InvestMacro

By TheTechnicalTraders.com

Everyone knows something bad is brewing not just in the USA but globally within the financial systems. Most countries are bankrupt, and almost all currencies have been losing value for the past year. Everyone is playing the game of musical chairs and getting creative with how they borrow, lend, create, and steal money in hopes the world does not catch on to just how corrupt and bad things really are.

It’s just a matter of time before we see another financial market meltdown and what I show you here today gives you an idea of just how close we could be to a market collapse.

The financial markets rarely repeat the same type of crisis, but most crisis’ cause the stock market to sell off and crash in the same way. Human nature and emotions do not change, and because traders and investors drive the price action of stocks we are able to profit from bear markets.

In fact, bear markets can be life-changing in a good way for those who know how to trade these market conditions. Because stocks fall 3-7 times faster than they rise, you can generate the same amount of returns someone who invested at the beginning of a 10-year bull market and sold at the top, but you can do this in 8-12 months because of how quickly prices fall.

Three Leading Sectors To Watch
Transports, Industrials, Small-Cap Stocks

The transportation sector refers to the transportation of goods or customers using major and regional airlines, railroads, shipping firms, ocean freight haulers, trucking, etc… It is these companies that see a slow down in the economy before almost everyone else as less shipping is required when sales slow or the economy is tightening using less food, fuel, or buying things in general.

The second sector is industrials. This works much like the transportation sector.

Last but not least is the Russell 2ooo small-cap stock index. These small and volatile stocks are the first to show signs that traders and investors are tightening their risk-reward ratios because they feel the stock market is overpriced and that a bear market could be near, and the last type of stock you want to own during a bear market are small-cap stocks.

2016 – 2019 Custom Chart of Three Sectors
Trans (IYT) + Industrials (XLI) + Russell (IWM) / 3

The chart below shows the recent and current day price action of these three leading sectors. Notice the long multi-year rally into the high of 2018 followed by the sharp distribution selling that warns the big money players unloaded their positions in these leading and leveraged sectors.

The 2019 rally has been strong but when you look at the big picture, the price is far from its 2018 highs and the price pattern is bearish (it points to lower prices) from a technical analysis standpoint.

2004 – 2008 Custom Chart of Three Sectors

The last bull market looks nearly identical in terms of the run-up in price, the top in 2007, and the distribution sell-off in these sectors. The 2008 rally was strong as well, but far from the 2007 highs as well.

What I want you to notice is the fact that these charts have moved nearly the same. Just like I mentioned earlier how bear markets price patterns repeat, so do bull market price patterns. The 2009 price action and 2019 price action are nearly identical and when you see the next chart you will see why the financial market is scary close to the next crisis/bear market.

2009 Market Crash Custom Chart
Trans (IYT) + Industrials (XLI) + Russell (IWM) / 3

Bases on the 2008 weekly chart below the US stock market could be literally 2-6 weeks away from collapsing. What makes this even scarier is that the market liquidity is the worst its been in my 23 years of trading meaning when the selling starts we will likely see some sort of flash crash as we saw in 2008, 2015, and 2018. Price drops so quickly by the time you figure out what you want to do and get your money properly positioned most of the move is already completed.

Eye Opening Gold Miners Charts and Analysis from 2008-09

There are several other really intriguing things happening that further confirm this analysis like how gold miners are outperforming US stocks, the gold : silver ratio above 85, the presidential cycle, the decade cycle and many more. It was actually all these other things that made me review these leading sectors here today. I’ll touch on these other topics in the next few articles later this week

The chart below shows you what the stock market and gold miners did just before the bull market topped and what they did after. Be aware, if you’re a gold bug you may not like this chart but you can’t argue with the truth of what miners did during the bear market and other bear markets for that matter.

