Technical Analysis for 2/12/2016
EUR / USD – EURO US DOLLAR
The data, published yesterday, indicated the growth of the business activity in the EU. According to the reports, published in the USA, the number of Americans who applied to receive the unemployment benefit has grown.
That could have made a negative influence on the US dollar, but the price growth for crude oil corrected the dollar price in a positive way. The currency pair EUR / USD is located at the support level, 1,0600. The euro moved to 1,0650. At the start of the European session the price was higher that 1,0600.
Bears are ruling the market. The support is at the level 1,0600, the resistance – at the level 1,0650. МACD still stays at the zero level. RSI is in the neutral zone. It is reasonable to open short-time deals. If the situation stays without changes, the currency pair EURUSD is risking to drop till the level 1,0550.
GBP / USD – BRITISH POUND DOLLAR
The pound grew in comparison to the dollar on Thursday. That happened due to the short-time correction of the dollar price. Bulls are becoming more confident. The British pound continues renewing its positions after its price dropped till 1,2400. During the start of the trading session the currency pair GBP / USD passed the level 1,2500 and continued growing. Before the opening of the American session, the currency pair GBPUSD grew till the level 1,2600.
The support is located at the level 1,2600, the resistance – at the level 1,2700. MACD grew significantly that indicates the strengthening of the sellers` position. RSI is in the overbought zone, its growth is expected.
It is still possible that the price will fall till the level 1,2500.
USD / JPY – US DOLLAR JAPANESE YEN
The American currency has been traded at its maximum level for the last 9 months. The optimistic fundamental data from America provided support for the US dollar. The yen, in its turn, is supported by the positive data about the business activity in Japan.
Bulls are still leading the market, though now with less confidence. The currency pair USD / JPY has stayed by its maximum during the whole day. The ascending movement stopped at the level 115,00. Further, the currency pair USDJPY dropped till the support level 114,00.
Moving averages almost haven’t changed their positions. The support stayed at the level 114,00, the resistance – at the level 115,00. MACD stayed at the previous level. RSI stays in the overbought zone. The market is being ruled by bulls. That can cause the growth of the currency pair USD / JPY till the resistance level 115,00. Further, the currency may grow till the level 116,00.