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Technical Outlook December 20, 2017

20 December 2017
20_12_2017_eur.jpg
The currency pair went upwards yesterday what is surprising as the other currency pairs remained without clear direction. Ifo data has met the expectations, but it is on the highest level for the past 60 years. We think that this is the main reason for EUR/USD to go upwards yesterday. There is no many releases today and we think that the currency pair is likely to stay within a limited range or to develop its upside tendency.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair fluctuated in both directions last week but closed Friday’s session below the opening level according to our expectations. We think that EUR/USD is likely to develop its downside tendency in the next couple of days.
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 situation is unclear.
20_12_2017_gbp.jpg
The currency pair fluctuate in both directions as there was no important releases yesterday. We think that today the situation will be the same as there is no important releases to follow. We expect GBP/USD to stay within a limited range for the whole day. There is no trend currently and we give no recommendations.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week according to our recommendations. We think that GBP/USD is likely to develop its downside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

20_12_2017_aud.jpg

The currency pair fluctuated within a limited range yesterday around the MA55 balance line. If you opened risky trades, they brought no profit. There is no trend currently and we give no recommendations today. We advise to monitor the currency pair’s fluctuations.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair went upwards sharply last week frustrating our expectations. We think that AUD/USD is likely to resume its upside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

20_12_2017_chf.jpg

The currency pair failed to rebuild its tendency and resumed its decline. We think that USD/CHF is likely to develop its downside tendency in the nearest future. We advise to open short positions from the MA55 balance line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair fluctuate in both directions last week frustrating our expectations. We think that USD/CHF is likely to resume its upside tendency aiming the trend line on the Weekly chart.

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 positions from the MA55 balance line. Place stop losses above the indicator.


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