See my updated chart showing where gold miners and the stock market is as of today within this cycle:  https://www.thetechnicaltraders.com/next-bull-and-bear-markets-are-now-set-up/ 

Concluding Thoughts:

In short, the bear market has been a long time coming, but finally, almost all the signs are showing that it’s about to start. As a technical analyst since 1997 having lost a fortune and making a fortune from bull and bear markets I have a good understanding of how to best attack the market during its various stages. Stay Tuned for Part II 

Be prepared for these incredible price swings before they happen and learn how you can identify and trade these fantastic trading opportunities in 2019, 2020, and beyond with our  Wealth Building & Global Financial Reset Newsletter.  You won’t want to miss this big move, folks.  As you can see from our research, everything has been setting up for this move for many months – most traders/investors have simply not been looking for it.

Join me with a 1 or 2-year subscription to lock in the lowest rate possible and ride my coattails as I navigate these financial market and build wealth while others lose nearly everything they own during the next financial crisis. Join Now and Get a 1oz Silver Round or Gold Bar Shipped To You Free.

I can tell you that huge moves are about to start unfolding not only in currencies, metals, or stocks but globally and some of these supercycles are going to last years. A gentleman by the name of Brad Matheny goes into great detail with his simple to understand charts and guide about this. His financial market research is one of a kind and a real eye-opener. 2020 Cycles – The Greatest Opportunity Of Your Lifetime

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

I’M GIVING AWAY – FREE GOLD & SILVER WITH MEMBERSHIPS

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Chris Vermeulen –  TheTechnicalTraders.com

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.12574
• Open: 1.12099
• % chg. over the last day: -0.41
• Day’s range: 1.12069– 1.12175
• 52 wk range: 1.1111 – 1.2009

The EUR/USD currency pair has gone down. Yesterday, the trading instrument fell by almost 50 points and hit key lows. The demand for the euro declined amid worsening economic sentiment in Germany. Additional support for USD was provided by positive data on US retail sales. Fed Chairman Jerome Powell reiterated that the regulator will take “appropriate measures” to ensure the country’s stable economic growth. At the moment, the EUR/USD currency pair is consolidating in the range of 1.12000-1.12250. Quotes EUR/USD have the potential to further decline. We recommend to open positions from key levels.

The Economic News Feed for 17.07.2019:

• – Consumer price index (EU) – 12:00 (GMT+3:00);
• – Real estate market report (US) – 15:30 (GMT+3: 00);
• – Beige Book (US) – 21:00 (GMT+3:00);

The price has fixed below 50 MA and 100 MA, which indicates the strength of the sellers.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is located near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.12000, 1.11500
• Resistance levels: 1.12250, 1.12400, 1.12500

If the price consolidates below the round level of 1.12000, the quotes will fall toward 1.11700-1.11500.

Alternatively, they could recover toward 1.12400-1.12500.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.25495
• Open: 1.25125
• % chg. over the last day: -0.43
• Day’s range: 1.25070 – 1.25203
• 52 wk range: 1.2438 – 1.3631

Currency pair GBP/USD once again moved to a decline. Sterling updated local lows. At the moment, GBP/USD quotes are consolidating. The key range is 1.25100-1.25400. The pound remains under pressure due to the uncertainty around Brexit. Trading instrument can decline further. Today we expect important statistics from the UK. You should open positions from the key levels.

At 11:30 (GMT+3:00) a report on the labor market in the UK will be published.

Indicators do not give accurate signals: the price has crossed 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.25100, 1.24800, 1.24400
• Resistance levels: 1.25400, 1.25800, 1.26300

If the price consolidates below 1.25100, the quotes will fall toward 1.24800-1.24600.

Alternatively, the quotes can grow toward 1.25700-1.25900.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.30312
• Open: 1.30472
• % chg. over the last day: +0.11
• Day’s range: 1.30442 – 1.30588
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has stabilized. CAD is in a lateral movement. Currently, the local support and resistance levels are 1.30350 and 1.30600. In the near future, technical correction of the trading instrument after a long fall is highly possible. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 17.07.2019 is calm.

