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CURRENCIES TECHNICAL ANALYSIS January.5

Euro

The market sentiment is still bullish. The euro reversed all its recent losses and almost reached 1.2100 when the upward momentum faded. The resistance resides at 1.2050, the support comes in at 1.2000.

After breaking the 1.2050 hurdle the level 1.2100 became the next bulls’ target. A failure to continue growth may send this market to the 1.1950 area.

 

Pound

Buyers failed to build a correction. The recovery move stalled in the 1.3550 region where buyers lost control and the pair stopped its growth. Sellers fought back control after that and started to advance the sterling towards the 1.3500 – 1.3470 support area. The resistance lies at 1.3600, the support comes in at 1.3500. .

If the pair does not change its course the pound may test the 1.3500 – 1.3470 support area in the coming sessions.

 

USD/JPY

Buyers managed to break through the 50 and 100 EMAs which blocked the way towards 113.00. They could regain the level afterwards and headed towards the 113.50 region. The resistance lies at 114.00, the support comes in at 113.00.

After breaking the 113.00 hurdle buyers need to regain the 113.50 mark to extend their gains. A successful break through the mentioned mark will open the way towards 114.00.

 

GBP/JPY  

The trend is clearly bullish for now. A buying momentum around the pound lifted the GBP/JPY pair to the 153.00 level which was broken in the night. Buyers moved the spot further after that and posted a weekly high at 153.50. The resistance lies at 154.00, the support is at 153.00.

In the scenario where the buyers keep control the pair will advance to the level 154.00.

 

EUR/JPY

The bullish sentiment in euro remained mostly intact on Friday. Previously, the single currency caught a fresh bid-wave and regained the 136.00 resistance level. Buyers almost reached 136.50 afterwards when they suddenly lost momentum. As a result, the pair stopped a few pips below the 136.50 hurdle. The resistance lies at 136.50, the support is at 136.00.

As the most probable scenario, we consider further moving upwards towards the mark at 136.70.

 

NZD/USD

The pair remained in an uptrend. The Kiwi spiked higher on Thursday and managed to reach 0.7150. The major just touched the level and remained in its region afterwards. The resistance is at 0.7150, the support stands 0.7100.

The level 0.7150 stopped bulls’ advance. A cut through here will turn attention to the 0.7200 level.

 

DAX

DAX continued its recovery on Friday. Buyers broke through 13200 and headed towards 13300 after that. The resistance lies at 13300, the support exists at 13200.

DAX is likely to test 13300 in the upcoming sessions.

 

NASDAQ

NASDAQ made a good break through 6580 and advanced up to 6610 where the benchmark's upside lost some vigour. Nevertheless, the bullish momentum was strong enough and kept the index around its fresh highs. The resistance lies at 6620, the support exists in at 6580.

We believe that this is essentially a “buy only” market at the moment. Buyers most likely will attack 6620 again. If they gather enough steam they could reclaim the level this time.

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