Fundamental analysis for July 14, 2015

14 July, 2015

The uncertainty around Greece was all last week. EU summit and the Eurogroup meeting continued almost all weekend, but the specific outcome appeared only on Monday. Greece had to compromise and now the parliament must approve the reforms package in exchange for a bailout from the European Union.

The EUR/USD increased amid the positive "the Greek issue" expectations last week. The Greek government has announced that it is ready to offer a new anti-crisis plan which creditors should make." After the agreement with Greek has been reached, the European currency declined sharply.

The pair GBP/USD enjoyed a certain demand. The British currency was supported after the May UK trade balance release. However, the pound decreased amid the dollar’s strengthening.

There was a "bullish" sentiment with the USD/JPY. This is not surprising as the global stock markets perked up after the positive news about the "Greek debt" situation. As a result we had the demand for risky assets


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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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