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Technical Outlook December 22, 2017

22 December 2017
22_12_2017_eur.jpg
The currency pair started a correction after a continuous growth, that EUR/USD had this week. Today is the last day on the eve of the Christmas holidays. We think that market activity is likely to fall today. WE advise to do nothing as there is no tendency currently. We give no recommendations as it is better to wait until the volatility grows. There are no important news and events in addition.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went in both directions last week and closed its Friday’s session below the opening levels according to our expectations. We think that EUR/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 below the MA55 balance line. We advise to avoid trading today as the situation is unclear.
22_12_2017_gbp.jpg
The currency pair still fluctuates with no trend within the limited range. Yesterday’s US data was unable to shake the markets as GBP/USD has low volatility. There are no events today and we are on the eve of Christmas holidays. 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 after fluctuations in both directions last week. 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

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.

22_12_2017_aud.jpg

The currency pair went upwards as the volumes decreased. However, we do not think that AUD/USD is going to develop its upside tendency today as the market participants are looking forward to the Christmas holidays and are unlikely to make any significant steps. There is no tendency currently and we give no recommendations today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair went upwards sharply frustrating our expectations. We think that AUDUSD 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.

22_12_2017_chf.jpg

The currency pair tried to grow yesterday and to establish an upside tendency. However, USD/CHF stays within a range and the price is close to its upper side. We think that USD/CHF is likely to bounce off this upper side and we do not think that there is a reason to buy the currency pair in this situation. We advise to avoid trading today as we are on the eve of Christmas holidays and there is no trend currently.

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 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.

                                                                                                                                                     


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