USDJPY – Daily Analysis – 13th December, 2016

Date: 13th December, 2016

Currency Pair: USDJPY

Lately USDJPY has able to show some bull strength. At present the price is hovering around daily pivot level i.e. 115.32. Once it crosses the level the price would able to approach 115.80 which is the 1st resistance for today. Above 115.80 we can find other resistance levels at 116.58 and 117.06.

The immediate support is at 114.54. Below the level 114.06 and 113.28 are other support levels.

Yesterday the pair has lost its bull power now trying to regain its bullish momentum. The pair is standing in an overbought territory. As far as the price stands above 114.54 we can expect further upside movement. A clear upside movement will be confirmed once it crosses 115.80 which is the 1st resistance for today.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD Federal Budget Balance Low -136.7B -99.5B -44.2B
USD NFIB Small Business Index Low 96.7 94.9
USD Import Prices m/m Medium -0.3% 0.5%
USD 30-y Bond Auction Low 2.90|2.1

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 114.54 114.06 113.28 115.80 116.58 117.06
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GBPUSD – Daily Analysis – 13th December, 2016

Date: 13th December, 2016

Currency Pair: GBPUSD

It seems that GBPUSD has lost its upward strength. We can expect the pair would able to regain its lost bullish momentum and resume its uptrend movement. The immediate resistance is seen at 1.2729 followed by 1.2781 and then 1.2862.

On flip side 1.2596 is offering intra-day support for today. Subsequently, 1.2515 and 1.2463 are other support levels.

GBPUSD is now in a position from where we can expect further upside movement. Clear uptrend movement will be confirmed once it goes beyond 1.2729 i.e. 1st resistance. Bias is bullish above 1.2729.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD Federal Budget Balance Low -136.7B -99.5B -44.2B
GBP CPI y/y High 1.1% 0.9%
GBP PPI Input m/m Medium -0.4% 4.6%
GBP RPI y/y Medium 2.1% 2.0%
GBP Core CPI y/y Low 1.3% 1.2%
GBP HPI y/y Low 7.3% 7.7%
GBP PPI Output m/m Low 0.2% 0.6%
USD NFIB Small Business Index Low 96.7 94.9
USD Import Prices m/m Medium -0.3% 0.5%
USD 30-y Bond Auction Low 2.90|2.1

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
GBPUSD 1.2596 1.2515 1.2463 1.2729 1.2781 1.2862
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EURUSD – Daily Analysis – 13th December, 2016

Date: 13th December, 2016

Currency Pair: EURUSD

EURUSD has able to show some bull strength before going into consolidative mode. On the upper side 1.0682 is the immediate resistance for today. Once it approaches the level the price may bounce upto 1.0729 and then 1.0808 will be the next target.

On opposite direction i.e. towards down we can find 1.0556 as a strong support level. Below it 1.0477 and 1.0430 are other support levels.

EURUSD has been able to move in a well defined bullish slope. However at present the pair is trying to consolidate just above daily pivot. I’m bullish above 1.0682 which is the 1st resistance for today.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD Federal Budget Balance Low -136.7B -99.5B -44.2B
EUR German Final CPI m/m Low 0.1% 0.1%
EUR German WPI m/m Low 0.3% 0.4%
EUR Italian Industrial Production m/m Low 0.3% -0.8%
EUR German ZEW Economic Sentiment Medium 14.2 13.8
EUR Employment Change q/q Low 0.3% 0.4%
EUR ZEW Economic Sentiment Low 16.5 15.8
USD NFIB Small Business Index Low 96.7 94.9
USD Import Prices m/m Medium -0.3% 0.5%
USD 30-y Bond Auction Low 2.90|2.1

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0556 1.0477 1.0430 1.0682 1.0729 1.0808
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USDJPY – Daily Analysis – 12th December, 2016

Date: 12th December, 2016

Currency Pair: USDJPY

USDJPY pair is trying to hold last trading sessions bullish movement. Now the price is hovering below key resistance i.e. 115.80. A breakout above the level may force the pair towards a new bullish territory to reach upto 116.26 and then 117.16.

On the downside 114.44 is the immediate support for today. Other support levels are at 113.54 and 113.08.

USDJPY is strongly bullish. Bull rally would definitely able to show its strength once the price crosses above 115.80. Bias is bullish above the said level.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
JPY Core Machinery Orders m/m Low 4.1% 1.3% -3.3%
JPY PPI y/y Low -2.2% -2.2% -2.7%
JPY Tertiary Industry Activity m/m Low 0.3% -0.1%
JPY Prelim Machine Tool Orders y/y Low -8.9%
USD 10-y Bond Auction Low 2.02|2.2

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 114.44 113.54 113.08 115.80 116.26 117.16
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GBPUSD – Daily Analysis – 12th December, 2016

Date: 12th December, 2016

Currency Pair: GBPUSD

GBPUSD is muted and trending in a limited range. Now the price is moving slightly up above daily pivot i.e. 1.2583. Next resistance is seen at 1.2613. Subsequently, 1.2651 and 1.2681 are other resistance levels.

On flip side 1.2545 is the immediate support. Failure to stand above the level may push the pair further upto 1.2515 and then 1.2477 will come into play.

