Technical Analysis for 9/12/2016
EUR / USD – EURO US DOLLAR
Upon the decision of the European Central Bank, the interest rate will stay without changes.
Hence, on Thursday the trading was unpredictable. The currency pair EUR / USD continued moving upwards. During the early trading the currency pair passed the level 1,0750. After the pair EURUSD had tested the level 1,0800, it continued growing. Further, the currency pair got to the level 1,0850. But before opening of the American session, the currency pair changed the direction and dropped till the level 1,0650.
Hence, the support is located at the level 1,0600, the resistance – at the level 1,0650.
MACD is moving downwards, RSI moved away from the overbought zone. The further drop of the currency pair is expected till the level 1,0550.
GBP / USD – BRITISH POUND DOLLAR
The British currency got a wonderful stimulus for the growth, as the data on the accommodation balance was released. And the sterling was pushed to grow by the weakening of the dollar positions.
The bullish trend was in the market in the first half of the day. During the Asian session the currency pair GBP / USD moved away from the level 1,2600 and tested the level 1,2700. But this level became quite an obstacle on the way up for the pair GBPUSD.
Bullish moods are still in the market. The support level is at 1,2500, the resistance level is at 1,2600.
MACD stays at the zero level. If it starts falling, the sellers` positions will be strengthening. If MACD starts growing, sellers will control the market. RSI is falling.
The next target is 1,2700. If the pair doesn’t manage the target, then the currency will start falling till the level 1,2600 and 1,2550.
USD / JPY – US DOLLAR JAPANESE YEN
The positions of the Japanese currency are weaker in relation to the dollar. That was caused by the publication of the GDP of Japan, which was lower than forecasted.
The currency pair USD / JPY was being traded very unpredictable. The currency pair started falling in price and tested the level 113,00 during the Asian session. The price grew further, but during the European session the currency pair USDJPY was being traded above 113,00. The dollar passed the level 114,00 but could not move higher.
The support is at the level 114,00, the resistance – at the level 115,00. MACD is growing as well as RSI.
The main level now is the level 114,00. If the pair manages to pass it, further it will move to the level 115,00.