Trading plan for December 27

$50 Welcome Bonus – the easiest way to progress on Forex

According to the economic calendar, the most important event for today is the release of the CB consumer confidence at 17:00. Analysts anticipate the decline to 133.7 points. If the actual level of the indicator is higher, the USD will be supported.

If we look at the daily chart of EUR/USD, the pair has been trading sideways and MACD confirms that as the indicator is placed close to the zero levels. Parabolic SAR shows the current uptrend for the pair.

Let’s look at the H1 chart. The pair has already bounced from the central pivot at 1.1385 and moves down. If the CB consumer confidence outperforms the expectations, the bearish pressure will increase. In that case, the pair will fall to the support at 1.1349.

Otherwise, the pair will have a possibility to break the resistance at 1.1385 and rise upwards to the next resistance at 1.1414.

As for USD/JPY, the downtrend for the pair is still on, which we can see on the daily chart. If we look at RSI, the indicator left the oversold zone on Wednesday. That signals a good chance to open long positions.

On H1, the pair has been going down. If the USD is supported by the today’s release, the pair will rise towards the resistance at 111.22. The next resistance is placed at 111.84. If the investors are disappointed by the data, the pair will fall to the support at 110.298.