Indicators do not give accurate signals: prices are fixed between 50 MA and 100 MA.

The MACD histogram is in the positive zone and continues to rise, indicating a correction of the USD/CAD quotes.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating a bearish mood.

Trading recommendations

• Support levels: 1.30350, 1.30200, 1.30000
• Resistance levels: 1.30600, 1.30900, 1.31150

If the price consolidates above 1.30600 the quotes can correct toward 1.30900-1.31100.

Alternatively, the quotes can fall toward 1.30000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 107.854
• Open: 107.909
• % chg. over the last day: +0.06
• Day’s range: 107.820 – 108.094
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to consolidate. Unidirectional trend is not observed. The safe harbor currency tests local support and resistance levels: 107.800 and 108.100, respectively. Financial market participants expect additional drivers. Today we recommend to pay attention to economic releases from the USA. Positions must be opened from key levels.

The news background on the Japanese economy is calm today.

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near0.

The Stochastic Oscillator is in the neutral zone, the% K line is above the% D line, which indicates bullish moods.

Trading recommendations

• Support levels: 107.800, 107.550
• Resistance levels: 108.100, 108.300, 108.600

If the price consolidates below the 107.800 mark, the quotes can descend toward 107.550-107.400.

Alternatively, the quotes can grow to 108.400-108.600.

by JustForex

by JustForex

The US dollar rose against a basket of major currencies after the publication of optimistic economic data. Thus, the core retail sales index rose in June by 0.4%, which turned out to be better than the forecasted value of 0.1%. Retail sales also increased in June by 0.4% instead of 0.1%. The US dollar index (#DX) closed yesterday in the positive zone (+0.51%).

Meanwhile, the Fed’s Chairman Powell gave a speech yesterday at the 75th anniversary of the Bretton Woods institutions and said that the regulator was closely monitoring the development of the US economy and was ready to take appropriate measures at any time to support its growth. “Uncertainties about this outlook have increased, however, particularly regarding trade developments and global growth,” Powell said, referring to the Fed’s baseline scenario for growth to “remain solid.”

The British pound remains under pressure amid concerns about the likely “hard” Brexit. It should be recalled that candidates for prime minister Jeremy Hunt and Boris Johnson opposed the Irish backstop, which makes it more likely that the UK will leave the EU without a deal on October 31. Also, ambiguous economic data put pressure on the pound. Thus, the average level of wages with premiums increased in May by 3.4% instead of 3.1%. However, the number jobless claims rose in June to 38.0K, while experts predicted 18.9K.

The euro is falling against the US dollar due to weak economic data from Germany. Thus, the economic sentiment index from ZEW decreased in July by 24.5 instead of 22.1.

The “black gold” prices are rising after lowering the day before. At the moment, futures for WTI crude oil are testing the mark of $57.95 per barrel. At 17:30 (GMT+3:00) crude oil inventories will be published.

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock markets: #SPY (-0.35%), #DIA (-0.07%), #QQQ (-0.52%).

The yield on 10-year US government bonds fell slightly. At the moment, the indicator is at the level of 2.10-2.11%.

– The UK consumer price index at 11:30 (GMT+3:00);
– The consumer price index in the eurozone at 12:00 (GMT+3:00);
– Statistics on the real estate market in the United States at 15:30 (GMT+3:00);
– The basic consumer price index in Canada at 15:30 (GMT+3:00);
– Fed’s “Beige Book” at 21:00 (GMT+3:00).

by JustForex

By Admiral Markets

Source: Economic Events July 17, 2019 – Admiral Markets’ Forex Calendar

The USD/CAD is currently eyeing a technically interesting level: the region around 1.3000.

A break lower could level the path down to 1.2780, which is definitely an option after last week. On Wednesday, comments made from US Fed chairman Powell at his testimonial before the House Financial Services Panel impacted the currency pair, while at the same time the BoC published their latest monetary policy statement.

