Fundamental analysis for July 01, 2015

1 July, 2015

A. Merkel said that the debate about Greece are to hold in the Bundestag on Wednesday. The Greek 10-year government bonds yield reached a level of 15%, pointing to the high economic risks that is a negative factor for the euro. On Monday, the EUR/USD began trading with a gap in the area of 1.1009, then it showed a growth above the 12 figure amid rumors of a possible agreement between Athens and the creditors. The growth was permanent and the pair fell by the end of Tuesday.

The GBP / USD fell amid the cross-rate EUR/GBP growth. The first quarter UK GDP increased by 0.4% q/q and 2.9% y/y.

The pair USD/JPY closed the day in the "red zone". Traders ran from risky assets to the "safe yen."

The United States can please us with positive macroeconomic statistics. Last Friday, the Michigan University reported about the consumer confidence maximum level over the past 5 months. Åhe positive trend was confirmed by the Conference Board (the data showed a growth from 94.6 to 101.4) - we noted demand for the US dollar


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...


Gold has jumped to 1265 level

The resistance holds at 1280, support comes in at 1245.9. Major resistance is highlighted at 1295.4. Next target is set at 1350...

Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....

Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

  


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