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GBP and CHF - rates remain unchanged

On Thursday there was the meeting of the Central Bank of Switzerland, which surprisingly kept its interest rate of -0.75%. The Swiss franc rose against the euro to 1.0806, but fell against the dollar to 0.9877.

From the meeting of the Bank of England became clear that the main interest rate in the country remained at 0.5%, only one of the board members voted for an increase to 0.75%. Last month, from a statement by Mark Carney became clear that interest rates could be kept unchanged for a long time. The pound rose against the euro but recorded losses against the dollar to 1.5158 and Japanese yen to 184.23.

Strong growth of the euro against the US dollar on Wednesday

The single currency rose above 1.10 against the dollar for the first time in a month as investors prepare for a possible increase in interest rates in the US, according to surveys already has nearly a 90% chance to occur.
The currency pair EUR/USD climbed to 1.1023, increasing 1.23% for the day. The daily range was between 1.0879 and 1.1042. Last week the euro has climbed up by over 5% against the US dollar. The single currency rose against the Australian dollar and the Swiss franc and 1.5246 respectively and 1.0837.

Daily technical analysis for December/9

EUR/USD

The single currency registered an increase against the dollar on Tuesday. The session started at 1.0836 and ended 54 pips higher. After steady upward movement the price managed to break the first resistance at 1.0854. If the couple justify positive expectations, the price will continue its upward movement.

Support: 1.0854; 1.0676; 1.0548;

Resistance: 1.0975;

GBP/USD

The pair continued to lose value for the third consecutive session on Tuesday. The pound lost 48 pips and ended at a price of 1.5006. The graphics continue to develop under the moving average, while the relative strength index remained in neutral territory. The outlook remains negative and immediate goal appears to 1.4877.

Support: 1.4877;

Resistance: 1.5017; 1.5125; 1.5230;

USD/JPY

The dollar recorded a slight decrease against the Japanese Yen on Tuesday. The pair opened at a rate of 123.35 and finished 43 pips lower. The graph moves below moving averages, while the relative strength index remained in neutral territory. If prices continue to fall, the pair will test the first support at 122.61.

Support: 122.61; 121.50; 120.85;

Resistance: 123.67;

Goldman Sachs still expect parity in EUR/USD

The forex strategists of Goldman Sachs revised upwards their forecast for the euro, but still expect it to reach parity with the dollar in the next 12 months.
However, the downward movement will not be as steep as it was assumed before the meeting of the European Central Bank in early December.

From Goldman Sachs reviewed quarterly expectations for EUR/USD of $1.02 to $1.07, semi - from $1.00 to $1.05, and 12-month - from $0.95 to $1.00.

In EUR/GBP quarterly, six-month and 12-month forecast was revised from £0.69 of £0.71, from £0.67 of £0.70 and £0.65 of £0.68. At the end of 2017 the expected level is £0.65, instead of the previously computed £0.57.

In EUR/CHF the forecast for the end of 2017 has been revised upwards by SFr1.10 to SFr1.15.

Daily technical analysis for GBP/USD for December 7-th

GBP/USD remains in a sideways movement.

We expect a tense week for the multitude of news from the UK. The most important will be the decision on interest rates. Interest rate expectations are unchanged, but we'll get more clear details about the led monetary policy. This will give us any clearness when we can expect an increase.

On Saturday David Cameron has expressed concerns that he may need to start a campaign for exit of the UK from the European Union. This would happen if the negotiations with Brussels fail.

Important news from the UK:
Monday 17:00 (Speech by M. Carney)
Tuesday 11:30 (industrial production)
Thursday 11:30 (Balance), 14:00 (Decision of Interest)

The rise we see on the daily chart, stopped on the middle line of Bollinger. It seems the bulls regroup to test the top from the Thursday of 1.5158. Crossing and closing above this level and above the trend line that connects the last two maximums,  will show us that the rise is likely to continue. There is a esistance round the level of 1.5200.

Morgan Stanley: Sell EUR/USD after the Fed meeting

The European Central Bank disappointed markets by lowering rates on deposits with 0.10% and extending the program for acquisition of assets, but does not increase its volume. There wasn't even a hint that interest rates will continue to fall, noted forex strategist at Morgan Stanley.
EUR/USD will probably record an upward movement by the meeting of the Federal Reserve in mid-December, which will liquidate part of recently accumulated short positions. Bullish factor is the lack of expectations for new stimulus in the Eurozone.
In the medium term, however, experts of Morgan Stanley remain bearish on the united currency and plan to resume purchases of dollars after the Fed meeting. After the new reduction in rates, the role of the euro as a funding currency will strengthen, according to the strategists.

Daily technical analysis for December 3-d

EUR/USD

EUR/USD recorded moderate losses on Wednesday after a relatively volatile session. The pair traded within outliers at 1.0635 and 1.0551, and ultimately the euro lost 20 pips to a closing price of 1.0612. Currently, the prospects seem neutral, the movement managed to establish a range within 1.0640 and 1.0560. A break of one of the levels will suggest a prevailing sentiment.

Support: 1.0560; 1.0520; 1.0460;

Resistance:: 1.0640; 1.0690; 1.0805;

GBP/USD

The British pound broke a two-day winning streak yesterday, recording a significant losses against the dollar. The pair failed to overcome the levels at 1.5100, which led it 130 pips lower at a price of 1.4950. A bottom for the session noted at 1.4897, which was the lowest value since the end of April. The index of relative strength and moving averages confirm the dominance of the bears.

Support: 1.4910; 1.4830;

Resistance:: 1.4990; 1.5105; 1.5230;

USD/JPY

The pair recorded growth on Wednesday, and the dollar managed to add 38 pips to the opening price of 123.23. The session was held in the extreme values at 123.66 and 122.82. The price went above the average values, while the index of relative strength gain positions, but the couple could not overcome the upper limit of its recent range.

Support: 122.20; 121.30; 120.05;

Resistance:: 123.75; 124.50; 125.30;

Technical analysis of the EUR/USD for December 2-nd

EUR/USD

EUR/USD had a bullish momentum yesterday, topped at 1.0637. The signals are up at short term for testing 1.0650 and the resistance trend line, which is a good place for short positions with targets near 1.0500 with tight stop losses over the trend line, as you can see in the hourly graphics. We have immediate support at 1.0600. A clear break above that area could lead price to neutral trading zone testing 1.0550 or lower. On the upside, a clear break and daily close above the resistance trend line could trigger further upside correction and testing of the key resistance 1.0800. The fundamental focus will be on Draghi press conference tomorrow and employment data from the US on Friday.

Technical analysis of the EUR/USD for December 1-st

EUR/USD

Euro/dollar was volatile last week, but overall still manages to retain the bearish signals, moving below the trend line of the resistance and below the 200 EMA, as seen on the hourly chart. My expectations are neutral for now. We see intraday support around 1.0565, with potential double bottom formation. A clear break below that area should trigger further bearish pressure testing 1.0500. Resistance for the day is 1.0605, whose breach could cause upside pressure testing the trend line resistance and the 1.0650 - 1.0700  region, which remains a good place for sales with tight stops losses over the trend line with target - 1.0500. The CCI(14) indicator also gives a strong signal for sales. Basically I stay in the camp of bears.