Daily Perspective – 26/12/2018

As the year comes to an end with the holiday season at it’s peak expect a quiet trading through all sessions.

We are looking at a ranging market as most of the banks are on holiday.

The US government shutdown should have an impact on most USD based pairs not just today but over the coming days.

GBPUSD

GBPUSD perspective
On the 4Hour chart the pair is bullish. We are seeing prices testing 1.27267 – 1.27513 levels before it reverses back to the range or continues to 1.27911.

If price drops the daily pivot we expect it to sell off to 1.26470 – 1.26224 levels.

EURUSD –

The EURUSD is bearish reading from the 4Hour charts. We are looking at price hitting levels of 1 and 2.

Above the daily pivot – the blue line, we are looking at price going to levels 1 and 2.

USDCAD

The CAD is being dragged down by the dropping oil prices and from the charts there is no indication of the end of the bullish move yet. Although as you can see price is at a core over bought resistance level.

In the short term, there should be a retest at the red levels 1 and 2. On other hand a move up to blue 1 and 2 can be expected.

Since it is a holiday season expect both quiet and random volatility.

Wishing you a great trading day.

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