Technical Analysis for 30/11/2016
The dollar is strengthening its positions in comparison with the euro. On Tuesday, the currency pair USD / EUR was being traded rather peacefully. The pair grew till the level 1,0700, then dropped.
After the rapid growth, the euro fell till the support level, 1,0550, where the currency recovered. Though, at the level 1,0600 the currency stopped growing again. The pair EURUSD stopped at the level 1,0600, and there it stayed till the European session was closed. During the American session quotations for the euro dropped drastically. The price fell below the moving averages.
Support is located at the level 1,0550, resistance – at the level 1,0600. MACD is at the zero level. If it moves downwards, that will indicate the strengthening of the sellers` position. RSI is still in the neutral zone. Technical indicators show that bears will rule the market. The currency pair EUR / USD can drop till the level 1,0500.
GBP / USD – BRITISH POUND DOLLAR
The sums of loans to private individuals have grown more than it was forecast. This news boosted GBP. On Tuesday, the sterling was being traded at the level 1,2400. With this level the currency pair GBP / USD started its day. Before the start of the European session the price grew drastically. Though, the upper channel line stopped the bullish movement. Support is at the level 1,2400, resistance – at the level 1,2500. MACD stays at the zero level. If it moves downwards, it will signal about the strengthening of the sellers` position. RSI hasn’t moved from the neutral zone.
Most likely, the sterling will stay in the present range. If the currency pair GBPUSD falls below 1,2400, the next target may be the support level 1,2300. If the pair manages to test the resistance level 1,2500, then it can continue growing till 1,2600 level.
USD / JPY – US DOLLAR JAPANESE YEN
The currency pair USD / JPY continued trading in the ascending range. The indicators about the households expenditures upset investors. The Japanese yen is under pressure.
On Tuesday, the bullish movement was observed. The currency pair USDJPY tested the lower line of the ascending channel and continued growing. The level 112,00 was done. Further, the currency pair USD / JPY grew till 113,00. Before the opening of the American session it tested this level. Soon after that the pair grew more and got to the level 114,00.
Support is at the level 113,00, resistance – at the level 114,00. MACD is growing, hence, the buyers` positions are strengthening. RSI is growing, too. If the currency pair manages to stay above 113,00, then soon it shall grow till the level 114,00.