14
Dec
Daily Technical Analysis on 14th December 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, & XAUUSD.
EURUSD
The euro undermined among unaffected Economic Sentiment in Germany as investors anticipated its growth. The sentiment stayed bearish on last day. The pair is at rest inside of a descending channel outline. The euro handled its softer manner, but drifted above 1.0601 levels of support. Sellers seem to be ahead more largely control as the dollar was capable to get well some of its weekday losses. The greenback move back from weekly highs & attempted to crack 1.06 levels hold throughout the day.
The value rebound the100 EMAs downside in the 4HR chart. The 200 EMAs directed lower although the 50 & 100 EMA were horizontal in position. The resistance finds in 1.065 levels, the support comes in 1.06 levels. MACD moves downside. The RSI indicator remains neutral.
GBPUSD
The pound builds up on improved than forecast of Consumer Price Index. Retail Price Index came in positive as well as PPI depressed investor. The British money has been trading some bullish this weekdays. After recovering the key levels of 1.26 handle the pound longer its leads to latest 1-week high at 1.27 levels. Buyers met seller’s resistance just about the level & thrash about hard to break it through.
The price bounced off the 100 EMAs & smashed the 50 EMAs in the 4HR chart. All moving averages handled their bullish angle. The resistance lies at 1.27 levels; the support seems at 1.26 levels. MACD histogram grew which hints buyer’s strength. Indicator RSI stayed within the overvalued region.
USDJPY
The US & Japanese calendars were clean on Tuesday. Markets stay for the Fed’s meeting consequences expect to listen to confirmations regarding the rate-hike action by the Fed. The 4-week uptrend stayed unbroken on yesterday. Even with the generally positive sentiment bears unmoving deal with push the pair lowers on weekday. The dollar pause its solid uptrend subsequent to finding resistance in the 116 levels.
In the 4HR chart the price sustained developing well over the moving averages. The 50, 100 & 200 EMAs handled their bullish slope. The resistance appears at 116 levels, the support stands at 115 levels. Indicator MACD is at the same level which sure the buyer’s growing power. The RSI oscillator left overvalued zone.
XAUUSD
The metal value comes back to the downwards expecting the FOMC decision above the rate hike. The odds that the Fed will modify its rates are high weigh on the gold. The metal traded lower in the Asian session. The value twisted its direction after finding a strong fence at 1155 post-European session open. The value mounted over 1161 levels reversing a slight part of its new losses.
The value stayed under the moving averages which all directed lower in the 4HR chart. The resistance exists in 1171 levels; the support stays in 1161 levels. The RSI indicator stayed within the oversold region.