20 Jul

Forex Daily Technical Analysis on 20 July 2016

admin Forex Technical outlook 0 Comments

Daily Technical Analysis on 20th July 2016

Economic Sentiment in Germany has declined to its lowest level for four years. The volatility about the further world economy prospects following the Brexit was the key reason which influenced the emotion. This news counters balance on the euro. Furthermore, Housing Starts rose more than predicted in the US which promotes the dollar.
EURUSD pair closed bearish on Tuesday. Technically, the pair is in a downward channel. The value created a fresh lower low at 1.1000 is the solid psychological support. The instrument lost regarding 0.53 percent throughout the course of the trades. The resistance seems at 1.1050 levels, the support seems at 1.1000 levels. We conserve a short-term bearish scenario for the pair. If the values crack the support 1.1000 the gauge will lead towards 1.0900 levels.

The pound reduced on Yesterday despite the positive inflation publishes in the country. The pound sustained to show weakness on Yesterday. Technically, the pair stayed in a neutral bearish tone in the 4HR chart. The current resistance appears in 1.3300, the support appears in 1.3100 levels.
MACD is in the negative zone decreased which hints sellers’ growing strength. RSI indicator surrounds the oversold region which is a sell signal. The value rebound from the 100-EMA, smashed the 50-EMA & leads from it in the 4HR chart. The 50, 100 & 200 EMAs directs downwards. We still stay bearish on the scenario for the money. If the value makes one more attempt to crack the level 1.3100 the pound might fall to 1.2700 levels.
The AUD chop down on the news that the controller might sustain its softening policy. The Australian controller left the door unlock for the additional rate modify for August. The Aussie traded weaker on yesterday following minutes from the RBA. The gauge lost about 1.20 percent throughout the course of the whole day. The resistance remains at 0.7500 levels, the support remains at 0.7400 levels.
MACD is in the negative region decreased which hints the sellers’ spots strengthening. RSI indicator is nearly to the oversold region. The 4HR chart shows that the gauge cracks the 50 and 100 EMAs. The 200-EMA blocked its additional declines, currently the 200-EMA acts as a support for the AUDUSD. It directs horizontal, the 50 and 100 EMAs are turning downsides. The value might bounce from the level 0.7500 in the 200-EMA towards the mark level of 0.7550 in the 50-EMA. If the values smash the level 0.7550 the gauge might return to the growth. Or else, the AUDUSD pair will rebound from the level 0.7550.
The dollar comes cheaper across the yen as investors start profit taking following the recent rally. The pair traded at new four-week highs close the mark level of 106.50 on yesterday. Overall technical Scenario is bullish. The resistance stays at 107.00, the support stays at 106.00 levels.
MACD stayed in the positive zone decreased which hints the buyers’ spot weakening. The value remained over the 50-EMA in the 1HR chart. The moving averages of 50, 100 and 200 are yet moving upsides which are a buy signal. A strong 106.00 level break will signal regarding a drive towards 107.00. Alternatively, the USDJPY pair might fall back to 104.50 levels.
The XAUUSD pair quotes stayed unchanged. Investors evaluated positions for the additional policy softening by the advancing economies. The instrument formed a very solid support over 1330 and traded there throughout the day. The resistance seems in 1360, the support remains at 1330 levels.
MACD is in the negative region grew which hints the sellers’ positions weakening. The value is sandwiched comparison the 50-EMA and the 100-EMA in the 4HR chart. The moving averages are remains in neutral. The side movement will be constant. The value will stay over the level of 1330.
Previous Next
Share This Post

Why we choose Forex Market?
Oct 06 , 2015

Forex, Commodity and Binary Trading Signals on 5th May 2016
May 04 , 2016

Forex Trading Terminologies
Oct 21 , 2015


Free Forex Trading Seminar In Salem
Aug 19 , 2018

Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017

Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017

watercolor paints

Read ICM Capital Review

  LeTechs Rating  
  Regulation   FCA
  Branches   UAE, China, Russia, Mauritius
  Bonus   $1000


watercolor paints

Read Fidelis Capital Markets Review

  LeTechs Rating  
  Regulation   FSA, St. Vincent and the Grenadines
  Branches   Except USA, Belgium and British Columbia
  Bonus   200% Bonus




Google Plus

Risk warning: Trading foreign exchange (Forex Trading) and contracts for differences (CFDs) on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please ensure you fully understand the risk involved before trading, and if necessary seek independent advice.

Copyright © 2015 LeTechs. All Rights Reserved.