XtreamForex Market Analysis

XtreamForex Analysis
XTREAMFOREX DAILY NEWS
Published Date: 2018-12-05 07:07:47

XTREAMFOREX DAILY NEWS

Technical Overview of EUR/USD, GBP/USD and USD/JPY Currency Pairs

EUR USD

The EUR traded lower against the USD and closed at 1.1341

The positive momentum in high-yielding assets triggered by weekend news related to the trade war was faded throughout the day, with most major indexes closing in the red.Need to monitor ECB president Draghi’s Speech and its impact on the prices of Eur.

According to the Analysis, The pair is expected to find support at 1.13005, and a fall through could take it to the next support level of 1.12572. The pair is expected to find its first resistance at 1.14000, and a rise through could take it to the next resistance level of 1.14586. Precious Day range was 99.5 and Current Day Range is 23.1

GBP USD


The GBP traded lower against the USD and closed at 1.2711, after the Services Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by firms in the services sector throughout the country. According to the news, reading is above fifty which means service sector is expanding, but lower than expected forecast (53.3, 52.2) which is bearish for GBP.

The pair is expected to find support at 1.2686, and a fall through could take it to the next support level of 1.2669. The pair is expected to find its first resistance at 1.28122, and a rise through could take it to the next resistance level of 1.29147.

 

GBP/USD previous Day range was 180.1 and Current Day Range is 40.1

USD JPY


The USD strengthened 0.22% against the JPY and closed at 112.771.

The Japanese Yen has benefitted this week from a surge in risk aversion which has seen USD/JPY retreat all the way back down to the dominant uptrend line.

The pair is expected to find support at 112.343, and a fall through could take it to the next support level of 111.908. The pair is expected to find its first resistance at 113.422, and a rise through could take it to the next resistance level of 114.078.