Daily Technical Analysis on 15th December 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
Euro traded blended against the US dollar as traders stayed cautious before the FOMC meeting on Wednesday. We hang around for Germany Manufacturing PMI from Markit later today. The pair unlocked yesterday’s session on a bullish tone. Traders forced prices to the 1.0645 levels in the early trades but lost to recover it. A fresh spell of selling pressure comes back into values 1.06 levels. The pair sustained trading horizontal keep on in the tight range throughout the European session & made tried to grow in the US session.
The price tested the 50 & the 100 EMAs in the 4Hr chart. The pair continued staying well under the moving averages in the same chart. The 200 EMA directs lower although the 50 & the 100 EMA remains neutral. The resistance finds in 1.0645 levels, the support comes in 1.06 levels. MACD indicator is at the neutral in position. RSI indicator also stands neutral.
The Pound went up & down among the EURGBP cross activity & positive Unemployment data in the nation. Besides the dollar soften against weak US Retail Sales. We expect the BoE decision about the rate & minute’s publication right then today. Bullish market sentiment stayed unmoved on yesterday. Still, a lack of upside momentum mutually with a latest selling interest sent prices under the new high levels at 1.27. The pound drives lower in the early hour trades & clogged over the 1.265 mark levels in the mid-European session.
In the 4Hr chart, the value rebound the 50 EMAs in the European session. All moving averages directs higher in the same timeframe. The resistance lies at 1.27 levels; the support seems at 1.26 levels. Decreased MACD indicates the buyer’s spot weakening. RSI stayed within the neutral zone.
The BoJ released upbeat Tankan Large Manufacturing index on yesterday & foreign bond investment in trades on today. The pair traded in long thin consolidation below latest high at 116.12 levels on last day. The US dollar was unchanged remaining in a stiff range during the full day.
The value hovered over the moving averages in the 4Hr chart. The 50, 100 & 200 EMAs directs higher. The resistance remains in 116 levels, the support stays in 115 levels. MACD decreased which hints the buyer’s spot declining. Indicator RSI left the overbought zone & beginning to drive southwards.
The yellow metal builds up on yesterday as investors were in a hold mode before the Fed’s meeting results periodical. The metal prices handled their bearish market configuration on last day. The gold showed a slight recovery bounce & traded with little bit gains. Bulls cracked the 1162 levels & placed a session high over it. Still, they were powerless to force prices higher than 1166 levels throughout the European session.
The yellow metal sustained rising well under the moving averages in the 4Hr chart. The moving averages handled their bearish slant. A bearish tone overcomes in the 4 hours chart. The resistance appears at 1171 levels, the support lies at 1161 levels. MACD stayed at the equal level which confirms the seller’s power. RSI oscillator left the oversold area & drives to the neutral region.