EUR/USD overview for June 29, 2015

29 June, 2015

General overview

We just highlight the money supply changes report among the published macroeconomic releases. The ECB QE is in full swing, we expect money supply aggregate M3 increase. Still not an inflation problem is on agenda but Greek with its default menace. The Greek debt situation has not been solved yet. Greece broke off negotiations with the creditors. There will be a referendum on the issue on July 5.

The downward trend stopped at the support level of 1.1150 and got into a three-day consolidation. The current price is trading at levels ranged 1.1260 - 1.1150

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The potential decrease targets are two levels of support: 1.1150, 1.1050.


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Euro extended its bullish momentum

The line rejected the pair which eased towards 1.1650 afterwards. If the price breaks below 1.1650 sellers may push the euro to 1.1600...

Gold trades mixed in a narrow range

However, the level 1280 is on its way and won’t let the spot further. A rebound from 1270 pointed to strong buyers who will not give up their attempt...

Euro met an obstacle around 1.1700

The spot recovered to 1.1750 where the euro spent the first part of the night. An increased selling pressure weighed on the major in the mid-Asian session...


Gold keeps losing ground

The previous upward momentum lost strength at 1330 dollars per once. After facing selling resistance at the level the pair turned around and softened...

Gold started week with a gap downwards

The precious metal is around the lower boundary of the upward channel now. If sellers remain in the driver’s seat the spot may continue...

XAU/USD pair keeps its buy mode intact

The spot broke above previous day’s top and climbed to 1355 over the night trades. Gold is likely to continue its growth. Buyers aim at 1360 now...


Rebound from 1280 lifted gold prices

The spot jumped to 1290 and broke the level soon after testing it. As the most probable scenario, we consider further moving upwards towards...

Gold price sharply dropped

Buyers continued to struggle with 1290. However, all their attempts faced sellers' resistance around the hurdle. The level rejected the price...

Sellers continued to dominate

The euro bounced from 1.1750 and weakened to 1.1700 during the night and morning trades. The resistance resides at 1.1750, the support comes in at 1.1700...

  


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