05 Jan

Forex & Gold-Daily Technical on 5 January 2017

admin Forex Technical outlook 0 Comments

Daily Technical Analysis on 5th January 2017

Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
EURUSD
The euros strengthen across its US rival getting helps from the EU positive data. According to Euro-stat the Euro-land inflation has been increasing at its best pace. Positive Markit Services & Composite PMIs in Germany and France promotes the euro as well. From a technical viewpoint, the pair stayed in a mid-term downside channel staying just about its lower boundary. 
 
Though, the 4Hr chart accessible a limited uphill potential. The value tested the 50-EMAs in the same chart. The euro took a lead of the weaker dollar & upturned a minor part of its current losses on Wednesday’s trades. Buyers forced prices to 1.045 levels where the upside momentum faded in the mid-European session. After reaching the level the euro somewhat rolled back staying in its levels. The 100 & 200-EMAs kept pointing lower even as the 50-EMA stands neutral. The resistance is at 1.045 levels, the support comes at 1.040 levels. MACD grew which signs the sellers’ spot weakening. RSI left oversold areas & moves into the neutral zone.
GBPUSD
The British pound improved some floor when the fresh UK data showed positive figures. Therefore, Construction PMI, Mortgage Approvals & Consumer Credit beat all traders’ prospect showing a steady growth of the UK economy following the Brexit. The sterling well again some position, but stays weak against the US dollar trading under the mark levels of 1.230 on yesterday. Traders were capable to drive the price upwards in the early on trades. The pair improved to 1.2285 levels where the upside trajectory misplaced its legs post-European session open.
 
The value hardened the 50-EMAs in the Asian session on last day. The value lost to regain the level & remained well below the moving averages in the same chart. The moving averages handled their bearish slant. The resistance lies in 1.230 levels, the support exists in 1.220 levels. MACD is at the neutral in position. The RSI indicator stayed within the neutral zone.
USDJPY
The yen rejected positive Manufacturing PMI from Nikkei & stands below pressure in the early trades on yesterday. European equity markets kind cautious sentiment switched off the risk craving sustaining the yen as a safe-haven currency later on that day. Furthermore, the US Treasury bond yields retracement kept on evaluate on the greenback. From a technical point the pair stays in a neutral-to-bullish position. The pair unsuccessful to maintain the Asian recovery when buyers met a hard fence just about 118 levels and had to step back. 
 
According to the 4Hr chart the value tested the 50-EMAs 2times in the whole day. Traders lost to smash the line which discarded them every moment. The 100 & 200-EMAs pointed higher whereas the 50-EMA remains neutral. The value stays hovering over the moving averages throughout the day. The resistance seems at 118 levels, the support appears at 117 levels. Indicator MACD traded to the upwards. RSI oscillator left the overvalued region & move into the neutral zone.
XAUUSD
The yellow metal stirred higher on last day despite an upbeat dollar. The dollar retracement appears to be the only factor nearly the metal advanced. The dollar is well-built & we consider if the metal handles to sustain its revival strength. The pair unlocked green levels on yesterday. Trader’s cracks the 1160 levels & led to 1170 levels during the Asian time. The pair was incapable to mount higher & move away almost directly after the level tested.
 
The price tested the 200-EMAs in the 4Hr chart. The 100 & 200-EMA handled their bearish slant even as the 50-EMA pointed much higher. The resistance remains in 1160 levels, the support stands in 1150 levels. MACD declined which hints the buyer’s spot weakening. The RSI oscillator consolidated within the positive region.
Previous Next
 
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

Free Forex Trading Seminar In Salem
Aug 19 , 2018

Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017

Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017

Archives
 
 
 
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


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.