Weekly Technical Analysis For December 31st, 2018 to January 4th, 2019

The Biggest trading event of the month! US Nonfarm Payrolls Is In Focus!

 

EUR/USD:

 


 

Looking ahead, this trading week will be huge for the US Dollar. We will pay attention to US Nonfarm Payrolls on Friday.

US Nonfarm Payrolls is expected to see 181K jobs created after rising 155K the previous month. The Unemployment Rate is expected to stay at 3.7% a 49-year low. Average hourly earnings will also be significant and are expected to be 0.3% higher than the previous month's number of 0.2% An upbeat employment report will point to an improving US Economy and support the greenback.

Other top-tier economic data due this week includes ADP private sector payrolls, as well as the ISM surveys on manufacturing and service sector activity.

Elsewhere, in what will be a quiet week for European economic data, investors will focus on a report on activity in the manufacturing sector.

The EURUSD pair pulled back below the key level of 1.1446. If the EURUSD pair stay below 1.1446, on four hourly basis, the fall may continue may continue and we will follow support levels at 1.1410 and 1.1367. On the other hand, if the price goes above 1.1446, the next resistance level can be found at 1.1.1484.

Support: 1.1446 – 1.1410 – 1.1367

Resistance: 1.1484 – 1.1531 – 1.1570

 

GBP/USD:

 

 

The GBPUSD pair is now trading below the daily level of 1.2712. As long as the price stays below 1.2712, on a daily basis, the rise may be limited and we will see 1.2623 as a support level. Although, if the price goes beyond 1.2712 again, the next resistance level will be at  1.2812.

Support: 1.2624 – 1.2494 - 1.2414

Resistance: 1.2712 –1.2845 –1.2873

 

USD/JPY :

 

 

If the USDJPY pair trades below 110.86, on a four hourly basis, the fall may continue and we will follow the support levels at 109.90 and 109.35. On the other hand, If the pair goes beyond 110.86, the next resistance level can be found at 111.66.

Support : 109.90 - 109.35 - 108.55

Resistance :  110.86 - 111.66 - 112.46

 

GOLD:

 

 

The GOLD Price closed last week above the daily support level of 1276. As long as the price stays above 1276, on a daily basis, the rise may continue. In this case, we will face 1283 and 1290 as resistance levels. On the other hand, if the price drops below 1276, the next support level will be at 1272.

Support : 1276 - 1272 - 1265

Resistance : 1283 - 1290 - 1306

30 Dec 18 (Sun)

10:45 pm


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