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Technical Analysis for 28/12/2016

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Technical Analysis for 28/12/2016

Technical Analysis for 28/12/2016
December 28
09:00 2016

EUR / USD – EURO US DOLLAR

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After Christmas the US dollar is growing in relation to the euro.

The currency pair EUR / USD keeps the bearish mood. The euro attempt to pass the level 1,0450 stayed the attempt.

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

MACD is at the zero level. If it starts falling that will indicate that the sellers` positions are strengthening. But if the indicator starts growing, this will be the indicator that the buyers have strengthened their positions. RSI stays in the neutral level.

If the currency pair EURUSD grows above the 1,0450 level, it will be moving upwards till the level 1,0500. But if the currency pair falls below 1,0350, the market will be controlled by the sellers.

As soon as the currency price passes the level 1,0400, the correction movement can be expected. If the pair passes the resistance level then the next target is at the level 1,0500.

 

GBP / USD – BRITISH POUND DOLLAR

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British banks were closed as the country celebrated Christmas. The pound was not able to recover in relation to the US dollar.

In the first half of the day the British currency  consolidated under the level 1,2300. Further, the currency pair GBP / USD started falling till the minimum levels of the last week, the level 1,2227.

The support is located at the level 1,2200, the resistance – at the level 1,2300.

MACD is falling, which indicates that the positions of sellers are strengthening. RSI stays in the oversold zone.

If the market keeps the bearish trend, the currency pair GBPUSD will drop below the level 1,2200. In such case the next target for sellers will be the level 1,2100.

 

USD / JPY – US DOLLAR JAPANESE YEN

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Bulls are in the market. The currency pair USD / JPY was being traded in the side range.

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

MACD is at the zero level. If the histogram moves downwards, it will indicate the strengthening of the sellers` positions. If the histogram passes in the positive zone, buyers will control the market.

RSI is in the neutral zone. The currency pair USDJPY is moving upwards not so confidently anymore.

The correction movement to the level 116,00 is very possible.

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2 Comments

  1. Mila
    Mila December 28, 12:44

    Widely believed that after Christmas holidays the market in Europe and America will be in a fever once again.

    Reply to this comment
  2. Polina Abramova
    Polina Abramova December 28, 13:03

    The currency pair EUR/USD is the most popular one. If you want to control its behavior, you should monitor all the important economic news and, of course, read the daily technical analysis, which really works, as for my experience.

    Reply to this comment

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