First resistance is in the region of 1.4300-1.4330

Technical analysis for 23.12.200908.21.AM

EURUSD

Euro / dollar attempt to rise yesterday, reaching a peak of 1.4331, but further increasing momentum was rejected as the price sharply lower, piercing into the bottom 1.4250 to 1.4218 to 1.4246 and closed. Seems to support some „double bottom“ failed to prevent the downward pressure in this phase. This fact should lead us to further technical scenario descending order of 38.2% Fibonacci level (1.2456-1.5143) around 1.4127, which is supported by key term perspective. 1.4127 a breakthrough would be a potential threat to long-term upward views. First resistance is in the region of 1.4300-1.4330. It seems we have a very strong downward momentum this month with no signs of a significant upward adjustment.

GBPUSD

Pound / dollar downward momentum continued yesterday, piercing below 1.6000 psychological level, reaching depths of 1.5920 and 1.5961 on the day of closing. As I said yesterday, less than 1.6000 breakthrough should lead us to a future bearish scenario for at least 1.5800 this week, the couple now enters a new phase of the downward scenario. Has immediate resistance of 1.6000-1.6050. Break above this area should lead us in an obscure trade zone, but long positions are not recommended.

USDJPY

Dollar / yen upward momentum continued yesterday the summit of 91.87 and closing at 91.84 signals remain upward to 92.32. Of the four graph we can see that the price was increasing momentum after a great break above 90.80 without a significant downward correction, which indicates a strong bullish momentum. The nearest support is near 91.50. Break above 92.32 should trigger further momentum, at least up to 93.30 this week.

USDCHF

Dollar / franc did not make a significant move yesterday, but the fact that the price is now able to remain above 1.0450 should remain intact ascending scenario for at least some level of 1.0530 before 1.0700. I do not see a significant signal of a downward correction yet, so expect further bicho during this time. Other traffic below 1.0450 should lead us in an obscure trade zone in a direction in the short term would be ambiguous, because the market might consolidate, but the overall signal remains upward.

* The views expressed in this material does not constitute advice or recommendations to buy or sell. Forecasts cover the expectations expressed by the author of the material and may not be true.

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