InvestMacro

By Han Tan Chief Market Analyst at Exinity Group, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By Lukman Otunuga Senior Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the asset continues falling. After forming several reversal patterns, such as Harami, close to the resistance area, USDCAD may reverse and correct towards the support level at 1.2425. However, an alternative scenario implies that the asset may continue growing to reach 1.2660 without testing the support level.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Hammer, not far from the support level. At the moment, the asset may reverse in the form of a new growth towards the resistance area. In this case, the upside target may be at 0.7410. At the same time, an opposite scenario implies that the price may fall to reach the support level at 0.7260 and continue the descending tendency without testing the resistance area.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the correction continues. By now, the pair has formed several reversal patterns, for example, Shooting Star, close to the resistance area. At the moment, USDCHF is reversing. In this case, the next downside target may be the support level at 0.9060. Still, there might be an alternative scenario, according to which the asset may grow towards 0.9160 without testing the support level.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By TheTechnicalTraders 

Chris Joins Elijah K Johnson from Liberty And Finance to talk about Precious Metals. Since last August, silver has been trading in this noisy sideway range. This can be seen as a pause or consolidation before the next major trend breakout. If the US dollar starts to roll over, precious metals could jump higher. Should this happen, the stock market would most likely top out and start a downward trend. Silver has a lot of long-term upside potential. However, we foresee further pressure downward in the short term.

CLICK ON THE IMAGE BELOW TO LISTEN TO THE INTERVIEW

GET YOUR DAILY DOSE OF CHRIS’ PRECIOUS METALS ANALYSIS ALONG WITH THE HOTTEST ETFS TO TRADE WITH BAN TRADER PRO!

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending wave at 1.1850; right now, it is consolidating around this level. If later the price breaks this range to the upside, the market may continue the correction towards 1.1924 and then start a new decline to test 1.1850 from above.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed the consolidation range around 1.3876. Possibly, the pair may continue the correction towards 1.3975 and then form a new descending structure to test 1.3876 from above. Later, the market may start another growth with the target at 1.4000.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending wave at 73.45. Today, the pair may start another growth towards 73.88 and then resume trading downwards to break 73.00. After that, the instrument may continue falling with the short-term target at 72.66.

USDJPY, “US Dollar vs Japanese Yen”

After rebounding from 110.25, USDJPY is forming a new descending structure towards 109.40. Later, the market may start a new correction with the target at 110.20.

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending wave at 0.9105 and forming a new consolidation range around this level, USDCHF has broken it to the downside. Today, the pair may extend the correction down to 0.9044.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating below 0.7388. Possibly, the pair may break the range to the upside and grow towards 0.7510. Later, the market may return to 0.7380 to test it from above and then resume trading upwards with the target at 0.7542.

BRENT

Brent is trading to break the upside border of the range. Possibly, the asset may continue growing to reach 77.00 and then start a new correction towards 73.00. After that, the instrument may form one more ascending structure with the target at 81.00.

XAUUSD, “Gold vs US Dollar”

After breaking 1810.00, Gold is expected to continue the correction up to 1825.95. Later, the market may fall to test 1810.00 from above and then start another growth with the target at 1828.88.

S&P 500

The S&P index is still consolidating above 4377.0 without any particular direction. If later the price breaks this range to the downside, the market may form a new descending structure towards 4331.4; if to the upside – resume growing to complete the ascending wave at 4430.0 and then start a new decline with the first target at 4232.2.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Orbex

The current XAGUSD formation hints at a large triple zigzag structure. This is where the bearish actionary wave y is in formation.

The wave y has the internal structure of a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag which has ended.

In the near future, the market could rise, then the intervening wave x of a cycle degree will begin. The price in this wave can update the previous maximum at the level of 28.80.

However, there is a possibility that the market will continue to move in a downward direction. In this case, the formation of wave y will continue.

With the final intermediate wave (Z), only the bearish minor impulse A has been completed. In the near future, the price could rise slightly in correction wave B and then go down again in the final impulse C, as shown on the chart.

The target of 23.38, where the market will go, is determined using the Fibonacci extension. At that level, wave (Z) will be at 123.6% of wave (Y).

By Orbex

By Orbex

EURUSD attempts reversal

The US dollar tumbled after Fed Chairman Jerome Powell said it is nowhere near a rate hike.

The RSI divergence was a giveaway that the sellers may have taken their feet off the pedals. The break above 1.1820 suggests that buyers were trying to get back into the game.

As the pair grinds its way up, a close above 1.1850 may foreshadow a U-turn in the coming days, prompting sellers to cover.

1.1880 could be the last hurdle and its clearance may trigger a runaway rally. 1.1770 is a fresh support in case of a pullback.

CADJPY tests psychological level

The Canadian dollar inched higher after a better-than-expected CPI in June.

The bulls are looking to extend the rebound from 85.50, a major support on the daily chart, in order to resume the fifteen-month long uptrend.

The break above the support-turned-resistance of 87.60 has put the bears under pressure. The psychological level of 88.00 has so far capped the loonie’s advance.

However, an oversold RSI may help gather more buying interest. 86.60 is the immediate support if the consolidation drags on.

NAS 100 recoups losses

The Nasdaq 100 recovers from profit-takings as investors continue to digest Q2 earnings.

The technical pullback has found bids on the 20-day moving average (14800). Buyers were quick to see the oversold RSI as a bargain indicator.

The bullish mood remains intact as long as the price is above the previous demand zone near 14550 from the daily chart.

