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Mini Rally for Last Friday of 2019. EUR/USD, GBP/USD, USD/JPY

Dec 28 2019, 04:13 PM (+06) | OlympTrade.com

EUR/USD on a Daily TF is having a bullish last Friday of 2019. The pair has reached our first and second resistance targets, the price is currently above the 50% Fibo level and global trend line down. The pair broke above 200 EMA and currently trading around 1.11623. The moves may be due to end of year profit taking. 

Parabolic SAR is still pointing down. MACD line has intersected the signal line up and we have the beginning of a bullish histogram. 

The next resistance target is around 1.11747, followed by 1.11996 and then 1.12086.   

Support will be around 1.10663, S2 1.10393, S3 23.6% Fibo 1.10049.   

 

GBP/USD on a Daily TF is also seeing gains toward the end of the last full trading week. The pair met our first resistance target and broke above the 13 EMA, the pair is currently trading around 1.31090. MACD bearish histogram is decreasing, DMI is registering an uptrend (26.0388). 

Resistance: R1 50% Fibo 1.31675, R2 1.33327. 

Support: S1 48 EMA 1.29393, S2 1.27793, S3 1.26055. 

USD/JPY on the Daily TF experienced some movement earlier in the day with the release of better than expected Industrial Production which recovered from -4.5% in October to -0.9% in November and the Unemployment Rate dropped to 2.2%, which is below the forecast and previous fact of 2.4%. 

MACD remains bullish, Parabolic SAR as well as 13 and 48 EMA are all pointing up. 

Resistance: R1 109.624, R2 109.900, R3 110.244.

Support: S1 13 EMA 109.333, S2 48 EMA 108.895. 

 

 

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