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Technical Outlook December 21, 2017

21 December 2017
21_12_2017_eur.jpg
 The currency pair went upwards yesterday while the other currency pairs fluctuated with no direction. The market activity declines step-by-step as the Christmas holidays approach. Currency market lacks of liquidity. As for the important data, we advise to pay attention to today’s US releases. They are able to increase volatility during the American session.
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 declined by the end of Friday’s session 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.
21_12_2017_gbp.jpg
The currency pair fluctuated in a rather limited range of 600 pips, which is not enough for the currency pair. GBP/USD shows low volatility as Christmas holidays approach. We do not think that today’s US data is able to increase volatility. There is no trend currently and we advise to avoid trading today.

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 expectations. We think that GBP/USD is likely to develop its downside tendency in the next couple pf days.

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 avoid trading today as the situation is unclear.

21_12_2017_aud.jpg

The currency pair fluctuated in a limited range yesterday and was close to the MA55 balance line. Market activity was low as Christmas holidays approach. There is no trend currently as you can see it on the chart and we give no recommendations in this situation. We advise to monitor the currency pair without taking any decision.

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 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

21_12_2017_chf.jpg

The currency pair fluctuated in a limited range and was close to the MA55 balance line yesterday. Short positions closed by a stop loss. There is no trend today and we give no recommendations in this situation. We advise to monitor the currency pair without taking any decisions.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair fluctuated in both directions last week according to 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.


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