Technical Analysis for 15/12/2016
EUR / USD – EURO US DOLLAR
The Eurocurrency is still being traded in a controversial way. The narrow range stays. The news from the USA as well as from Germany, which would influence the price of the both currencies, are expected.
The bullish trend is prevailing in the market. The currency pair EUR / USD grew till the level 1,0650, but after the new sales wave came, the currency pair turned back to the level 1,0600. During the European session the pair stayed in the narrow range. During the American session the currency pair EURUSD was trying to grow.
The support is located at the level 1,0600, the resistance – at the level 1,0650.
MACD is located at the zero level. If it moves in a positive direction, that will indicate the strengthening of the sellers` positions. RSI stays neutral.
If the Euro manages to pass the level 1,0500 and moves downwards, it is possible that the currency pair EURUSD will drop till the level 1,0450. If the pair finishes the day session above 1,0650, it can grow further above the level 1,0700.
GBP / USD – BRITISH POUND DOLLAR
The British currency became weaker in relation to the US dollar. But very soon it got back its advantages and grew till the new maximum.
There are bullish moods in the market. The new interest for sales forced the prices to new maximum levels. The currency pair grew till the level 1,2700, but then in the middle of the European session it dropped till the level 1,2650. Bulls managed to recover the losses and turned the currency pair GBPUSD to the weekly maximum, the level 1,2700.
The support is at the level 1,2600, the resistance – at the level 1,2700.
MACD is dropping, while RSI stays in the neutral zone.
If the currency pair GBPUSD falls below 1,2600, we sell. The target is at the level 1,2500. If the currency pair starts growing, we can buy with the potential target at the level 1,2770.
USD / JPY – US DOLLAR JAPANESE YEN
The number of big enterprises in Japan during this year has grown from 6 till 10. This is the maximum increase during the same period last year.
The currency pair USD / JPY was being traded in a narrow consolidation range, under the recent maximum level. The American dollar is stable in relation to the Japanese yen, it stopped at the level 116,11.
The support is at the level 115,00, the resistance – at the level 116,00.
MACD is moving downwards, that indicates the weakening of the buyers` position. RSI left the overbought zone.
The interest to buy influenced the currency pair USDJPY. It grew till the recent maximum level 116,11. If the currency pair manages to pass this level, the next target will be 116,50. But there is still a possibility that the currency pair will drop till the level 114,00.