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Cryptographic Update: Coins extend gains when Ethereum reaches a maximum of one month

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Well Current value Daily change
EUR / USD 1.1406 0.32%
GBP / USD 1.2705 0.64%
USD / JPY 110.32 -0.79%
AUD / USD .7049 0.25%
GOLD 1,273 1.11%
WTI Crude Oil 42.42 -6.61%
BTC / USD 4,060 2.96%

This year, bears have received an unusual Christmas gift from the market, as the risk trend has continued in earnest today in all asset classes. Last week's sharp decline in shares increased considerably today during the shortened session during the holidays, and almost all the major global indices closed on the new bear / correction market lows.

For currencies, this meant a clear bias against the Japanese Yen, the main safe-haven currency, and the Yen is currently trading at the highest levels against most of its peers since August. Gold is also trading on new multi-month highs against almost all major currencies, surpassing the $ 1270 level for the first time since June.

Elsewhere, the dollar should erase its weakness as the growing tensions between Donald Trump and Fed chairman Jerome Powell weighed on the reserve currency, despite the general risk trend on the financial markets. While tomorrow, almost all the main markets will be closed, the rest of the week could continue to bring fireworks, with one of the worst appointments in December ending with a volatile note for the bulls.

Technical analysis

USD / JPY, 4 hour chart analysis

USD / JPY has approached to hit level 110 during today's sharp drop, and it is also snowing near the August low. The global bearish exchange rate will likely continue to increase in the yen, but as we expect the dollar to reach an offer in January, the pair could consolidate near the August low, before probably challenging the 108 level in the coming months. The strong resistance zones are close to 111.50 and between 112 and 112.50 and operators should sell rallies in the pair.

Futures S & P 500, analysis of the 4-hour chart

The rankings of the major US equity indices are not cute and the sell-off of over 10% this month has pushed all the benchmarks into bear market territory, following the path of China, Europe and emerging markets. The US financial sector is particularly weak, amid deep Treasury yields, and this weighs heavily on the S & P 500 debt, which closed near $ 2350, the lowest level since mid-2017.

The index is now clearly below the February low, and although a new test of these levels is likely given the short-term momentum readings, the technicians clearly pass to a bear market and the market internals continue to confirm the ample sale.

EUR / USD, 4 hour chart analysis

EUR / USD drifted in a relatively active trade despite the shortened sessions and the initial holiday period, and the euro managed to return above 1.14, even though it remains stuck under the 1-resistance, 4440, with the clearly negative long-term trend.

We continue to advise short-term traders to stay out of the most traded pair, as the unstable consolidation pattern remains intact and, although the long-term trend is stable, short-term wild fluctuations may be ahead in both directions.

Gold futures, 4-hour chart analysis

Gold continued to perform in line with the risk-off exchange, hitting a new swing above the $ 1270 level, confirming once again the key trend change in the precious metal. The short-term uptrend is now clearly established and we expect a step toward the $ 1300 level in the coming weeks, although volatile setbacks are possible given the fragile state of global financial markets, with long-term fundamentals on the side of the gold bulldoes as well.



GBP / USD, 4 hour chart analysis

EUR / GBP, 4-hour chart analysis

AUD / USD, 4 hour chart analysis

EUR / JPY, 4 hour chart analysis

AUD / JPY, 4 hour chart analysis

GBP / JPY, 4 hour chart analysis

USD / CHF, 4 hour chart analysis

USD / CNH, 4 hour chart analysis


WTI Crude Oil, analysis of the 4-hour chart

Copper futures, analysis of the 4-hour chart

Major stock indices

DAX 30 Index CFD, analysis of the 4-hour chart

Nikkei 225 Futures, 4-hour chart analysis

Shanghai Composite Index CFD, 4 hour chart analysis

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