Technical Analysis for 26/12/2016
EUR / USD – EURO US DOLLAR
The currency pair EUR / USD is moving within the descending trend. The pair quotations tested the resistance level 1,0510, but did not manage to pass it.
The further falling of the currency pair EURUSD is forecasted. The next target for the currency pair is at the level 1,0250.
RSI also indicates the further descending movement of the currency pair EUR / USD. If the pair manages to pass the level 1,0520, then we can expect a strong ascending trend with testing the level 1,0740.
Hence, the currency pair may fall to the level 1,0250 after it reached the resistance level and the upper line of the descending channel.
GBP / USD – BRITISH POUND DOLLAR
The currency pair GBP / USD is moving within the descending trend. The next target is 1,21. If the currency pair manages to pass it, the pair will continue growing till the level 1,18.
If the quotations of the currency pair GBP / USD grow and manage to get to the level 1,2340, we shall expect the return of quotations within the ascending channel.
Hence, the currency pair continues falling till the next target – the level 1,21. If the pair manages to pass the lower line of the ascending channel, it will be able to change the movement to the ascending.
USD / JPY – US DOLLAR JAPANESE YEN
The quotations of the currency pair USD / JPY are still influenced by the bearish trend. RSI indicates that the currency pair may pass the line of the ascending trend. This makes possible the option that the currency pair USDJPY will develop an ascending correction movement.
The main option is testing the lower channel line and the growth of the currency pair USDJPY. The next target is at the level 119. If the currency pair manages to pass the 119 level, it will continue growing.