Fundamental analysis for July 08, 2015

8 July, 2015

The pair euro/dollar started the week with the price gap near the level of 1.0980 amid the negative Greek referendum results, concerning the anti-crisis plan. But after the US ISM service sector publication bulls managed to recover some of the losses. As a result, the tool closed the day with a decrease.

Due to the negative US statistics, the pair pound/dollar was able to fix its growth. However the pair decreased by the end of the day and closed the trades in the “red zone”.

The pair dollar/yen has finished the day with the negative sentiment. Investors escaped from the risky assets, giving preference to the "safe Japanese currency".

The Greeks refused to accept the creditors offer in the referendum, concerning conditions for obtaining new loans. Thus, the Greece exit from the European Union risk has been intensified that put pressure on the European currency. According to the voting results 61% of citizens said "no" in the referendum.

The EU leaders meeting took place on Tuesday in Brussels. The purpose of the meeting was to give an adequate assessment to the referendum results and consider next steps in the negotiations that were stopped after the referendum results. As we know the meeting ended inconclusively, as the Athens has not shown any proposals how to overcome the crisis.


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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...

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...

  


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