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Technical Analysis for 06/01/2017

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Technical Analysis for 06/01/2017

Technical Analysis for 06/01/2017
January 06
09:00 2017

EUR / USD – EURO US DOLLAR

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The currency pair EUR/USD met the European session with the growth. The price grew till the level 1,0574, further it was under the influence of bears.

After that the currency pair started dropping in price. To the middle of the European session the currency pair tested the level 1,0550. Before the opening of the American session, the currency pair EURUSD continued dropping till the level 1,0450.

The support is at the level 1,0450, the resistance – at the level 1,0500.

MACD moved to the positive zone; if the histogram stays there, the positions of sellers will stabilize. RSI moved away from the overbought zone.

Bears are controlling the market. Most likely, the currency pair continues moving within the descending trend till the level 1,0450 and further till the level 1,0400. There is a possibility that the ascending trend would develop till the level 1,0650.

 

GBP / USD – BRITISH POUND DOLLAR

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The demand for the pound grew on Thursday. The US dollar is under pressure due to the publications of FOMC protocols. News about the economy expanding came from Britain, which also influenced the British currency in a positive way.

The recovery of the British currency stopped at the level 1,2361. The market changed for the bearish. By the end of the Asian session the currency pair GBP / USD had dropped till the level 1,2269.

After the currency reached its minimum, the sellers managed to direct it to the level 1,2300.

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

MACD is at the zero level. If the histogram moves in the negative zone, the sellers` positions will be strengthening. If the indicator moves in the positive zone, the buyers will control the market. RSI is in the neutral zone.

The currency pair GBPUSD moves within the bearish trend. The next target for the sellers is 1,2250 and 1,2200.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The risky moods of investors aren’t too active due to the indefinite policy of Trump and the increase of the FRS interest rate.

During the Asian session the currency pair continued dropping. At the level 116,00 the descending trend was over. The minimum was at the level 115,60, further the currency pair USD / JPY started moving upwards and compensating losses.

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

MACD moved in the negative zone. RSI is in the overbought zone.

As soon as the currency pair USDJPY passes the level 117,00, we can expect its full recovery. Further the price will move to the levels 118,0 and 119,00.

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2 Comments

  1. Anfisa
    Anfisa January 06, 11:08

    Despite being often accurate, the technical analysis is only in the nature of recommendations. You should also rely on your knowledge and experience

    Reply to this comment
  2. Ruslan Obod
    Ruslan Obod January 06, 13:32

    Market participants have focused on the publication of FOMC protocols, and for good reason.

    Reply to this comment

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