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Technical Analysis for 09/01/2017

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Technical Analysis for 09/01/2017

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

EUR / USD – EURO US DOLLAR

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After the report publication from Germany, which showed that the industrial orders amount had decreased,  the euro dropped in price.

Bulls still manage the market. The euro faced resistance at the level 1,0600 and moved away.

The currency pair EURUSD dropped during the Asian session. During the European session the currency pair EUR / USD was trying to recover its positions. But at the start of the American trading session the pair again dropped.

The support is located at the level 1,0550, the resistance – at the level 1,0600.

MACD is growing, this indicates the strengthening of the sellers` positions. RSI stays in the overbought zone.

If the currency pair manages to pass the level 1,0650, then the ascending movement is expected till the level 1,0700.

 

GBP / USD – BRITISH POUND DOLLAR

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Great Britain hasn’t published any news that could affect the British currency. Though, the indicators of the US trading balance provided support to the American currency.

During the Asian session the British pound grew till the level 1,2430, but soon after that it stopped the ascending movement and started dropping.

During the European session the currency pair GBP / USD moved up and down. The pair was traded in a very low range.

The support is at the level 1,2300, the resistance – at the level 1,2400. MACD is moving downwards, RSI stays in the overbought zone.

If the currency pair manages to pass the resistance level 1,2400, further it will start recovering till the levels 1,2450 and 1,2500. If the currency pair doesn’t manage to pass the resistance level, it can drop to the level 1,2200.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The critical position of Donald Trump to the automotive campaign influenced Japanese currency in a very negative way.

Bulls are in the market. The currency pair is being traded above the trend line. The pair USD / JPY reached the psychological level 115,00. Further the US dollar recovered its positions and moved the currency pair USDJPY to the level 116,00. At the level 116,37 the growth stopped. Before the start of the American session the currency pair dropped again to the level 116,00.

The support is located at the level 116,00, the resistance – at the level 117,00.

MACD is growing, RSI stays in the overbought zone.

It is possible that the currency pair continues dropping till the level 114,00.

But also there is a probability that the currency pair will renew its bullish movement and grow till the level 117,00.

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2 Comments

  1. Lora
    Lora January 09, 10:44

    Can we hope for the British pound recovery, or it’s better to sell the currency now?

    Reply to this comment
  2. Alex
    Alex January 09, 12:40

    Recently, the auto industry regularly receives warnings from Donald Trump that sounds like threats. However, Toyota became the first foreign company on which this has affected. As the result, the Japanese yen has fallen!

    Reply to this comment

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