InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1836
• Prev Close: 1.1811
• % chg. over the last day: -0.21%

Considering the good labor market data, the dollar index has slightly strengthened, which caused a slight decrease in the EUR/USD quotes (inverse correlation). Europe is reporting on inflation today. Economists are confident that the CPI number will not exceed the 2% target.

Trading recommendations

• Support levels: 1.1791, 1.1746, 1.1609
• Resistance levels: 1.1834, 1.1889, 1.1934, 1.1969

The trend is still bearish. The price did not manage to break through the dynamic level of the moving average. The MACD indicator is inactive. Under such market conditions, it is better to consider intraday trading. For sell positions, traders should wait for a pullback to the resistance level. Entries for long positions can be found on support levels but with short targets since this kind of trading will be against the trend.

Alternative scenario: if the price breaks through the 1.1889 resistance level and fixes above, the general uptrend is likely to be resumed.

News feed for 2021.07.16:

• – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
• – US Retail Sales (m/m) at 15:30 (GMT+3);
• – US UoM Consumer Sentiment (m/m) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3859
• Prev Close: 1.3824
• % chg. over the last day: -0.25%

The UK labor market is recovering. The number of jobs increased by 356,000. Annual wage growth increased from 5.7% to 7.3%, and the unemployment rate remained unchanged at 4.8%. The UK is getting ready to reopen the economy, and the British pound gained a stronger position than the euro.

Trading recommendations

• Support levels: 1.3805, 1.3756
• Resistance levels: 1.3899, 1.3923, 1.4002, 1.4075, 1.4101, 1.4138, 1.4191

The GBP/USD trend is bearish on the H1 timeframe. The price is trading in a wide range now. The MACD indicator has become inactive. Under such market conditions, it is better to consider intraday trading. For sell positions, traders should wait for a pullback to the resistance level. Entries for long positions can be found on support levels.

Alternative scenario: if the price breaks through the 1.3922 resistance level and consolidates above, the bearish scenario is likely to be canceled.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.62
• Prev Close: 109.83
• % chg. over the last day: -0.08%

Japan’s central bank kept its key monetary policy easing measures unchanged and retained its inflation target at 2%. The bank also announced that it would provide zero percent loans to increase investment in green initiatives.

Trading recommendations

• Support levels: 109.63, 109.31
• Resistance levels: 110.47, 110.73, 111.06, 111.48, 110.73, 112.18

From the point of view of technical analysis, the situation has not changed. There is a downward trend on the H1 timeframe, as the price is still trading below the priority change level and below the moving average. The MACD indicator has become inactive. Under such market conditions, traders are better to look for sell positions from the resistance levels on intraday timeframes. Buy positions should be considered from support levels, but only with short targets.

Alternative scenario: if the price rises above 110.73, the uptrend is likely to be resumed.

News feed for 2021.07.16:

• – BoJ Monetary Policy Statement at 06:00 (GMT+3);
• – BoJ Outlook Report at 06:00 (GMT+3);
• – BoJ Press Conference at 06:00 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2502
• Prev Close: 1.2592
• % chg. over the last day: +0.72%

The USD/CAD currency pair increased by 0.72% yesterday. The growth was caused by two factors: the growth of the dollar index and the decline in oil prices. The Canadian dollar is a commodity currency, so a decline in oil prices has a negative impact on the CAD.

Trading recommendations

• Support levels: 1.2519, 1.2448, 1.2404, 1.2347, 1.2312, 1.2260, 1.2190
• Resistance levels: 1.2587

Technically, the trend remains bullish. The price is still trading above the moving average and above the priority change level. The MACD indicator is in the positive zone with no signs of reversal. Under such market conditions, it is best to look for buy trades from the support levels. There are no optimal entry points to open sell positions now.

Alternative scenario: if the price breaks through the 1.2370 support level and fixes below, the downtrend 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 JustForex

Jobless claims in the United States decreased by 26,000 to 360,000. It’s the lowest number in the last 16 months. The number of repeated claims also fell by 126,000 to 3.2 million. The labor market is recovering, but the US stock market closed without a single trend yesterday. The oil and gas, technology, and consumer services sectors showed negative index dynamics. The financial sector and utilities sectors showed growth dynamics. The S&P 500 decreased by 0.33%, the Dow Jones increased by 0.15% and the Nasdaq fell by 0.7%. At the same time, the positive quarterly results of the banks, which surpassed all expectations, do not contribute to the growth of indices, as investors are concerned about the rapid spread of the Delta strain and the possible beginning of a new wave of a global pandemic.

