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.

Source link  
Large-scale decline in equity markets

Yesterday, American markets experienced a real sale-off, indices fell by almost 3 percent. Earlier in the Asian trading, Chinese Shanghai Composite lost almost 4%...

Markets in Asia turn green

Markets in Asia traded mainly higher on Thursday following a widely expected Federal Reserve interest rate hike and upgrade of the US gross domestic...

Asian markets extend losses

Markets in Asia notched down on Tuesday, as investors remained on hold as the two-day Federal Reserve monetary policy meeting got closer...

US-China trade war fears intensify

Asian equity markets were mixed on Thursday as demand for risky assets continued to dampen on concerns that the world’s two biggest economies...

Equities decline on political concerns

Asian stock markets moved lower on Wednesday as a political turmoil in the United States following the sacking of US Secretary of State Rex Tillerson...

Equity and currency markets consolidate

European stock markets were able to maintain a positive mood and displayed moderate growth. In general, market remained positive sentiment...

Positive sentiment in the stock markets

European markets were under pressure for more than half a day, but by the start of the American session, indices were able to show positive dynamics...

The new week begins positively

The new trading week will be full of the information and officials’ speeches. The focus of the markets will be on economic data, the most important...

Expectations of higher rates

On Thursday global stock markets continue to decline after a sharp sell-off in US stock exchanges on Wednesday. The risks are more likely to be exerted...