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12.12.2017 12:46 PM
Indicator analysis. Daily review of EUR / USD and GBP / USD pairs on December 12, 2017

On Tuesday, the following strong calendar news comes out:

- 8.30 London time. GBP, consumer price index (CPI) (y / y) (Nov). The expected value is 3.0%, compared to the previous value is 3.0%;

- 9.00 London time. EUR, ZEW economic sentiment index in Germany (Dec.). The expected value is 18.0, compared to the previous value is 18.7;

- 12.30 London time. USD, producer price index (PPI) (m / m) (Nov) .The expected value is 0.4%, compared to the previous value of 0.4%;

- 18.00 London time. EUR, the speech of the head of the ECB Draghi (Oct.).

EUR / USD pair

Trend analysis (Figure 1)

On Monday, the price moved in the side channel in anticipation of strong news. In Tuesday, there may be a weak continuation of the upward movement. A complex analysis will more accurately determine where the price will go next.

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Fig. 1 (daily chart).

Indicator analysis on the daily schedule (Figure 2).

The system of ADX indicators (Figure 2).

On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined from the indicators of the oscillator type.

Stochastic indicator (period 3/3/4) on the daily chart gives an upward trend (Fig. 2).

The system of RSI indicators (Figure 2).

When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).

At the last day's closed candle.

The property calculation of the RSI indicator (5) gives an upward trend.

The property calculation of the RSI indicator (8) gives an upward trend.

Result: the system of indicators RSI gives an upward trend.

The property calculation of the CCI indicator gives an upward trend.

The bottom line: the CCI indicator system gives an upward trend.

The result of the indicator analysis: the price will have an upward trend.

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Fig. 2 (daily chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up (blue dotted line);

- volumes are neutral;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - down;

- Weekly schedule - up.

General conclusion.

On Tuesday, it is possible to move up with the first goal of 1.1819 (a retracement level of 38.2%).

GBP / USD pair

On Monday, the market moved down. On Tuesday, it is possible to continue moving down to the support line of 1.3325. A complex analysis will more accurately determine where the price will go next.

This image is no longer relevant

Fig. 1 (daily chart).

Indicator analysis on the daily schedule (Figure 2).

The system of ADX indicators (Figure 2).

On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined from the indicators of the oscillator type.

Stochastic indicator (period 3/3/4) on the daily chart gives a downward trend (Fig. 2).

The system of RSI indicators (Figure 2).

When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).

At the last day's closed candle.

The property calculation of the RSI indicator (5) gives a downward trend.

The property calculation of the RSI indicator (8) gives a downward trend.

The bottom line: the RSI indicator system gives a downward trend.

The property calculation of the CCI indicator gives a downward trend.

The bottom line: the CCI indicator system gives a downward trend.

The result of the indicator analysis: the price will have a downward trend.

This image is no longer relevant

Fig. 2 (daily chart).

Complex analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - upwards;

- candle analysis - neutral;

- trend analysis - down;

- Bollinger lines - up;

- Weekly schedule - down.

General conclusion:

On Tuesday, it is possible for the GBP/USD pair to move downward with the target of 1.3325. Then, the upward trend may begin.

Stefan Doll,
Analytical expert of InstaForex
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