Friday, July 29, 2016

EURUSD analysis for 29.07.2016

While USD is being under pressure for Fed’s decision on keeping rates unchanged, EUR is being empowered due to the positive statistics from Germany and Italy. The support rests at 1.10580 with resistance at 1.11080 which both lines are above the weekly pivot point at 1.10050. The EMA of 10 is moving horizontally and it is above the EMA of 100 which is rising. The RSI has fallen to the 50 level, the MACD indicator is falling down from the positive territory and the Stochastic is showing downward momentum. The potential decrease is towards 1.100 area.

https://fxglory.com/eurusd-analysis-for-29-07-2016/


AUDUSD analysis for 29.07.2016

The Fed announced that the rates will be unchanged at the moment therefore USD is under pressure. The support line for AUDUSD lies at 0.75170 with resistance at 0.75480 which both lines are above the monthly pivot point at 0.74320. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100. The RSI is falling down towards the 50 level, the MACD indicator is moving in neutral area and the Stochastic is showing downward momentum. Sellers can target 0.7400 for this pair today.

https://fxglory.com/audusd-analysis-for-29-07-2016/


Thursday, July 28, 2016

USDCAD analysis for 28.07.2016

USDCAD is under the influence of the oil price and the Fed’s policy statement. The support rests at 1.31120 with resistance at 1.31760 which both lines are above the weekly pivot point at 1.30790. The EMA of 10 is falling down towards the EMA of 100. The RSI is moving below the 50 level, the MACD indicator is moving towards the negative area and the Stochastic is showing downward momentum. The support level break through will pave the way for further decline towards 1.3100.

https://fxglory.com/usdcad-analysis-for-28-07-2016/


GBPUSD analysis for 28.07.2016

Despite the positive GDP for the second quarter, Pound fell yesterday. However it received some support from the news in the US. The support rests at 1.31790 with resistance at 1.3273 which both lines are above the weekly pivot point at 1.31610. The EMA of 10 is moving with bullish bias towards the EMA of 100. The RSI is falling down and has reached the 50 level, the MACD indicator is in neutral zone and the Stochastic is showing downward momentum. It seems that the 1.31 area is a strong support area for this pair at the moment. The pair is growing towards 1.3300.

https://fxglory.com/gbpusd-analysis-for-28-07-2016/


Tuesday, July 26, 2016

EURUSD analysis for 26.07.2016

Although German statistics left positive impact on EUR, EURUSD is still moving in low ranges. On the other hand the Fed meeting is supporting USD as well. The support lies at 1.09730 with resistance at 1.10210 which the weekly pivot point has been located in between of these lines at 1.10050. The EMA of 10 is moving below the EMA of 100 which indicates the recent price fall. The RSI is moving below the 50 level and the MACD indicator is in negative territory. Short positions are recommended with the target at 1.0900.

https://fxglory.com/eurusd-analysis-for-26-07-2016/


AUDUSD analysis for 26.07.2016

USD is staying neutral at the moment however the Fed meeting might support this pair. AUDUSD had a sharp rise today. The support rests at 0.74780 with resistance at 0.75510 which both lines are located above and below the weekly pivot point at 0.75030. The EMA of 10 is meeting the EMA of 100 below the pivot point. The RSI has already reached the overbought area and the MACD indicator is in neutral zone. The pair would not go higher therefore short positions are recommended with the target at 0.7500.

https://fxglory.com/audusd-analysis-for-26-07-2016/


Monday, July 25, 2016

USDCAD analysis for 25.07.2016

While CAD is getting support from the government fiscal stimulus program the oil price is limiting this currency’s growth. The support rests at 1.31090 with resistance at 1.31630 which both lines are above the weekly pivot point at 1.30790. The EMA of 10 is rising above the EMA of 100. The RSI is above the 50 level and the MACD indicator is in positive territory. While it is moving above the pivot point, the pair will grow to 1.3200.

https://fxglory.com/usdcad-analysis-for-25-07-2016/


GBPUSD analysis for 25.07.2016

As being still under the influence of Brexit issue, the pound fell along with poor economic reports. The support rests at 1.30940 with resistance at 1.31600 which both lines are below the monthly pivot point at 1.38150. The EAM of 10 is moving with bearish bias below the EMA of 100. The RSI is below the 50 level and the MACD indicator is staying neutral. The support level breakthrough will make the pair go lower targeting 1.2900.

