2018-07-06
In Asia, Japan will release the Leading Indicators, Average Cash Earnings y/y, and Household Spending y/y data, and the US will release some Economic Data such as Natural Gas Storage, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY pair will move with a medium to high volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 111.27.
Resistance. 2: 111.05.
Resistance. 1: 110.84.
Support. 1: 110.57.
Support. 2: 110.36.
Support. 3: 110.14.
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 06, 2018
2018-07-06
When the European market opens, some Economic Data will be released such as Italian Retail Sales m/m, French Trade Balance, and German Industrial Production m/m. The US will release the Economic Data too, such as Natural Gas Storage, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so, amid the reports, EUR/USD will move in a medium to high volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1750.
Strong Resistance:1.1743.
Original Resistance: 1.1732.
Inner Sell Area: 1.1721.
Target Inner Area: 1.1665.
Inner Buy Area: 1.1633.
Original Support: 1.1654.
Strong Support: 1.1643.
Breakout SELL Level: 1.1636.
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 AUD/USD for July 06, 2018
2018-07-06
If we look at the 4-hour chart at the AUD/USD pair, we can see this pair is already moving in a sideways condition but still in a Bearish bias, but the Divergence between the Stochastic and the price give us an information about this pair that it seems it will test its near support zone at 0.7327 to 0.7347 level. As long as this pair do not break out and close their critical level 0.7450, the AUD/USD pair will go down to test its support level zone.
(Disclaimer)
Technical analysis of USD/CAD for July 06, 2018
2018-07-06
The USD/CAD pair at the Daily chart still moving in a Bullish bias. This can be seen by the price still moving in an Up Slope Channel and above the Moving Average Periode 50. After we see the correction from this pair we've spotted the Stochastic is already at Oversold condition, now there is a possibility for this pair to go up to test its nearest Resistance at 1.3385 level.
(Dsiclaimer)
Technical analysis on Gold for July 6, 2018
2018-07-06
Gold price is setting up a move higher and the trigger might be today's announcement of the NFP numbers. Gold price is expected to move towards $1,272 which is our first target and $1,286 which is our second target.
Blue line - resistanceGreen line -support
Red lines -targets
Gold price has resistance at $1,258-60 and support at $1,250. Price is making higher highs and higher lows. A break above $1,260 will open the way for a move higher towards $1,272 first and $1,285 later. A break below $1,250 if it is sustained for at least 4 hours, should open the way for a move to new lows towards $1,220.
Technical analysis on Silver for July 6, 2018
2018-07-06
Silver prices are consolidating near their recent highs. Price is forming a bullish flag. Strategy is the same as yesterday. A break above $16.10 will open the way for a move at least towards $16.40 and $16.70.
Red line - short-term resistance (broken)Silver has short-term resistance at $16.10 and support at $15.90. Bulls want to see a break above $16.10 as this will be a bullish sign for a continued move higher towards $16.40 at least. Silver is also forming the right shoulder of an inverted Head and Shoulder pattern with the neckline at $16.10 and target $16.53.
Technical analysis on EUR/USD for July 6, 2018
2018-07-06
EUR/USD has broken above the downward sloping red trend line resistance and is challenging recent highs. Trend is bearish as the price remains below the Ichimoku cloud. Today's NFP announcement will provide the market with some volatility. A sustained move above 1.17-1.1750 will be bullish for the pair.
Red line - resistance (broken)Blue line - support
Magenta line - RSI Support trend line
EUR/USD is making higher highs and higher lows on the Daily chart. Resistance is at 1.1720-1.1750. Support is at 1.1660 and next at 1.1610. A rejection at the 1.17-1.1750 area would be a bearish sign. Bulls need to break above this area and stay above 1.1750 if they expect to move higher towards 1.20. A break below 1.1660 will increase the chances of the price breaking below 1.15 next week.
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