banner-img
banner-img
banner-img
04 Jan

Forex & Gold-Daily Technical on 4 January 2017

admin Forex Technical outlook 0 Comments

Daily Technical Analysis on 4th January 2017

Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
EURUSD
The euro rejected the positive data from the EU on yesterday. Unemployment Change in Germany showed better-than-expected. Consumer Price Index in France rise as well. We anticipate European Services PMI & PMI Composite from Markit on Wednesday. The pair started on a solid note on last day. Buyers jumped the pair from 1.045 levels to 1.050 levels in the previous trades. Still, an upward impetus caught up at the starting of the European session. The currency pair practiced a notable USD demand among prevalent risk-on emotion. The euro cuts down under 1.045 levels & tested 1.040 levels in the mid-European session. 
 
The value bounced off the 100 EMAs & smashed the 50 EMAs downside in the 4Hr chart. The 100 & 200-EMAs handled their bearish angle even as the 50-EMA remains neutral. The resistance is at 1.045 levels, the support comes at 1.040 levels. MACD moves into the negative zone. If MACD stays in the negative region, seller’s positions will strengthen. RSI stands within the oversold region.
GBPUSD
UK’s manufacturing PMI temporally promotes the pound on yesterday. Still, a broad US dollar's solid limited the key gains. The pound was change neutral-to-bearish position on previous day. The pair rebounded from former lows in the Asian session, though, the pound lost to advance beyond 1.230 levels where the main ran through latest offers. The pour fell to 1.2245 levels; yet, a new bout of buying interest assists the sterling to overturn its early losses & returned the mark to the 1.23 levels.
 
The price cracks the 50-EMA upside in the 4Hr chart. The key was incapable to go away the 50 EMA regions & remains around it whole day. All moving averages reserved points lower. The resistance finds in 1.230 levels, the support comes in 1.220 levels. MACD indicator was neutral in position. Indicator RSI stays within the neutral zone.
USDJPY
Japanese markets were closed on Tuesday among New Year holidays. The dollar kept strengthening versus the yen after the positive Chinese data which toggled on the risk sentiment in the market. As it grow to be known Chinese Manufacturing PMI for December shows better results touching the 4 years high. The pair comes back to full bullish mode on last day. A new wave of dollar buying interest raises the pair to the multi-month highs. Following a brief consolidation in the Asian session on previous day the currency pair rallied to 118 levels at the European session starts. The upward desire caught up after testing the level where the pair remained ahead of the US session opening. 
 
The value bounced off the 100-EMAs & smashed the 50-EMAs upsides in the 4Hr chart. The mark stayed over the 50-EMAs throughout the day. The 100 & the 200-EMAs kept pointing higher even as the 50-EMAs twisted neutral. The resistance seems at 118 levels, the support appears at 117 levels. MACD moves into the positive zone. If MACD stays in the positive region, buyers’ spot will strengthen. RSI headed towards the overbought levels.
XAUUSD
The positive Chinese manufacturing PMI supports gold to wipe out some losses on yesterday. The yellow metal managed to get well in the early trades on last day. The metal prices grew to 1160 levels where it came across a group of new offers which evaluate on the standard. The value sharply cuts down & goes back to the opening level. 
 
The 4Hr chart shows that the value was stressed with the 100-EMAs throughout the day. The 100 & 200-EMA handled sharps lower whereas the 50-EMA remains neutral. The resistance exists at 1160 levels, the support stands at 1150 levels. MACD histogram declined which signs the sellers’ growing strength. RSI left the positive zone & headed downwards.
 
 
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.