Technical Analysis for 27/12/2016
EUR / USD – EURO US DOLLAR
The publication of positive reports from the EU have not had any support for the euro. Germany can boast with the increase of the customer capital. Expenses per customer are increasing in France .
The euro recovered its positions during the Friday session, but the main number of investors left the market just to celebrate the Christmas. Hence, the market had just a very low level of liquidity for the currency pair EUR / USD.
The support is at the level 1,0400, the resistance – at the level 1,0450.
MACD is in the neutral zone. If it returns in the negative sector, this will indicate the strengthening of the sellers` position. If the indicator moves in the positive zone, it will indicate that the buyers have a leadership now. RSI stayed in the neutral zone.
Bears are ruling the market. If the price of the currency pair EURUSD consolidates below 1,0400, its further descending movement can be expected till the level 1,0350. But if the currency pair starts growing, it can grow up to the level 1,0450. The further target will be 1,0500.
GBP / USD – BRITISH POUND DOLLAR
The VAT data from Britain was very optimistic, but the British currency hasn’t used that support.
The currency pair GBP / USD was being traded in the descending channel. The currency pair passed the level 1,2300 and moved down. This was the proof of the bearish mood in the market. Further, the currency pair GBPUSD dropped till the daily minimum – the level 1,2250 during the European session .
The support is located at the level 1,2200, the resistance – at the level 1,2300.
MACD stayed at the previous level. This indicates the weakening of the sellers` positions. RSI stays in the oversold zone.
We can forecast two possible options of the pair movement: the price of the currency pair may drop below 1,2250 and will cause a new sales wave.
This can force the pound to move even lower, till the level 1,2200. Further, the targets are at the levels 1,2150 and 1,2100.
USD / JPY – US DOLLAR JAPANESE YEN
In the end of the week Japan was celebrating the birthday of their emperor.
All markets and stock exchanges were closed. Before Christmas the investor are closing all short-time positions for the American dollar.
The currency pair USD / JPY is consolidating with the intention to drop. Bears are ruling the market.
The support is at the level 117,00, the resistance is at the level 118,00.
MACD is at the zero level. If the histogram moves down, this will indicate the sellers` strengthening. Though, if the histogram turns back in the positive zone, the control of the market will pass to its owners. RSI stays neutral.
The currency pair USDJPY is moving to the level 117,00. Then the attention of traders will be concentrated at the level 116,00.