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Technical Outlook December 29, 2017

29 December 2017
29_12_2017_eur.jpg
 The currency pair develop its uptrend as USD continues to fall. Today is the last day before long holidays and we think that the volatility is likely to be low. USD may start to grow the next year and we advise to fix all positions before the weekend and the holidays. There is no important data today and we think that the fluctuations are likely to be calm with no sharp momentum.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went upwards last week contrary to our expectations and we think that this was due to the holidays. We think that EUR/USD is likely to go upwards 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.
29_12_2017_gbp.jpg
There was no opportunity to open short positions from the MA55 balance line as the price failed to reach those levels. Today is the last trading day before long holidays and we think that GBP/USD is likely to stop its upside tendency. The volumes are low and the currency pair may start a consolidation. There is no important data today and we think that the volatility will be low.

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 and stood in a small range. We think that GBP/USD is likely to stay within a limited range until the end of the week.

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.

29_12_2017_aud.jpg

The currency pair offered an opportunity to open long positions from the MA13 and the price was in the profit area for 150 pips. It was enough to protect trades. However, the upside tendency stopped there and we recommend fixing al your existing positions as they are. We expect AUD/USD to start a consolidation. There is no important data today and we think there will be no sharp fluctuations or volatility growth.

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 until the end of the year.

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.

29_12_2017_chf.jpg

There was no opportunity to open positions with high risks as the price failed to reach the MA13 level. The price was there by the end of the American session and there was no reason to open positions at that moment. There is no important data today and we expect no volatility rise as long holidays are on the way.

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 both sides fluctuations tendency.

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 avoid trading today as the situation is unclear.


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