Daily Perspective – 31/12/2018

Today is the last trading day of the year 2018. I am hoping you you are taking lessons and reviewing your trading year to better your results in 2019.

As we end the year, here is our perspective of how the markets will perform on the pairs we are trading today.

Overall we are looking at a quiet trading day as most traders head out for end of year activities.

EURUSD

We are still bullish on the EURUSD until progress is made on the opening up of the government and seeing prices at 1.14747-1.14930.

On the flip side prices could drop to Support levels S61-S100

GBPUSD

The pound could also see continued strengthening against the US dollar pushing prices to the resistance levels of R78.

A drop though could see prices testing S61 or S78 support levels.

USDCAD

The CAD has defied the continued weakening of the USD rattled by the political uncertainty in the US. Driven majorly by the falling oil prices.

Could this be the day we see a bit of the pair playing catch up? If it does then we can see prices drop to support levels S100-S200

A continued bullish trend would see a slight move to the resistance level R38-R61

Hope this helps in your trading planning and if you have not, take a look at this week’s trading perspective.

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