16 Sep

Forex Weekend Analysis on 16 September 2016

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Daily Technical Analysis on 16th September 2016

Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY.
EURUSD
A poor retail sales report little bit diminished the US dollar. Still, the growth of the euro was controlled by the weak reports in the EU. The US released Initial Jobless Claims report which comes in better than forecast. The pair stands in the mid of the consolidation range. The pair went rear & front throughout the course of the session on yesterday. 
 
The support level finds at 1.1200 together with the 50 and 100 EMAs gives a support for the gauge. The resistance comes at 1.1270 levels. The moving averages handled a moderately bullish shelf in the 4 HR chart. MACD indicator is at the centerline which enters the negative region that will hint sellers’ growing strength. If MACD comes back into the positive zone the buyers will take the market control. RSI remains neutral.
 
GBPUSD
 
The pound got blow forcing the seller’s after the BoE’s results the unmodified rates & policy. The controller highlighted that he was apt to lower the rates once more if the economy does not looks any descent progress in the closest future. Currently sellers have the chance to play. They are struggling for handle above the 1.3200 level. 
 
The value reached the 50, 100 and 200 EMAs in the 4HR chart. The 50-EMA is pointing downwards; the 100 and 200 Day EMAs remains neutral. The current resistance seems at 1.3360 levels, the support remains in 1.3200 levels. Decreased MACD is in negative region which indicates the sellers’ spot strengthening. Indicator RSI is surrounding the oversold region.
 
USDJPY
 
The yen little bit strengthened on the rear of the weaker US reports. Besides, traders favored safe capitals before of the BoJ and the Fed’s meeting the upcoming week. Following a brief consolidation throughout the Asian session the value suffered a short lived downside movement. Sellers were adept to force the price lower the 102.50 levels. The value found a solid support at the mark levels of 102.00 where the daily moving averages remained. 
 
The moving averages of 50, 100 and 200 stands neutral. The value is still struggling with the moving averages to reduce additional fall. The resistance levels at 102.50, the support stands in 101.40 levels. MACD indicator is at the center in position which enters the negative zone that will hint the sellers’ growing strength. If MACD comes back into the positive zone the buyers will take the market control. RSI remains neutral.
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