While Powell said that a number of government policy issues have yet to be resolved, including trade developments, the federal debt ceiling, and Brexit, there is a risk that weak inflation will be even more persistent than the Fed currently anticipates, which brings back speculations of a 50bp rate cut from the Fed by the end of July. The BoC left interest rates at 1.75% on hold, even though they said that recent Canadian economic strength is not sustainable.

Still, the BoC statement didn’t clearly point to lower borrowing costs in the near-term similar to the Fed, which leaves the CAD as a potential strong performer against the USD, especially if inflation data today at 1230pm GMT comes in above 2% (as expected).

In fact, a higher than expected inflation reading is a serious option with WTI having gained more than 15% in June against the mark of 50 USD per barrel:

Source: Admiral Markets MT5 with MT5-SE Add-on USD/CAD Daily chart (between April 27, 2018, to July 16, 2019). Accessed: July 16, 2019 at 10:00 PM GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of the USDCAD increased by 9.4%, in 2015, it increased by 19.1%, in 2016, it fell by 2.9%, in 2017, it fell by 6.4%, in 2018, it increased by 8.4%, meaning that after five years, it was up by 28.4%.

Investing in Forex with Admiral Markets

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Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
5. Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.

Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.

By Admiral Markets

By Alpari.com

By Alpari.com

By George Prior

The U.S. governmental hearings on Facebook’s new cryptocurrency will boost the crypto sector and underscores that digital currencies are now mainstream.

This is the bullish assessment of the CEO and founder of one of the world’s largest independent financial advisory organizations, deVere Group.

Nigel Green’s comments come as the social media giant prepares to defend its cryptocurrency project, Libra, on the Hill.

The Senate hearing will take place today (Tuesday), with the House panel holding its hearing on Wednesday.

Mr Green affirms: “The high-profile scrutiny of this new cryptocurrency must be championed as cryptocurrencies are already part of the global financial system.

“They are here to stay. And their influence is set to grow exponentially.  As such, they should face the same scrutiny and meet the same standards and requirements as the rest of the financial system.

“This is a step in the right direction for establishing a robust global regulatory framework for the wider crypto market.”

Regulation is necessary, believes the deVere Group CEO, as it will provide further protection for the growing number of people using cryptocurrencies, the less likely it will be that criminals will use these digital payment methods, the less potential risk there will be for the disruption of global financial stability, and the more potential opportunities there will be for higher economic growth and activity in those countries which introduce it.

He continues: “Whatever you think about Facebook’s Libra as an individual cryptocurrency, these top-level U.S. governmental hearings underscore again that, as a concept, digital, global, borderless currencies are now a part of mainstream finance, and increasingly so.

“This is why most major financial institutions, tech giants, and of course institutional and retail investors are increasingly involving themselves in the burgeoning sector.”

The deVere CEO goes on to add: “Last week President Trump raised the issue of Bitcoin, with the effect of making cryptocurrencies become a presidential issue.  The hearings this week will make them a global policy issue.

“This all adds to greater awareness and acknowledgement of digital currencies that will further boost mass adoption and push up prices across the sector.”

Following the President’s Bitcoin comments last week, Mr Green commented:  “I agree with Mr Trump that Facebook’s new Libra project should be scrutinized.

“But, being the social media monolith that it is, it is surely expecting this level of scrutiny.  I would suggest that it is prepared for it, has the resources for it, and will welcome it, as it will make its cryptocurrency stronger.”

Nigel Green concludes: “Facebook’s Libra will likely get through these hearings on Capitol Hill in a stronger position. The scrutiny, which could advance the cause of regulation, will be welcomed by crypto investors as it provides more confidence.

