Forex & Gold-Daily Technical on 25 January 2017 — LeTechs Market Preview

Daily Technical Analysis on 25th January 2017


Manufacturing PMI in Germany set positive results. Services PMI showed on the contrary negative numbers. The market will be paying attention on Business Climate in Germany on later the day. Sentiment stayed bullish towards the euro on yesterday. The pair traded in an ascending channel nearly its upper limit. Euro bulls met a fence at 1.075 levels & lost to advance additional. After posting a daily high at 1.077 levels in the Asian hour bulls stepped back & returned the pair to the 1.075 area. The spot stayed over the moving averages in the 4Hr chart. The 50 & 100 EMAs kept heading superior where as the 200 EMA remained neutral in position. The resistance finds at 1.075 levels, the support comes at 1.070 levels.

Read More: — Daily Technical Analysis on 25th January 2017