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CURRENCIES TECHNICAL ANALYSIS December.16

Euro

The EUR/USD had a negative day on Thursday. The price continued losing its value during the day. The pair tested the level 1.0500 in the early trades. After a brief pause sellers moved lower and extended their gains to 1.0400. The resistance is seen at 1.0450, the support is at 1.0400.

We believe a break below 1.0400 will trigger another leg lower. Sellers may lead prices to 1.0350.

16_12_2016_eurusd

Pound

The U.S. currency maintained control of the flows on Thursday. The pound had a sharp drop below the support 1.2500 and extended its losses to 1.2400. The current resistance is seen at 1.2500, the support exists at 1.2400.

A break below 1.2400 will extend the current downward momentum. The price may fall to the 1.2300 level.

16_12_2016_gbpusd

Yen

The upward trend remained intact on Thursday. The pair formed a higher high at 118.60 and rolled back to 118.00 afterwards. The resistance is at 118.00, the support comes in at 117.00.

After breaking 118.00 the pair may extend its gains towards 119.00.

16_12_2016_usdjpy

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