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28.01.2020

USD/JPY: wave analysis

The pair may grow.

On the daily chart, the first wave of the higher level 1 of (C) is being formed. At the moment, the formation of the lower level wave iii of 1 has begun, as part of which the first wave of the lower level (i) of iii has formed and the downward correction as wave (ii) of iii is being completed. If the assumption is right, the growth of the pair may continue to the levels of 111.00–112.35 after it is complete. The level of 108.62 is critical and stop loss for this scenario.

EUR/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is going to reverse from ascending to descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (119.646). The closest resistance level is Kijun-sen line (120.946).

EUR/CHF: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.0630). The closest resistance level is Tenkan-sen line (1.0730).

AUD/CAD: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.8860). The closest resistance level is Tenkan-sen line (0.8970).

27.01.2020

GBP/AUD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (1.9219). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9361).

GBP/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (1.9866). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9961).

EUR/GBP: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (0.8419). The closest resistance level is Kijun-sen line (0.8453).

Key Releases

USD is moderately strengthening against EUR and has ambiguous dynamics against JPY and GBP. Investors are focused on the spread of the new Chinese coronavirus. According to the statements of the Chinese authorities, more than 2.8K citizens have been infected, 81 people have died, and the peak of the epidemic is probably still ahead.

New Home Sales. USA, 17:00 (GMT+2)

The US data on New Home Sales for December will be released at 17:00 (GMT+2). New Home Sales measures the annualized number of new single-family homes that were sold during the prior month and is one of the most important indicators of the US construction market. It is expected that the figure will grow from 719K to 725K. If the forecast proves to be true, this may render support to USD.