bearish momentum. We see potential for prices to dip further to test our 1st support at 0.69798 in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement towards our bearish trendline. Technical indicators are showing bearish momentum. If prices break our 1st support, prices can potentially dip further towards our 2nd support at 0.69356 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension.

Areas of consideration:

  • H4 time frame, 1st resistance at 0.70849
  • H4 time frame, 1st support at 0.69798

 

United States's wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

USD/CAD:

On the H4, with price approaching resistance on the stochastics indicator, we have a bearish bias that price will dip to 1st support at 1.24935 in line with the graphical swing low support from 1st resistance at 1.26028 in line with the horizontal overlap resistance and possibly to 2nd support at 1.24163 in line with our horizontal overlap resistance and 61.8% Fibonacci retracement level. Alternatively, we may see price break 1st resistance structure and head for 2nd resistance at 1.27083 in line with the100% Fibonacci projection level and horizontal swing high resistance.

Areas of consideration:

  • H4 time frame, support at 24935
  • H4 time frame, resistance at 26028

 

 

United States's wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

OIL:

On the H4 timeframe,we can see price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 83.10 in line with the 50%  Fibonacci retracement level and horizontal swing high resistance to 1st support at 80.68  in line with our horizontal swing low support. Alternatively, price may break 1st resistance and head for 2nd resistance at 84.47  in line with our 78.6% Fibonacci retracement levels.

Areas of consideration:

  • H4 time frame, 1st resistance of10
  • H4 time frame, 1st support of68

 

 

 

United States's wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

Dow Jones Industrial Average:

On the H4, with price testing the support on the ascending trendline, the support of the ichimoku cloud and the horizontal overlap support at 1st support in line with the 38.2% Fibonacci retracement at 36160, we are biased that price will rise from here to 1st resistance at 36568  in line with the horizontal swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 35816  in line with graphical overlap support and 78.6% Fibonacci retracement.

Areas of consideration:

  • 4H resistance at 36568
  • 4H support at 36160

 
 
 
 

Buy Sell 


United States's wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

GET A FREE CONSULTATION NOW!

 

 


 

This is how you can make €1000 income daily!

 

 

Register bellow and we will tell you how to do it (or we will do it for you.. for a small fee)



FOR DAILY SIGNALS, TECHNICAL VIEWS, MANAGED ACCOUNTS and other services with GUARANTEED PERFORMACE, simply text us on WhatsApp to get more info!

Click here to send a dircet text to us!

WhatsApp number: +447747535495


Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

Open an Account NOW

and gain access to the Premium Daily Signals, made by certified CFA traders with guaranteed minimum profit of 50 pips per trade (5 - 10 premium signals daily)

MAKE MORE MONEY


ENJOY YOUR LIFE! LEAVE THE TRADING TO US!

Text us for more info about our managed trading accounts!


 

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