Fundamental analysis for July 07, 2015

7 July, 2015

The major pairs were in the narrow ranges. Monday the pair EUR/USD opened with a gap downwards, but it had increased. However, it lost its positions by the end of the day. We have received the May euro zone sales positive data. The index rose by 0.2% that indicates the consumer spending growth and a positive factor for the economy.

The euro was declining the whole day in response to the Greece referendum results which further increases the full-scale default likelihood in the country and its exit from the euro zone. Greeks convincingly voted "no" to the EU creditors' offer and with only 38.69% of the Greeks having supported the bailout offer.

The pair GBP/USD had decreased amid the UK bond yields reduction because of the oil market sales. Nevertheless the pound grew by the end of the day

By the end of the day the pair USD/JPY had decreased amid the bearish sentiment on the global equity markets. Investors closed their positions after the Greece referendum.


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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...


Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...

DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...

Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...


Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

Gold prices traded in green

The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining...

  


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