NZDUSD analysis for 03.08.2017

There are no major economic reports in New Zealand, however, the US is publishing ISM Non-Manufacturing PMI and Unemployment Claims. The support rests at 0.73830 with resistance at 0.74090 which both lines are below the weekly pivot point at 0.74900. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 100 and 200. The RSI is moving in oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend. The support level breakthrough will drag the price to lower levels otherwise the pair will start its correction pattern towards 0.7550. https://fxglory.com/nzdusd-analysis-for-03-08-2017/

GBPUSD analysis for 03.08.2017

UK inflation hearings, BOE rate announcement and statement along with BOE Governor Carney’s speech will have a great impact on GBPUSD. The support rests at 1.32120 with resistance at 1.32440 which both lines are above the weekly pivot point at 1.30920. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving horizontally below the overbought area, the Stochastic is showing downward momentum and MACD indicator is in positive territory. The ADX is not showing any clear signals. Long positions are recommended targeting 1.3450. https://fxglory.com/gbpusd-analysis-for-03-08-2017/

EURUSD analysis for 03.08.2017

USD was weakened again due to ADP employment report and today there are no important economic reports to influence EURUSD. The support rests at 1.18270 with resistance at 1.18670 which both lines are above the weekly pivot point at 1.17110. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving horizontally below the overbought area, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. Pullbacks cannot be considered as a start of the correction pattern. The pair will be choppy between 1.82 and 1.9 area. https://fxglory.com/eurusd-analysis-for-03-08-2017/

USDJPY analysis for 02.08.2017

Japan is releasing the Consumer Confidence and Monetary Base y/y data along with the US publishing Crude Oil Inventories and ADP Non-Farm Employment Change. The support rests at 110.160 with resistance at 110.960 which both lines are below the weekly pivot point at 111.130. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is rising towards the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in negative territory. The ADX is showing buy signals. USDJPY will continue its bearish trend towards 109 area. https://fxglory.com/usdjpy-analysis-for-02-08-2017/

EURUSD analysis for 02.08.2017

It seems that USD becoming weak has been a policy of the Trump government. EUR is appearing strong due to PMI data from Germany. The support rests at 1.17800 with resistance at 1.18500 which both lines are above the weekly pivot point at 1.17110. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving horizontally in overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals. Long positions are recommended targeting 1.19. https://fxglory.com/eurusd-analysis-for-02-08-2017/

AUDUSD analysis for 02.08.2017

AUDUSD is under the influence of some economic reports such as the Reserve Bank of Australia’s interest rate statement and Building Permits MoM in Australia and ADP Employment Change in the US. The support rests at 0.79270 with resistance at 0.79810 which both lines are above the monthly pivot point at 0.78800. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving on the 50 level, the MACD indicator is in neutral territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. It is difficult to see the trend direction therefore if the support level is broken, the pair will drop to 0.7900 otherwise it will rise towards 0.90. https://fxglory.com/audusd-analysis-for-02-08-2017/

USDJPY analysis for 31.07.2017

Japan is publishing Housing Starts y/y and preliminary industrial production m/m along with the US releasing some economic data such as Pending Home Sales m/m and Chicago PMI. The support rests at 110.240 with resistance at 111.860 which both lines are below the weekly pivot point at 111.130. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and above the EMA of 200. The RSI is rising towards the 50 level, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is not showing any clear signals. The resistance level breakout will smooth the way for further growth otherwise the pair will drop to 109.8. https://fxglory.com/usdjpy-analysis-for-31-07-2017/