Daily Technical Analysis on 13th December 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
The euro got some positive among a dollar weakness & risk-off sentiment in the market yesterday. Trader’s takes hold position before the Fed meeting on Tomorrow. The pair remained towards the downwards on start of the week. The value rebound from 1.0520 levels & rallied towards 1.0605 levels. Buyers smashed the level & long their recovery towards 1.0652 levels.
The price tested the 100-EMAs in the 4HR chart. In the meantime, the moving averages handled their bearish slope. The resistance finds in 1.0652 levels, the support comes in 1.0603 levels. MACD stayed at the same level which gives the strength of sellers. RSI pointer moves into the neutral region.
The dollar undermined across the board. Immobile, the greenback remains at latest highs among the traders self-assurance that the FED will hike the rates. The pound stayed weak against the US dollar, but creates enough support around 1.2601 levels handle which restricted its shortcoming instability. We consider various buying interest exist just about 1.2555 levels. Buyers made an effort to get well & cracked the 1.2601 levels but lost to extend their growth & drift above the broken level up to the US session opening.
In the 4HR chart the value tested the 50-EMAs. The price stayed between the 50 & the 100 EMAs in the 4HR chart. All moving averages handled their bullish slope. The resistance stands at 1.2703 levels, the support appears at 1.2602 levels. Indicator MACD stayed at the same level which confirms the seller’s spot strength. RSI moved upside direction.
The risk-on outlook among OPEC oil output deal & the firm potential of the Fed rate-hike action weighed on the safe-haven yen on last day. Even the positive Machinery Order in Japan did slightly to promote the JPY. The pair maintained its proposal manner on yesterday. The value rebound from 116.01 levels & comes back into the 115.02 levels handle zone.
According to the 4HR chart the value float above the moving averages which kept direction higher. The resistance seems in 116.01 levels, the support remains in 115.02 levels. The MACD histogram grows which point out buyer’s position strength. RSI oscillator stands within the overvalued region.
The yellow metal remained around Ten-month low as next news Fed decision about the rate-hike kept on weigh up. The metal prices sustained to drive lower in the yearly trades on yesterday. The pair smashed 1159 levels at the beginning of the US session & superior advanced. The value continued rising well under the moving averages in the 4HR chart. The moving averages handled their bearish angle.
The resistance exists at 1169 levels, the support remains at 1159 levels. MACD moved into the negative region. If MACD stays within the negative zone, seller’s spot will strengthen. RSI indicator stands within the oversold area.