Stock market quotes, forex, financial news, forex tools –

Weekly Forex Forecast for 5 – 9 December 2016

 Breaking News
  • Global demand for oil grows The International Energy Agency (IEA) has published a very interesting study. So, in the next five years, global oil demand will grow about 1 million b/d every year. This means...
  • Tesla to build its fourth factory Elon Musk said that the company was planning to build the first plant in Europe. The German capital has been chosen for this purpose. It will be the fourth plant...
  • Facebook Pay is new payment system of famous social network The well-known company Facebook has announced the launch of its own electronic payment system Facebook Pay. Through the company’s official blog, we have found out that the service will operate...
  • Amazon to open a new supermarket chain in the States Amazon, the largest US online retailer, already owns several supermarket chains. The first of them called Whole Foods was purchased in 2017 and cost $ 13.7 billion. The chain specializes...
  • Energy Market News Today, at 8 a.m. Moscow time, Brent crude futures rose $ 0.14 (or 0.23%) – to $ 62.32 per barrel. We recall that yesterday the asset price lost 0.53% ($...

Weekly Forex Forecast for 5 – 9 December 2016

Weekly Forex Forecast for 5 – 9 December 2016
December 05
10:00 2016



The data of the economic development of the USA are better that it has been forecasted. Though, this hasn’t influenced  the currency pair EUR / USD much. The Euro is under pressure of the Italian referendum. Matteo Renzi, Italian Premier Minister, is going to leave his position. Hence, the power in the land can be taken by politicians, who are sceptical about the European Union and Italian participation in it.

Bears did not manage to handle the level 1,0500. The currency pair EURUSD has just tested the trend line. Most likely, we can expect the further growth of the currency pair.

The next target is at the level 1,0800.



The currency GBP / USD is moving upwards. Comments of a British minister definitely influenced the British currency in a positive way. The British government is ready to make payments in the budget of the EU in exchange to the access to the European markets.

The British pound passed the level 1,2600. RSI is at the resistance level. This limits the further growth of the British currency. According to the forecast, the currency GBPUSD will test the level 1,2800, and then we shall expect correction movement within the ascending channel.



The price increase for crude oil influences the Japanese currency in a negative way. Though, the currency pair USD / JPY stays in the ascending channel.

Support is at the level 113,00. Resistance is at the level 114,00. MACD is moving downwards. Sellers` positions are becoming weaker.

The correction movement of the currency pair USDJPY is in the air. If the currency pair continues growing, it can reach the level 115,00. After that it is going to drop to the level 112,00.

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment