2018-07-19
In Asia, Japan will release the Trade Balance data, and the US will release some Economic Data such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index. So, there is a probability the USD/JPY will move with a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 113.33.
Resistance. 2: 113.11.
Resistance. 1: 112.89.
Support. 1: 112.62.
Support. 2: 112.40.
Support. 3: 112.18.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, July 19, 2018
2018-07-19
When the European market opens, some Economic Data will be released such as Spanish 10-y Bond Auction. The US will release the Economic Data too, such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1701.
Strong Resistance:1.1694.
Original Resistance: 1.1683.
Inner Sell Area: 1.1672.
Target Inner Area: 1.1644.
Inner Buy Area: 1.1616.
Original Support: 1.1605.
Strong Support: 1.1594.
Breakout SELL Level: 1.1587.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Technical analysis of USD/CHF For July 19, 2018
2018-07-19
We've spotted a bullish gartley pattern on the 4-hour chart of USD/CHF. The pair seems to test its next Fibonacci Support 78.6% at 0.9902 before the price goes up again. The overall bias of USD/CHF is still bullish. The upward trend will carry on as long as the price does not break out and closes below the 0.9857 level.
(Disclaimer)
Fundamental Analysis of AUD/USD for July 19, 2018
2018-07-19
AUD/USD has been quite volatile and corrective recently while residing inside the range of 0.74 to 0.75 area with a daily close. Despite the positive economic reports today, AUD failed to gain momentum against USD which does indicate the dominance power of USD at the current market scenario.
Today AUD Employment Change report was published with a significant increase to 50.9k from the previous figure of 13.4k which was expected to be at 16.7k and Unemployment Rate was unchanged as expected at 5.4%. Additionally, NAB Quarterly Business Confidence report was published with a slight decrease to 7 from the previous figure of 8.
On the other hand, after the positive Retail Sales report this week, USD has been quite impulsive with the gains in the market. Today USD Philly Fed Manufacturing Index report is going to be published which is expected to increase to 21.6 from the previous figure of 19.9 and Unemployment Claims report is expected to increase to 220k from the previous figure of 214k. Moreover, today USD CB Leading Index report is going to be published which is expected to increase to 0.4% from the previous value of 0.2%, Natural Gas Storage is expected to increase to 58B from the previous figure of 51B and FOMC Member Quarles is going to speak today about the upcoming monetary policy and interest rate decisions.
As of the current scenario, AUD has been quite positive with the economic reports already published which did contribute for the certain gain on the bullish side today but could not sustain it. Moreover, USD forecasts are quite mixed which is expected to inject certain volatility in the market. Though AUD managed to provide better reports, USD is still on the dominance mood and expected to gain further momentum if it gets better support from the upcoming economic reports to be published.
Now let us look at the technical view. The price has been in a downtrend for months now and after breaking below 0.75, certain volatility and correction is quite as expected. The price did push higher today but with current candle formation with certain bullish rejection and having a dynamic level of 20 EMA working as resistance, the price is expected to push much lower with a target towards 0.7350-0.7250 support area in the coming days. As the price remains below 0.75 with a daily close, the bearish bias is expected to continue further.
RESISTANCE: 0.7500
SUPPORT: 0.7350-0.7250
BIAS: BEARISH
MOMENTUM: VOLATILE and CORRECTIVE
Technical analysis of Gold for July 19, 2018
2018-07-19
The Gold price remains in a bearish trend in 2018 lows. Gold price continues to make lower lows and lower highs. Change in trend to bullish will change only on a break above $1,245. A weekly close above this level will also be a very bullish signal.
Red downward sloping line - support trend lineBlue lines - higher RSI lows bullish divergence
We have been noticing higher lows in the 4-hour RSI since $1,240-45 area. The new low at $1,220 was accompanied by another higher low. The end of the decline is very close for Gold. Short-term resistance is at $1,235 and next and most important is at $1,240-45.
Technical analysis of EUR/USD for July 19, 2018
2018-07-19
EURUSD remains in a bearish trend as long as price holds below 1.1730-1.1760 as we have been saying for the last few sessions. Price bounced yesterday towards 1.1660 and is now challenging the lower triangle boundary support at 1.1610-1.16 area.
Red lines - triangle patternGreen rectangle - resistance
The EUR/USD pair has resistance at 1.1660. A break above this level will open the way for a bounce towards 1.1680 and most probably 1.1710. Major resistance and trend change level remains at 1.1730-1.1760 area. Bulls need to break this level in order to push higher towards 1.19-1.20. Until then we remain bearish looking for 1.12.
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