FxPro Signals

Daily Technical Report (18 Dec 2015) :
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Back to key support.
• Gold's downside momentum keeps going.
Strong support area is given by the hourly
support at 1046 (03/12/2015 low) and by key
support at 1044 (05/02/2015 low). Hourly
resistance is given at 1110 (06/11/2015 high).
Expected to show further weakness.
• In the long-term, the underlying downtrend
(see declining channel) continues to favour a
bearish bias. A break of the resistance at 1223 is
needed to suggest something more than a
temporary rebound. A major support can be
found at 1045 (05/02/2010 low).

Daily Technical Report (18 Dec 2015) :
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Sharply declining.
• EUR/JPY is now pushing strongly lower. Hourly
resistance lies at 134.60 (04/12/2015 high).
Stronger resistance is located at 137.45
(17/09/2015 high). Hourly support lies at 129.67
(27/11/2015 low). The technical structure still
suggests a downside momentum. Expected to
show further decline.
• In the longer term, the break of the support at
130.15 validates a medium-term succession of
lower highs and lower lows. As a result, the
resistance at 149.78 (08/12/2014 high) has likely
marked the end of the rise that started in July
2012. Key supports stand at 124.97 (13/06/2013
low) and 118.73 (25/02/2013 low). A key
resistance can be found at 141.06 (04/06/2015
high).

Daily Technical Report (18 Dec 2015) :
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Holding below parity.
• USD/CHF is rising toward hourly resistance at
1.0034 (04/12/2015 high). Hourly support can be
found at 0.9786 (14/12/2015 low). Yet, the shortterm
technical structure shows an upside move.
Expected to show further consolidation.
• In the long-term, the pair has broken resistance
at 0.9448 and key resistance at 0.9957
suggesting further uptrend. Key support can be
found 0.8986 (30/01/2015 low). As long as these
levels hold, a long term bullish bias is favoured.

Daily Technical Report (18 Dec 2015) :
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Riding downtrend channel.
• GBP/USD's medium-term downside
momentum remains lively. The pair is riding the
downtrend channel. Hourly resistance is given at
1.5242 (13/12/2015 high). Stronger resistance can
be found at 1.5336 (19/11/2015 high). Hourly
support at 1.4985 (02/12/2015 low) has been
broken. Expected to further bounce back.
• The long-term technical pattern is negative
and favours a further decline towards the key
support at 1.5089 , as long as prices remain
below the resistance at 1.5340/64 (04/11/2015
low see also the 200 day moving average).
However, the general oversold conditions and
the recent pick-up in buying interest pave the
way for a rebound.