GBPUSD has been moving in a very limited range. There is no clear trend which can be visible at current scenario. However in 4 hours chart we can see small bull candles. A confirmed uptrend can be expected above 1.2613 the immediate resistance.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
GBP Rightmove HPI m/m Low -2.1% -1.1%
GBP CB Leading Index m/m Low 0.1%
USD 10-y Bond Auction Low 2.02|2.2

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
GBPUSD 1.2545 1.2515 1.2477 1.2613 1.2651 1.2681
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EURUSD – Daily Analysis – 12th December, 2016

Date: 12th December, 2016

Currency Pair: EURUSD

After reaching to a fresh daily low EURUSD pair is trying to stabilize at current level. At present the pair is trying to create some reversal pattern above key support level i.e. 1.0516. A clear confirmed upward reversal is only possible once the price crosses the immediate resistance i.e. 1.0615. Above the level we can find other resistance levels at 1.0671 and 1.0615.

On other hand 1.0516 is offering a strong support for today. Any break  here could proved as significant from technical perspective. If it happens then the next target would be 1.0473 followed by 1.0417.

EURUSD has been moving sharply towards down to reach strong support area. As far as 1.0516 support defends the price for any further fall we can expect some reversal from here. Bias is bullish above 1.0615 resistance.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD 10-y Bond Auction Low 2.02|2.2

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0516 1.0473 1.0417 1.0615 1.0671 1.0714
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USDJPY – Daily Analysis – 07th December, 2016

Date: 07th December, 2016

Currency Pair: USDJPY

USDJPY has been hovering around limited ranges. There is no such significant changes which can be easily noticeable. From here any upside is only possible once price goes beyond 114.29 which is the 1st resistance for today. Above the level 114.58 and 114.97 are other resistance levels.

On flip side strong support is seen at 113.61. Other subsequent support levels are at 113.22 and 112.93.

USDJPY is extremely flat and trading in a narrow range. On upper side 114.29 and towards down 113.61 are key levels. A good directional move is only possible once it breaks anyone of these levels. Bias is neutral.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
JPY Leading Indicators Low 101.6% 100.3%
USD JOLTS Job Openings Medium 5.53M 5.49M
USD Crude Oil Inventories High -0.9M

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 113.61 113.22 112.93 114.29 114.58 114.97
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GBPUSD – Daily Analysis – 07th December, 2016

Date: 07th December, 2016

Currency Pair: GBPUSD

GBPUSD pair had sharply came down from key resistance area. Now the price is trying to approach the immediate support at 1.2631. Unable to stand here may push the pair towards 1.2583 and then 1.2512 will come into play.

On opposite upside limit is capped by 1.2750 which is a strong resistance for today. Subsequently, 1.2821 and 1.2916 are other resistance levels.

It seems that USD is strong across the board. The pair has been going through profit booking. So we may see further downside in this pair. But before that the price must need to cross 1.2631 support. Bias is bearish below 1.2631.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
GBP Halifax HPI m/m Medium 0.2% 1.4%
GBP Manufacturing Production m/m High 0.2% 0.6%
GBP Industrial Production m/m Low 0.2% -0.4%
GBP 30-y Bond Auction Low 1.49|2.2
GBP NIESR GDP Estimate Low 0.4%
USD JOLTS Job Openings Medium 5.53M 5.49M
USD Crude Oil Inventories High -0.9M

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
GBPUSD 1.2631 1.2583 1.2512 1.2750 1.2821 1.2869
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EURUSD – Daily Analysis – 07th December, 2016

Date: 07th December, 2016

Currency Pair: EURUSD

EURUSD has failed to extend further and is now under selling pressure. The immediate support is seen at 1.0681. A break here could proved as significant, which may force the pair to approach further below 1.0646 i.e. 2nd support, followed by other support level at 1.0594.

On other hand 1.0768 is a strong resistance. Above the level other resistance levels can be found at 1.0820 and 1.0855.

EURUSD has lost its bullish momentum near strong resistance. However we can’t deny any possibility of re-attempt to cross the level. If it happens then we may see a good continuation towards up. Bias is neutral at the moment.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
EUR German Industrial Production m/m Low 0.9% -1.8%
EUR French Trade Balance Low -4.2B -4.8B
EUR Italian Quarterly Unemployment Rate Low 11.6% 11.5%
USD JOLTS Job Openings Medium 5.53M 5.49M
USD Crude Oil Inventories High -0.9M

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0681 1.0646 1.0594 1.0768 1.0820 1.0855
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USDJPY – Daily Analysis – 06th December, 2016

Date: 06th December, 2016

Currency Pair: USDJPY

USDJPY pair continues to trade in a limited range. In last trading session the pair had unable to cross key resistance i.e. 114.79. The immediate support is seen at 112.89. Any break here could proved as significant in technical perspective. Below the level we can find other support levels at 111.93 and 110.99.

On opposite 114.79 is a very strong resistance. Other resistance levels are at 115.73 and 116.69.

From last couple of trading sessions USDJPY pair has been trading in an overbought territory. From here we could see some selling pressure. However the price needs to cross below 112.89 for any clear indication towards downward direction. Bias is bearish below 112.89 support level.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD FOMC Member Bullard Speaks Medium
JPY Average Cash Earnings y/y Low 0.1% 0.2%
0.0%
USD Revised Nonfarm Productivity q/q Medium 3.2% 3.1%
USD Trade Balance Medium -41.5B -36.4B
USD Revised Unit Labor Costs q/q Low 0.4% 0.3%
USD Factory Orders m/m Medium 2.5% 0.3%
USD IBD/TIPP Economic Optimism Low 52.3 51.4

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 112.89 111.93 110.99 114.79 115.73 116.69
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