Technical Analysis for 12/01/2017
EUR / USD – EURO US DOLLAR
The European currency and the US dollar are being traded without noticeable changes. There are no serious news that could influence any currency from the EUR / USD currency pair.
The euro continues dropping in price. The pair reached the level 1,0500. During the European session the pair speeded down. After it had passed the level 1,0550, the currency pair EURUSD dropped to the level 1,0500.
The support is located at the level 1,0500, the resistance – at the level 1,0550.
MACD continues moving downwards, which indicates the strengthening of the sellers` position. RSI left the overbought zone and started moving southwards.
The next target is at the level 1,0540 and further at the level 1,0400.
GBP / USD – BRITISH POUND DOLLAR
The British currency is still being traded under pressure. Still there are worries about Brexit and its possible consequences for the British economy.
The British pound was trying to recover during the Asian session, but it wasn’t able to resist for long. The currency pair GBP / USD stopped at the level 1,2200, but after testing this level, the pair dropped till the level 1,2100. The pound was trying to recover its positions again and compensate at least party its losses.
The support is located at the level 1,2100, the resistance – at the level 1,2200.
MACD dropped again and moved to the negative zone. RSI stays in the oversold zone.
Bears took control over the market. If the currency pair GBPUSD falls till the level 1,2100, then further the pair will be dropping till the level 1,2000.
USD / JPY – US DOLLAR JAPANESE YEN
The US dollar was trying to stabilize its positions and even move upwards.
The currency pair USD / JPY is being traded in the side range. During the Asian trading session the pair price changes haven’t increased 50 peeps each side. The price was growing till the level 116,43 and then was dropping again.
The support is at the level 116,00, the resistance – at the level 117,00.
MACD is growing that indicates the weakening of the sellers` positions.
RSI left the overbought zone.
If after the closing of the trading session the currency pair reaches the level 117,00 it will continue growing till the level 118,00. If that doesn’t happen, the pair will start moving downwards, first till the level 115,00, then till the level 114,00.
The analysis has been prepared with the participation of the analytical department of the company HBC Broker.