The European stock market closed in the red zone yesterday. Markets were put under pressure by concerns about the faster-than-expected tightening of monetary policies of the central banks and the rapid spread of the Delta strain of the coronavirus. Europe is reporting on inflation today. Economists are confident that the CPI will not exceed the target of 2% (the previous figure was 1.9%). A value above 2% may trigger a sell-off in the stock market.

Oil prices are falling as news that the UAE has reached a compromise on increasing oil production quotas with OPEC+ countries was confirmed. According to the new data, UAE has agreed on a new production benchmark of 3.65 Mbps (currently 3.17 Mbps).

The situation with gold remains unchanged. Prices of precious metals are highly dependent on two factors: the dollar index and, especially, the US government bond yields. The lower the government bond yields are, the higher the gold prices will be. It should also be noted that gold imports into India increased by 4.4 times in the first half of the year compared to the same period in 2020. India is one of the largest consumers of gold in the world, with almost no production of its own.

The Bank of Japan kept key monetary policy parameters unchanged, but slightly raised its inflation forecast and lowered its GDP growth forecast for next year. Inflation in Japan is expected to be 0.6% in the current fiscal year and strengthen to 0.9% and 1% in the next two years, respectively. The regulator also said it will provide zero-percent loans to boost investment in green initiatives.

Main market quotes:

S&P 500 (F) 4,360.03 -14.27 (-0.33%)

Dow Jones 34,987.02 +53.79 (+0.15%)

DAX 15,629.66 -159.32 (-1.01%)

FTSE 100 7,012.02 -79.17 (-1.12%)

USD Index 92.58 +0.17 (+0.19%)

• – New Zealand Consumer Price Index (m/m) at 01:45 (GMT+3);
• – BoJ Monetary Policy Statement at 06:00 (GMT+3);
• – BoJ Outlook Report at 06:00 (GMT+3);
• – BoJ Press Conference at 06:00 (GMT+3);
• – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
• – US Retail Sales (m/m) at 15:30 (GMT+3);
• – US UoM Consumer Sentiment (m/m) at 17:00 (GMT+3).

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, 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

By Lukman Otunuga, 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

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the asset is still trading upwards. After forming several reversal patterns, such as Engulfing, not from the support level, XAUUSD may reverse and start a new growth to reach the resistance area at 1850.00. At the same time, an opposite scenario implies that the price may correct towards 1815.00 before resuming its ascending tendency.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the ascending impulse continues. By now, NZDUSD has formed several reversal patterns, such as Harami, close to the support level. The correctional target is the resistance area at 0.7100. After testing this level, the asset may break it and continue moving upwards. However, an alternative scenario implies that the price may fall towards 0.6995 before resuming its growth.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is still trading within the uptrend. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the support area. At the moment, the pair may reverse and start a new growth towards the resistance level. In this case, the upside target may be at 1.3970. After testing this level, the market may break it and continue growing. Still, there might be an alternative scenario, according to which the asset may correct towards the support area at 1.3780 and then resume the ascending tendency.

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.

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating the completion of the correction within the uptrend. In this case, the price is expected to break 6/8 and resume growing to reach the resistance at 7/8. Still, this scenario may no longer be valid if the price breaks the 200-day Moving Average to the downside. After that, the instrument may reverse and fall towards the support at 5/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue moving upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price rebounds from 2/8. After that, the instrument may reverse and fall towards 1/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

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.

July 15, 2021

Limassol, Cyprus

RoboMarkets, the company that provides financial services to European clients, announces reception of the “Best Stocks Broker” award, which is presented within the frameworks of the “Global Forex Awards 2021 – B2B”.

RoboMarkets has won the “Best Stocks Broker” for the second straight year. It shows that the trader community highly appreciates the products and services offered by the company for trading on the stock market.

The company’s clients have access to over 12,000 trading instruments, including more than 3,000 American stocks that are traded without any commissions in R Trader, RoboMarkets’ proprietary multi-asset trading platform. They can also use a free trading strategy builder, which has an intuitive interface and requires no programming skills.

