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
2017's
closures are very important, on the one hand, the closing of the Dollar index is
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 1.35 supports our view of 1.4
GBP JPY
Current trades at 150 levels support our view
of targeting 155 levels next year
EUR USD
Trading above 1.199 so far supports our view of
targeting 1.3 levels through 2018
Gold
Trading the first support level (1298) 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 133 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 1.35 stop loss at 1.28 and take profit
1.4
GBP JPY
Buy down 150.50 levels stop loss at 149 take
profit 155
EUR USD
Buy below 1.199 stop loss 1.185 take profits
1.3
EUR JPY
Buy down 133 levels Stop Loss 129 take Profit
135
Gold
Buy below 1297 levels Stop Loss 1200 Take
Profit 1400
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