LeTechs Forex Blog - Forex Daily Technical Analysis

27 Jul

Forex Daily Technical Analysis

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Daily Technical Analysis on 27 July 2016

Today’s Technical Pairs: EURUSD, GBPUSD, NZDUSD, USDJPY, & GOLD.

Former Indian President & Scientist Mr. A.P.J Abdul Kalam passed away on this same day, exactly a year back. First Death Anniversery of our " People's President " A Tribute to him from who are all the Indians

EURUSD

The dollar reversed its losses across the all majors clutching support from positive New Home Sales release. The euro sustained moving lower & stayed inside the bearish channel. The period time low was marked at 1.0977 levels. Currently the pair is surrounding the local support level of 1.0950. The resistance comes at 1.1000, the support remains at 1.0900 levels.

The trading gauge cracks the 50 and 100 Day EMAs & was ignored downsides by the 200-EMA in the 1HR chart. The value returned under the 100-EMA & stand there. At present the value is sandwiched between the 50 & 100 Day EMAs in the 1HR chart. The Moving Averages are directing downsides which is a sell signal. As long as market place is under 1.1000 the pair will bear to move towards 1.0900 levels.

GBPUSD

The pound got below due to the revived anticipations that the BoE would lesser the rate in August. The pound was neutral on Tuesday. The trading instrument stayed at the support levels of 1.3100, moving back and forth throughout the course of the day. The current resistance seems in 1.3300 levels, the support comes at 1.3100 levels.

MACD is in the negative zone, the index is nearly the centerlines, which will hints sellers’ strength. If MACD returns into the positive zone the buyers will take control of the market. RSI remains neutral. The 50, 100 & 200 Day EMAs are trending downsides, creating a bearish cross above in the 1HR chart. The instrument stands under the 50-EMA in the 4HR chart. The 100 and 200 EMAs directions are downwards, but the 50-EMA is flat in position.

NZDUSD

The New Zealand dollar advanced on the news that Trade Balance reduced in the nation in June. The pair divided upwards & rallied towards the resistance levels at 0.7050. Following cracks the level the bullish fasten faded and the NZDUSD pair fall back under the level 0.7050. Bears are constantly gaining more whole control. The resistance stands in 0.7050, the support stands in 0.6950 levels.

The NZD was adept to crack the 50, 100 and 200 Days EMAS in the 4HR chart. Nonetheless, the quotes did not lead additional and the 100-EMA ignored the pair downwards. The moving averages are driving downsides with a bearish cross over among the 50-EMA & the 100 and 200 EMAs. Technically, a bearish tone preserves in the market. We consider the downtrend will be constant now. The upcoming sellers' stop might well be at the mark level of 0.6980.

USDJPY

The yen advanced when Japanese monetary & fiscal easing plans depressed investors’ anticipations. The BoJ will use six trillion yen for the fiscal stimulus across the forecasts 10 to 20 trillion yen. At present Bears have the hop? Traders pushed the dollar lower from three-week highs on Tuesday. The instrument lost regarding 1 percent throughout the course of the whole day. The resistance seems in 105.30 levels, the support remains at 104.50 levels.

The instrument smashed the 50, 100 and 200 Day-EMAs in the 4HR chart. The moving averages of 50, 100 and 200 are modifying their upwards drive to the downside one. The bearish eyes are getting more popular; furthermore, the indicators advised short positions. The value is predicted to resume its falling towards 103.50 levels.

XAUUSD

The gold reduced as traders prefer hold mode before the Fed’s meeting is over. Overall scenario stayed bearish. The XAUUSD pair was in horizontal, the value drives back and forth within a sideway: 1323 – 1314 levels. The resistance appears in 1330 levels, the support seems in 1316 levels.

MACD is in the negative region, which indicates the sellers’ spots weakening. Neutral zone shows in the Indicator RSI. Technically, the 1HR chart shows that the gauge grew & smashed through the 50 and 100 EMAs, but failed to drive additional 200-EMA where the value rebound downwards. The 50, 100 and 200 Day EMAs are drifting downside directions. We consider the growth will be constant now. The first target levels will be 1330. We do not ignore the falls to 1310 levels.

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