https://fxglory.com/gbpusd-analysis-for-25-07-2016/



GBPUSD analysis for 22.07.2016

The unemployment data left a positive impact on the GBPUSD and today the PMI reports will influence this pair as well. The support rests at 1.31880 with resistance at 1.32800 which both lines are above the weekly pivot point at 1.31690. The EMA of 10 is rising towards the EMA of 75. The MACD indicator is in neutral territory, the ADX is showing strong buyers and the Stochastic is showing upward momentum. The support level breakdown will lower the price to 1.31 area, however the pair is rising towards 1.3350 at the moment.

https://fxglory.com/gbpusd-analysis-for-22-07-2016/


USDJPY analysis for 22.07.2016

USDJPY is under the influence of fiscal stimulus measures. The support rests at 105.270 with resistance at 106.470 which both lines are above the weekly pivot point at 103.870. The EMA of 10 has started its bearish trend along with the descendant channel towards the EMA of 75. The RSI is moving on the level 50 and the MACD indicator is declining towards the neutral area. The pair is falling at the moment so short positions are recommended with the target at 104.500.

https://fxglory.com/usdjpy-analysis-for-22-07-2016/


Thursday, July 21, 2016

NZDUSD analysis for 21.07.2016

NZDUSD fell due to the influence of RBNZ softening its monetary policy. This pair has been moving with bearish bias since the previous high at 0.73221.The support rests at 0.69570 with resistance at 0.70110 which both lines are below the weekly pivot point at 0.71800. The EMA of 10 is falling down drastically and it is located below the EMA of 75 showing the recent price decline. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward movement. The RSI is below the 50 level, the MACD indicator is in negative territory and the ADX is showing stronger sellers than buyers. Sellers next target is 0.6950 which might be the point for buyers to open their positions.

https://fxglory.com/nzdusd-analysis-for-21-07-2016/


USDCAD analysis for 21.07.2016

USDCAD is under the influence of some economic reports and data such as Philadelphia Fed, Existing Home Sales, Existing Home Sales and Leading Indicators in the US. The pair had been moving with bullish bias since the previous low at 1.28610 until it left a high at 1.309390. The support rests at 1.30200 with resistance at 1.30800 which both lines are above the weekly pivot point at 1.29870. The EMA of 10 is rising sharply above the EMA of 75 which is located on the weekly pivot point. The RSI is getting close to the 50 level, the MACD indicator is in positive territory however it is getting close to the neutral area and the Stochastic is showing downward momentum. There is a strong resistance around the 1.308 area we expect the price fall around the 1.28 area.

https://fxglory.com/usdcad-analysis-for-21-07-2016/


Monday, July 18, 2016

EURUSD analysis for 18.07.2016

EURUSD is chiefly under the influence of the ECB meeting about its monetary policy and also some economic data such as German Monthly Report in Europe and the US is releasing TIC Long-Term Purchases and the NAHB Housing Market Index. After the sudden drop of EURUSD on Friday this pair started today with a small bullish candle. Now the support rests at 1.10300 with resistance at 1.10820 which both lines are below the monthly pivot point at 1.11470. The EMA of 10 is moving with bearish bias below the EMA of 100. The RSI is below the 50 level and the MACD indicator is moving in negative territory close to the neutral zone. There is strong support around the 1.1030 area, the might be correction after the support level hit.

https://fxglory.com/eurusd-analysis-for-18-07-2016/


USDJPY analysis for 18.07.2016

Yen is pressured because of the Bonds market growth and USDJPY will be under the influence of some economic reports in the US such as TIC Long-Term Purchases and the NAHB Housing Market Index. After two strong pullbacks, USDJPY is continuing its bullish trend. The support rests at 105.080 with resistance at 106.160 which both lines are above the weekly pivot point at 103.870. The EMA of 10 has risen sharply and it is above the EMA of 100. The RSI is moving above the 50 level and the MACD indicator is in positive territory. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen is showing a horizontal movement while the Kijun-sen is showing an upward movement. The pair will grow to 107.00 so long positions are recommended at the moment.

https://fxglory.com/usdjpy-analysis-for-18-07-2016/


Friday, July 15, 2016

GBPUSD analysis for 15.07.2016

As Bank of England has decided not to change the rates, pound grew against USD. Today GBPUSD rose and created a bullish candle but then left two bearish candles. The support rests at 1.32690 with resistance at 1.35480 which both lines are above the weekly pivot point at 1.3027. The EMA of 10 is rising towards the EMA of 100 along with the ascendant channel. The RSI is moving in the overbought area, the MACD indicator is in positive territory and the ADX is showing stronger buyers than sellers. Considering the price growth it will rise to 1.3700 however if it falls it will drop to 1.2900.

