EUR/USD overview for July 24, 2015

24 July, 2015

General overview

We should pay attention to the commodity and bond market dynamics amid the important macroeconomic statistics lack. The US Energy Department release pointed out to the crude oil reserves growth which puts pressure on the "black gold" quotations. Against this background we expect the Brent quotations decrease which will have a positive impact on the US currency as the oil price is denominated in dollars.

The euro two-day growth against the US dollar was stopped at the resistance level of 1.0925. The level testing was amid the low volumes and was followed by the breakthrough upwards.

The price is finding the first support at 1.0925, the next one is 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Golden Cross”.

The MACD indicator is in a positive territory. The price is increasing.

Trading recommendations

The pair is going upwards. The bulls’ targets are the levels of 1.1050 and 1.1150.


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Gold prices retreated from three week high

Buyers attempt to reclaim 1250 dollars per ounce on Wednesday failed. The price just touched the level and immediately...

Gold prices remained in green

Gold prices were neutral staying in a flat on Friday. After the recent rally buyers preferred to consolidate their gains. The 4 hours chart showed that the price was trading around the 100 and 200 EMAs...

Gold received a minor support

The night recovery stalled around 1205 dollars per ounce. After reaching the mentioned mark gold futures...


Gold prices were neutral on Tuesday

Gold prices were neutral on Tuesday flirting with the 1200 handle in the early trades. The yellow metal was moving back and forth in a tight range between 1205 and 1200 the first part of the day. A fresh buying interest emerged in the late European session. The spot pushed away from 1200...

Oil prices dropped on Thursday

Brent pulled back a bit during the Asian hours and reversed a minor portion of its Wednesday's losses. Buyers were able to return the price to the 53.50 region where the benchmark ran through fresh offers...

Brent remained well offered

Brent remained well offered on Wednesday. Oil prices have been under intense selling pressure since Tuesday. The price was quite yesterday after the recent sell-off. Sellers pushed black gold to 55.50 dollars per barrel and held the benchmark within the level...


Oil prices continued its decline

Brent maintained its gloomy tone on Thursday. After an Asian flat sellers...

Gold weakened after Fed officials hawkish comments

ulls gave up control on Tuesday. Bears took the ball and pushed the precious metal lower. The XAU/USD broke 1250 dollars per ounce during the early hours on Wednesday. The price continued moving...

Gold opened the week inside of a consolidation zone

A close below the support at 1250 could see XAU/USD extend its declines down to 1240. Nevertheless, the upward structure remained in place. The lower limit of the upward channel lies around 1240. Buyers may find fresh bids around the level...

  


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