EUR/USD forecast for July 07, 2015

7 July, 2015

General overview

On Monday the trades were opened with a gap. We saw the increased volatility during the day. Greece was the main newsmaker yesterday. Athens and the creditors returned to the negotiating table and that event has defined the euro/dollar dynamics in the short term. Now it can be concluded that the parties will reach a compromise.

The two-week downward trend encountered the resistance at the level of 1.1050. The short-term trend line testing and breakthrough was amid the low volumes and was followed by the rebound upwards. The gap (the price gap) gives an additional signal towards the prices growth. The gap as covered.

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 weak sell signal. The price is under the Cloud and it is under 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 approach to the level of 1.1050 may lead to a price rebound down. The potential rebound targets are the support levels of 1.0925, 1.0790.


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EUR/USD stays in a short-term upward

Buyers broke the level 1.0750 in the night and stopped after reaching 1.0777...

If risk-on sentiment remains intact gold prices will weaken further

Gold prices remained under pressure trading around 5 month low being under pressure as U.S. elections results continued weighing on market sentiment. Majority of investors believe that the Fed will hike the rate in December that weighed on the market sentiment as well...

The USD/JPY gapped higher at the open

If the price overcomes 104.50 we will neutralize our medium term negative outlook. Buyers may extend their gains towards 105.00. Alternatively, bears may push the price below 104.00...


Gold will grow towards 1290 dollar per ounce

The level 1270 limited the further decline of the metal. A cut through here will aim at the 1260 level. If the current support rejects the price the XAU/USD will grow towards 1290 dollar per ounce...

Brent prices got under pressure following the IEA forecasts

Brent seems to have found a solid support at 47.50 which slowed down its decrease. The price slightly rolled back and stopped a few pips above the level in the European session. The quotes returned to a decrease in the North American session...

The crude oil futures are under pressure

Brent kept falling after a rise in U.S. crude inventories. Moreover, traders focused their attention on a world supply glut which keeps weighing on the oil prices...


Gold decrease will continue

During yesterday's trading, gold price sharply dropped breaking and consolidating below the level of 1335, -1336. We expect the gold decrease will continue. Next support is around 1315 to 1309...

Gold is testing the lower boundary

Amid US dollar gains, the gold price have made an attempt to exit dawnward from the medium-term channel 1.1336-1.1358...

Bears seem to have the ball now

The Brent got under pressure yesterday due to the returned concerns over the oversupply. Besides, the price retreated when traders began closing their long positions...

  


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