Fundamental analysis for July 16, 2015

16 July, 2015

The main positive related with Greece has been already played out. Now, traders gradually become aware of what is the price of the agreement. The country is faced with the necessity of hard and painful reforms which are unlikely to please the public. There are reports about the civil servants strikes in the country. Now everything will depend on the government's ability to convey the entire population of the need for the reform. The important news became the Yellen's speech where she said that the rate increase could be expected this year.

The EUR/USD was traded in a flat amid the mixed news background. The euro zone and the US alternately disappointed the market with weak macroeconomic statistics. After the J. Yellen’s speech the dollar strengthened and the pair fell.

Mark Carney has rightly become the main week beginning newsmaker. The rising interest rates moment is getting closer - stated the head of the Bank of England, which caused the rapid growth of the British currency. At the end of the day the pair GBP/USD increased.

The pair USD/JPY spent in the positive sentiment last trading day. Earlier traders partly fixed long positions profits considering current levels less attractive to long, based on the continuation of the uptrend. However the news supported the dollar and the pair increased.


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

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...

  


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