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Technical Analysis for 22/12/2016

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Technical Analysis for 22/12/2016

Technical Analysis for 22/12/2016
December 22
09:00 2016



There was no news from the Eurozone, which could have influenced the euro. In America, though, a report on the sales in the secondary accommodation market was published. The American currency left the maximum level and allowed the euro to recover its positions.

But the situation changed after a while. After a short pause by the level 1,0400, the currency pair EUR / USD started moving upwards to the level 1,0450. Further, the currency pair EURUSD tested the moving averages 50 and 100 but did not manage to break out through them. The currency quotations decreased and managed to recover just before the opening of the American session.

The support is located at the level 1,0400, the resistance – at the level 1,0450.

MACD is growing, hence, the sellers` positions are being weakened. RSI is in the overbought zone.

The ascending correction movement is expected. But that will happen only after the price passes the resistance level. If the price manages to pass the level, it will move up to the level 1,0450. After the currency pair EURUSD has this level done, it will start growing to the level 1,0500.




The report on the pure debt in the state sector influenced the British currency in a negative way. The US dollar continues strengthening its positions, which also influences the British pound in a negative way.

After the start of the European session the currency pair GBP / USD was under slight pressure. But later, the bearish mood was away. The currency pair GBPUSD consolidated at the minimum level 1,2317, but then it started moving in the reverse direction. The support is at the level 1,2300, the resistance – at the level 1,2400.

MACD stays at the same level. This is the evidence that the sellers` positions are strong. RSI stays in the overbought zone.

If the currency pair GBPUSD passes the resistance level 1,2400, it can change the movement direction to the ascending one. It may move to the level 1,2450 and further till the level 1,2500. Though,  the descending movement is more probable in the short-time prospective.




The differences in the monetary policy of the USA and Kapan are stimulating the sales of the Japanese currency. The descending movement of the currency pair USD / JPY was determined by the dollar weakening before Christmas and the New Year. It is connected with the profit fixation by investors.

The market is characterized by the bearish mood. The dollar left the maximum level 118,00 and tested the level 117,00.

The support is located at the level 117,00, the resistance – at the level 118,00.

MACD is falling. This indicates that the buyers` positions are being weakened. RSI left the overbought zone.

The currency pair USDJPY is expected to grow. The first target for the buyers is the level 119,00. The pair has been approaching this level recently, hence, here are chances that the currency pair will pass it.

Though, it is possible that due to the correction movement, the currency pair USDJPY will drop till the level 116,00.


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1 Comment

  1. Victor
    Victor December 22, 18:34

    The Eurozone doesn’t pamper us with the latest news. What is the reason for the euro strengthening? And how long can it keep its position?

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