https://fxglory.com/gbpusd-analysis-for-15-07-2016/


USDCAD analysis for 15.07.2016

USDCAD is massively under the influence of Canada’s new housing price index and Canada’s existing home sales data. Although this pair started today with a bullish candle then it was followed by two bearish candles and made the trend bearish. The support rests at 1.28330 with resistance at 1.29590 which both lines are below the weekly pivot point at 1.29850. The EMA of 10 is falling along the descendant channel and it is located below the EMA of 100. The RSI is below the 50 level and the MACD indicator is in negative territory. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen is showing downward momentum and the Kijun-sen is showing a horizontal movement. Long positions from before must be closed immediately and sellers can start their positions now.

https://fxglory.com/usdcad-analysis-for-15-07-2016/


Thursday, July 14, 2016

EURUSD analysis for 14.07.2016

EURUSD is finding some stability around the 1.10 area until the US decision about its economy. Today EURUSD is moving with neutral bias around the 1.10 area. The support rests at 1.10830 with resistance at 1.11280 which both lines are below the monthly pivot point at 1.11470. The EMA of 10 is moving towards the EMA of 100 and 200. The RSI is moving around the 50 level and the MACD indicator is in neutral zone. It would be better for investors to take a rest for this pair at the moment since it is going to fluctuate within the support and resistance line today.

https://fxglory.com/eurusd-analysis-for-14-07-2016/


USDJPY analysis for 14.07.2016

Since Japan is not releasing any economic reports today, USDJPY is under the influence of the US reports such as the Natural Gas Storage, Core PPI m/m, Unemployment Claims, and PPI m/m. The pair started today with a sharp bullish bias along with the ascendant channel. The support rests at 103.510 with resistance at 105.670 which both lines are above the weekly pivot point at 101.110. The EMA of 10 has risen towards the EMA of 200 and they are both above the EMA of 100. The RSI has reached the overbought area, the MACD indicator is in positive territory and the Stochastic has reached its highest range as well. There will be pullbacks at any time soon. Downward trend will make the price fall to 98.97.

https://fxglory.com/usdjpy-analysis-for-14-07-2016/


Wednesday, July 13, 2016

AUDUSD analysis for 13.07.2016

Not only AUDUSD is affected by the Brexit issue but also the Japan upcoming stimulus measures is supporting AUD as well. AUDUSD continued its bearish trend since yesterday but suddenly grew up back again. Now the support rests at 0.75650 with resistance at 0.76290 which both lines are above the weekly pivot point at 0.75140. The EMA of 10 is rising sharply above the EMA of 100. The RSI is above the 50 level and the MACD indicator is in positive territory. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen is showing upward movement while the Kijun-sen is showing a horizontal movement. The pair is moving toward the resistance zone and the resistance level breakout will push the pair toward higher ranges targeting 0.7800.

https://fxglory.com/audusd-analysis-for-13-07-2016/


USDJPY analysis for 13.07.2016

USDJPY is under the influence of Revised Industrial Production m/m in Japan and the Federal Budget Balance, Beige Book, 30-y Bond Auction, Crude Oil Inventories, and Import Prices m/m in the US. Yesterday after hitting the 105.00 level USDJPY fell but today it is rising again. The support rests at 103.880 with resistance at 104.700 which both lines are above the weekly pivot point at 101.110. The EMA of 10 is moving with bullish bias and has already passed the EMA of 100. The RSI is moving in the overbought area, the MACD indicator is in positive territory and the ADX is showing strong buyers. USDJPY upward continues until it reaches 106.

https://fxglory.com/usdjpy-analysis-for-13-07-2016/


GBPUSD analysis for 13.07.2016

Pound gained momentum by news of the possibility of Theresa May being the next prime minister although GBPUSD is still effected by the Brexit issue. GBPUSD is fluctuating above the weekly pivot point and is trying to rise back to its previous status before the Brexit. The support rests at 1.31600 with resistance at 1.33780 which both lines are above the weekly pivot point at 1.30270. The EMA of 10 is growing to reach the EMA of 100. The RSI is moving in the overbought area, the MACD indicator is in positive territory but the Stochastic is showing downward momentum. The pair will go to higher ranges however there will be strong resistance around the 1.3500 area to limit the pair’s upward momentum.

