banner-img
banner-img
banner-img
23 Dec

Forex Weekend Technical 23 December 2016

admin Forex Technical outlook 0 Comments

Daily Technical Analysis on 23 December 2016

Today’s Technical Pairs: EURUSD, GBPUSD, BRENT-OIL, & XAUUSD.
EURUSD
The dollar disregarded upbeat US data on yesterday. Durable Goods Orders strike traders' potential. Gross Domestic Product Price for 3rd Quarter came in a line with prospect while the Annualized GDP shows positive results. The euro strengthens additional in the European session on last day, sending pair to latest weekly highs. The pair smashed the 1.045 levels in the early trades & made a try to touch its instant resistance close to the 1.05 levels. Still, bulls lost to regain the levels & the key currency pair comes back into the 1.045 levels before the US session opening. 
 
The price cracks the 50 & 100 EMAs upside & tested the 200-EMAs in the 1Hr chart. The 50 & the 100 EMA remains neutral although the 200 EMAs directed lower. The resistance finds in 1.045 levels, the support comes in 1.040 levels. MACD grew which signs the seller’s positions weakening. Indicator RSI went upside which signs the buyer’s dominance.
GBPUSD
The pound remained range bound waiting for GDP release on Today. The pair stayed under pressure on yesterday. The pair drifts not far from its fresh lows in the 1.23 levels. The value remained under the moving averages in the 4Hr chart. The 50 EMA intersects the 200 EMA downside force. The 100 & 200 EMAs averages remain neutral while the 50 EMAs directed lower in the 4Hr time frame.
 
The resistance lies at 1.24 levels, the support appears at 1.23 levels. MACD grew which hints the seller’s spot weakening. The RSI oscillator stayed within the oversold area.
BRENT- Crude Oil
On Thursday Oil remained under pressure among the US inventories rise. In addition, might investors preferred to cut their extended positions before the Christmas holidays. Brent prices settled lower. Following a short consolidation throughout the Asian hour’s sellers forced the price much lower. They smashed the resistance levels at 54.50 & headed towards 53.50 levels. The downward movement was slow before the US statistics & due to the thin market before the upcoming holidays.
 
The value broke 50-EMAs & tested the 100-EMAs in the 4Hr chart. The moving averages kept bearing higher. The resistance seems in 54.50 levels, the support stays in 53.50 levels. MACD histogram reduced which signs the seller’s strength. RSI indicator left neutral position & encouraged southwards.
XAUUSD
The yellow metal remained unchanged on yesterday as trading volumes reduce before the Christmas week-end. The metal remains bearish generally, with bias at the weakness. The metal showed little progress on last day & keep on in a narrow range between 1130 & 1135 levels.
 
The values reached & bounced off the 50-EMAs in the 1Hr chart. The 50 & 200 EMAs handled their bearish slope although the 100 EMA remains neutral in the same time frame. The resistance exists at 1140 levels, the support stands at 1130 levels. MACD stayed at the same level which signs the sell signal. The RSI oscillator held within the oversold regions.
Previous Next
 
Share This Post
 
 
banner-img
banner-img
banner-img
watercolor paints

Read ICM Capital Review

  LeTechs Rating  
  Regulation   FCA
  Branches   UAE, China, Russia, Mauritius
  Bonus   $1000

Since
2009

watercolor paints

Read Fidelis Capital Markets Review

  LeTechs Rating  
  Regulation   FSA, St. Vincent and the Grenadines
  Branches   Except USA, Belgium and British Columbia
  Bonus   200% Bonus

Since
2013

banner-img

Facebook

Twitter

Google Plus

Risk warning: Trading foreign exchange (Forex Trading) and contracts for differences (CFDs) on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please ensure you fully understand the risk involved before trading, and if necessary seek independent advice.

Copyright © 2015 LeTechs. All Rights Reserved.