FX.co ★ Currency Markets Review (December 25, 2012)

EURUSD: The EURUSD traded indecisively on Monday: it first went up, and then fell down, both insignificantly. It can still be said that the bullish outlook is valid (in spite of the facts that it is being threatened), although the position of the RSI period 14 raises some worries. The price is below the resistance line of 1.3200.

USDCHF: Here too, the price on the USDCHF traded downwards insignificantly, before retracing upwards. Positions of the technical indicators still support a bearish outlook. The price still stays around the support level of 0.9150.

GBPUSD: The Cable continued its bearish plunge on Monday (December 24, 2012). Right now, there is a threat against any northward interest. The Williams’ % Range is already in the oversold situation, and should this instrument continue its downward plunge in the nearest future, it would render any northward interest ineffectual.

USDJPY: The USDJPY traded upwards in a serious manner. The price is still far above the EMA 11, as the RSI 14 period stays above the level 50. The price looks determined to reach the supply territory at 85.00.

EURJPY: The EURJPY is also in a bullish mode. The indicators and the price action clearly support this, especially as the price traded upwards on Monday. The price is determined to attack the supply zone at 112.000. This looks serious because if that price zone is eventually breached to the upside, the next target would be the supply zone at 112.50.