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Forex technical analysis

Forex Technical analysis week: 17-21 July 2017

USDJPY Technical analysis July-19-2017

USDJPY is under selling pressure today and sellers now are in full control as the pair broke below the 50d MA and 100d MA and now it is targeting the 111.21 level, meanwhile USD is weak across the board.

AUDUSD Technical analysis July-12-2017

AUDUSD made an impressive rally the last days but now have reached overbought levels, meanwhile USD looks strong across the board, a profit taking looks possible.

EURUSD Technical analysis July-12-2017

EURUSD is under pressure after Yellen’s speech and broke all the supports just to hit the daily low at 1.1391 the strong support of 200h MA I will enter a long position as we expect the pair to rebound from that support and regain 1.14 level

EURUSD Technical analysis July-11-2017

EURUSD is making new yearly highs, the consolidation around 1.14 has ended with a break to the upside getting help from Donald Trump Jr. posts about email chain with Russian lawyer offer to provide information on Clinton. A close above 1.1465 will give bulls a chance to reach 1.15

GBPUSD Technical analysis July-11-2017

GBPUSD is trading higher today and has already made two attempts to break above the 100h MA. 1.2920 level looks like a strong resistance and we expect the pair to pullback.

USDJPY Technical analysis July-10-2017

The pair failed today to break above the May high at 114.36, it stopped at 114.29, but there is nothing to worry the longs as the pair holds above 114. So stay long as USDJPY is trading above 114, first resistance at 114.36 and then 114.95

GBPUSD Technical analysis July-07-2017

GBPUSD breaks below the 1.29 level after worst than expected manufacturing and industrial production data. Investors dump GB amid expectations that the UK economy could be headed for a slowdown and short term trend broke below the 200h MA

EURUSD Technical analysis July-04-2017

EURUSD is trading in narrow trading range just 41 pips from low to high as us markets are closed. EUR bullish momentum is still intact but we expect a minor pullback for later today

USDCAD Technical analysis June-28-2017

USDCAD is approaching again the daily lows at 1.2964, an early USD reaction earlier today ended just above 1.30. Stay short as long as the pair is trading below 1.2985. Remember that the CAD is often traded as a proxy for crude oil, so make sure that you are watching to what’s going on in that market. Today is Independence Day in USA, and that will work against volume in USDCAD, as the pair is heavily weighted towards North American trading




USDCAD Technical analysis June-28-2017

USDCAD is down 1.10% to lows that we haven’t seen since February 24. The pair has reached oversold level and the crude price is still under pressure, we expect a short recovery from that level.

EURUSD Technical analysis June-27-2017

EUR bulls are back in town breaking above the 1.13 level and bears are running away. I expect more buying as long as the pair hold above 1.13

EURUSD Technical analysis June-26-2017

There is something that we don’t like about the EUR today. The pair moved above last week high at 1.1212 and hit 1.1219, even the macro news was against USD like the Dallas Fed activity index which was lower than expectations, the pair failed to hold the gains and broke below the 1.12 level. The move today suggests that buyers are not very confident and a move lower looks possible.

EURUSD Technical analysis June-23-2017

Finally the pair after trading for 4 days in very narrow trading range (30-40 pips) managed to break emphatically above the 200h MA enhancing the long term bullish momentum for EUR

USDCAD  6-22-2017

Strong Canadian retail sales send the USDCAD to daily low at 1.3207 down more than 100 pips for the day. Meanwhile crude oil is trading 1.4% higher after 4 days of losses. Sellers are in full control of the situation here as better macro data increase the chance of a rate hike on July 12th by Bank of Canada.

GBPUSD  6-21-2017

It looks like the gbpusd found support at the 100d MA and that gave the buyers some confidence. We are not very sure if the rebound will last but i will give it a try targeting the area below intraday high around 1.2682

EURUSD Technical analysis June-20-2017

EURUSD short term outlook has turn negative as sellers took control and every rebound looks like an opportunity for entering short positions. Major support is the 50d MA at 1.1012

GBPUSD bearish momentum 6-20-2017

GBPUSD is under heavy selling pressure today and found support just at 1.2602 level. The pairs momentum turn bearish as it broke below the 100d MA and now the next support could be found in 1.2578 which is the 50% of the move up from March low. Stay short as long as the price trades below the 100d MA

EURUSD Technical analysis June-19-2017

EURUSD is trading in a narrow trading range but since last week the pair short term view looks bearish even that the long term picture is bright. We believe that as long as the pair is trading below 1.12 you should keep your short position, a break above 1.12 will give bulls a chance.




 

 

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