Global Forex Awards 2021 – B2B brings together the world’s leading companies that make the greatest contribution to the development of trading solutions and innovations for financial markets. Awards are presented to the industry’s best representatives in the areas of liquidity provision, client services, order execution, affiliate conditions, platforms and performance, as well as other important aspects of the Forex B2B market. The winners are decided by open voting among clients of forex companies from all over the world.

Konstantin Rashap, RoboMarkets development manager in Europe: “We’ve received this award for the second year in a row, and it not only confirms the efficiency of our work but also shows that a lot of traders all over the world use our products on the stock market and highly value the trading experience they get. We do not rest on our laurels – RoboMarkets is constantly improving investment conditions and expanding the list of available assets. We have great plans for developing in this area and will consistently turn them into reality.”

About RoboMarkets

RoboMarkets is an investment company with the CySEC license No. 191/13. RoboMarkets offers investment services in many European countries by providing traders, who work on financial market, with access to its proprietary trading platforms. More detailed information about the Company’s products and activities can be found on the official website at www.robomarkets.com.

RoboForex, the company that provides brokerage services for trading on global financial markets, announces reception of the “Best Mobile Trading App” award, which is presented within the frameworks of the “Global Forex Awards 2021 – B2B”.

The award has been given out to the application for trading named R Mobile Trader. This application is a comprehensive mobile workstation for traders, which has a set of intuitive management tools, and allows them to perform trading operations, deposit funds quickly and securely, and analyze financial markets. Moreover, the application offers the company’s clients the option to contact its live support and get their questions answered. Taken together, these features help R Mobile Trader to provide the clients with an excellent trading experience.

Every year, Global Forex Awards organizers present awards to the companies, which demonstrate outstanding results in providing services on financial markets. Global Forex Awards are presented to the best companies and brands of the Forex market, both globally and regionally. They are awarded to the forex brokers that implement the most advanced and cutting-edge technologies, apply complex market research tools and progressive educational programs, and introduce up-to-date business solutions to provide clients with top-class services.

Robert Stephenson, Chief Business Officer at RoboForex: “We’re very pleased to receive this award for the second consecutive year. Mobile applications for trading allow to get access to financial markets from any spot of the Earth and that’s very important in the modern world. It’s very essential for our clients to have access to their trading accounts at any time and any place where there is an internet connection. In our R Mobile Trader application, they can perform trading operations in just a few clicks. They have over 12,000 trading instruments at their disposal, as well as quality analytics and 24/7 customer support right in the application.”

About RoboForex

RoboForex is a company, which delivers brokerage services. The company provides traders, who work on financial markets, with access to its proprietary trading platforms. RoboForex Ltd has the brokerage license IFSC 000138/210. More detailed information about the Company’s products and activities can be found on the official website at Roboforex.com.

By Orbex

GBPUSD bounces off Fibonacci level

The better-than-expected UK CPI in June has lifted the sterling across the board.

Price action has seen strong support above 1.3730, a critical demand zone on the daily chart. After the initial rally, the pair has bounced off the 61.8% Fibonacci retracement level (1.3800) while the RSI recovered back to the neutral area.

Following a previous failed attempt, a bullish breakout above the supply zone around 1.3920 could boost confidence on the buy-side and trigger a reversal.

Then the psychological level of 1.4000 would be the next target.

USDCAD gains key support

The Canadian dollar softened after the BOC cut its bond-buying less aggressively than expected. The pair previously saw profit-takings near the recent top at 1.2550.

The RSI’s triple top in the overbought area was already a sign of overextension. The price has once again bounced off 1.2430, a former resistance turned into a support. A bullish breakout could extend the rally beyond 1.2600.

But if buyers struggle to hold the range, the greenback could be vulnerable to a sell-off. Then 1.2300 would be the next stop.

NZDUSD rallies to major resistance

The New Zealand dollar soared after the RBNZ cut its QE program in anticipation of policy tightening.

The initial surge above 0.7010 reveals renewed buying interest after the kiwi spent weeks above the important daily support at 0.6920.

The psychological level of 0.7000 saw its role reversed into a support. A rally above 0.7060 brings the kiwi closer to the critical supply area at 0.7100. Its breach may trigger a bullish reversal.

In the meantime, an overbought RSI can lead to a limited pullback as buyers build their momentum.

By Orbex

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1775
• Prev Close: 1.1836
• % chg. over the last day: +0.52%

With the Fed not planning to cut the QE program, the dollar index started moving downward again, triggering a rise in the EUR/USD currency pair (inverse correlation). Investors are waiting for US labor market data and consumer price index data from European countries, which will be released today and tomorrow.

