Technical Analysis for 20/01/2017
EUR / USD – EURO US DOLLAR
The European regulation body kept the interest rate at the same level. Deposit account rates also stayed the same. The key event is the inauguration of Donald Trump.
After the currency pair dropped below 1,0650, it stopped the descending movement. During the Thursday trading session the European currency compensated the major part of the losses. The pair EURUSD passed the level 1,0650 and moved to the level 1,0700. But soon after that the ascending movement was over and the pair dropped again till the level 1,0650.
By the opening of the American session the currency pair EUR / USD passed the level 1,0650 and tested the level 1,0600.
The support is located at the level 1,0650, the resistance – at the level 1,0700.
MACD is falling, RSI is in the neutral zone.
The market is being controlled by bears. If the pair moves above the level 1,0650, the next target will become 1,0600 and further the 1,0550 level.
GBP / USD – BRITISH POUND DOLLAR
Theresa May agreed that Brexit was a complicated procedure but that was the only good way for Great Britain.
The British currency continued its growth on Thursday. The currency pair GBP / USD grew till the level 1,2250. Further the pair GBPUSD dropped till the level 1,2250. Then the pair changed the movement direction again and grew to the level 1,2300 and then to the level 1,2400.
During the American session the interest to buy was over. The price again started moving downwards.
The support is located at the level 1,2300, the resistance – at the level 1,2400.
МACD is growing. RSI moved in the overbought zone.
The British currency is still under pressure, hence, in the risk zone. The level 1,2400 is a serious obstacle for moving upwards. If the price drops below 1,2300, its further dropping to the level 1,2200 is expected. If the pair manages to pass the level 1,2400, it will grow till the level 1,2450.
USD / JPY – US DOLLAR JAPANESE YEN
The American dollar was greatly supported by strong reports from the USA, while the yen is falling in price.
The currency pair USD / JPY is being traded in a short-term descending channel. After the pair tested the level 115,00, it stopped growing. Traders were making efforts to pass this level but without result.
During the American session the wave of interest to sell supported the US dollar. The currency pair USDJOY tested the level 115,00.
The support is located at the level 114,00, the resistance – at the level 115,00.
MACD is growing, hence, the control of sellers in the market is being weakened. RSI stays in the overbought zone.
If the pair manages to pass the level 115,00, it will continue growing till the level 116,00.