Technical Analysis for 29/12/2016
EUR / USD – EURO US DOLLAR
The American currency is strengthening its positions. The decision of the FRS of the USA to change the interest rate and the promise of Donald Trump to revitalize the economy both influence the US dollar in a positive way.
At the start of the trading session the currency pair EUR / USD fell till the level 1,0450. Then the sellers removed the currency pair even further, till the level 1,0400.
The support is located at the level 1,0350, the resistance – at the level 1,0400.
MACD stays in the central position. RSI left the neutral zone and started moving downwards. This is an indicator that there will be a strong descending impulse.
If the currency pair EURUSD consolidates below the level 1,0450, the ascending movement will continue untill the currency pair reaches the level 1,040, and then – 1,0350.
GBP / USD – BRITISH POUND DOLLAR
The indefinite situation about Brexit influences the British currency in a negative way. The report about the shortening of the mortgage loans made the influence stronger.
The currency pair GBP / USD was trying to pass the level 1,2300, but without any result. The risk of developing a descending trend is very high, as the dollar is strengthening its positions in relation to all currencies.
The currency pair GBPUSD approached the support level at 1,2200.
The support is located at the level 1,2200, the resistance – at the level 1,2300.
MACD stays in the previous level. This indicates that the sellers are strengthening their positions. RSI stays in the overbought zone.
It is expected that the currency pair GBPUSD continues falling till the level 1,2200 and then lower till the level 1,2150.
USD / JPY – US DOLLAR JAPANESE YEN
The economic news from Japan attracted the attention of investors. The industrial growth of the country hasn’t reached the forecasted level, though sales indicators have compensated the situation a little bit. Such indefinite situation influences the Japanese currency in a negative way. All this happens while the US dollar is growing in relation to all currencies.
The dollar left the minimum level at 117,00 and started growing. The currency pair USD / JPY achieved the monthly maximum level.
The support is located at the level 117,00, the resistance – at the level 118,00.
MACD is at the zero level. RSI left the neutral zone and is moving in the north direction.
There is a probability that the currency pair USDJPY will grow till the level 118,00. Then the way to 119,00 will be open.