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

Technical Outlook December 28, 2016

28 December 2016

EURUSD

28_12_2016_eur.jpg

The market activity is very low and you can clearly see it on all timeframes. It is risky to trade in those conditions. Most of market participants are on holidays at the moment and the volumes are low. Yesterday’s US CB Consumer Confidence data was better than expected, but as we have noticed it previously there was no significant reaction to this event.

The currency pair is in the downtrend on the Weekly chart as the price is below the MA55 balance line. EUR/USD was trading in both directions last week and closed on Friday almost at the same level as it opened on Monday. We think that the currency pair is going to decline this week.

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 and the volumes are low.

GBPUSD

28_12_2016_gbp.jpg

Yesterday’s trading range was about 400 pips. This volatility level is too weak for the currency pair. UK traders are going to be back today but we think that this will have almost no impact on the current situation as most of players are still on holidays and there is lack of volumes. We advise to do nothing today.

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 without any correction. We think that this dynamics will be continued this week.

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 situations is unclear. It is risky to open trades when the volumes are low.

AUDUSD

28_12_2016_aud.jpg

The currency pair did not show high volatility yesterday. We think that today’s candlestick range may be higher, but it is hard to say what is going to happen by the end of this day as the volumes are still low. It is better to avoid trading. Enjoy your holidays instead.

The currency pair is in the neutral trend on the Weekly chart as the price is close to the MA55 balance line. AUD/USD reached its target at 0,71800 last week. We think that it is going to correct 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 and it is risky to trade on low volumes.

USDCHF

28_12_2016_chf.jpg

The currency pair was trying to establish the uptrend but it failed to choose any direction. We think that that no side will dominate today. The market volumes are low as most of market participants are on holidays and avoid trading. we advise to do nothing today.

There is the uptrend on the Weekly chart as the price is above the Ma55 balance line. The currency pair failed to grow last week and went on a correction. We think that this dynamics is going to continue this week due to the holidays.

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 volumes are low and it is risky to open trades.


Back to analytics