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Technical Outlook December 14, 2016

14 December 2016

EURUSD

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Wednesday, December 14 is very important for traders as today the FOMC is going to take decision about the Interest Rates and may also announce its further outlooks for Fed’s monetary policy in the nearest future. Market dynamics will completely depend on this event. There is also some other important US data which is able to influence fluctuations along with the FOMC meetings.

The currency pair is in the downtrend on the Weekly chart as the price is below the Ma55 balance line. EUR/USD reached 1,08500 area and then resumed its downside tendency which was supported by the results of the Italian Referendum. We think that the currency pair is going to decline this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. The price is close to the balance line but we think that today’s dynamics will depend on fundamental factors. You may place sell stop order from 1,06000. However, there is high risk that the currency pair will touch this level and go higher.

GBPUSD

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The currency pair had a positive dynamics yesterday due to better than expected UK CPI data. However, CBP/USD growth was limited as today market participants are waiting for the results of the FOMC meeting. Investors are cautious to take decisions before the release of the results of this important event.

The currency pair is in the downtrend on the Weekly chart as the price is below the MA55 balance line. GBP/USD failed to reach 1,28500 and 1,28000. We think that the currency pair is going to resume its downside tendency this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. The price is close to the balance line. You may try to open long trades from the MA55 but it is better to protect your trades before the FOMC meetings.

AUDUSD

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The currency pair is in the uptrend at the moment but this tendency is weak and me be broken today. We expect some sharp fluctuations after the FOMC meetings. You may place a sell-stop order which is to trigger in case if the currency pair goes down sharply.

The currency pair is in the neutral trend on the Weekly chart as the price is close to the MA55 balance line. AUD/USD continues its upside dynamics but we expect it to start declining towards 0,71800 this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to place a sell stop order at 0,74600.

USDCHF

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The currency pair continued its downside correction and our trades close by stop loss. If you closed your positions yesterday in the morning, your losses would not be significant. Today it is important to pay attention to the FOMC meeting which is to take place during the American session. We expect some sharp fluctuations. You may place a buy stop order to earn on a probable upside momentum.

The currency pair is in the uptrend on the Weekly chart as the price is above the MA55 balance line. USD/CHF bounced off the trendline on the Weekly chart and we think it is better to open long trades this week.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to place a buy stop order at 1,01500.


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