Forex technical analysis of the 09/05/2017

Dear readers,

Each morning, the team Forex.fr offers you the technical analysis of the day to the main cross of the foreign exchange market for the meeting of the 09/05/2017.

To put all the chances on your side, don’t forget to check our Forex charts in real-time.

And most importantly, don’t forget to place your orders! Good trading session to all!

In this analysis we use the difference between two moving averages (MM) of 12 and 26 periods, as well as two technical indicators : the RSI and the MACD. For a better understanding of these instruments of technical analysis, you can refer to the articles in the training section here. In respect of macroeconomic events on the program this week, you can find more information in our weekly events calendar.

EUR-USD

1st resistance
2nd resistance
1 support
2nd support
MM 12/26
RSI
MACD

1.1068
1.1000
1.0932
1.0900
Drop
Neutral
Drop

The first day of the week has been slightly bearish on this cross, with a return under the 1.1068. A test is in progress on the first support, but the trading volume is currently low, which does not facilitate the crossing of the support. The opening of the european markets will certainly help clarify the situation.

AUD-USD

1st resistance
2nd resistance
1 support
2nd support
MM 12/26
RSI
MACD

0.7420
0.7450
0.7382
0.7350
Drop
Neutral
Drop

The volatility of this cross may seem important during the day of Monday, but it is primarily a visual effect so that the movement have been weak in terms of variations in nominal pips. There will be several publications from australia over the night to come, which could bring the volatility needed at the start of a trend.

USD-JPY

1st resistance
2nd resistance
1 support
2nd support
MM 12/26
RSI
MACD

113.43
113.83
113.00
112.60
Increase
Increase
Increase

After several hours of hesitation, the dollar is advancing against the yen as asian markets were opening approach. The next few hours will determine whether the current trend is viable and can afford to take advantage of any opportunities for trades.

EUR-JPY

1st resistance
2nd resistance
1 support
2nd support
MM 12/26
RSI
MACD

123.63
124.00
123.23
122.80
Increase
Neutral
Neutral

The day of Monday, has been volatile on the cross, with movements that are relatively large, which could be profitable provided to protect the positions taken. The course is currently testing the resistance of 123.63 and the next will be crucial, while the asian markets were opening approach.

GBP-USD

1st resistance
2nd resistance
1 support
2nd support
MM 12/26
RSI
MACD

1.2956
1.2990
1.2920
1.2875
Drop
Neutral
Drop

The session listing in the us has led to the current slightly downward, so that the stagnation seems to be the new trend, in the expectation of the next publications to come. They are, however, a priori, not in the program of the day Tuesday.

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