| Intraday technical levels and trading recommendations for GBP/USD for December 7, 2018 2018-12-07 
On October 30, the GBP/USD pair looked oversold around the lower limit of the H4 channel around 1.2700 where profitable BUY entries were suggested. A quick bullish movement was demonstrated towards the price level of 1.3170-1.3200 where another descending high around the depicted downtrend was established. This initiated the current bearish pullback towards the depicted consolidation-zone of (1.2750-1.2880) where the current sideway movement within the depicted H4 channel was initiated. Recently, the GBP/USD pair failed to establish a successful bullish breakout above the price level of 1.2880 (the upper limit of the current consolidation range). This week, unsuccessful bearish breakout attempts were demonstrated below 1.2720. Moreover, signs of bullish recovery originated around 1.2670 earlier this week. Bullish persistence above 1.2780 (78.6% Fibo level) is mandatory to enhance the bullish side of the market towards 1.2880 and 1.2940 where new trading decisions should be taken upon price action. On the other hand, the current scenario may pursue a bearish flag continuation pattern provided that bearish persistence below 1.2730 is achieved on lower timeframes quickly. Projected target for the bearish flag continuation pattern is initially located around 1.2600. Fundamental Analysis of NZD/USD for December 7, 2018 2018-12-07 NZD/USD has been quite bearish recently after opening the market with a gap this week. The pair is trading lower below 0.69 with a daily close. Ahead of NFP reports, USD is currently quite indecisive whereas NZD is struggling for gains amid the recent economic reports. This may lead to downward momentum. Recently New Zealand Overseas Trade Index report was published with a decrease to -0.3% from the previous value of 0.4% which was expected to be at 0.1% and ANZ Commodity Index report was published with an increase to -0.6% from the previous value of -2.4%. NZD is currently expected to stay low and stable, having already shed 3% of its value. The kiwi is expected to lose ground in the coming days, thus creating long-term pressure for the future. On the other hand, USD has been stalled its growth amid the recent economic reports. As a result, the pair is trading indecisively with low liquidity. Ahead of the reports on the US labor market today, certain volatility may be observed on the USD side. Today US Average Hourly Earnings report is going to be published which is expected to increase to 0.3% from the previous value of 0.2, Non-Farm Employment Change is expected to decrease to 198k from the previous figure of 250k, and Unemployment Rate is expected to be unchanged at 3.7%. Though the expectations are mixed, certain optimistic bias can be observed in the market which might lead to certain gains on the USD side if better than expected economic figures are published today. Meanwhile, USD may extend some gains ahead of upcoming NFP reports while New Zealand provides no economic data to deviate the upcoming pressure and bearish market bias. To sum up, USD is expected to gain certain momentum over NZD in the coming days. Now let us look at the technical view. The price is currently quite indecisive but having certain bearish pressure below 0.69 and forming Bearish Divergence in the process, is expected to lead the price lower towards 0.6780-0.6800 support area before pushing higher towards 0.7050 in the future. As the price remains above 0.6700 area with a daily close, the bullish bias is expected to continue. SUPPORT: 0.6700, 0.6780-0.6800 RESISTANCE: 0.69, 0.7050 BIAS: BULLISH MOMENTUM: NON-VOLATILE 
Intraday technical levels and trading recommendations for EUR/USD for December 7, 2018 2018-12-07 
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. On the Daily chart, the pair has been moving sideways with slight bearish tendency. Recent bearish consolidations have been maintained within the depicted daily movement channel since June 2018. On November 13, the EUR/USD demonstrated recent bullish recovery around 1.1220-1.1250 where the lower limit of the channel as well as the depicted demand zone came to meet the pair. Bullish fixation above 1.1420 is needed to enhance further bullish movement towards 1.1520. However, the market has demonstrated significant bearish rejection around 1.1420 few times so far. The EUR/USD pair remains under bearish pressure below 1.1420. Thus, the pair remains trapped between 1.1420 and 1.1270 until breakout occurs in either direction. Bullish fixation above 1.1420 is needed to enhance further bullish advancement towards 1.1520 and 1.1610. On the other hand, if early bearish breakout below 1.1270 is achieved on lower timeframes, a quick bearish decline should be expected towards 1.1150-1.1100. GBP/USD analysis for December 07, 2018 2018-12-07 
Recently, the GBP/USD pair has been trading sideways at the price of 1.2765. According to the M15 time – frame, I found out that price is trading above the daily pivot (1.2764), which is a sign that selling looks risky. I also found on the point and figure chart that there is a triple top formation created, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2826 (resistance 1) and at he price of 1.2875 (resistance 2).
Author's today's articles: Mohamed Samy  Born November 18, 1966, in Egypt. In 1990 graduated from the Faculty Of Engineering, Alexandria University. In 2000 started to follow financial markets. Took a higher diploma in investing and finance in 2008 and also CMT in 2009. Started at the Financial World as an analyst, then worked as a technical analysis consultant at Misr Financial Investments Co. Since 2005 has been working on the Stock Exchange. Has been familiar with Forex since December 2005. Being a member of the Egyptian Society of Technical Analysis, attends seminars and conferences dedicated to financial markets. Is a member of the American Market Technicians Association. Interests: football, reading, volleyball, swimming, movies Rocky Yaman  MD Rocky Yaman was born on 18th February. Graduated from East Delta University, Chittagong, Bangladesh by obtaining a degree in Business Administration. Rocky started FOREX trading since 2011. He uses market context and price action elements to understand the market behavior and forecast upcoming moves of the currency cources. MD Rocky Yaman has developed his own trading technique named Dividend by 4 rule which helps to understand the market pressure and real time trade execution for medium term and short term trading. He is writing forex forecasts and articles since 2013 and at the moment is experienced analyst and trainer in Price Action theory. Petar Jacimovic  Petar was born on July 08, 1989 in Serbia. Graduated from Economy University and after has worked as a currency analyst for large private investors. Petar has been involved in the world of finance since 2007. In this trading he specializes in Volume Price Action (volume background, multi Fibonacci zones, trend channels, supply and demand). He also writes the market analytical reviews for Forex forums and websites. Moreover Petar is forex teacher and has wide experience in tutoring and conducting webinars. Interests : finance, travelling, sports, music "The key to success is hard work"
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Author's :
Alexandros Yfantis, Arief Makmur, Dean Leo, Oscar Ton, Michael Becker, Mohamed Samy, Mourad El Keddani, Petar Jacimovic, Rocky Yaman, Sebastian Seliga, Torben Melsted
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