December is particularly volatile
for non-key pairs and therefore we do not recommend trading on non-major
currencies or indices and only trading on major pairs during that period
This year's closures are very
important, on the one hand, the closing of the Dollar index will be very
important for determining the general trend in the first months of next year
The GBPUSD closures will also be
very important to determine the confidence of traders in the recovery of the
currency
The Euro is not expected to
witness a major impact during the coming period. There are no significant
events impeding its movement and it is expected that the movement will remain
confined below 1.19 levels for a period which we will be able to confirm from
our far targets at 1.3 next year.
Gold also proved to be a safe
haven despite loud talk about digital currencies and their impact but gold
keeps its chance to rise to about 1400 over the next year
Expected targets during 2018
GBP USD
Our bet remains at 1.4 levels over
the next year and so far trading above 1.3 supports our view of 1.4
GBP JPY
Current trades at 148 levels
support our view of targeting 155 levels next year
EUR USD
Trading above 1.16 so far supports
our view of targeting 1.3 levels through 2018
Gold
Trading the first support level
(1220) supports our view of targeting 1400 levels in 2018. Gold may not hinder
the rise of the current 1300 barrier except to leak liquidity into indicators
and currencies
USD JPY
The pair remains the most
dangerous on the yen's side, not strong enough to threaten 103 levels, the
standard targets for sellers this year. On the other hand, the yen is not
showing a weakening weakness against the dollar, which is also weak enough to
meet buyers targets at 120
Therefore, we prefer to remain
neutral towards the JPY until the end of the year
EUR JPY
The Euro is trading at 130 levels
and is not retreating towards 128 levels, which supports our view targeting 135
levels in the coming year so we prefer to keep our positions open without
closing.
Recommendations:
GBP USD
Buy down 1.33 stop loss at 1.28
and take profit 1.4
GBP JPY
Buy down 149.50 levels stop loss
at 147 take profit 155
EUR USD
Buy below 1.176 stop loss 1.158 take
profits 1.3
EUR JPY
Buy down 132 levels Stop Loss 129 take
Profit 135
Gold
Buy below 1260 levels Stop Loss
1200 Take Profit 1400
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