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There are the things to think about besides trading once the price hits a specific Fibonacci number. It's also important to mention that being a day trader means that you don't need to stay informed about trends or consider the essentials of the economy. After you get started beating the markets confidently on a normal basis, make an actual investment in the marketplace.

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In our previous Liteforex analysis, we were looking for the break of resistance to jump into the possible bullish rally, The price moves up twice but fails to break the resistance and reverse back.

Today I am sharing the possible alternate scenario if the price couldn’t break the resistance. Please go through the weekly and 4-Hour analysis written below.

Weekly EURGBP Technical Analysis

The chart is forming the descending channel in a weekly time frame and rejecting twice from the resistance indicating the possible bearish move ahead. bullish movement becomes an alternative thought after the resistance rejection couple of time.

Current market price is 0.8810 and if the price moves lower and break below 0.87250, then the bearish movement may confirm and the target could b 0.8500 maximum. If price moves up, breaks and close above the resistance level mentioned in the chart below, it will be the clear indication for the bullish move and the target could be 0.9000.

I have mentioned both targets level with the invalidation points in the chart below.

 

Weekly EURGBP Technical Chart

 Weekly EURGBP Technical Chart

 

EURGBP 4-Hour Technical Analysis Forecast

We love to share 4-Hour chart because it gives us earliest signal for possible next price direction. The 4-Hour chart confirms for us the clear resistance rejection area, the price touches the resistance level many times but fails to break and reverse back.

EURGBP is also moving in a rising support direction which is making a higher low pattern in a 4-Hour chart. As long as the price is bouncing from the support and rejecting from the resistance level, we will stay neutral and wait for the break of these levels.

If price break and close above the resistance in 4-Hour time frame, this will be the earliest indication for bullish movement and the target may b 0.9000.

If price break and close below the support level in 4-Hour chart, we may go for the bearish entry for the target 0.85000

Please have a look at 4-Hour technical EURGBP chart below for the trade idea

4-Hour EURGBP Technical Chart

4-Hour EURGBP Technical Chart

EUR GBP SUPPORT & RESISTANCE LEVELS

Watching Area Resistance Zone : 0.88450

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Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.

Upward movement was expected in a previous analysis, The price moves up but reverses back earliest then expected. Previous week closing candle was bearish but above the support level.

I am sharing 2 different time frame technical analysis for EURCHF expected movement. Please go through the analysis written below.

Weekly EURCHF Technical Analysis

The weekly support is at 1.4810 and the price touches this level twice last week. The volume is still in favor of the bearish move in a weekly time frame chart. The expected minimum target for bearish movement is 1.3280 . The confirmation of the mentioned target could be possible after the break of support area around 1.4810.

We will look for Daily time frame chart to get the earliest confirmation.

Please have a look at weekly technical EURCHF chart below

 

Weekly EURCHF Technical Chart

Weekly EURCHF Technical Chart

Daily EURCHF Technical Analysis

After breaking the major support, EURCHF is trading below the support level. The broken support becomes resistance and we are expecting more downward movement this week. The minimum selling target is at 1.13320.

As long as the price is moving below the broken support level, our thoughts will remain bearish and weekly and daily targets are same as per above analysis.

Please have a look at the daily technical chart below, I have created a possible movement diagram infographic details.

 

Daily EURCHF Technical Chart

Daily EURCHF Technical Chart

 EUR CHF SUPPORT & RESISTANCE LEVELS

Support 1:     1.13310

Resistance 1 : 1.16540

Please visit Economics to  get the update support & resistance levels

Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.

The correction was expected after the break of support in the previous analysis.The market starts correction and hit its minimum target level.

In our today analysis, we will look for the confirmation of further possible downside movement.

Today I am sharing weekly and 4-Hour price forecast, Please go through the technical analysis written below.

Weekly EURCAD Technical Forecast

EURCAD is near to its resistance zone which was previously broken support acting as a resistance.

According to the technical rules, The resistance becomes support when its break.

The current market price is 1.55191 and it could move a little bit more up towards 1.5683. We are expecting a reversal from 1.5683 and the minimum target after reversal could be 1.5000.

Alternately if price move above, break and close above 1.5683 in a weekly candle, it will be clear indication to change bearish thoughts.

