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Technical Analysis for 02/01/2017

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Technical Analysis for 02/01/2017

Technical Analysis for 02/01/2017
January 02
09:00 2017

EUR / USD – EURO US DOLLAR

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The currency pair EUR / USD started trading from the level 1,0550, within the descending channel. Though, one should expect the trend change and the growth of the pair EURUSD till the level 1,0580. If the currency pair passes this level, it will grow further till the level 1,0600.

Though, there is a probability that the pair will not pass the upper line of the channel. The potential target is at the level 1,0200.

 

GBP / USD – BRITISH POUND DOLLAR

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The currency pair GBP / USD completed the previous trading week at the level 1,1400. If the pair manages to climb above the upper level of the descending channel and if the quotations are above 1,2450, we can expect the further descending movement of the currency pair.

It is not excluded, though, that the pair GBPUSD will test the line of the ascending channel.

Further, though, the descending movement of the pair is again forecasted till the level 1,1400. If the currency pair manages to pass the level 1,2450, we shall expect the bullish trend.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The currency pair USD / JPY completed the previous trading week at the level 117,3.

Quotations continue falling within the bullish trend. The potential target is at the level 120. RSI indicates the probability that the currency pair USDJPY will test the lower line of the ascending channel. The quotations growth indicates that, too.

If the currency pair falls below 115,50, we shall expect the descending trend.

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2 Comments

  1. Ben
    Ben January 02, 13:01

    The first technical analysis of the new year should alert the traders not to hurry up with making a decision.

    Reply to this comment
  2. Natali Abramovich
    Natali Abramovich January 02, 17:57

    Let’s wait, the time will tell whether to buy or sell the currency pair GBP / USD

    Reply to this comment

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