Technical Analysis

Support and Resistance for December 14 2018 - European Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.1430 1.2740 114.80 0.7305 24500 1245.00
Resistance 2 1.1395 1.2680 114.40 0.7280 24450 1242.50
Resistance 1 1.1340 1.2620 113.80 0.7240 24400 1240.00
Market 1.1325 1.2585 113.55
0.7285 24340 1238.50
Support 1 1.1305 1.2540 112.70 0.7170 24300 1237.50
Support 2 1.1280 1.2500 112.20 0.7140 24240 1235.00
Support 3 1.1240 1.2470 111.50 0.7100 24200 1232.50
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Market Review for December 14 , 2018

U.S. stock index futures are trading lower early Friday, mostly in reaction to the weaker-than-expected economic data from China. The major cash market stock indexes finished mixed on Thursday during a choppy session as investors digested new developments in the ongoing U.S.-China trade dispute.
 The major Asian stock indexes are trading lower on Friday after China released a series of weaker-than-expected economic reports. The latest reports showed the world’s second largest economy is under pressure on both the global and domestic front. The weakness also highlights the impact the trade dispute with the U.S. is having on the economy along with the failure of policy efforts designed to stimulate the economy.

At 0437 GMT, Japan’s Nikkei 225 Index is trading 21496.27, down 319.92 or -1.47%. Hong Kong’s Hang Seng Index is at 26159.81, down 364.54 down -1.37%.

Australia’s S&P/ASX 200 is trading 5616.80, down 44.80 or -0.79%. China’s Shanghai Index is at 2619.07, down 14.98 or -0.57%.

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Support and Resistance for December 13 2018 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.1540 1.2780 114.80 0.7305 24740 1252.50
Resistance 2 1.1480 1.2740 114.40 0.7280 24700 1250.00
Resistance 1 1.1420 1.2705 113.80 0.7240 24650 1247.50
Market 1.1355 1.2645 113.55
0.7225 24605 1242.50
Support 1 1.1340 1.2620 112.70 0.7170 24540 1242.50
Support 2 1.1305 1.2580 112.20 0.7140 24500 1240.00
Support 3 1.1280 1.2540 111.50 0.7100 24450 1237.50
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Support and Resistance for December 13 2018 - European Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.1540 1.2780 114.80 0.7305 24740 1252.50
Resistance 2 1.1480 1.2740 114.40 0.7280 24700 1250.00
Resistance 1 1.1420 1.2705 113.80 0.7240 24650 1247.50
Market 1.1375 1.2645 113.47
0.7230 24580 1244.00
Support 1 1.1340 1.2620 112.70 0.7170 24540 1242.50
Support 2 1.1305 1.2580 112.20 0.7140 24500 1240.00
Support 3 1.1280 1.2540 111.50 0.7100 24450 1237.50
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Market Review for December 13 , 2018

The ending of the QE program does not mean the ECB will immediately start raising interest rates. The ECB currently feels no pressure to raise rates especially since the U.S. Federal Reserve may be preparing to slow down the pace of its own interest rate hikes in 2019. Furthermore, the market isn’t pricing in any ECB rate hikes in 2019 because investors feel the Euro Zone economy may be slowing.
 

With last month’s U.S. inflation data in the books, the focus now shifts to the European Central Bank and its monetary policy decision on Thursday. This is the last major central bank meeting before the U.S. Federal Reserve’s interest rate decision, monetary policy statement, economic projections and press conference next Wednesday.

European Central Bank Will Announce the End of Quantitative Easing

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