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Technical Outlook December 15, 2016

15 December 2016

EURUSD

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FOMC decided to hike Interest Rates as we had expected it previously. The main think is that Fed have made forecasts for the upcoming year announcing that Interest Rates may be increased thrice during the next 12 months. If you had placed sell stop order from 1,06000 you could take about 1300 pips as profit. There was no difficulties to fix this profitable position later. Today we advise to take no decisions as there are no clear signals.

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 and then resumed its downside tendency. We expect the currency pair to decline this week.

Thee 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 do nothing today as the price is close to the lower side of the Ma-channel and there are no clear signals to open trades.

GBPUSD

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The currency pair tried to jump higher before the release of the results of the FOMC meeting allowing to buy from the MA55 balance line. If you opened this trade you could take 400-500 pips as profit or fix position at breakeven level. The currency pair declined right after the release of the FOMC meeting results. We advise to avoid trading as GBP/USD is close to the lower side of the MA-channel.

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 or even 1,28000 last week. We expect the currency pair to resume its decline 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 do nothing today as the price is close to the lower side of the MA-channel and the situation is still unclear.

AUDUSD

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The currency pair declined yesterday after the release of the results of the FOMC meeting. If you had placed a sell stop order at 0,74600, you could earn about 800 pips in the next couple of hours. You may try to open short trades from the MA13. However, the risks are high but you may take some profit.

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 correction but we expect it do decline towards 0,71800 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 open short trades from 0,74300. Place stop loss at 0,74450.

USDCHF

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The currency pair had a considerable growth yesterday right after the release of the FOMC meeting results. If you had placed a buy stop order from 1,01500 you could earn about 1000 pips as profit. We advise to do nothing today as the price is close to the upper side of the MA-channel and there are no signals to pay attention to.

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 broken through trendline on the Weekly chart and we think it is better to open long trades 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 avoid trading today as the price is close to the upper side of the MA-channel and the situation is unclear.


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