https://fxglory.com/gbpusd-analysis-for-13-07-2016/


USDCAD analysis for 13.07.2016

USDCAD is under the influence of some economic data such as Bank of Canada Monetary Policy Report and Interest Rate Decision. USDCAD fell towards the weekly pivot point at first and then rose yesterday but there was a pullback today again. The support rests at 1.30410 with resistance at 1.30950 which both lines are above the weekly pivot point at 1.29850. The EMA of 10 is located above the EMA of 100 and it is moving with bullish bias. The RSI is moving on the 50 level, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. The support level breakthrough will smooth the way for further low at 1.2460.

https://fxglory.com/usdcad-analysis-for-13-07-2016/


EURUSD analysis for 13.07.2016

Dollar is losing its strength against many currency pairs due to the latest USA Labour Market report. Today EURUSD started its trend with bearish bias falling down the descendant channel. The support lies at 1.10410 with resistance at 1.10860 which both lines are below the monthly pivot point at 1.11470. The EMA of 10 is moving below the EMA of 100 both with bearish pattern. The RSI is moving below the 50 level, the MACD indicator is in neutral zone and the Stochastic is showing downward momentum. The downward trend will continue but there is a strong support in 1.100 level.

https://fxglory.com/eurusd-analysis-for-13-07-2016/


Tuesday, July 12, 2016

NZDUSD analysis for 12.07.2016

The NZD is losing its power against the USD and also the oil prices is leaving impacts on this pair. NZDUSD is moving with bullish bias today within the ascendant channel. The support rests at 0.72130 with resistance at 0.73780 which both lines are above the monthly pivot point at 0.70590. The EMA of 10 is rising as well along with the EMA of 100. The RSI has reached the overbought area and there might be pullbacks at any time soon, the MACD indicator is in positive territory and the ADX is showing stronger buyers than sellers. 0.73 looks a strong resistance area therefore the price may not rise further, sellers can wait for price drop soon targeting 0.7150.

https://fxglory.com/nzdusd-analysis-for-12-07-2016/


USDJPY analysis for 12.07.2016

There are some economic data which will affect USDJPY for today such as the Tertiary Industry Activity m/m and 30-y Bond Auction, PPI y/y in Japan and the 10-y Bond Auction, Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index in the US. USDJPY has been moving with bullish bias for a while and it is getting close to the 61.8 of Fibonacci retracement. The support rests at 102.350 with resistance at 103.730 which both lines are above the weekly pivot point at 101.11. The EMA of 10 is growing sharply and it is getting near the EMA of 100. The RSI is moving in overbought area, the MACD is in positive territory and the ADX is showing strong buyers. The resistance level breakout will push the price to higher levels targeting 104.50.

https://fxglory.com/usdjpy-analysis-for-12-07-2016/



USDCAD analysis for 12.07.2016

USDCAD is under the influence of Canada’s unemployment rate and Canada’s housing starts data for June along with some economic reports in the US as such as 10-y Bond Auction, Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index. Today USDCAD had a sharp decline towards the support area falling down the descendant Andrew’s pitchfork. The support rests at 1.30350 with resistance at 1.31790 which both lines are above the weekly pivot point at 1.29850. The EMA of 10 is located above the EMA of 100 and they are both climbing up the ascendant channel. The RSI has reached the 50 level after its decline from the overbought area, the MACD indicator is in positive territory but the Stochastic is showing downward momentum. There would be a strong support around the 1.29 area therefore the pair may fall to this level but it is not going to fall further.

https://fxglory.com/usdcad-analysis-for-12-07-2016/


GBPUSD analysis for 12.07.2016

As the USD is gaining strength due to the employment report the British pound is getting weak as the result. Now the investors are waiting for the Bank of England meeting regarding the bank rates. Since yesterday the pair has been moving with bullish bias but has not reached the neutral zone yet. The support rests at 1.29370 with resistance at 1.31890 which both lines are below the monthly pivot point at 1.38150. The EMA of 10 is under the EMA of 100 but it is moving up. The RSI has crossed the 50 level rising up, the MACD indicator is in neutral territory and the Stochastic has reached its highest range so there might be pullbacks very soon. There will be strong resistance around the 1.3300 area however in terms of the price decline the target would be 1.2700.