“But whatever happens with the social media giant’s crypto project, it is clear from the top-level hearings that the U.S. government now understands that, whether they like it or not, people and institutions across the world are increasingly using a combination of sovereign and non-sovereign digital currencies.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

Article By RoboForex.com

AUDUSD

The instrument is trading at 0.703429 above the Ichimoku Cloud which suggests an ascending trend. Testing of the upper border of the Cloud near 0.7025 is expected, followed by growth to 0.7115. Yet another signal of growth may be a bounce off the support line. The scenario may no longer be valid in case the lower border of the Cloud is broken and trading closed under 0.6990, which may be followed by further decline below 0.6905.

NZDUSD

The instrument is trading at 0.6733 above the Ichimoku Cloud which suggests an ascending trend. A test of the signal lines near 0.6710 is expected, followed by growth to 0.6815. Yet another signal of growth may be a bounce off the support line. The scenario may no longer be valid in case the lower border of the Cloud is broken and trading closed under 0.6670, which may be followed by further decline to 0.6595.

USDCAD

The instrument is trading at 1.3047 below the Ichimoku Cloud which suggests a descending trend. Testing of the lower border of the Cloud near 1.3065 is expected, followed by decline to 1.2855. Yet another signal of decline may be a bounce off the resistance line. The scenario may no longer be valid in case the upper border of the Cloud is broken and trading closed above 1.3135, which may be followed by further growth to 1.3205.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

AUDUSD

On H4 the instrument is trading above the consolidation area. The growth of price up to the resistance level 8/8 is expected. The scenario may no longer be valid if the price breaks through 6/8, which may entail further decline to the support at 5/8.

On M15 the upper line of the VoltyChannel is broken. This signifies prevalence of an ascending trend and may result in further price growth.

NZDUSD

On H4 the instrument is trading in the overbought area. In this situation a breakthrough of 8/8 may lead to a correction down to 6/8. The scenario may no longer be valid if the instrument keeps growing, which may lead to a breakthrough of +2/8 and readjustment of the Murray lines. All in all, there is potential for growth but the goals may be determined after the readjustment of the lines.

On M15 the upper line of the VoltyChannel is broken through. This signifies high probability of further growth.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By TheTechnicalTraders.com

With earnings data starting to hit the markets and recent news that China’s economic activity levels shrank to levels not seen in nearly 30 years, we believe our proprietary Fibonacci price modeling system is showing us a target level in the NASDAQ (NQ) that will likely be reached within the next 7 to 10 days.  We believe once this target level is reached, the US stock market will immediately begin an extended topping formation with sideways price action and increased volatility) which will culminate in our August 19, 2019 setup date for a much deeper price correction.

At this time, traders should start to prepare for this topping event and prepare for price resistance to be found as the NQ nears this 8031 level – only 60 pts away.  If you are sitting on a bunch of profitable long trades, our suggestion would be to scale back 50% to 60% of these open positions and prepare for a top setup to begin within 7 to 10 days.  The volatility we expect to see over the next 30 days will likely be 2x or 3x current levels.

Nasdaq Daily Chart

This Daily NQ chart highlights the Fib Target Resistance level and shows our proprietary Fibonacci price modeling system’s current downside price targets (7760, 7400 and 7265).  These downside price target will change as the new price peak is established near the 8031 price level.

Nasdaq Weekly Chart

This NQ weekly chart highlights the same suggested resistance level (the YELLOW LINE drawn near the recent highs) and highlights deeper Weekly Fibonacci downside price targets near 6950, 6000 and 5950.

Our expectations are that economic weakness and price rotation will set up and begin a downside price move on or near August 19, 2019, based on our cycle research.  We believe this move will initially target a -6 to -9% downside price move, then extend into a much deeper price decline ending near the start of 2020 or within Q1 of 2020.

See my current trend and trade signals for the SP500 index here.

Conclusion:

Our researchers believe traders should be actively scaling back existing long positions in preparation for this top setup.  Key psychological levels have already been reached and the minute the NQ breaks above 8000, the key Fibonacci target level and the key psychological level (8000) become critical elements for the market top formation.

Now is the time to plan and prepare for these incredible price swings in the markets.  The next 18-24 months are certain to present technical traders with countless opportunities for success with these bigger price moves.

