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Technical Analysis for 19/12/2016

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Technical Analysis for 19/12/2016

Technical Analysis for 19/12/2016
December 19
09:00 2016

EUR / USD – EURO US DOLLAR

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Bad news regarding the euro comes again from Europe. Shortening of the profitability of the trading balance, drop of export volumes and the growth of import volumes influence the European currency in a bad way.

On Friday the previous week, the euro managed to recover. The currency pair EUR / USD grew till the level 1,0450. But the currency pair did not manage to stay at that level. The price changed the direction and dropped below 1,0450.

The support is located at the level 1,0400, the resistance – at the level 1,0450.

MACD is growing. This indicates that the sellers` position is improving. RSI stays in the overbought zone. Most likely, it will grow.

The inability of the currency pair EURUSD to recover is influencing the market in a negative way. The potential targets are at the levels 1,0400 and 1,0350.

 

GBP / USD – BRITISH POUND DOLLAR

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The representatives of the English regulator had a meeting on Wednesday, but this meeting hasn’t influenced the monetary policy of the European Central Bank. The percent rate stayed at the level 0,25%.

The temporary recovery of the British pound allowed the British currency to compensate the losses partly. Though, the dollar keeps strong positions.

Hence, the recovery of the British currency was short-time over a week.

The support is located at the level 1,2400, the resistance – at the level 1,2500.

MACD is growing that indicates that the sellers` positions are strengthening. RSI stays in the oversold zone.

The price of the currency pair GBP / USD can stabilize under the level 1,2400. Further, the currency pair GBPUSD can continue falling to the level 1,2300. Though, if the pair manages to break out through the level 1,2400, it can grow till the level 1,2500.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The currency pair USD / JPY is characterized by bullish moods. The currency pair was being traded by the 10-months maximum. On Friday it grew till the level 118,00.

Further, the currency pair USDJPY stabilized above the moving averages.

The bullish trend is still in the market.

The support is located at the level 117,00, the resistance – at the level 118,00.

MACD is falling. This indicates that the positions of sellers are strengthening. RSI stays in the overbought zone.

After the breakout of the level 118,00, the price continued growing till the level 119,00. If the currency pair doesn’t manage to break out above the 118,00 level,  it can fall till the level 117,00 and test the level 115,00.

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1 Comment

  1. Phelix Gray
    Phelix Gray December 19, 20:19

    The technical analysis regarding the currency pairs EUR/ USD and USD/ JPY is absolutely true, as usual. Thanks for the useful information. I always follow your advice!

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