https://fxglory.com/gbpusd-analysis-for-12-07-2016/


EURUSD analysis for 12.07.2016

The US employment data helped the USD grow along with the labour market. EURUSD will also be affected by German WPI m/m and German Final CPI m/m for EUR and the 10-y Bond Auction, Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index in the US. Since yesterday this pair has continued its bullish trend and there have not been any pullbacks on the way. The support rests at 1.10340 with resistance at 1.11120 which both lines are below the monthly pivot point at 1.11470. The EMA of 10 is still below the EMA of 100 but it is moving with bullish bias. The RSI is reaching above the 50 level, the MACD indicator is moving in neutral zone and the Stochastic may have reached its highest range and might fall at any time. Despite the pair’s bullish bias EURUSD is still in bearish zone. The upside trend will be limited around the resistance zone and the fall will target 1.0821.

https://fxglory.com/eurusd-analysis-for-12-07-2016/


Monday, July 11, 2016

USDJPY analysis for 11.07.2016

USDJPY is under the influence of some economic data such as the Prelim Machine Tool Orders y/y, M2 Money Stock y/y, Core Machinery Orders m/m, and the results of the Upper House Elections in Japan and the Labor Market Conditions Index m/m for the US. USDJPY started today with bullish bias trying to reach the monthly pivot point. The support lies at 100.820 with resistance at 102.860 which both lines are below the monthly pivot point at 104.300. The EMA of 10 is rising after its long term bearish look but it is located below the EMA of 100. The RSI is growing to the overbought area, the MACD indicator is moving towards the positive territory and the ADX is showing strong buyers. The pair may grow to 102.50 at the moment.

https://fxglory.com/usdjpy-analysis-for-11-07-2016/


GBPUSD analysis for 11.07.2016

The strong Trade Balance report supported the USD and weakened the GBP. This pair is still under the influence of Brexit issue. After the UK referendum GBPUSD has been moving with bearish bias. The support lies at 1.27710 with resistance at 1.30210 which both lines are below the monthly pivot point at 1.38150. The EMA of 10 is under the EMA of 100 and they are both falling down. The RSI is below the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. It seems that this pair will continue its downward trend within the descendant channel targeting 1.2700.

https://fxglory.com/gbpusd-analysis-for-11-07-2016/


EURUSD analysis for 11.07.2016

EURUSD is under the influence of the US labor report, non-farm payrolls and the unemployment rate. Looking at the long term view, EURUSD is moving with bearish bias within the descendant channel. The support rests at 1.10190 with resistance at 1.10730 which both lines are below the monthly pivot point at 1.11470. The EMA of 10 is located below the EMA of 100 and both are falling as well. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen are showing a horizontal movement. The RSI is declining and is below the 50 level, the MACD indicator is in negative territory and the Stochastic is not showing any upward momentum. Considering all these indicators short positions are recommended with the target at 1.1000.

https://fxglory.com/eurusd-analysis-for-11-07-2016/


Wednesday, July 6, 2016

USDCHF analysis for 06.07.2016

USDCHF is chiefly under the influence of economic data from the US such as Markit Comp PMI, Markit Svcs PMI, ISM Non-Manuf Composite, Trade Balance and MBA Mortgage Applications. This pair is going up the ascendant channel. The support rests at 0.97700 with resistance at 0.97870 which both lines are above the weekly pivot point at 0.97550. The EMA of 10 is rising as well and it is located above the EMA of 75. The RSI is reaching the overbought area, the MACD indicator is in neutral zone and the Stochastic is moving in high ranges. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen is moving horizontally. The pair is going higher targeting 1.0255.

https://fxglory.com/usdchf-analysis-for-06-07-2016/


NZDUSD analysis for 06.07.2016

NZDUSD is massively under the influence of economic data from the US such as Markit Comp PMI, Markit Svcs PMI and ISM Non-Manuf Composite. The pair is falling down the Andrew’s pitchfork after its previous high at 0.72378. The support rests at 0.70610 with resistance at 0.71330 which the weekly pivot point is located in between at 0.71150. The EMA of 10 is having a sharp decrease towards the EMA of 75. The RSI is getting closer to the oversold area, the MACD indicator is in positive territory with falling tendency and the Stochastic is moving horizontally in negative area. Short positions are recommended but for a short time then there would be a rebound to higher ranges.

