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Technical Analysis for 13/01/2017

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Technical Analysis for 13/01/2017

Technical Analysis for 13/01/2017
January 13
09:00 2017

EUR / USD – EURO US DOLLAR

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The European currency stopped growing in relation to the dollar. That could not be avoided even though there was optimistic news from Europe.

When the trading started, the euro was moving upwards. During the Asian session the currency pair EUR / USD passed the level 1,0600 and directed to the level 1,0650. But the euro couldn’t keep its positions and after the start of the European session, the pair dropped again.

The support is at the level 1,0600, the resistance – at the level 1,0650.

MACD grew. This indicates that buyers are strengthening their positions.

RSI left the neutral zone and moved to the North.

The correction movement is still possible, though. It can start after the currency pair moves below the level 1,0600. If that happens, the currency pair will start moving downwards to the level 1,0500.

 

GBP / USD – BRITISH POUND DOLLAR

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Great Britain hasn’t had any news that would be able to support the British pound. The dollar is under pressure again as the future of the country stayed unclear even after the speech of Donald Trump.

The currency pair GBP / USD passed the level 1,2200 during the morning part of the session. During the European session the pair grew till the level 1,2300. After the level had been tested, the pair GBPUSD moved away to recover before a new rally. But in the second half of the European session the pound started losing all positions.

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

MACD grew, which indicates the sellers` positions weakening. RSI is moving upwards.

Even though the currency pair GBPUSD was trying to grow, but it still was traded within the descending channel. If te pair doesn’t manage to pass the 1,2300 level, it can fall again till the level 1,2200. If the pair manages to pass the level 1,2300, it will get the chance to grow till the level 1,2400.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The Japanese currency started a rapid growth while the dollar was falling after Trump`s speech. The Japanese currency, though, was supported by the positive fundamental data.

When the trading opened, the currency pair USD / JPY started falling. First, it fell till the level 115,00. At the start of the European session the pair had already dropped till the level 114,00.

The support is located at the level 114,00, which shows the strengthening of the sellers` positions.

MACD is moving down. This indicates that the sellers` positions are strengthening. RSI stays in the oversold zone.

If the pair USDJPY doesn’t pass the level 114,00, this can result in the development of the ascending trend. It is also possible that the pair will grow till the level 115,00. If the descending trend stays, the next target will be at the level 113,00.

 

The analysis has been prepared with the participation of the analytical department of the company HBC Broker.

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2 Comments

  1. Nelli
    Nelli January 13, 10:50

    According to trading data and analysts’ comments, the US dollar exchange rate against the Japanese yen and the euro is falling after Trump’s speech, as he did not provide clear details of the plan for the economic stimulus in the United States.

    Reply to this comment
  2. Brenda
    Brenda January 13, 13:49

    Market participants were disappointed with the results of the first press conference of Donald Trump because he didn’t raise the key points of his election program. As a result, the US dollar came under pressure, as the uncertainty associated with the implementation of his election promises hadn’t been declined.

    Reply to this comment

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