EUR/USD forecast for July 29, 2015

29 July, 2015

General overview

The main pair's dynamics is determined by three factors: the bond market sentiments, the commodity market trend and the pair EUR/GBP dynamics. There was the German 10-year bond yields growth on the debt market in relation to its US and UK competitors which supports some demand for the euro. The Federal Reserve interest rate decision may affect the pair dynamics which will be published on Wednesday evening.

The upward correction within the pair euro/dollar consolidated its positions, breaking through on its way resistance at the level of 1.1050.

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 buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The indicator is growing.

Trading recommendations

The growth targets are the levels of 1.1150, 1.1260


Source link  
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...

  


Share: