Euro stabilizes above moving averages 20 and 50 along with stability above support line near 38.2% Fibonacci at 1.0930.
A negative appears on ADX, which contradicts with the previous signals.
Hence, we remain neutral to see whether a four-hour closing will be achieved above 1.0990 or below 1.0930 to pinpoint the next big move.
Support: 1.0930 – 1.0890 – 1.0850
Resistance: 1.0990 –1.1030 – 1.1060
Direction: Sideways
The USD/CHF pair has found support above 38.2% Fibonacci level and is currently touching SMA20.
However, the pair trades below moving averages, which offers signs of contradiction amid lack of liquids due to the year-end vacations.
Therefore, we will be on the sidelines; noting that, a break below 0.9800 is negative, while stability above 0.9950 followed by 1.0000 psychological may assist the pair to start 2016 bullishly.
Support: 0.9850-0.9805-0.9775
Resistance: 0.9905-0.9950-0.9975
Direction: Sideways
USD/JPY has showed signs of bearish tendencies after testing areas just below 50% Fibonacci, but the trading range is very tight.
A break below 120.00 psychological may activate new descending actions, reinforced by the coverage from moving averages and solidity of 50% level.
However, we will not be involved in any positions now due to the vacations’ circumstances.
Support: 120.35-120.00-119.65
Resistance: 121.00- 121.40-121.70
Direction: Bearish, but we will avoid trading due to lackluster of liquidity.
The low liquidity conditions amid Christmas didn’t offer any new signal on GBP/USD, as the pair hovers around 1.4890 between moving averages.
A four-hour closing above 1.4935 is positive, while coming below 1.4885 is negative. Anyway, the weakness remain appearing on ADX and RSI.
Support: 1.4890 – 1.4835 – 1.4795
Resistance: 1.4935 – 1.4965 – 1.5025
Direction: Sideways