23 Dec 2014
FX majors likely to remain intact until holidays – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team notes that the larger levels are likely to remain intact until volumes return into markets after the holidays.
Key Quotes
“Euro is near the yearly lows of 1.22. The overall trend in quarterly and monthly charts would turn very bearish as it closes near the lows and below 200-month moving average.”
“Pound-Dollar's remains near its range with drop below 1.5600 on low volumes inconclusive. Pound is likely to move back into the range which now expands to 1.5750-1.5550.”
“Dollar-Yen has been steadily drifting up and now above 120. Our expectations of range bound moves below 120 have been proven incorrect. Though this rally, on low volumes, remains a suspect 120.50 is the next resistance to reckon with. 119.00 is a good support in short term. Japan has a holiday today and the trading is likely to be much muted.”
Key Quotes
“Euro is near the yearly lows of 1.22. The overall trend in quarterly and monthly charts would turn very bearish as it closes near the lows and below 200-month moving average.”
“Pound-Dollar's remains near its range with drop below 1.5600 on low volumes inconclusive. Pound is likely to move back into the range which now expands to 1.5750-1.5550.”
“Dollar-Yen has been steadily drifting up and now above 120. Our expectations of range bound moves below 120 have been proven incorrect. Though this rally, on low volumes, remains a suspect 120.50 is the next resistance to reckon with. 119.00 is a good support in short term. Japan has a holiday today and the trading is likely to be much muted.”