Please have a look a weekly technical analysis below, i have mentioned possible next movement target levels.

 

Weekly EURCAD Technical Chart

Weekly EURCAD Technical Chart

EURCAD 4-Hour Technical Analysis Forecast

Hourly Charts help us to spot the earliest trend or reversal. The price is moving in higher high and higher low direction in a 4-Hour technical chart. As we are expecting a reversal, we will look closely at the hourly chart to get the break confirmation of support line drawn at the chart below.

We will look for sell entry once the support line will break and the minimum short-term target after breaking the support could be around 1.54000.

Please have a look at 4-Hour technical chart below, I have mentioned the possible breakout levels.

 

EURCAD 4-Hour Technical Chart

EURCAD 4-Hour Technical Chart

EURCAD SUPPORT & RESISTANCE LEVELS

Support 1:      1.54000

Resistance 1 : 1.56839

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Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.

In our previous analysis, we were expecting a bullish movement towards minimum 1.9067, Price moves up but fails to touch its first resistance and reverse back from 1.8550. We have 2 different thoughts for next possible movement. I am sharing weekly and daily time frame technical analysis to give my overview.

Weekly EURUSD Technical Analysis

Price fail to move up in a weekly movement and trading near to its support zone around 1.16400. The volume is still in a favor of the bullish movement. If price moves up and breaks above 1.1855 in a weekly closing, this will be the confirmation for bullish entry and the target could be 1.2000 which is also the resistance level of the weekly and daily chart.

We will look for daily analysis for a close overview and alternative scenario.

Please have a look at weekly EURUSD chart, I have drawn an expected movement diagram with target levels.

 

Weekly EURUSD Technical Chart

Weekly EURUSD Technical Chart

Daily EURUSD Technical Analysis

EURUSD is trading near to its support zone and yesterday closing indicating little bit more bearish move for coming day. The movement above 1.1855 may confirm the bullish pattern and could take price towards 1.2000 level.

 

Alternately if the price moves lower and breaks below the support line then it will invalidate our bullish thoughts and could open the next bearish level 1.3000, however, the chances for the break of support is lower.

 

Please have a look at the EURUSD daily technical chart below, I have mentioned to possible movement diagram with target levels.

 

Daily EURUSD Technical Chart

Daily EURUSD Technical Chart

EURUSD SUPPORT & RESISTANCE LEVELS

Support 1:     1.15544

Support 2:     1.15080

Resistance 1 :   1.18495

Resistance 2 :    1.2000

Feel free to visit to the link to understand the term Money Management.

Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.

EURJPY is trading between the range of 124.00 and 130.50 from a couple of weeks. The pair of Doji candles in the weekly chart indicating confusion between bulls and bears.

Our thoughts are still the same as per our previous analysis; I am sharing weekly and daily technical analysis below to give my view about possible next movement.

Weekly EURJPY Technical Analysis Forecast

EURJPY trading is trading in a small range from many days and almost closes at the same price for a couple of weeks. This indicating a sideways market and it could be the signal of confusion between buyers and sellers. The pair is also forming a symmetric triangle in a big overview and price could bounce from the support towards resistance level mentioned in the chart below.

The support is at 124.00 and the bounce is expected from the support towards symmetric resistance level which is at 134.00 in a weekly chart.

Please have a look at weekly EURJPY technical chart below; I have mentioned possible next target levels.

 

Weekly Technical EURJPY Chart

 Weekly Technical EURJPY Chart

Daily EURJPY Technical Analysis Forecast

 

The EURJPY is trading in higher low and lower low direction since few days and price is facing a support level around 124.00 as per the daily and weekly chart. Current market price is 128.21 and it could move lower towards 124.00 to touch its extreme support.

The bounce is expecting from the support towards minimum 132.00 and 134.00 in case of extension.

We will look for bullish entry from the better price around 124.00.

 

Please have a look at the EURJPY daily technical chart below, I have mentioned the possible movement levels.

 

EURJPY Daily Technical Chart

 EURJPY Daily Technical Chart

 

EUR JPY SUPPORT & RESISTANCE LEVELS

Support 1:     124.00

Resistance 1:   132.00

Resistance 2 : 134.00

Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.