LeTechs Forex Blog - Daily Forex Technical Analysis 26 July 2016

26 Jul

Daily Forex Technical Analysis 26 July 2016

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Daily Technical Analysis on 26 July 2016

Technical Pairs: EURUSD, GBPUSD, USDJPY & GOLD.

EURUSD

The euro stands almost unchanged on last day. The particular currency is nearly to the monthly lows across the dollar in spite of the positive German reports. The US dollar is promoted by the upcoming Fed meeting. The pair is bearish on EURUSD’s outlook. The euro started the week with little gains, yet, it failed to reclaim the 1.1000 level & chops down from the daily highs. The pair has been in a bearish trend for three weeks on the daily time frames. In the 4HR chart is neutral. The resistance looks at 1.1000, the support comes at 1.0900 levels.

MACD is in the negative zone. It’s decreased which hints the sellers’ power. RSI signal line reduced that also signs a sellers’ strength. The trading gauge made an attempt to crack the 50-EMA in the 1HR chart, but failed & was ignored downwards. The value is under the bearish 50-EMA in the 4HR chart. The moving averages of 50, 100 and 200 are driving downwards which is a sell signal. The euro sustained driving lower on Monday. We predict a near-term fell to test the levels of 1.0900 support.

GBPUSD

The US dollar stayed unchanged due to the balanced risk appetite. The optimistic US statistics well-adjusted with weakness of the pound supported the dollar. The GBP stands unmodified at the dawn of the new week. The pound is yet below pressure. The price tested the lower bound of its downward channel yesterday. The current resistance seems at 1.3300, the support remains at 1.3100 levels.

MACD is in the negative region, the indicator is near to the centerlines, which will hints sellers’ growing strength. If MACD returns into the positive zone the buyers will drives over the market. RSI is surrounding the oversold area which signs a sell signal. The instrument stands under the 50-EMA in the 4HR chart. The 100 and 200 EMAs direct downwards, the 50-EMA is flat in position. In the potential outlook, the upcoming stop for the pair might well be around 1.2900. If the value fixates over the resistance levels of 1.3300, it might shows a short term upward movement to 1.3500 levels.

USDJPY

The US dollar & the Japanese yen were balanced on the Monday’s trades. Investors suggest hold position before the Fed & BoJ’s meetings. The yen was almost unmodified in the yesterday session; still, the bearish views are gaining more popular. USDJPY remained at present the support at 106.00 levels. The resistance appears in 107.00, the support stays in 106.00 levels.

The instrument smashes the 50-EMA & blocked at the 100-EMA in the 1HR chart. The moving averages of 50, 100 and 200 are yet heading north. The pair is over the 50, 100 and 200 EMAs in the 4HR chart. The moving average directs upwards. Buyers seem to have run out of force. Bears might take control of the discharge soon. A downtrend will begin as soon, as the pair fell under the support level 105.30. In the outlook where the buyers keep drives the pair might grow to 107.00 & then more to 108.00 levels.

XAUUSD

The yellow metal futures reduced on Monday. The gold is near to the three-week lows. The dollar is promoted by the upcoming Fed meeting. Overall scenario stands the same. The XAUUSD pair is still below the pressure line. Nonetheless, the gold handled to recover on Monday & gained regarding 0.30 percent throughout the day. The resistance stays at 1330, the support remains at 1316 levels.

MACD is in the negative region which hints the sellers’ spots strengthening. RSI Indicator is in the neutral zone. The value smashes the 50 and 100 EMAs downsides in the 4HR chart. Currently the value is in-between the 100-EMA and the 200-EMA. The 200-EMA is neutral. Technically, a bearish trend persists in the market place. If the pair does make getaway at that level 1310 the precious metal reduce to 1300 levels.

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