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/

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/