Daily Technical Analysis on 27th January 2017
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
Investors disregarded positive Euro-zone data of Consumer Confidence Survey in Germany showed better than anticipated results, Unemployment Survey in Spain turns down more than predicted. The instant focus at the moment remains on US GDP which is set for later the day. The pair remained in bull's control on yesterday. The market seemed fairly reasonable among lack of market mover. The euro stayed in a tight range between 1.0720 levels - 1.0750 levels throughout the Asian trades. The general European currency dropped & reached 1.070 levels in the mid-European hours.
The spot ruined the 50-EMAs & tested the 100-EMAs in the 1Hr chart. The 100 & 200-EMAs pointed superior whereas the 50-EMAs remained neutral in the same timeframe. The resistance finds at 1.070 levels, the support comes at 1.065 levels. MACD reduced which signs the buyers’ spot weakening. RSI left overvalued regions.
The UK's 4th Quarter GDP came in positive figures supporting the pound. In addition the pound received additional support following Supreme Court conclusion which ruled that Article 50 requires parliamentary sanction to be launched. We anticipate US Gross Domestic Product Price & Durable Goods Orders release on Today. We will also be observance a secure eye on Trump & May's meeting. Theresa May will become the 1st foreign leader to meet the fresh President of US.
In the 4Hr chart showed that the value hovered over its moving averages. The 50-EMA crossed the 200-EMA upside. The 50 & 100-EMAs handled their bullish angle whereas the 200-EMA remains neutral in the 4Hr chart. The resistance lies in 1.260 levels, the support exists in 1.250 levels. MACD histogram grew which hints buyers’ strength. Indicator RSI consolidated within the overvalued zone.
The yen weakened despite obtainable risks towards global trade which keep sustaining the safe-haven yen. Japan will release CPI numbers in the night. Bears failed the ball on yesterday. The pair remained levels-bound-to superior in the Asian session. An upward impetus comes out before the European session opening. The US dollar bounced off 113 levels & jumped towards 114 levels during the morning session. The US dollar accelerated its upturn post-European hours open & moved to latest session peak over 114 levels.
The value smashed the 50-EMA upside in the 4Hr chart. The place sustained developing well under the 100 & the 200-EMAs afterwards. The 50 & 100-EMAs directed lower whereas the 200-EMAs remained neutral in the same time frame. The resistance appears at 115 levels, the support seems at 114 levels. MACD grew which signs the seller’s spot weakening. The RSI left the neutral zone.
The yellow metal prices edged lesser after the European & EU stocks rally. Still, concerns over Trump’s protectionism kept preventive the US dollar upturns especially gone Trump signed a set of immigration laws on Wednesday. The yellow metal values remained below heavy selling pressure on yesterday. Sellers lost to move the value under 1193 levels in the later. The pair bounced off the mark levels & upturned some losses. The metal sustained trading in negative floor during the day & smashed 1190 levels before the US session open.
The value cracks the 50 & 100-EMAs downside in the 4Hr chart. The 50 & 100-EMAs stayed bullish, whereas the 200-EMA remains flat. The resistance stays in 1190 levels, the support stands in 1180 levels. MACD moves into the negative area. If MACD stays in the same areas, seller’s spot will strengthen. Oscillator RSI consolidated within the oversold region.