https://fxglory.com/nzdusd-analysis-for-06-07-2016/



USDJPY analysis for 06.07.2016

With regards to the UK situation and the Italian banks, JPY is supported against USD. Considering the long term chart, the USDJPY has been falling down the descendant channel. The support lies at 100.310 with resistance at 101.470 which both lines are below the weekly pivot point at 102.410. The EMA of 10 is moving with bearish bias along with the EMA of 75 and 200. The RSI is in oversold area, the MACD indicator is in negative territory and the Stochastic is showing upward momentum. The pair is not going to go lower than 100.30 but after that it is going to rebound to higher ranges.

https://fxglory.com/usdjpy-analysis-for-06-07-2016/


GBPUSD analysis for 06.07.2016

Bank of England is planning new liquidity measures to take the control of financial matters. Furthermore, pound is falling against the USD. GBPUSD started today with bearish bias falling down the descendant channel. The support rests at 1.27150 with resistance at 1.30630 which both lines are below the weekly pivot point at 1.33050. The EMA of 10 is falling down as well and it is located below the EMA of 75. The RSI has hit the oversold area at 30 level and is trying to rise, the MACD indicator is in negative territory and the Stochastic is showing upward momentum. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing downward movement. The pair may fall lower to 1.29 but it would rise soon targeting 1.30.

https://fxglory.com/gbpusd-analysis-for-06-07-2016/


EURUSD analysis for 06.07.2016

While the Italian Government are thinking about ways to deal with the current market situation, EUR is getting weaker due to the Brexit issue. After hitting the previous high at 1.11850 EURUSD has been moving with bearish bias. The support rests at 1.10260 with resistance at 1.10700 which both lines are below the weekly pivot point at 1.10910. The EMA of 10 is falling sharply below the EMA of 75 along with the descendant channel. The RSI is still in oversold area but it is moving up, the MACD indicator is neutral area and the Stochastic has reached its bottom and there might be a rebound soon. The resistance level breakout is a good chance of Bulls return to this market. The potential target is 1.1200.


https://fxglory.com/eurusd-analysis-for-06-07-2016/


Tuesday, July 5, 2016

NZDUSD analysis for 05.07.2016

NZDUSD is chiefly under the influence of oil prices and some economic reports such as the US Durable Goods (M/M) and Factory Orders. This pair started today with bearish candles and is getting close to the support level. The support rests at 0.71800 with resistance at 0.72220 which both lines are above the weekly pivot point at 0.71150. The EMA of 10 is rising and it is located above the EMA of 75. The RSI is above the 50 level, the MACD indicator is in positive territory and the Stochastic is showing downward momentum. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing upward movement. The pair is moving upward so long positions are recommended with the target at 0.7250.

https://fxglory.com/nzdusd-analysis-for-05-07-2016/


EURUSD analysis for 05.07.2016

EURUSD is returning to its normal price after the UK referendum and now is chiefly affected by investor confidence indicator from Sentix. The pair is moving with bullish bias within the ascendant channel trying to reach its neutral zone but it is creating small candles on the way. The support rests at 1.11140 with resistance at 1.11400 which both lines are above the weekly pivot point at 1.10910. The EMA of 10 is below the EMA of 75 but it is climbing up the ascendant channel as well. The RSI is in 50 level, the MACD indicator is in neutral territory but the Stochastic is showing downward momentum. The pair still has the potential to go higher around the 61.8 of Fibonacci retracement otherwise it will fall to the pivot point line.

https://fxglory.com/eurusd-analysis-for-05-07-2016/


GBPUSD analysis for 05.07.2016

Things are getting back to normal after the UK referendum shock. GBPUSD is now under the influence of economic reports such as Construction sector activity which declined in June. The pair is moving with bearish bias within the descendant channel and today it created bearish candles as well. The support rests at 1.32080 with resistance at 1.32830 which both lines are below the monthly pivot point at 1.38150. The EMA of 10 is falling along with the EMA of 75. The RSI is falling down to the oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. This market is not going to be volatile and it will keep fluctuating in the same range therefore it would be better not to trade on this pair for now. The support level breakthrough will smooth the way for further decline targeting 1.2900.

