EURUSD 

 

The EURUSD driven higher in the wake of the FOMC meeting, despite an intrusive tone that shows the Fed minute is likely to hike rates in some time in the closely future. Prices are waiting to test resistance close to the last June highs at 1.14 levels.  Support on the currency pair is finds near the 10-day moving average at the level of 1.1165.  Momentum stands positive as the MACD - moving average concurrence discrepancy index prints in the black with an upside sloping trajectory which directs to higher values.

 

FOMC minutes exhibit the Fed was split on a near term hike, and the statement in the minutes was quite blended & doubtful. A few officials wanted to wait until they were more convinced that inflation was picking up, and they consider there was ample time to act if values were on the rise. There was also sustained worry over Brexit results on the European banking system & especially in Italy, but it was noted that US banks still solid.

 

GBPUSD

 

The pair initially tried to rally throughout the course of the session, but then turns right back over to smash towards the 1.30 level. If we can break down under there, it is only a matter of time ahead the market place chore itself much lower. We consider that the markets will sustain to find bearish chances to trade this market. Even if we rally from now, we believe that it is only before the sellers get confused on signs of exhaustion. Additional rise would be seen to 1.3372 resistance levels & above. In that case, we'd predict upside to be limited by 38.2 percent retracement of 1.5016 - 1.2794 levels at 1.3643 levels to limit upwards. On the downwards, under the level of 1.2865 will target as 1.2794 levels low. Traders are absolutely no interest in buying this pair.

 

USDJPY

 

USDJPY's recovery was much weak and held well under the resistance level 102.64. Short term outlook remains bearish and further decrease is expected to the level of 98.97 low. Decisive crack there will confirm continuation of larger down trend and next target at the Fibonacci level of 94.77. In the meantime, a smash of 102.64 will indicate short term bottoming & twist bias rear to the upward for 107.48 levels of resistance.

 

In the larger picture, price actions from 125.85 medium terms roof are viewed as a curative pattern. Right now development suggests that the decrease is yet in progress. Deeper drop down might be seen to 61.8 percent retracement of 75.56 levels to 125.85 at 94.77 previously bottoming. USDJPY remains bearish.

 

XAUUSD

 

The yellow metal prices slid to 1342.25 from 1349, following the FOMC minutes, before climbing to session highs of 1351.75, as the dollar fell largely. The yellow metal market place apparently is collapsing for the Fed's belief that a rate raise is imminent. Values are hovering closely the 10-day moving average at 1342 and constant to trade in a compact range as momentum has turned horizontal which reflects a build up tone. The indicator RSI has horizontal lined and printing a reading of 53, which also reflects strengthening. A few of Fed officials did argue for a July tightening. Certainly, inflation stands the thorn in the FOMC's side, and the comfy inflation report of late will keep the Fed delayed this quarter of the year.