The EURUSD Trading With a Positive Sentiment
Before Christmas many are busy with purchases for a festive table, so there is almost nobody who trades in Forex. Therefore, many exchange instruments without a pointing hand of a speculator almost stuck near opening levels. The EURUSD slowly rose to resistance around the level of 1.3709 and then also in an unhurried manner returned to support at 1.3676. Under conditions of a narrow market price fluctuations usually are not taken into consideration, so at this stage it can be said that the overall picture in the pair remains unchanged. A positive sentiment remains but inability to break through and consolidate above the 37th figure will weaken the EURUSD bulls positions, but a fall of the support at 1.3620 will signal about a possible peak formation.
The GBPUSD Sticks in a Tight Range
There is also noting to add to the GBPUSD pair. Yesterday the pair was trading within a very tight range, limited by the levels of 1.6375 and 1.6329. Until now it is trading above the 63rd figure with a positive sentiment that allows the bulls to account on the resumption to current highs. A loss of this support will weaken their positions and will lead to a decline of the pair to 1.6200 -1.6173. Given the scale of growth in recent months, it is not the fact that a potential breakout of current highs will give the pair enough momentum to pass about a couple of figures.
The USDCHF Trading Between the 89th and the 90th Figures
The USDCHF was gradually declining to support around the level of 0.8923, after that it retreated to 0.8950. A rise above 0.8900 is a positive factor for the dollar, but it should continue rising and overcome 0.9000. Otherwise, pressure on the pair will strengthen and then the bears will try again to test current lows. Thus, at this stage there is a range, limited by the 89th and the 90th figures, an exit out of which, most likely, will determine the direction of movement.
The USDJPY May Correct Below
The USDJPY decreased to support around the level of 103.77 in a day and during the Tuesday`s Asian trading session has risen to 104.41. The pair is trading with a positive sentiment above the ascending support line. Its overbought can complicate an upward movement. Moreover, it can be the reason to take profit. In this case the pair will be under pressure and it will be declining. A loss of support around the 101.59 level will weaken a bearish impulse.
