December 2016

Price dropped to our yesterday’s profit target perfectly. We remain bearish below 1.0219 resistance (Fibonacci retracement, horizontal pullback resistance) for another push down to 1.0087.Stochastic (21,5,3) has broken an ascending support-turned-resis…

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Global macro overview for 30/12/2016:The US Chicago PMI (a monthly measure of business conditions based on surveys of purchasing managers across Illinois, Indiana and Michigan) is scheduled for release at 02.45pm GMT today. Market participants are expe…

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GBPUSD – Flat

Daily chart: Bollinger middle band (116.08) predictably acted as supporting, but apparently, this support will fail to create a new full upward wave. A downward reversal is almost a settled thing. The medium-term goal seems to be the lower Bollinger band (112.80)

Н4: a strong local resistance around 117.07 (middle Bollinger band, plus all the psychological level). To release potential of the trend, bears need to break through support 116.08.

Н1: flat 116.22-117.07. Thin market can provide volatile surprises, buttrading inside this range is also a very probable scenario for the coming holidays.

The main scenario – flat 116.22-117.07

The alternative scenario – a breakthrough for support 116.08 and a fall to the 115th figure.

Trading solutions: sales from 117.0

You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.

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GBPUSD – Flat

Daily chart: ADX contradicts to RSI, which is a corrective signal. Technical correction is to reach the middle Bollinger band (1.2466), from where bears will be able to push a new wave down towards 1.2139 (the lower Bollinger band)

Н4: a flat horizontal corridor within Bollinger envelopes (1.2214-1.2307)

Н1: a better shaped support at the middle Bollinger band (1.2259), from where bulls will probably take the momentum to ​​1.2303 (upper Bollinger band) after the pair EURUSD.

Expectations: touch of 1.2259 and then impulse movement to 1.2303

Solutions: purchase from 1.2259 to 1.2303

You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.

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Global macro overview for 30/12/2016:The initial jobless claims reports saw the light yesterday, revealing that the US job market is still very resilient as the layoffs are hovering around historically low levels. According to the Labor Department, ini…

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