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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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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