Trading recommendations

• Support levels: 1.1791, 1.1746, 1.1609
• Resistance levels: 1.1834, 1.1889, 1.1934, 1.1969

The trend is still bearish. After the decline in the dollar index, the buyers’ pressure has increased again, making the price return to the wide range. The MACD indicator has returned to the positive zone. Under such market conditions, it is better to trade intraday. For sell positions, traders should wait for a pullback to the resistance level. Entries for long positions can be searched on support levels, but with short targets, as it will be trading against the trend.

Alternative scenario: if the price breaks out through the 1.1889 resistance level and fixes above, the general uptrend is likely to be resumed.

News feed for 2021.07.15:

• – US Initial Job Claims (w/w) at 15:30 (GMT+3);
• – US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+3);
• – US Industrial Production (m/m) at 16:15 (GMT+3);
• – US Fed Chair Jerome Powell’s Testimony at 16:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3811
• Prev Close: 1.3858
• % chg. over the last day: +0.34%

Inflation in the UK exceeded the Bank of England target of 2% and reached 2.5%. This is the highest level since August 2018. Bank of England deputy governor John Cunliffe said that the central bank would carefully examine how sustainable inflation can be and only then will take action. For now, the Bank of England predicts that the inflation rate will reach 3% by the end of the year. The UK is getting ready to reopen the economy.

Trading recommendations

• Support levels: 1.3835, 1.3756
• Resistance levels: 1.3923, 1.4002, 1.4075, 1.4101, 1.4138, 1.4191

The GBP/USD trend is bearish on the H1 timeframe. The price is trading in a wide range now. The MACD indicator has become inactive. Under such market conditions, it is better to trade intraday. For sell positions, traders should wait for a pullback to the resistance level. Entries for long positions can be searched on support levels.

Alternative scenario: if the price breaks out through the 1.3922 resistance level and consolidates above, the bearish scenario is likely to be canceled.

News feed for 2021.07.15:

• – UK Average Earnings Index (m/m) at 09:00 (GMT+3);
• – UK Claimant Count Change (m/m) at 09:00 (GMT+3);
• – UK Unemployment Rate (m/m) at 09:00 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 110.62
• Prev Close: 110.94
• % chg. over the last day: -0.62%

USD/JPY quotes sharply decreased amid the falling dollar index. The representative of the ruling party of Japan, Heizo Takenaka, in his interview for Bloomberg, said that Japan needs an additional $270 billion to support economic growth after the pandemic. It will take a long time before the gap between supply and demand in the economy is filled. Japan’s central bank is unlikely to change its monetary policy at its meeting tomorrow.

Trading recommendations

• Support levels: 109.63, 109.31
• Resistance levels: 110.47, 110.73, 111.06, 111.48, 110.73, 112.18

From the point of view of technical analysis, there is a downward trend on the H1 timeframe, as the price is still trading below the priority change level. The MACD indicator returned to the negative zone. Under such market conditions, traders are better to look for sell positions from the resistance levels on intraday timeframes. Buy positions should be considered from support levels, but only with short targets.

Alternative scenario: if the price rises above 110.73, the uptrend 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: 1.2510
• Prev Close: 1.2506
• % chg. over the last day: -0.03%

Canada’s central bank kept its key interest rate at 0.25% but cut its growth economy forecast for 2021 and plans to cut weekly federal bond purchases from $3 billion to $2 billion. The central bank said it expects the economy to grow 6.0% in 2021 (previous forecast 6.5%) and 4.6% in 2022 (previous forecast 3.7%). Also, the Bank will keep the rate near zero until the economy is ready to handle a rate hike, which is not scheduled until the second half of 2022.

Trading recommendations

• Support levels: 1.2519, 1.2448, 1.2404, 1.2347, 1.2312, 1.2260, 1.2190
• Resistance levels: 1.2587

Technically, the trend remains bullish. The price is still trading above the moving average and above the priority change level. The MACD indicator is in the positive zone with no signs of reversal. Under such market conditions, it is best to trade on the lower timeframes. Buyers may look for trades from the support levels within the day. There are no optimal entry points to open sell positions now.

Alternative scenario: if the price breaks down through the 1.2370 support level and fixes below, the downtrend 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.