Dec
Daily Technical Analysis on 7th December 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
EURUSD
GBPUSD
USDJPY
The pair was neutral on yeaterday among a lack of any significant releases in Japan. The USA released some minor reports of Trade Balance & Factory Orders. Overall outlook was firmly bullish on previousday. The USDJPY stayed in an ascending channel, trading nearly its lower limit. The dollar wasn’t adept to post latest gains versus the yen but refused to declare. The pair extended its consolidation phase below the new highs at 114.80 levels & spent the full day around 114.00 levels.
XAUUSD
The yellow meatl was down & remained close to the 10-month low as the anticipations for a possible Fed interest rate hike sustained to weigh on the gold. The prices handled their neutral stance on last day. Having bounced from 1160 levels the metal moved to 1170 levels. The pair remained restricted within a tight trading range between levels to 1170-1175 throughout the day.
The metal stands under the moving averages in the 4HR chart. All moving averages pointed much lower. The resistance lies in 1180 levels, the support seen in 1170 levels. Indicator MACD stayed at the same level which confirms the seller’s spot stengthen. RSI indicator stays within the neutral zone. We might be selling the pair only if the value fell below 1170 levels. In this outlook the potential target was at 1160 levels.
Share This Post
Categories
Popular
Why we choose Forex Market?
Oct 06 , 2015
Forex, Commodity and Binary Trading Signals on 5th May 2016
May 04 , 2016
Forex Trading Terminologies
Oct 21 , 2015
Recent
Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017
Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017
Forex Weekly Technical Outlook on 12 JUNE 2017
Jun 12 , 2017
Archives
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
December 2015
November 2015
October 2015
September 2015