Daily Technical Analysis on 14th September 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
The euro stands below the pressure after the negative Economic Sentiment in Germany for this month. The pair traded within a stiff range on last day. The value went rear & front between 1.1220-1.1240 throughout the day. The instrument remains over the moving averages in the 4HR chart. The 4HR charts looks that the value is right now struggle with a bullish 50-EMA. All moving averages continue a bullish slope & stay over the level 1.1200, adding further support to the value. The resistance seems in 1.1270 levels, the support remains in 1.1200 levels.
MACD indicator is at the centerline start at the negative region that will hint the sellers’ growing strength. MACD returns into the positive region the buyers will take the market control. RSI indicator remains neutral.
The pound mitigate on the poor than expected Consumer Price Index. The GBP had a negative day on yesterday. Following a brief consolidation at 1.3330 throughout the Asian session the sterling sustained moving lower in the European time, the day low was marked levels at 1.3225. The price cracks the 50-EMA and tested the 100-EMA in the 4HR chart. The 100-EMA is intersecting the 200-EMA upside direction. The current resistance finds at 1.3360 levels, the support comes at 1.3200 levels.
MACD indicator is in the negative area, which hints the sellers’ growth. RSI indicator is driving towards the negative region. All eyes are currently at the support level 1.3200. The pound could rebound the level. In this potential outlook buyers will advance the value towards the 1.3250 area. The pair may extend its downside trajectory towards 1.3100 levels if it smashed 1.3200 levels.
The dollar builds up against the board when the Fed official’s statement revived speculations above the probably rate hike this month. The pair was in buy trend on previous day. The dollar wipes out losses which it endures on last day. Buyers were adept to force the price towards 102.50 levels. The gauge returned over the 50, 100 and 200 EMAs in the 4HR chart. The moving averages remain neutral. The resistance remains at 102.50 levels, the support stands at 101.40 levels.
MACD remains negative which confirms the seller’s strength. RSI indicator bounces back from the oversold region. Bulls’ closest target stays at the same levels 102.50. Following crack the level the value might extend its growth towards 103.00 and additional out to 103.50 levels. In the outlook where sellers are rear the value will cracks 101.40 levels and leads to 100.40 levels.
Chances over the Fed’s upcoming monetary policy action stand a key explanation for the pair. The volatility over the issue counterbalance on the metal. The gold values below the 1330 levels. The day low was mark levels at 1321. The gold broke the moving averages down. The moving averages preserve a bearish slope. The resistance comes in 1330 levels; the support appears at 1316 levels. The yellow metal futures are below the pressure line. A solid breakdown and end under the level of 1320 might drive prices lower towards 1316 levels. Or else, the gold will grow through 1330 levels towards 1335 levels.