Our recent calls in the markets have resulted in over 42% in total gains over the past 60 days.  Isn’t it time you learned how TheTechnicalTraders.com can help you find and time better trades?

BECOME A TECHNICAL TRADER AND PROFIT WITH US

Chris Vermeulen
Technical Traders Ltd.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.12662
• Open: 1.12574
• % chg. over the last day: -0.10
• Day’s range: 1.12554– 1.12635
• 52 wk range: 1.1111 – 1.2009

The EUR/USD currency pair continues to consolidate. There is no defined trend. Local levels of support and resistance continue to be 1.12500 and 1.12800. Investors expect additional drivers. Today, investors will evaluate a number of important economic releases from Germany and the United States. We recommend to open positions from key levels.

The Economic News Feed for 16.07.2019:

• – ZEW Economic Mood Index (GER) – 12:00 (GMT+3:00);
• – Retail Sales Report (US) – 15:30 (GMT+3:00);

Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates bearish moods.

Trading recommendations

• Support levels: 1.12500, 1.12300, 1.12000
• Resistance levels: 1.12800, 1.13100, 1.13500

If the price consolidates above 1.12800, expect further growth toward 1.13100-1.13400.

Alternatively, the quotes can drop toward 1.12200-1.12000.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.25495
• Open: 1.25125
• % chg. over the last day: -0.43
• Day’s range: 1.25070 – 1.25203
• 52 wk range: 1.2438 – 1.3631

GBP/USD once again moved to a decline. GBP updated local lows. At the moment, GBP/USD quotes are consolidating. The key range is 1.25100-1.25400. The pound remains under pressure due to the uncertainty around Brexit. Trading instrument has the potential to further decline. Today we expect important statistics from the UK. Positions must be opened from key levels.

At 11:30 (GMT + 3:00) a report on the labor market in the UK will be published.

Indicators do not give accurate signals: the price has crossed 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.25100, 1.24800, 1.24400
• Resistance levels: 1.25400, 1.25800, 1.26300

If the price consolidates below 1.25100, a further drop in GBP/USD quotes is expected. The movement will tend toward 1.24800-1.24600.

Alternatively, the quotes can grow toward 1.25700-1.25900.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.30312
• Open: 1.30472
• % chg. over the last day: +0.11
• Day’s range: 1.30442 – 1.30588
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has stabilized. CAD is in lateral movement. Currently, the local support and resistance levels are: 1.30350 and 1.30600, respectively. In the near future, technical correction of the trading instrument after a long fall is not excluded. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 16.07.2019 is calm.

Indicators do not give accurate signals: prices are fixed between 50 MA and 100 MA.

The MACD histogram is in the positive zone and continues to rise, indicating a correction of the USD/CAD quotes.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating a bearish mood.

Trading recommendations

• Support levels: 1.30350, 1.30200, 1.30000
• Resistance levels: 1.30600, 1.30900, 1.31150

If the price consolidates above 1.30600, the price will rise toward 1.30900-1.31100.

Alternatively, the quotes can descend toward 1.30000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 107.854
• Open: 107.909
• % chg. over the last day: +0.06
• Day’s range: 107.820 – 108.094
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to consolidate. There is no defined trend. The safe harbor currency tests local support and resistance levels: 107.800 and 108.100, respectively. Financial market participants expect additional drivers. Today we recommend to pay attention to economic releases from the USA. Positions must be opened from key levels.

The Economic News Feed for 16.07.2019 is calm.

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near the 0 mark.

The Stochastic Oscillator is in the neutral zone, the% K line is above the% D line, which indicates bullish moods.

Trading recommendations

• Support levels: 107.800, 107.550
• Resistance levels: 108.100, 108.300, 108.600

If the price consolidates below the 107.800, the quotes will fall toward 107.550-107.400.

Alternatively, USD/JPY can grow to 108.400-108.600.

by JustForex