For the EUR / USD pair - a downtrend towards the first target is 1.1427; For the GBP / USD pair- the uptrend in the upper channel with the target of 1.3740 (white thick line)
EUR / USD pair
Trend analysis (Figure 1)
In October, the market moved down and closed slightly below the recession level of 23.6% at 1.1676. The price in November may continue to decrease. A more complex analysis will show more accurately where the price will go next.
Fig. 1 (monthly chart).
Indicator analysis on the monthly schedule (Figure 2).
The system of indicators ADX (Figure 2) for the EUR / USD pair
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined from the indicators of the oscillator type.
Stochastic indicator (period 3/3/4) on the monthly chart gives a downward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
Closed candle was found at the last day
The property calculation of the RSI indicator (5) on the properties gives a downward trend.
The property calculation of the RSI indicator (8) on the properties gives a downward trend.
The bottom line: the RSI indicator system gives a downward trend.
The property calculation of the CCI indicator on the gives a downward trend.
The bottom line: the CCI indicator system gives a downward trend.
The result of the indicator analysis: the price will have a downward trend.
Calculation of the first shadow of the month (the first week) on a monthly chart.
Middle lines EMA 1/5/8 - the upper signal.
The indicator "three lines" (the direction of the lines of indicators CCI (5), RSI (5), stochastics with a period of 3/3/4) - the bottom signal.
Calculation of the RSI indicator system for the first tail is the bottom signal.
Result: the technical analysis calculation of the monthly candle for the month of November showed that the price movement in the first week of October will be lower, but finally a one-week schedule will answer this question definitively.
Calculation of the second shadow of the month (last week) on the monthly schedule.
The calculation for the MACD linear part - gave a downward trend (100 points down).
Calculation of the MACD histogram - gave a downward trend (100 points down).
The bottom line: the calculation of the last week of November in technical analysis showed that the for last week of the month the price will have a downward trend. However, the weekly schedule will answer this question definitively.
Fig. 2 (monthly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candle analysis - down;
- trend analysis - down;
- Bollinger lines - up;
Conclusion on the complex analysis - most likely, the bottom work.
The total result of calculating the candle of the EUR / USD currency pair on a monthly chart: the price will most likely have a downward trend with the absence of the first upper shadow (the first week of the month - the lower one) for the monthly black candle and the absence of the second lower shadow (last week is black).
The first lower target is 1.1420 (the retracement level of 38.2% is the blue dotted line).
GBP / USD pair
Trend analysis (Figure 1)
In October, the market moved down, reached the support line of 1.3026, and then went up. In November, the price will most likely continue to move up. A more accurately will show the complex analysis and further determine where the price will go next.
Fig. 1 (monthly chart).
Indicator analysis on the monthly schedule (Figure 2).
The system of indicators ADX (Figure 2) for a GBP / USD pair
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by trend type indicators.
Indicator MACD (period 5/8/13).
The linear part of the MACD indicator.
Fast line (signal) - a line of white color.
The slow line (main line) is the blue line.
The result for the linear part of the indicator MACD is an upward trend (100 points up).
Histogram of the MACD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is a downward trend (100 points down).
The grand total: the MACD indicator on the monthly chart gives a neutral trend.
Middle lines of the EMA.
On the weekly chart, the following midlines are used.
1 middle EMA line - color white (first shadow).
5 the middle line of the EMA - the color is red (the first shadow).
8 middle EMA line - the color is blue (trend of the week).
13 the middle line of the EMA - the color is yellow (the trend of the week).
21 middle EMA line - brown color (trend of the week).
At the last run 8, the middle EMA line (blue) is moving upward which is below the 13th EMA midline (yellow) that moved upwards and the signal is down.
At the last run 13, the middle EMA line (yellow) is moving upwards which is below the 21 middle line of the EMA (black) that moved downward and the amplification of the lower work signal.
The bottom line: the EMA mid-line system on the weekly chart gives a downward signal.
The probability distribution of the indicators is as follows:
- middle EMA lines - 24% down;
- MACD indicator (linear part) - 38% up;
- MACD indicator (histogram) - 38% down.
A summary of the indicator analysis: the price on the monthly chart should have a downward trend.
Calculation of the first shadow of the month (the first week) on a monthly chart.
Middle lines EMA 1/5/8 - the upper signal.
The indicator "three lines" (the direction of the lines of indicators CCI (5), RSI (5), stochastics with a period of 3/3/4) - the bottom signal.
Calculation of the RSI indicator system for the first tail is the upper signal.
The bottom line: the calculation of the monthly candle for the month of November for technical analysis showed that the price movement in the first week of September will be the top, but finally the weekly schedule will answer this question definitively.
Calculation of the second shadow of the month (last week) on the monthly schedule.
The calculation for the MACD linear part - gave an upward trend (100 points up).
Calculation of the MACD histogram - gave a downward trend (100 points down).
The bottom line: the technical analysis calculation of the last week of November showed that there is a tendency for the price in last week of the month, which will be determined by the weekly schedule.
Fig. 2 (monthly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
Conclusion on complex analysis is possible to move upward.
The GBP / USD pair on the monthly chart: the price will most likely to have an upward trend with the absence of the first lower shadow (the first week of the month is white) with a monthly white candle and the absence of a second upper shadow (last week is white).
The upper target is 1.3740.
