GBP/USD prepares for a correction, as the price reversed just ahead of a 16-month high at 1.6308 and continues to depreciate even further.
Seems that EUR/USD will stay beneath a 1.3230 level during Christmas and the New Year's Eve, as this level was retested by three consecutive trading sessions.
USD/JPY pair shows real Christmas miracles, as Shinzo Abe was approved as Japan's Prime Minister and the pair sky rocketed as a result.
Pair started the week rather erratically wandering between 55 and 100 day SMA's.
After a promising start earlier in the session pair did not manage to stay above 55-day SMA for a long time and at the moment is hovering between technical levels.
Pair tried to return above 55-day SMA, but already lost 30 pips after receiving a bearish impetus from it.
After a dim start of the week the pair picked up the pace and seems to be charging it self for one more attempt to advance above 112.5.
The pair has found support at 0.9098/77, though the rebound was not sufficiently strong in order for USD/CHF to gain a foothold at higher levels and maintain upwards direction today as well.
USD/JPY has reached a new 19-month high—84.63, but seems to be reluctant to carry on stepping higher, even though technical indicators on all relevant timeframes are bullish in aggregate.
The cable has revealed its strong correlation with EUR/USD by failing to sustain the rally above the bearish line, changing its direction just ahead of the 16-month high (1.6308).
Even though the bullish momentum appeared to be rather strong, as EUR/USD has been violating supports since August, bulls proved to be unable to throw the price over the major declining trend-line that has been preventing surges from emerging for the last 19 months.
Pair received a bearish impetus from 20-dai SMA at 0.8338 and has been depreciating ever since—for the time being it dipped 100 pips in the course of 16 hours.
After finishing in rather disappointing tone yesterday pair started today with a blast—it appreciated 20 pips in the first 4 hours, which was followed by a minor set back slightly above 0.99 and rocketed another 25 pips in next 4 hours.
After a minor recovery yesterday pair continued its rally and managed to depreciate more than 50 pips today.
Pair started the day immediately with a dip and did not manage to recover despite the best efforts of the bulls and at the moment is hovering below 111 JPY.
USD/CHF pair found a support at a 0.9120 level, the 423% Fibo and the lower down-sloping channel line, and firmly appreciates from it today.
USD/JPY pair depreciates from the highest level since April, 2012, but the price remains in a wide channel with boundaries at 83.82 and 84.42.
GBP/USD repeats the major currency pair's actions recently.
EUR/USD pair was testing a 1.3240 level yesterday and ,despite an upside impulse, the price was finally pushed back and closed exactly at the 1.3240 level after Thursday's trading session.
Pair continuing its bearish correction and at the moment is supported by 20-day SMA and monthly R1 at 0.833. Taking in to account recent developments and pairs momentum there is a high probability that these levels wont be much of a problem for the pair today making 0.8265 next target.
Early in the session pair tried to recover some of its losses, but dropped by almost 30 pips after receiving a bearish impetus from 1.05. It seems that this dip, coming mostly from weekly technicals, will last some time more, but either 1.045 or 1.0417 should become those levels which should kick the pair in higher gear as in these
Despite a rather choppy session today pair is continuing its humble rally as 100 and 20-day SMA's seems to have become strong support levels for the pair. However, current market sentiment and recent developments around 0.99 area suggests that pair might not breach this important level at once but, rather do so (if to do at all) in the course
Pair took a brake while trying to breach 112. Yesterday and today, it managed to briefly advance above this important psychological level, but monthly R2 yesterday and Bollinger band today were the main obstacles. It seems that for the time being pair lacks the catalyst which could push it further. Situation might be completely different next week, but for the
USD/CHF pair's depreciation was stopped at 0.9130 yesterday.