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Technical Analysis for 21/12/2016

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Technical Analysis for 21/12/2016

Technical Analysis for 21/12/2016
December 21
09:00 2016

EUR / USD – EURO US DOLLAR

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The American currency is being traded in a positive way. The speech of the FRC head made a positive influence on the  dollar, as now investors are expecting  the change of the monetary policy. The euro is losing its positions, even though the positive data on the manufacturing prices in Germany was published .

The currency pair EUR / USD made a slight effort to recover its positions, but did not manage to grow above 1,0400. Moreover, the currency pair EURUSD did not manage to stabilize even at that level.

Before the opening of the American session, the currency pair dropped till the level 1,0350, and during the American session the pair tested that level.

The support is at the level 1,0350, the resistance – at the level 1,0400. MACD stays without changes. This is the evidence that the sellers  positions are strong. RSI stays in the overbought zone with the intention to fall.

If the trading session closes at the level 1,0300, we can expect the price drop to the level 1,0250.

 

GBP / USD – BRITISH POUND DOLLAR

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The American currency is still under demand after the FRS head announced that the FRS was going to keep the percent rate.

During the Asian session, the currency pair GBP / USD did not manage to pass the level 1,24. The pound reached the daily maximum – the level 1,2408, but after that the movement stopped.

During the European session the trading volumes increased and the sterling fell even lower, till the level 1,23.

The support is at the level 1,2300, the resistance – at the level 1,2400.

MACD dropped. RSI is in the overbought zone, intending to fall.

The currency pair GBPUSD stabilized at the level 1,23, but if the pair manages to pass this level, it will continue falling to the level 1,22.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The Japanese currency weakened after the National Bank of Japan announced that there would be no change of the monetary policy.

The currency pair USD / JPY grew from the level 117,00 till 118,00 during the European session and tested the level 118,00 before the opening of the American session.

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

MACD stays without changes. RSI is moving upwards. Both indicators show the strengthening of the sellers` positions.

If sellers continue controlling the situation, the currency pair USDJPY will pass the level 118,00 and approach the level 119,00.

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1 Comment

  1. Catherine Miller
    Catherine Miller December 22, 16:23

    Thanks for the accurate technical analysis, it really works. Now it’s important to make the right choice and monitor the statements of the FRS as its decision influences the price of the US dollar and not only it.

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