Daily Technical Analysis on 23rd September 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, XAUUSD.
The dollar declined on the rear of the Fed decision to hold unchanged its rate hike. Despite the fresh growth our picture is still bearish. The value remained in the downward channel. The pair cracked the 1.1200 level within one night and trended towards 1.1250 levels in the European session on last day. The moving averages of 50, 100 and 200 cramped and currently stand neutral.
The resistance comes in 1.1250 levels, the support remains at 1.1100 levels. MACD indicator is at the centerline which goes into the positive zone that will hint buyers’ growing strength. If MACD comes back into the negative zone the sellers will take the market control. Indicator RSI is in the overbought region.
The pound is in trade due to the risk appetite growth and among the dollar weakness against the board. The pair sustained with the recovery on yesterday. The value had been gaining the 2 session in a row. Buyers were adept to advance the price upwards through 1.3000 levels. The rally faded close to the level of 1.3100 where the pound had got a strong resistance. The sterling reached the bearish of 50-EMA and rebound.
The 50, 100 and 200 EMAs maintained their bearish trend. The resistance appears at 1.3100, the support seems in 1.3000 levels. MACD is in the negative region grew which believes the sellers’ positions weakening. RSI indicator jumped from the oversold region.
The dollar weakens across the yen when the US regulator made a conclusion to leave the rate unchanged. The value sharply cut down on day before yesterday and stays below the pressure on previous day. The pair got support levels at 100.40 where the downside pressure eased and the dollar was adept to regain.
The 50, 100 and 200 EMAs are directing downwards. The resistance levels at 101.40, the support levels at 100.40. Indicator MACD is in the negative zone decreased which sure the strength of sellers. RSI indicator remains within the neutral line. If the price smashes the 100.40 level the target will be the support level of 99.50. We do not ignore a short-term alteration towards 101.40 levels.
The yellow metal will strong among a weak dollar. The dollar weakened when the Fed called off on raising rates. Metal had good day and finished the day in green figures. Buyers smashed the resistance levels at 1330 on yesterday. The growth slowed down and the value traded over the 1330 levels on last day. The gauge headed away from the moving averages in the 4HR chart.
The 50, 100 and 200 EMAs are directing upwards in the 4HR timeframes. The resistance finds in 1340 levels, the support exists in 1330 levels. MACD is in positive grew which hints the buyers’ strength. RSI is surrounding the overbought zone. The pair may widen its growth towards 1340 levels.