Home Market Analysis Forex Analysis Daily Forex Market Analysis for 17-12-2019

Daily Forex Market Analysis for 17-12-2019


Daily forex market analysis

EURUSD Analysis

The euro pair rose against the dollar as we expected and achieved the goal of the rise, which is to break the top of wave A, now, will the rise continue or will the rise end?

If the rise is already over, the high of 1.1199 becomes the difference between the rise and the fall.

since the prices below this level become bearish and the drop is confirmed by a bottom fracture of 1.1037

In the following chart, we show the movement of the husband more

EURUSD - تحليل سوق العملات اليومي ليوم 17-12-2019

GBP / USD pair

As we explained in the previous analysis on 16-12-2019 that the husband in the event of the stability of the summit becomes to decline and indeed the pair fell

Now, does the decline continue, the decline currently depends on the stability of the top of 1.3517 in the event of this level being stable, we expect the decline for the next period, but by breaking this level, the rise may continue and we can see 1.4000 prices on the pair

GBP USD chart on the 240-minute time frame

GBPUSD 1 - تحليل سوق العملات اليومي ليوم 17-12-2019


We expect the bearish scenario on the dollar pair to fail, so it is preferable to wait and achieve one of the following conditions until we confirm the decline

We wait for the upside and touching the downtrend, then reversing with a five-wave until we confirm the end of the rise and the beginning of the decline.

Or we wait for the uptrend to break and close the down trend

The graph of the Yen dollar pair on the four-hour time frame


Australian pair AUD / USD

We also expected the Aussie pair against the dollar and the rise was expected, but how will the rise continue after breaking the top of wave A as shown in the graph?

Now the rise depends only on the stability of the wave 2 bottom at 0.6798 prices, the stability of this level continues to rise, but with this level broken we expect more decline and may break the main bottom

The chart for the Australian AUD / AUD pair on the 60-minute time frame


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Hassan Hadaoui
Hassan Hadaoui
Writer and Economist

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