Technical Analysis for 18/01/2017

 Breaking News
  • Microsoft, Amazon and eBay are at record highs On Tuesday, securities of Microsoft Corp, Inc and eBay Inc broke records. The rush of investors’ demand for the shares of those companies involved in electronic commerce caused such...
  • Quarantine in Hong Kong is not for everyone Hong Kong is rescuing its stock exchange. In order to give life to the trading platform, the administration of the metropolis has shown flexibility concerning quarantine measures. So, Christopher Hui...
  • Economy of Japan demonstrates recession In the first quarter of this year, the economy of the Land of the Rising Sun dropped by 0.6% in monthly terms. The figures are not optimistic but are better...
  • Energy market news On Saturday, representatives of the countries included in the OPEC+ cartel managed to agree on the extension of the restrictions on oil production. It also became known that those countries...
  • Bentley fires employees in order to prevent losses in 2020 The Bentley brand has long been synonymous with luxury living. Unfortunately, the British automaker has to save because of a forced two-month break. The company’s CEO Adrian Hallmark said to...
Technical Analysis for 18/01/2017
January 18
09:00 2017



The dollar is dropping while the euro is stabilizing. Investors are waiting for the consumer price rate to be published. According to forecasts, in December it shall have positive results.

It is recommended to buy now. The currency pair EUR / USD is moving within the ascending channel. In the middle of the Asian session the euro grew and passed the level 1,0650. Further, the currency pair EURUSD  got to the level 1,0700 by the middle of the European session.

The support is located at the level 1,0650, the resistance – at the level 1,0700.

MACD is growing, hence, the sellers are strengthening their positions. RSI turned back to the overbought zone.

After the currency pair EURUSD passes the resistance level, we can expect its growth till the level 1,0750. The correction movement to the level 1,0650 and further to the level 1,0600 is also probable.




The expectation of Theresa May’s speech put the British currency under pressure. Even the increase of the consumer price rate could not provide a sufficient support to the British pound.

Bulls are taking the control over the market. During the Asian session the currency pair GBP / USD passed the level 1,2100 and tested the level 1,2200. During the European session the price stayed at the level 1,2200.

The support is located at the level 1,2100, the resistance – at the level 1,2200.

MACD has grown that indicated that the sellers are strengthening their positions. RSI still stays in the neutral zone.

If the currency pair GBPUSD manages to stay above 1,2200, we can expect the formation of the bullish movement, the currency pair will be growing till the level 1,2300.

If the level 1,2200 appears to be quite an obstacle, the pair may turn back to the level 1,2000.




The currency pair USD / JPY is being traded very indefinitely. The pair has tested the level 113,78 for several times, but without any result. If the pair USDJPY manages to pass this level, we shall expect its fast growth till the level 115,00. The potential target is at the level 118.00.


The analysis has been prepared with the participation of the analytical department of the company HBC Broker.

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment