Fundamental analysis for July 09, 2015

9 July, 2015

It is known that the EU has set Greece five-day deadline. During this period the country should give creditors new detailed offers package. It was mentioned that otherwise" the EU is ready for Greece exit.

This news triggered risk escape and investors started to look for the safe haven assets such as the yen, the dollar, Treasuries, etc. It should be noted that the dollar decreased amid FOMC minutes publication

Yesterday the pair EUR/USD decreased amid the oil market sales. During the day the Brent crude oil fell to the level of 55.45 that is the lowest level over the last three months. However, the euro corrected upwards by the end of the day.

By the end of the day the pair GBP/USD had decreased. Besides the commodity market negative dynamics the UK processing industry production volume weak data caused pressure on the British pound.

The pair USD/JPY finished the trading day in the "red zone" amid demand on the "safe haven assets" amid the instability around Greece.


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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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