EUR/USD overview for July 01, 2015

1 July, 2015

General overview

The euro is more than closed the Monday gap, however, a further upward trend is not so obvious as it seems. The inflation Weak data in Germany can not be expected to yield the eurozone CPI positive data. The "Greek debt" issue has not completely resolved yet and there is also a possibility of negative surprises. Athens will not be able to repay the debt of 1.55 billion, still traders agree that the IMF and the international rating agencies will not consider this step as a default. The consumer price index grew during the first summer month increased by 0.2% per annum.

The price closed the price gap of more than 200 points. The buyers did not stop raising rates even higher by 100 points. There was the resistance 1.1150 breakthrough and the level of 1.1260 testing on the increased volume. Then it were a rebound to the 1.1150 and its breakthrough.

The price is finding the first support at 1.1050, the next one is 1.0925. The price is finding the first resistance at 1.1150, the next one is at 1.1260.

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 an upward 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 consolidating.

Trading recommendations

The approach to the level of 1.1050 may lead to a price rebound upwards. The potential rebound targets are the resistance level of 1.1150.


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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...

Gold prices extended their recovery

XAU/USD pushed away from 1260 and rallied towards 1270 dollars per ounce. The resistance exists at 1270, the support stands at 1260 dollars per ounce...

Gold prices turned around

Gold prices turned around when the spot reached 1265. Sellers drove the price to 1255 where they lost momentum. The precious metal returned to 1265...

  


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