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/

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/