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EUR/USD and GBP/USD August 16 – recommendations technical analysis
the Fundamental component
the Most important statistics are expected today in the afternoon. Especially note the publication of data on the number of issued building permits (USA, 15:30 GMT).
EUR / USD
the Pair continued the decline. At the moment, affected by the attraction of the historical level 1,1107. In the case of reliable overcoming of this level will further the interests of the bears will be associated with testing the strength of the minimal extremum (1,1027), at the same time will be fulfilled the downside target for the breakout clouds H4. Today we close the week. Players on the decline it is advisable to do it as preserving, and even strengthening their positions. Otherwise, the force encountered supports may contribute to the development of upward correction.
Yesterday, the Central Pivot level again reliably played the role of a barrier to the development of correction. As a result, the bears managed to continue to decline, marking a new low. Currently the pair is again in the area of correction. Resistance and targets of the new corrective rise is located today at 1,1120 (Central Pivot level) and 1,1172 (weekly long-term trend). Update minimum (1,1091) will be considered as supports the classic Pivot-levels 1,1080 – 1,1052 – 1,1012.
GBP / USD
the Current week, the pair works in the area of correction, while the players on the increase in recent days, seeking to strengthen its position and seize resistance of the fluorescent short-term trend (1,2111). Unearned support remains area 1,1986-65 (old level + first target the weekly goals for the breakdown of the clouds). Resistances, in the case of overcoming 1,2111 will serve 1,2229 (day Fibo Kijun) and 1,2296 (daily Kijun).
Players on increase managed to break the key levels at the moment, try to use them as supports. The work above 1,2071-96 (Central Pivot level + weekly long-term trend) will contribute to the preservation of bullish advantage. Reduction under the key levels will affect the current balance of power. To strengthen the position in the current situation for the bulls need to update and consolidate above yesterday's maximum (1,2150).
the Divergence of EUR / USD and GBP / USD (daily timeframe)
GBP / USD
Very late, without proper precision, but CCI formed a divergence with the price chart in favor of the bulls.
Ichimoku Kinko Hyo (9.26.52), Pivot Points ( classic ), Moving Avarage (120)
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