2018-07-25
In Asia, Japan today will not release any Economic Data. but the US will release some Economic Data such as Crude Oil Inventories, and New Home Sales. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 111.87.
Resistance. 2: 111.65.
Resistance. 1: 111.43.
Support. 1: 111.17.
Support. 2: 110.96.
Support. 3: 110.73.
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 For July 25, 2018
2018-07-25
When the European market opens, some Economic Data will be released such as Belgian NBB Business Climate, Private Loans y/y, M3 Money Supply y/y, and German Ifo Business Climate. The US will also release the Economic Data such as Crude Oil Inventories, New Home Sales, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1743.
Strong Resistance:1.1736.
Original Resistance: 1.1725.
Inner Sell Area: 1.1714.
Target Inner Area: 1.1686.
Inner Buy Area: 1.1658.
Original Support: 1.1647.
Strong Support: 1.1636.
Breakout SELL Level: 1.1629.
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.
Trading Plan for EUR/USD for July 25, 2018
2018-07-25
Technical outlook:
The EUR/USD pair has bounced from the 50% retracement level of the rally between the 1.1574 and 1.1750 levels, respectively. The pair has enough potential to stage an extended rally from these levels or it could first drop through the 1.1640 levels and then continue pushing forward. More or less, the pair has been poised enough to rally past 1.1950 levels at least. Bottom line remains that the prices should stay above the 1.1574 levels, for this to stay true. On the flip side, a drop through the 1.1574 levels would clearly indicate that wave (4) of a higher degree terminated at the 1.1850 levels earlier, and that EUR/USD is poised to drop lower towards the 1.1100/1200 levels, respectively. High probability trade setup for now is expected on the north side.
Trading plan:
Remain long EUR/USD and also look to buy on dips through the 1.1640 levels, stop below 1.1574 and target is the 1.1950 levels, respectively.
Fundamental outlook:
There are no major events lined up for the day.
Good luck!
Fundamental Analysis of GBP/USD for July 25, 2018
2018-07-25
GBP/USD has been quite bullish with the recent momentum in the long-term bearish trend which is expected to continue further lower in the coming days. As of the recent Trade War tensions, GBP has been struggling to gain momentum over USD having mixed economic report results in the process.
Recently, GBP has been quite positive with the economic report which did help the currency to gain certain momentum, but it is expected to be quite temporary with the sustainability. Today, GBP High Street Lending report is going to be published which is expected to have a slight decrease to 39.1k from the previous figure of 39.2k and CBI Realized Sales is also expected to decrease to 16 from the previous figure of 32.
On the other hand, ahead of the Core Durable Goods Orders and Advance GDP report this week, today, New Home Sales report is going to be published which is expected to decrease to 669k from the previous figure of 689k and Crude Oil Inventories report is also expected to decrease to -2.6M from the previous figure of 5.8M.
As of the current scenario, both GBP and USD are forecasted to struggle with the economic reports to be published today and upcoming reports this week. Though no specific decision can be taken in this corrective and indecisive phase, but USD is expected to have an upper hand over GBP having high impact economic reports yet to be published this week, whereas any positive outcome is expected to help USD gain further momentum in the process.
Now let us look at the technical view. The price is currently residing just above the support area of 1.3050 while having confluence with the dynamic level of 20 EMA holding the price as resistance to push lower in the coming days. As the price remains below the 1.3320 area with a daily close, the bearish bias is expected to continue with target towards 1.2750 in the future.
RESISTANCE: 1.3320
SUPPORT: 1.3050, 1.2750
BIAS: BEARISH
MOMENTUM: CORRECTIVE AND VOLATILE
Technical analysis of Gold for July 25, 2018
2018-07-25
Gold price started the day yesterday by falling below $1,220 only to gradually get back above it and test the short-term resistance of $1,230. The price remains inside the downward sloping wedge pattern.
Black lines - wedge patternRed line - RSI bullish divergence
Gold price has short-term resistance at $1,230 and next at $1,235. Breaking above these two levels will be a bullish sign as the price will have broken out and above the wedge pattern. Next important short-term resistance will be at $1,245. Trend remains bearish for Gold. Support is at $1,223 and the next one is at $1,218. Breaking below this area will open the way for another new lower low towards $1,200 or even below it.
Technical analysis of EUR/USD for July 25, 2018
2018-07-25
Price of the EUR/USD pair remains inside the triangle consolidation pattern. Price has visited the 1.1730-1.1760 resistance area several times and got rejected. On the other hand, the price continues to make higher lows.
Black lines - triangle patternRed line - RSI support
Red vertical lines - triangle targets
Blue line - long-term resistance
EUR/USD has resistance at 1.1730-1.1760. A weekly close above this area will open the way for a triangle breakout with the target of 1.2050-1.2110. The long-term trend line resistance is also very close to that area. If the triangle breaks below 1.16 and closes the week below it, we should expect the prices to continue lower towards 1.1250 in August.
Traders should be patient and wait for a confirmed and clear breakout of the triangle pattern.
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