Wednesday 13 January 2016

Daily technical forecast for January/13

EUR/USD

The euro started the 2015 with a break below the psychological level at 1.20. The price rebounded from a 12-year low at 1.0465. In a case of breakthrough of this level, the pair should meet a support at 1.0240 and 1.0090 - low of 07/2002. In the case that the direction of movement is reversed, a strong resistance can be expected at 1.1180, 1.1490 and 1.1760.

Support: 1.0805; 1.0690; 1.0560;
Resistance: 1.0995; 1.1105;



GBP/USD

The pair renewed its downward direction during yesterday's session and the pound recorded substantial losses against the dollar. The British currency dropped nearly 95 pips to a closing price of 1.4445, having traded within the values ​​1.4559 and 1.4353. Current attitudes remain negative. If the pair holds below the figure at 1.4400 on a daily basis, the bearish sentiment will reinforce.

Support: 1.4465; 1.4410; 1.4345;
Resistance: 1.4505; 1.4635; 1.4795;



USD/JPY

The pair remains in consolidation after the strong gains on Monday as the dollar managed to record a fall of 11 pips to a closing price of 117.63. Psychological barrier at 118.00 for a second day stops the rise of the couple. Risks to the USD/JPY remains on the downside, but eventual break of yesterday's low, followed by 118.80 will contribute to positive attitudes.

Support: 116.25; 115.40;
Resistance: 118.80; 120.05; 121.30;


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