2018-07-20
In Asia, Japan will release the All Industries Activity m/m and National Core CPI y/y data, and the US today will not release any Economic Data. 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: 113.04.
Resistance. 2: 112.82.
Resistance. 1: 112.60.
Support. 1: 112.32.
Support. 2: 112.10.
Support. 3: 111.88.
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 20, 2018
2018-07-20
When the European market opens, some Economic Data will be released such as Current Account and German PPI m/m. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1711.
Strong Resistance:1.1704.
Original Resistance: 1.1693.
Inner Sell Area: 1.1682.
Target Inner Area: 1.1654.
Inner Buy Area: 1.1625.
Original Support: 1.1615.
Strong Support: 1.1601.
Breakout SELL Level: 1.1594.
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/CAD For July 20, 2018
2018-07-20
At the 4 hour chart, the loonie looks like moving in an upward sloping channel and above the moving average with 50 period. It means USD/CAD is still moving in a bullish bias. However, this pair may get a correction to re-enter the resistance which become the support zone between 1.3045 - 1.3168 levels before it continues the previous bullish trend.
(Disclaimer)
Technical analysis of Gold for July 20, 2018
2018-07-20
The Gold price made a new low yesterday, but prices reversed strongly after comments by the President of the U.S. regarding Fed policy, affecting the Dollar and in result Gold prices as well. Technically Gold has made a reversal pattern and the price continues to trade inside a downward sloping wedge pattern.
Red lines - bullish divergenceBlack line - resistance trend line
The Gold price remains in a bearish trend. Bulls need to break the wedge pattern to the upside if they want to change trend to bullish. Resistance is at $1,235-45. A weekly close inside or above this area will be a bullish signal as a weekly bullish hammer would have shaped. Short-term support is at $1.215 and next at $1,200.
Technical analysis of EUR/USD for July 20, 2018
2018-07-20
The EUR/USD was in the process of breaking below the triangle pattern and below 1.16 support when the comments by POTUS weakened the Dollar as he questions the policy Fed follows. The EUR/USD has bounced strongly towards cloud resistance.
Red lines - triangle patternBlue line -critical support
Black lines - bullish divergence
In the 4-hour chart, as shown above, we have a bullish RSI divergence as the RSI did not make new lows together with the price. The price has bounced strongly towards cloud resistance. Bulls need to break above 1.1680-1.17 to change short-term trend to bullish again. A break back below 1.16 combined with a new RSI lower low would be a bearish signal for EUR/USD that could lead towards 1.15 and lower. Major resistance remains at 1.1750-1.1760.
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