Consolidation may run its course for a few more hours as short-term bulls rebuild their stakes. Those armed with patience may wait for a clean break above the peak at 15140.

By Orbex

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1816
• Prev Close: 1.1842
• % chg. over the last day: +0.22%

Against the background of the news from the Fed, the dollar index fell sharply, which caused strong movements on currency pairs with the US dollar. The European currency, which moves inversely to the dollar index, sharply strengthened and increased by 0.22%, but, during the news release, there was a false movement down.

Trading recommendations

• Support levels: 1.1834, 1.1783, 1.1761, 1.1746, 1.1609
• Resistance levels: 1.1879, 1.1934, 1.1969

From the technical point of view, the general trend is still bearish, but the local trend is bullish, and the price is moving to the priority change level. Now the price is trading above the moving average, the MACD indicator is in the positive zone with no signs of divergence. Under such market conditions, it is better for traders to consider intraday trading. Buy positions should be considered only from the support levels. Traders should look for sell deals at the resistance levels.

Alternative scenario: if the price breaks through the 1.1879 resistance level and fixes above, the general uptrend is likely to be resumed.

News feed for 2021.07.29:

• – Germany Unemployment Rate (m/m) at 10:55 (GMT+3);
• – Germany Consumer Price Index (m/m) at 15:00 (GMT+3);
• – US Initial Jobless Claims at 15:30 (GMT+3);
• – US GDP (q/q) at 15:30 (GMT+3);
• – US Pending Home Sales (m/m) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3879
• Prev Close: 1.3899
• % chg. over the last day: +0.14%

Against the background of the fall of the dollar index, the British pound increased by another 0.14%. The food supply situation in Britain is getting better. Starting next week, England is opening its borders to vaccinated tourists from the EU and US without quarantine, which is a long-awaited stimulus for travel companies and airlines.

Trading recommendations

• Support levels: 1.3900, 1.3825, 1.3772, 1.3714, 1.3676 ,1.3641, 1.3614, 1.3525
• Resistance levels: 1.3947, 1.4002, 1.4075, 1.4101

The trend on the GBP/USD currency pair is bullish on the H1 timeframe. The MACD indicator is in the positive zone but with signs of divergence. Under such market conditions, traders are better to look for buy positions after the price pulls back to the support level. There are no optimal points for sell positions right now. Traders can search for intraday sales from the resistance level with short targets, but they should understand that it will be trading against the main trend.

Alternative scenario: if the price breaks through the 1.3714 support level and consolidates below, the bearish scenario is likely to resume.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.74
• Prev Close: 109.91
• % chg. over the last day: +0.15%

After a significant strengthening of the Japanese yen (fall in the USD/JPY quotes) on Tuesday, the USD/JPY currency pair increased by 0.15% yesterday. The price failed to break through the priority change level, where the buyers managed to defend their positions. But against the background of the dollar index decline, the probability of the breakdown of the 109.62 support level is quite high.

Trading recommendations

• Support levels: 109.62, 109.19, 108.65
• Resistance levels: 110.16, 110.41, 110.73, 111.06, 111.48, 110.73, 112.18

The main trend on the USD/JPY currency pair is upward, but the local trend is bearish, so traders should look for sell positions from the resistance levels. Buy positions should be searched only on intraday timeframes and with short targets because the pressure of buyers is clearly stronger now.

Alternative scenario: if the price falls below 109.70, the downtrend is likely to be resumed.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2601
• Prev Close: 1.2521
• % chg. over the last day: -0.64%

The inflation rate in Canada slowed down, reaching 3.1% (the previous value was 3.6%) in June in annual terms. Excluding gasoline prices, the annual inflation rate is 2.2%. Considering this news and a slight increase in oil prices, the Canadian dollar has strengthened significantly against the US dollar.

Trading recommendations

• Support levels: 1.2495, 1.2448, 1.2404, 1.2347, 1.2312
• Resistance levels: 1.2531, 1.2602, 1.2671, 1.2787, 1,2951

The price has broken through the priority change level. The medium-term trend has changed to a downtrend. The MACD indicator has gone into the negative zone with no signs of reversal. Under such market conditions, it is best for the trader to look for sell positions from the resistance levels. There is no optimal entry point for buy positions now.

Alternative scenario: if the price breaks through the 1.2671 resistance level and fixes above, the uptrend is likely to be resumed.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga Senior Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the ascending correction continues. After breaking 38.2% fibo, GBPUSD is heading towards 50.0% fibo. However, it’s too early to expect the asset to reach the high at 1.4250. most likely, this correction will soon be replaced by a new descending wave with the short-term target at the low at 1.3572, a breakout of which may lead to a further downtrend towards the mid-term 50.0% fibo at 1.3463.

The H1 chart shows a more detailed structure of the current correctional uptrend, which is approaching 50.0% at 1.3911 and break it to reach 61.8% fibo at 1.3990. At the same time, there is divergence on MACD, which may indicate that the price is about to complete its short-term correction and resume falling towards the low.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, EURJPY has stopped its correctional uptrend and is currently trying to form a new descending structure to reach 50.0% and 61.8% fibo at 127.87 and 126.87 respectively. However, one shouldn’t expect the asset to extend the correction until it breaks the low. The key resistance is the high at 134.12.

As we can see in the H1 chart, divergence on MACD made the asset finish the correctional uptrend at 38.2% fibo. In this case, the pair may start a new descending wave to reach the low at 128.60. If later the instrument rebounds from the low, it may resume trading upwards to reach 50.0% and 61.8% fibo at 130.65 and 131.13 respectively.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.