Welcome friend!

What December can bring us?

 

How much did you earn last month? If you used my analysis in proper way you have probably earned +900 pips last month. And that is only for GBP/JPY - other markets also gave some nice profit. So what about December? Where we will be able to earn some money?

On Friday dollar was losing a lot of ground. On EUR/USD chart the upper trend line have been broken. RSI indicator broke level at 50 and is moving down inside of a channel. Euro may try to get back above 1.50 but this should not happen. In matter of few weeks eurodollar should test 1.45 level.

Strength of dollar is also visible on USDCHF chart. Dollar tested 1.00 level and we have received big, white candle on friday. The nearest resistance is at 1.02 level so we can see small retracement to 1.01 level. RSI indicator broke above level at 50. Move to the area of 1.49-1.50 is highly possible.

Our last market for today is AUDUSD. Australian dollar did not have any confirmation of last tops on RSI indicator. We can even talk about negative divergence. The RSI indicator is found in a strange position. If it breaks out of it's formation AUD should not fall now. If it breaks down downward move should happen rather quickly. If we see market closing below 0.90, we should also see a move towards 0.85 level.