MARKET BRIEFING – LONDON OPEN 31.12.2015
With much of Europe closed today, we expect trading volumes to be light on the last day of 2015.
There are official bank holidays in Germany, Japan, New Zealand and Australia and this should limit activity in the Euro, Japanese Yen, Australian and New Zealand Dollars.
Although London is open, the normal course of business is for trading rooms to square up positions in the morning and for the banks to close early.
It will be up to New York to close Thursday’s and the year’s business. The Department of Labor will publish its final weekly Unemployment Claims data. However with the Federal Reserve having already given its decision on interest rates, it is doubtful that the Federal Reserve Chairwoman, Janet Yellen will interrupt her well-deserved festive break.
On that note, ACFX would like to wish all our clients and partners a prosperous and happy new year.
EURUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.1015
Target 2: 1.0850
Projected range in ATR’s: 0.0085
Daily control level: 1.0945
GBPUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.4905
Target 2: 1.4715
Projected range in ATR’s: 0.0096
Daily control level: 1.4790
USDJPY
The intraday technical outlook
Trend 1 hour: Up
Target 1: 121.35
Target 2: 119.70
Projected range in ATR’s: 0.84
Daily control level: 120.15
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.9965
Target 2: 0.9805
Projected range in ATR’s: 0.0081
Daily control level: 0.9855
USDCAD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.3980
Target 2: 1.3775
Projected range in ATR’s: 0.0104
Daily control level: 1.3940
AUDUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.7355
Target 2: 0.7210
Projected range in ATR’s: 0.0075
Daily control level: 0.7265
GOLD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1073.50
Target 2: 1048.50
Projected range in ATR’s: 12.55
Daily control level: 1072.00
OIL
The intraday technical outlook
Trend 1 hour: Down
Target 1: 38.60
Target 2: 36.00
Projected range in ATR’s: 1.27
Daily control level: 38.40
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