Currency movers for June 26, 2015

June 26, 2015
Today’s Currency Movers

EURUSD, Daily

EURUSD keeps on moving in a range while market participants wait for clues on what will happen with Greece. In previous reports I’ve pointed to a resistance below 1.1239 and suggested it would cap the upside yesterday and day before. This has been the case and price bars in both daily and 4h charts have been making lower highs. The bearish daily technical picture points to lower prices but the lack of downside momentum over the last two days and this morning forces me to question this indication.

Also, this being Friday and with no progress in Greece – EU negotiations in sight market might be range bound for yet another day. EURUSD has had a few narrow two to three day ranges since the March low but no such four day ranges. Therefore, we are approaching the breakout from this range. Range bound market means that the supply and demand are in a relative balance and therefore probabilities of price moving lower are now smaller. In other words, the likelihood of price moving up as easily as it could go down has increased. At the time of writing market has been rallying higher and towards the resistance levels.  Intraday price action at resistance will give us clues on how likely it is that the resistance will hold. Important daily support and resistance levels beyond the range are at 1.0930 and 1.1292.

2015-06-26_1209

Currency Pairs, Grouped Performance 

This morning it has been the commodity currencies that have taken beating. At the time of writing AUD and NZD are down against the majors. JPY has been attracting money from AUD and NZD while USD, EUR and GBP have not had constant performance one way or the other. NZDJPY has been moving lower for the last two weeks and is now trading relatively close to a weekly support level at 84.08 and right at a support zone created by a weekly pivot candle. AUDCHF rally failed from a resistance yesterday and has been now moving lower closer to a 4h pivotal support at 0.7182. The 0.7750 resistance proved too much for AUDUSD again yesterday and the pair fell down to lower 4h Bollinger Bands and close to a support provided by rising daily trendline. However, price has made lower highs in 4h resolution which suggests that this market is lacking in buy conviction.

Significant daily support and resistance levels for these pairs are:

2015-06-26_1207

Main Macro Events Today

2015-06-26_0844

Publication source
HotForex information  HotForex reviews

December 6, 2016
Financial markets gripped by Monday jitters
Risk aversion intensified during early trading on Monday following reports of Italian Prime Minister Matteo Renzi experiencing a crushing defeat in the referendum on constitutional reforms which sparked concerns of renewed political instability in Europe...
December 5, 2016
Gold prices struggled for a direction
MACD was in the negative territory. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was in a neutral area...
December 5, 2016
Mixed Jobs Report Keeps High Fed Expectations Intact
As we noted the day before Friday’s US jobs report, only a significantly worse-than-expected reading for November would have likely made the Federal Reserve’s next interest rate decision more difficult...

Vantage FX Rating
Trade360 Rating
HYCM Rating
 FXTM Rating
FIBO Group Rating
XTB Rating

Banc De Binary Rating
TopOption Rating
EZTrader Rating
Binary Brokerz Rating
OptionRally Rating
Anyoption Rating