No news for USD JPY – Analysis - 30/12/2015
The USDJPY pair didn’t show any strong move in the last days, to keep its stability above the main bullish channel’s support level that appears in the chart, noticing that stochastic provides clear positive signals on the daily time frame.
Therefore, these factors encourage us to keep our overall bullish trend, which its targets begin at 124.00 and extend to 125.85.
Expected trading range for today is between 119.70 support and 121.70 resistance.
Expected trend for today: Overall Bullish
GBP USD resumes the decline – Analysis - 30/12/2015
The GBPUSD pair managed to confirm breaking 1.4885 level by achieving a daily close below it, which provides more support for the continuation of the bearish trend scenario, which is under continuous negative pressure from the EMA50, opening the way towards heading to the previously recorded bottom at 1.4564 as a next main station.
Therefore, the bearish trend will remain valid and active in the upcoming period, it might be preceded by temporary rise affected by stochastic positivity before resuming the decline, pointing that holding below 1.4900 important for achieving the waited targets.
Expected trading range for today is between 1.4700 support and 1.4900 resistance.
Expected trend for today: Bearish
EUR USD within sideways track – Analysis - 30/12/2015
The EURUSD pair bounced lower after approaching from 1.1005 level yesterday, to fluctuate near the critical support at 1.0890, as long as the price above this level, so we keep preferring the bullish trend on the intraday and short term basis, waiting for breaching 1.1005 level to confirm heading to 1.1120 as a next main target.
Stochastic shows positive signal now that reinforce the expectations of moving higher, being aware that breaking 1.0890 level will put the price under negative pressure that targets testing 1.0750 level initial before any new attempt to rise.
Expected trading range for today is between 1.0850 support and 1.1050 resistance.
Expected trend for today: Bullish
Update: Crude oil retests again
Crude oil price traded with clear positivity to retest 37.75 level again, accompanied by stochastic reach to the overbought areas, which supports the chances of bouncing bearishly to resume the main bearish trend, which its main targets begin at 35.13.
It is important to monitor the daily close according to 37.75 level, as holding above it might push the price to visit 39.00 level before any new attempt to decline.