Forex trading! S: support.adamantfinance M: info@adamantfinace.com Registration
Analytics Technical analysis

Technical Outlook December 20, 2016

20 December 2016

EURUSD

20_12_2016_eur.jpg

The currency pair is in flat and is trading around the balance line. The MA-channel is in the neutral position which is also a sign of uncertainty. Yesterday’s German Ifo Business Climate was better than forecasted but this data had no influence on quotes. There is no important statistics today and the currency pair is likely to be trading within a range. We expected it to go towards the trendline but EUR/USD is still far from it.

The currency pair is in the downtrend on the Weekly chart as the price is below the MA55 balance line. EUR/USD continued its decline last week according to our expectations. We think that EUR/USD is going to decline again after some correction.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to do nothing today as the situation remains unclear.

GBPUSD

20_12_2016_gbp.jpg

The broken through trendline played a role of a resistance and the price bounced off it establishing new December lows. It seems that the currency pair is going to continue its downside dynamics without any correction. There is no important data today to follow. You may try to open short trades from the MA55 balance line area.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined according to our expectations. We think that GBP/USD is going to continue its decline this week after some upside correction.

The currency pair is in 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 the MA55 balance line area. Place stop losses at will.

AUDUSD

20_12_2016_aud.jpg

Last Reserve Bank of Australia meeting minutes had almost no impact on fluctuations as there was nothing new in RBA members’ comments. The currency pair declines gradually and is unable to correct towards the balance line. There is no opportunity to open trades. The price is moving towards 0,71800.

The currency pair is in neutral trend on the Weekly chart as the price is close to the MA55 balance line. We think that the price is able to reach the target at 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 do nothing today as the price is far from the MA55 balance line. There are risks of a correction.

USDCHF

20_12_2016_chf.jpg

The currency pair declined to 1,02200 but failed to reach 1,02000. We think that there is a probability of another burst towards 1,02000 and then we expect USD/CHF to start upside tendency. However, we advise to avoid hasty decisions as the MA-channel reversed and there is a probability of further decline as the correction may be deeper than we had expected it previously. You may try short positions as the trend looks downwards and the price is close to the balance line. If you decide to sell, targets should be close to the strike price.

There is the downtrend on the Weekly chart as the price is fluctuating above the MA55 balance line. The currency pair had growth from the trendline and we think there is a probability of further growth after a correction.

The currency pair is in 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 the MA55 balance line. Place stop losses above the curve.


Back to analytics