Market Analysis 4 January 2018

The first week of the current year 2018 has witnessed a sideways movement without a clear direction so far while nothing strange happened on price movements during that period. Below are our expectations for the movement of currency pairs during the rest of the week


Euro Yen
Stronger resistance is at 136.20 while stronger support is at 134.10
Sales and purchases can be made as follows
Buy from 134.80 to take profit 135.85 stop loss 134.40
Sell from levels 135.85 Profit taking 135.10 Stop loss 136.20

EURUSD
The EURUSD is expected to fall in the coming hours as a result of the recent Fed meeting and we may test the levels of 1.1987 and 1.188 where buying from these levels can be opened with profit levels at 1.2117 and a loss at 1.183

GBP / USD
GBP / USD is expected to fall in the coming hours as a result of the recent Fed meeting and we may test the levels of 1.342 and 1.334 where buying from these levels can be opened with profit levels at 1.365 and 1.370 and a loss at 1.32

USDJPY
USDJPY started to form bullish price behavior and can enter into buying from 112.40 with 113 profit levels and a loss at 112

Gold
Gold can be bought from key support levels at 1292 and 1280 with a stop loss at 1240 and a profit at 1330

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Market Analysis 4 January 2018 Market Analysis 4 January 2018 Reviewed by DR HISHAM M YOUNES on January 03, 2018 Rating: 5

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