End of the year take profits supporting range trade.

Currencies back to trade in December range while a market behavior coordinating with the end of the year atmosphere. After reaching 1.3170 levels, EUR/USD is now trading again around 1.3300 levels, USD/JPY back to 84.00 and cable around 1.5630. US economic data was a support yesterday for the greenback but its look like a traders prefer not to take long positions at this stage and to use this range a bit more. US Philadelphia Fed Business conditions index came out on 24.3 in December, much higher above the expectations of 15.0 pints only. US housing data – housing starts increased to 555,000 units higher by 5,000 units than expected. After very busy week, today we don’t expect for important economic events, so keep follow technical range.

Technical Levels

EUR/USD

Range of 1.3180-1.3450 still in place. MACD with bullish momentum at positive levels. RSI at his overbought levels and not showing any signs of turning lower. Looks like a way to 1.3400 resistance might be an easy route.



USD/JPY

A strong resistance of 1.8450 still in a game - sell on failure. Hourly studies are negative. MACD might extend his bearish momentum and RSI still pointing lower close to oversold levels.



GBP/USD

Daily studies still negative. Next strong support at 1.5570 – Buy on failure. MACD showing good sign for turning back to his negative levels while close to establish a new bearish cross. RSI pointing down close to overbought levels.