Technical Analysis

Support and Resistance for Dec 15 2017 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.1950 1.3470 113.70 0.7800 24750 1267.50
Resistance 2 1.1905 1.3440 113.05 0.7740 24700 1265.00
Resistance 1 1.1850 1.3400 112.40 0.7705 24640 1262.50
Market 1.1805 1.3375 112.19 0.7675 24615 1260.00
Support 1 1.1780 1.3340 112.00 0.7650 24600 1257.50
Support 2 1.1720 1.3305 111.40 0.7605 24540 1255.00
Support 3 1.1700 1.3270 111.00 0.7570 24500 1252.50
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Market Review for December 15 2017

European Central Bank President Mario Draghi spoke at a press conference in Frankfurt, Germany, following the central bank's monetary policy decision.

The ECB decided Thursday keep its monetary policy unchanged and said that it would keep rates at current levels until "well past" the end of net asset purchases.

Analysts expected the institution to reconfirm its main messages from its previous meeting in October. In that meeting, the ECB said it would cut the level of bond purchases each month, but extend the length of time that its quantitative easing (QE) program runs.

On Thursday, the bank revised upwards its inflation forecast for next year to 1.4 percent.

In terms of growth, the ECB estimated in September a GDP (gross domestic product) rate of 2.2 percent for this year and 1.8 percent in 2018. This has now been revised upwards to 2.4 percent in 2017 and 2.3 percent in 2018.

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Support and Resistance for Dec 15, 2017 - European Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.1905 1.3550 113.70 0.7800 24700 1265.00
Resistance 2 1.1850 1.3505 113.05 0.7740 24640 1262.50
Resistance 1 1.1805 1.3450 112.40 0.7705 24600 1260.00
Market 1.1785 1.3430 112.13 0.7687 24570 1257.00
Support 1 1.1780 1.3400 112.00 0.7650 24540 1255.00
Support 2 1.1720 1.3370 111.40 0.7605 24500 1252.50
Support 3 1.1700 1.3340 111.00 0.7570 24450 1250.00
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Support and Resistance for Dec 14 2017 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.1950 1.3550 114.00 0.7800 24800 1262.50
Resistance 2 1.1905 1.3505 113.70 0.7740 24740 1260.00
Resistance 1 1.1850 1.3450 113.05 0.7705 24700 1257.50
Market 1.1815 1.3415 112.71 0.7658 24658 1254.00
Support 1 1.1805 1.3400 112.40 0.7650 24640 1252.50
Support 2 1.1780 1.3370 112.00 0.7605 24600 1250.00
Support 3 1.1720 1.3340 111.40 0.7570 24550 1247.50
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Market Review for December 14 2017

The Federal Reserve raised interest rates on Wednesday but left its rate outlook for the coming years unchanged even as policymakers projected a short-term jump in U.S. economic growth from the Trump administration’s proposed tax cuts.

The rate increase represented a victory for a central bank that has struggled at times to deliver on its promised pace of monetary tightening. It also allowed Fed Chair Janet Yellen, at her final press conference before her term ends in February, to signal an all-clear for the U.S. economy a decade after the onset of the 2007-2009 recession.

Yellen said the persistent shortfall of inflation from the Fed’s 2 percent goal was the major piece of “undone work” she was leaving for Powell to figure out.

In its justification for Wednesday’s rate increase, which was widely expected by financial markets, the Fed’s policy-setting committee cited “solid” economic growth and job gains.

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