13
Oct
Daily Technical Analysis on 13th October 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY & XUUSD.
EURUSD
The pair traded lower on the rear of the renewed speculation that the Fed will hike the rate this December. The euro depressed despite positive ZEW Surveys. The euro stays vulnerable on last day. The single European currency extended its losses under the level of 1.1070 and surrounded the lowest level since 27 July this year.
The 50, 100 and 200 EMAs widen their decline, around the 1.1150 levels now. The 50 and 100 EMAs intersect the 200-EMA downside in the 4HR chart. The resistance remains in 1.1070, the support finds in 1.1000 levels. MACD stands in the negative zone histogram decreased which hints the seller’s power. Indicator RSI held close to the oversold area. The EURUSD outlooks are oversold in short term.
GBPUSD
The pair was able to strengthen when the UK PM-Theresa May’s allowed the Parliament to vote on her plans to Brexit. Following a short-lived recovery throughout the Asian session the pound comes back into a sell-off being unable to regain 1.2300 levels. The level 1.2300 ignored the value downwards. The pair broke 1.2200 levels and headed lower towards 1.2100 levels.
The 50, 100 and 200 EMAs accelerated reduce. The resistance seems at 1.2200 levels, the support lies at 1.2100 levels. The MACD histogram decreased which hints the buyer’s spot weaken. RSI indicator is holding close to the oversold region. A bearish tone abounds in the 4HR chart. We consider selling the pair until it remains under the level of 1.2470. The bearish phase is over in the daily close level now.
USDJPY
Haruhiko Kuroda confirmed on Wednesday that the controller was ready to ease its policy if require. Following a recovery during the Asian session the pair stabilized above the level of 103.50 on yesterday. The physiological level of 104.00 turned out to be a tough job to break. There have been two attempts to crack it and both of them lost. The USDJPY stays above the 50, 100 and 200 EMAs in the 4HR chart. The moving averages decelerate down their growth, staying over the 102.50 levels.
The resistance currently stays in 104.00 levels; the support comes at 103.00 levels. Indicator MACD is in the positive zone grew which hints the buyer’s support. RSI oscillator jumped upwards. However, buyers plan to retake the 104.00 level. A clear crack over the level will drive the pair towards the previous high at 104.30 levels. Conversely, a move under the level of 103.50 shall weaken buyers’ spot. The pair will decrease towards the mark level of 102.80.
XAUUSD
Gold values little bit strengthened on yesterday supported by US rate hike anticipations and FOMC minutes. In the 4HR chart for the pair shows a moderate bearish potential. The metal failed to reclaim the resistance level of 1260 and reduced towards the psychological level of 1250. The yellow metal futures jumped lower among broad-based dollar strength.
The 50, 100 and 200 EMAs lead downwards in the 4HR chart. The resistance lies in 1260, the support appears in 1250 levels. Indicator MACD stands in the negative zone grew which hints the seller’s spot weakening. RSI indicator stands close to the oversold area.