For the EUR / USD pair, the first upward target is 1.2092.
For the GBP / USD pair, the upper movement in the ascending channel with the target 1.3870 (white thick line).
EUR / USD pair
Trend analysis (Figure 1)
In November, the market moved up and closed slightly below the recession level of 76.4% at 1.1968. Price in December may continue to move up. A more complex analysis will show more accurately where the price goes next.
Fig. 1 (monthly chart).
Indicator analysis on the monthly schedule (Figure 2).
Indicator system 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).
At the last day's closed candle.
The property calculation of the RSI indicator (5) gives a downward trend.
The property calculation of the RSI indicator (8) gives a downward trend.
The bottom line: the RSI indicator system gives a downward trend.
The calculation of the CCI indicator 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) is a neutral signal.
Calculation of the RSI indicator system for the first tail is the bottom signal.
Result: the calculation of the monthly candle on technical analysis for the month of November showed that the price movement in the first week of December will be determined by the weekly schedule.
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 December on technical analysis showed that the price will have a downward trend at the last week of the month. Finally a one-week schedule will answer this question definitively.
Fig. 2 (monthly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - down;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
Conclusion on the complex analysis - the bottom work will mostly move.
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) because of the monthly black candle and the absence of the second lower shadow (last week is black).
The first lower target is 1.1686 (the support line is a white bold line).
GBP / USD pair
Trend analysis (Figure 1).
The market in November broke away from the support line moved up reaching a recoil level of 76.4% at 1.3501. In December, the price will most likely continue to move up. A more accurate will show the complex analysis where the price will further go next.
Fig. 1 (monthly chart).
Indicator analysis on the monthly schedule (Figure 2).
Indicator system ADX (Figure 2) for the pair GBP / = USD.
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 MACD indicator 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) moved up that is above the 13th EMA midline (yellow), which moved upwards and the signal is up.
At the last run 13, the middle EMA line (yellow) moved up that is below the 21 middle line of the EMA (black), which moved downwards and weakens the signal of the top work.
The bottom line: the EMA middle line system on the monthly chart gives an upward signal.
The probability distribution of the indicators is as follows:
- average EMA lines - 24% up;
- MACD indicator (linear part) - 38% up;
- MACD indicator (histogram) - 38% down.
The grand total: the price on the monthly chart should have a weak upward trend, according to the indicator analysis:
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) is a neutral signal.
Calculation of the RSI indicator system for the first tail is the bottom signal.
The bottom line: calculating the monthly candle for the month of November for technical analysis showed that the price movement in the first week of September will be lower. 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).
Result: the calculation of the last week of November for technical analysis showed that the price will have a tendency at the last week of the month, which will be determined by the weekly schedule.
Fig. 2 (monthly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - down;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
Conclusion on complex analysis is possible upward.
The GBP / USD pair on the monthly chart: the price will most likely have an upward trend with the presence of the first lower shadow (the first week of the month is black) with a monthly white candle and no second upper shadow (last week is white).
The upper target is 1.3870.
