EUR/USD
The pair moved very little during the Friday’s session as it hovered around the 118.50 level. The lack of liquidity in the market due to the holiday season and traders started to square-off their positions before the year-end is making this market very noisy on last several sessions. The market is likely to continue to go higher because of the bullish flag it has formed on the weekly chart. The 1.20 level is going to be massively resistive for the pair to cross above and 1.17 level is acting as a floor of this market. …Read More
GBP/USD
The market went sideways through most of the Friday’s session hovering just above the 1.3333 level. This level is a strong support zone for the pair and is likely to get a bounce from here towards 1.35 level. The lack of liquidity will make this market a bit noisy and volatile. Buy on dips will be the right strategy to play this market right. A break below 1.33 level will send this market further lower towards the 1.31 level. …Read More
AUD/USD
The AUD rallied a bit during the Friday’s session but the momentum was missing to take it further higher because of the lack of volume ahead of holiday season. The 0.78 level is going to be massively resistive and the 0.80 level even more. The lack of support from the gold prices is limiting any huge upside movements in the market. If this market breaks below the 0.7650 level, then the market will break down to the 0.75 level. …Read More
USD/JPY
The pair traded on a very silent note on Friday’s session as traders were away ahead of Christmas celebration. The market continued to grind around the 113.25 level and is likely to get a slight pullback to build enough momentum to break above. The huge interest rate difference between the two economies will continue to favour the USD in long term. A break above 115 level will be very bullish for the market. …Read More
This article was originally posted on FX Empire