2018-07-30
In Asia, Japan will release the Retail Sales y/y and the US will release some Economic Data such as Loan Officer Survey, and Pending Home Sales m/m. 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: 111.64.
Resistance. 2: 111.42.
Resistance. 1: 111.20.
Support. 1: 110.96.
Support. 2: 110.73.
Support. 3: 110.50.
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 30, 2018
2018-07-30
When the European market opens, some Economic Data will be released such as Italian 10-y Bond Auction, Spanish Flash CPI y/y, and German Prelim CPI m/m. The US will also release the Economic Data such as Loan Officer Survey, and Pending Home Sales m/m, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1715.
Strong Resistance:1.1708.
Original Resistance: 1.1697.
Inner Sell Area: 1.1686.
Target Inner Area: 1.1658.
Inner Buy Area: 1.1630.
Original Support: 1.1619.
Strong Support: 1.1608.
Breakout SELL Level: 1.1601.
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 30, 2018
2018-07-30
On the 4-hour chart of USD/CHF, we can see a bullish harmonic pattern Gartley 222 completed. After the price has reached the first target at 0.9953 (the 38.2% Fibonacci Retrachement from point C-D), the price is now they trying to reach the second target at 0.9987 (the 61.8% Fibonacci Retrachement from point C-D). On the grounds of this fact, we know the pair is going to trade with a bullish bias at least for a few days more.
(Disclaimer)
Technical analysis of GBP/USD For July 30, 2018
2018-07-30
(Disclaimer)
Technical analysis of Gold for July 30, 2018
2018-07-30
Gold price remains trapped inside the downward sloping wedge pattern. Trend remains bearish as long as price is below $1,235. Next support is at $1,217 and next at $1,204. Gold is vulnerable to the downside as long as price does not break out above the wedge pattern.
Black lines - wedge patternBlue line - RSI resistance
Red line -RSI support
Magenta line -long-term resistance
Resistance is very important at $1,235. A break above this level could open the way for a bounce even towards $1,300. Until then trend remains bearish targeting the lower wedge pattern boundary at $1,204. Gold price is oversold with bullish divergence signs. These signs are just warnings. We need a break above $1,235 to get the reversal confirmation.
Technical analysis of EUR/USD for July 30, 2018
2018-07-30
The EUR/USD pair remains inside the triangle consolidation. Price held above 1.16 triangle support and bounced towards 1.1660. As we explained in last week's analysis, selling near resistance (1.1730) and buying near support (1.16) so far has paid as the risk reward ratio was in our favor with a tight stop. This will work as long as price is inside the triangle.
Black lines - triangle pattern
Blue lines - RSI triangle pattern
Both price and the RSI are inside triangle patterns. We look for clues in the RSI to break up or down from the triangle. Short-term resistance is at 1.1725. Support remains at 1.1615. Traders with moderate aggression should better wait for a breakout before opening any position in this pair. Patience is key. The space inside the triangle is getting smaller for price to move. This week we will have a breakout.
Technical analysis of GBP/USD for July 30, 2018
2018-07-30
Price got rejected at the resistance of 1.32 last week and remains inside the downward sloping wedge pattern. There are bullish divergence signs but no reversal confirmation yet. Key support remains at 1.30 and if broken we could see a push much lower.
Blue lines -wedge patternBlue triangle -RSI triangle pattern
Black line - horizontal resistance
The first important resistance bulls must overcome is at 1.32. Next is at 1.3250. The RSI remains also inside the triangle pattern and as long as we do not see a break out, we might see the GBPUSD pair slide lower inside the wedge pattern towards 1.2850. A break above 1.3160 would be an initial bullish signal that will give hope to bulls for a confirmed breakout and reversal of trend.
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