EUR/USD overview for August 07, 2015

7 August, 2015

General overview

The Germany industrial orders rose up by 2.0% m/m and 7.2% y/y. The German industry rapid growth is connected with the cheap euro and also with the European continuing producer prices decline, though it does not eliminate the deflation threat.

The corrective rebound was formed which allowed buyers to test the resistance of 1.0925.

The price is finding the first support at 1.0790, the next one is 1.0670. The price is finding the first resistance at 1.0925, the next one is at 1.1050.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show 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 correcting.

Trading recommendations

The downward bounce potential target is 1.0790.


Source link  
Yellow metal returned to a growth

Buyers failed to reclaim 1260 and stepped back in the night. The price slightly eased and corrected to 1253...

Undertone for Gold was clearly positive

The undertone for Gold was clearly positive on Thursday. The spot was growing the first part...

Gold maintained its bid tone

Buyers defended the 1230 level on Friday. Fresh bids around the level coupled with broad base...


Gold failed to sustain recovery

The pair pulled back in the Asian night and reached 1260 in the mid-Asian session. The level limited sellers' advance..

Gold remained well offered

The XAUUSD pair came under intense selling pressure on Thursday. The spot pushed away...

Brent oil prices maintained their negative bias

Sellers broke 55.50 and remained within the level in the night...


Brent oil prices remained in an upward channel

However, the benchmark softened to its lower band...

Brent oil prices gapped higher

A strong energy demand in the Asian region supported oil prices despite a rebound in Libyan oil production which still weigh...

Gold prices weakened

The undertone for Gold was clearly positive. However, buyers failed to retake 1260 on Monday. The level rejected the price downwards...

  


Share: