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Technical Outlook December 26, 2017

26 December 2017
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The market activity was law on Friday as Christmas holidays were approaching. The volatility was low and there was no point in opening trades in the last day of the week. This week is going to be short and the activity is likely to be low as there will be only three days of trading. We don’t think that the market participants are going to be active before the New Year holidays. There are no important data this week and the volatility is likely to remain low.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went upwards last week frustrating our downside tendency expectations and we think this was due to Christmas holidays. We think that EUR/USD is likely to decline 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.
26_12_2017_gbp.jpg
The currency pair fluctuated in a tight range on Friday as Christmas holidays were approaching. WE think that GBP/USD is likely to stay within this range today. Great Britain is on holiday today and many European countries are on holidays as well. We think that the volatility is likely to rise during the American session. However, this activity growth is likely to be limited. There is no trend currently and we give no recommendations. There are no important news today.

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 within a small range. We think that GBP/USD is likely to develop this no trend 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.

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The currency pair fluctuated within a range on Friday on the eve of Christmas holidays. We expected this scenario as market participants had low activity. We think that AUD/USD is likely to stay within the range today as some investors are still on holidays and the volatility is going to be low. There is no trend currently and we give no recommendations. No important data from Australia or United States is to be released today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair went upwards last week contrary to our expectations. We think that AUD/USD is likely to develop its upside tendency or stay within the range 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.

26_12_2017_chf.jpg

The currency pair showed no activity on Friday as long Christmas holidays were on the way. We think that USD/CHF is likely to stay within a limited range today with low volatility as there is no important data today. European banks are closed. The volatility is likely to increase during the American session. However, we do not expect any volatility burst as volumes may be low this week.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair declined last week contrary to our expectations. We think that USD/CHF is likely to develop this ‘no trend’ 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.


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