12 January 2015, EUR/USD
The euro fell against the dollar during the previous session. Besides the sentiments, formed amid the ECB policy, the eurozone economic statistics had impact on the Friday’s trades that showed mixed results. It is expected that the November industrial production will show a month increase and the year drop by 0.4% m/m, -0.6% y/y vs. 0.2% m/m, 0.8% y/y and the foreign trade results may show a surplus reduction in the same month to 19.4 billion from 20.6 billion euro.
The situation for the pair is not changed. Remaining under sellers’ pressure, the pair renewed the low, testing the level of 1.1740-1.1760, then rebounded above the resistance level of 1.1820-1.1840.
The support levels are 1.1800-1.1820, and the resistance levels are 1.1880-1.1900.
MACD is in a negative territory.
The interest on the growth sale still exists and with it the risks of continuing fall where the potential target can become the level of 1.1670-1.1690.
It is assumed that the November industrial production rose by 0.2% m/m and 1.6% y/y vs. -0.1% m/m, 1.1% y/y in October and the processing sector by 0.4% m/m and 2.3% y/y after -0.7% m/m, 1.7% y/y the previous month. After the deficit decrease we expect the trade balance at the level of -9.5 billion. against the previous -9.62 billion. pounds. The pair GBP/USD keeps the negative sentiment, tested the support around 1.5020-1.5040. Immediately bears could not break it through and after its testing the pair rebounded to the resistance around 1.5160-1.5180.
The support levels: 1.5080-1.5100 and the resistance levels: 1.5160-1.5180.
The MACD indicator is in a negative territory.
The risks of the support breakthrough still exist that may cause the level of 1.4970-1.4990 testing. The pair is heavily oversold, so its progress below can be difficult. Non-farms can cause the volatility spike within the pair.
The dollar fell against the Yen after the optimism appearance on the US and Japan stock markets. The November US leading and coincident economic indicators showed a decrease to 103.8 from 104.5 and to 108.9 from 109.9, respectively. The bulls attempts to break through the120th figure were unsuccessful within the dollar/yen. Their inability to break through led to the rebound below the support near 119.05-119.25 where demand for the pair is preserved.
The support levels: 117.95-118.15, and the resistance levels: 119.05-119.25.
The MACD indicator is in a neutral territory.
The loss of the support near 117.95-118.15 may cause a reduction to 119.25-119.45. For the growth resumption the dollar must rise up and consolidate above the 120-th figure.