Daily Perspective – 27/12/2018

With the banks open after the Christmas break we expect a bit of volatility in the markets. We have already seen this is the Asian session.

We are also looking keenly at the developments on the US Government shutdown as it has a potential to move the markets.

The key economic news to look at today are;

  • US CB Consumer Confidence with consensus at 133.7 against the previous of 135.7

With that in mind here are the important levels we are looking at on the pairs we are trading.

EURUSD

The 4Hr charts still show the pair is bearish, if the trend is to continue prices should hit the Support levels 78 – 100. There is a possibility of it dropping further to S138 or S161 if there is a deal ending the shutdown and a positive Consumer Confidence.

On the other hand, prices can test the daily pivot and soar to resistance levels of R38, R6

GBPUSD

The pair is also bearish, if the trend is to continue expect prices to go to S61 or S78.

However if the range is continuing prices will go up to R61 or R78 and we are not ruling out R100

USDJPY

With increased geopolitical uncertainty we are seeing the USDJPY continuing with a downward trend with prices likely to test the S38 level, if crosses it S78 is within reach.

On the contrary, if it continues with the bullish bias it has now, we are looking at price at R100 to R138

That’s it for the pairs we are looking at today. Stay calm. Stay green.

Leave a Comment

Are you SICK of loosing money and your mind trading?

Join traders like you and receive exclusive actionable trade ideas and resources that will help you extract money every day from the markets.