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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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...

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...

  


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