EUR/USD
Current level – 1.1080
Before we start with the analysis, we want to wish you Happy Holidays and inform you that the next daily analysis will be published on 27 December.
On Friday the pair broke the important support at 1.1110 and managed to reach the next important one at 1.1066. At the time of writing, the drop is expected to continue and the EUR/USD is set to test the aforementioned support yet again. If successful, the negative trend should continue and the pair could reach the important support at 1.0890 if downward momentum increases. In upward direction, the first resistance is the level around 1.1109
USD/JPY
Current level – 109.37
The pair has been trading in the narrow range between 109.68 and 109.20 during the past week, with expectations being rather negative for the dollar. These expectations are fueled by the several unsuccessful tests of the important resistance at 109.68 last week. The first important support is precisely the lower border of the range – 109.20. If the USD/JPY breaks through, the pair should test the next important support at 108.90.
GBP/USD
Current level – 1.3009
The pound failed to break through the important resistance in the 1.3060 – 1.3100 area and continues to lose ground against the US dollar. The negative trend is expected to continue and the pound could lose even more value as the Brexit deadline approaches. An important support to be tested is 1.2970, and if the Cable manages to break through and close below it on a daily basis, further sell-offs become more probable..
EUGERMANY30
Current level – 13310
The index continues to perform well and keeps its value close to record levels. The prognosis is for the positive performance to continue towards the resistance levels at 13373 and 13424. A corrective move towards 13180 is not excluded, but the rally should continue while the EUGERMANY30 is above the aforementioned levels.
US30
Current level – 28486
On Friday the index again hit record highs reaching 28519 and it looks like this trend will continue. There may be little consolidation or a minor correction, but while the index is above key support at 28180, expectations are positive for the uptrend and new record levels.