https://fxglory.com/gbpusd-analysis-for-05-07-2016/


USDCAD analysis for 05.07.2016

As yesterday the US market was closed due to the Independence Day, today USDCAD is under the influence of US Durable Goods (M/M) and Factory Orders. Today USDCAD created a bullish candle and it is still moving above the 61.8 of Fibonacci retracement however it is still falling the descendant channel. The support rests at 1.28630 with resistance at 1.29030 which both lines are below weekly pivot point at 1.29630. The EMA of 10 is below the EMA of 75. The RSI is below the 50 level, the MACD indicator is in negative territory while the ADX is showing strong buyers. In terms of the support level breakthrough the pair will fall to 1.2654 however as the price has already hit the 61.8 of Fibonacci retracement the resistance level breakout will push the pair upwards targeting 1.3187.

https://fxglory.com/usdcad-analysis-for-05-07-2016/


USDJPY analysis for 05.07.2016

While the market is waiting for the Fed’s decision regarding the rates, USDJPY is ignoring the risk appetite. USDJPY started today with bearish bias and is hitting the ascendant channel bottom. The support lies at 101.460 with resistance at 102.690 which both lines are below the monthly pivot point at 104.300. The EMA of 10 is falling and it is located below the EMA of 75. The RSI is reaching the oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. Moreover, the price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward movement. Sellers can target 101.40.

https://fxglory.com/usdjpy-analysis-for-05-07-2016/


Monday, July 4, 2016

USDCAD analysis for 04.07.2016

Due to the Independence day in the US there is no important report to affect USDCAD but Canada is releasing Manufacturing PMI. USDCAD started today with bearish bias and it seems that today it is going to continue its decline within the descendant channel. The support rests at 1.28710 with resistance at 1.29210 which both lines are below the weekly pivot point at 1.29630. The EMA of 10 is staying at the same spot with the EMA of 75. The RSI is below the 50 level, the MACD indicator is in negative territory and the ADX is showing strong sellers. Short positions are recommended with the target at 1.2788.

https://fxglory.com/usdcad-analysis-for-04-07-2016/



USDJPY analysis for 04.07.2016

USDJPY is under the influence of consumer prices and household spending in Japan. USDJPY is rising so slowly after the previous low due to the UK referendum. The support lies at 102.45 with resistance at 102.93 which both lines are below the monthly pivot point at 104.300. The EMA of 10 is below the EMA of 75 showing the recent price fall. The RSI is on 50 level, the MACD indicator is in neutral territory as well but the Stochastic is showing upward momentum. If the pair fixates around the support zone, further decline will be expected around the 101.40 area.

https://fxglory.com/usdjpy-analysis-for-04-07-2016/


AUDUSD analysis for 04.07.2016

The AUD rose a little bit after the Friday trades however the USD is stable at the moment. AUDUSD is moving with bullish bias above the weekly pivot point. The support rests at 0.74580 with resistance at 0.75330 which both lines are above the weekly pivot point at 0.74410. The EMA of 10 is rising and has already passed the EMA of 75. The RSI is in overbought area and the MACD indicator is in positive territory while the Stochastic is showing downward momentum. 0.753 area appears to be a strong resistance zone for this pair, the reversal is about to happen targeting 0.7400.

https://fxglory.com/audusd-analysis-for-04-07-2016/


EURUSD analysis for 04.07.2016

EUR is being supported by the Business PMI report in Euro zone but the US market is closed on Monday due to the Independence day. Today EURUSD started its bullish bias above the weekly pivot point and is getting closer to the 50 of Fibonacci retracement. The support rests at 1.11180 with resistance at 1.11520 which both lines are above the weekly pivot point at 1.10910. The EMA of 10 is rising towards the EMA of 75. The RSI is above the 50 level, the MACD indicator is in neutral zone with bullish tendency and the ADX is showing strong buyers. The resistance level breakout will smooth the way for further rise to the 61.8 of Fibonacci retracement however after hitting this level sellers can start their trades.

https://fxglory.com/eurusd-analysis-for-04-07-2016/


GBPUSD analysis for 04.07.2016

GBP lost its power due to the Mark Carney speech regarding the Bank rates. GBPUSD has been moving horizontally after the Brexit impact on the pair. The Support rests at 1.32290 with resistance at 1.33400 which both lines are below the monthly pivot point at 1.38150. The EMA of 10 still falling down and is moving below the EMA of 75. The RSI is still below the 50 level, the MACD indicator is in negative territory and the ADX is showing stronger buyers than sellers. It does not seem if the pair is willing to move in higher or lower ranges than the support and resistance zone however the resistance level breakout will push the pair upward targeting 1.3700.

https://fxglory.com/gbpusd-analysis-for-04-07-2016/