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30.12.202113:00 Forex Analysis & Reviews: Technical analysis recommendations of EUR/USD and GBP/USD on December 30, 2021

EUR/USD

Exchange Rates 30.12.2021 analysis

The monthly level of 1.1290 continues to have an impact on the movement, helping the euro to remain in the current consolidation zone. Yesterday, the bulls, relying on the level of 1.1290, tried to move up. They managed to test the maximum peaks of consolidation (1.1383 - 1.1360), but it is still unlikely to leave and reach the next pivot point of 1.1403 (weekly short-term trend).

Today, the bears are trying again to return the situation to the monthly level of 1.1290, combining their efforts and attraction with the daily Ichimoku cross (1.1312 - 1.1290 - 1.1268).

Exchange Rates 30.12.2021 analysis

The smaller timeframes show that reaching one side or the other is temporary; these are just bursts of some activity. The pair continues to trade in the attraction zone of key levels, moving around them, thereby frequently changing priorities. Today, the key levels are set at 1.3330 (central pivot level) and 1.1322 (weekly long-term trend). The bears have the initial advantage when trading below the levels, whose intraday downward targets can be designated at 1.1291 - 1.1235 - 1.196 (classic pivot levels). However, upon consolidating above the range of 1.3330 -22, it can be noted that the odds are shifting to the side of strengthening the bullish mood. The resistance of the classic pivot levels (1.1386 - 1.1425 - 1.1481) acts as upward pivot points.

GBP/USD

Exchange Rates 30.12.2021 analysis

The pound tested the weekly resistance of 1.3429 - 1.3475 and reached the lower border of the daily cloud (1.3494). The result of interaction with these levels will help determine future prospects. A rebound from the encountered resistance levels will allow us to consider options for completing the weekly upward correction, while the breakdown and the optimistic bullish closing of the month will create prerequisites for ending the monthly downward correction.

Exchange Rates 30.12.2021 analysis

At the moment, the bulls retain the main advantage in the smaller timeframes, since, despite the decline, they have not yet lost the support of the weekly long-term trend (1.3430). The loss of this support and the reversal of moving averages can change the current balance of power. Today's key levels are located at 1.3464 (central pivot level) and 1.3430 (weekly long-term trend). Additional intraday support levels can be noted at 1.3373 (S2) - 1.3338 (S3), while the resistances of the classic pivot levels can be noted at 1.3520 (R1) - 1.3555 (R2) - 1.3611 (R3).

***

Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Evangelos Poulakis,
Analytical expert of InstaSpot
© 2007-2024
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