Daily Technical Analysis on 15th July 2016
Technical Pairs: EURUSD, GBPUSD, USDJPY, & GOLD.
The euro strengthened across the dollar among the risk aversion. Traders come less cautious about the Brexit consequences as well. The US released the Initial Jobless Claims that became out better than the expectation. The pair moved to fresh weekly highs following the BoE’s decision to keep the rate unmodified and cut down back on the news from the US. The fresh daily high is at 1.1161 levels. The resistance appears in 1.1130 levels, the support seems in 1.1050 levels.
MACD is in positive zone which hints the buyers’ strength. RSI is in the neutral region signs no signal. The value cracks the 200-EMA which ignored it downwards in the 4HR chart. At present the 200EMA act as a resistance. We might expect the trades into the levels of 1.1130 & 1.1050.
The pound moved by 200 points when the BoE released to keep the rate unmodified. The controllers probably left the door unlock to launch the stimulus for August. The BoE’s decisions spark sharp short-term rallies that advance the pair to a 2-week high level. The fresh daily high is at around 1.3500 levels. The resistance will be at 1.3500 levels, the support remain in 1.3300 levels.
MACD is yet positive for buyers’ positions will strengthen. RSI indicator bounces back from the overbought region that supports sellers. The instrument stands under the bearish 100-EMA which acts as a resistance in the 4HR chart. The pair shows a weakness to grow. In this potential outlook, the pair will grow to 1.3700 levels. Conversely, the value will fall to 1.2900 levels.
The dollar grew over yen for the 1st time in 3 weeks. The yen weakened hanging for fresh fiscal stimulus from BoJ. The Japanese Bonds Market place growth forced the yen as well. Technically, a bullish tone preserve in the 4HR chart. USDJPY pair kept rallying on belief that the Japanese controller will launch a stimulus program as soon as possible. On Thursday the instrument put a new local high at 106.00 levels. Currently the pair is overbought & we predict a bounce backwards. The resistance level is 106.00; the support level is 105.30.
MACD remained in the positive region. The histogram will grow signs a buy signal. RSI indicator is near to the overbought zone. If its signal line reduces that will be a sell signal. The pair forced away from the 200-EMA which acts as a support in the 4HR chart. The 50-EMA and the 100-EMA are under the value & are turning upsides directions which are a buy signal. The pair might consolidate at the present levels. If the pair smashes the level of 105.30 downsides we expect a drop to 104.50 levels.
The yellow metal is under pressure due to:
The Return to risk capitals.
US financial recovery.
Anticipations that the US, raise the rate this year.
The pair stayed in an ascending channel, close to its lower limit. The yellow metal futures moved lower after the decision of the BoE to keep the rates as same. The fresh local low is at 1320 levels. The resistance seems in 1360 levels, the support appears in 1330 levels.
MACD stays in the negative zone which hints the sellers’ weakness. Indicator RSI bounces back from the oversold region. Its signal line shifted upsides which confirm the strength of buyers. The value cracks the 50-EMA, but was blocked at the 100-EMA which ignored it upwards. The 50, 100 and 200 EMAs are turning downside directions. We are considering for the support level of 1316 cracks & then constant of a fall with an additional target at 1300 levels.