InvestMacro

By Admiral Markets

Source: Economic Events July 10, 2019 – Admiral Markets’ Forex Calendar

Today, we want to focus on the FOMC Minutes which will be published later today and their potential impact on the USD/JPY.

In one of our last technical pieces on the USD/JPY our headline read: “USD/JPY positive on Mnuchin’s trade deal comment – sell the bounce?”

That was shortly before the G20 summit in Osaka, and initially, the USD/JPY was again sold against the upper trendline. But the bearish momentum which was taken on wasn’t strong enough to push the currency pair towards and below new yearly lows around 106.70.

Instead, the USD/JPY broke out of the downtrend channel and is now eyeing 109.00 again, mainly driven by a very solid NFP reading last Friday. The reason that is noteworthy is that, as a result, the probability of a 50bp rate cut from the Fed coming on the July 31 was completely priced out and drove 10-year US yields higher, and thus the USD/JPY.

With that in mind, today’s FOMC Minutes will be carefully reviewed for any signs noting if a 50bp rate cut is still an option with a small probability, even after a strong job report.

If yes, the USD/JPY has a serious chance of another aggressive push lower, and 106.70 could be on the table again into the second half of the week.

If no, in our opinion there seems to be no reason not see the USD/JPY make it back above 109.00, even though we stay mid-term sceptical for the long-side in the currency pair.

Source: Admiral Markets MT5 with MT5-SE Add-on USD/JPY Daily chart (between April 20, 2018, to July 9, 2019). Accessed: July 9, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of USD/JPY increased by 13.7%, in 2015, it increased by 0.5%, in 2016, it fell by 2.8%, in 2017, it fell by 3.6%, in 2018, it fell by 2.7%, meaning that after five years, it was up by 4.1%.

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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.
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By Admiral Markets

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.12141
• Open: 1.12069
• % chg. over the last day: -0.09
• Day’s range: 1.12019 – 1.12106
• 52 wk range: 1.1111 – 1.2009

EUR/USD continues to consolidate. There is no defined trend. Local levels of support and resistance are: 1.11950 and 1.12300. At the moment, participants in financial markets have taken a wait-and-see attitude before publishing the FOMC Minutes, which may indicate further rates for adjusting the monetary policy of the regulator. We also recommend to pay attention to the speech of the Fed. Positions must be opened from key levels.

At 21:00 (GMT+3:00) the US will publish the FOMC protocols.

Indicators do not give accurate signals: the price is testing 50 MA, which at the moment is a strong dynamic resistance.

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 crossed the% D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.11950, 1.11600
• Resistance levels: 1.12300, 1.12750, 1.13100

If the price consolidates below the local support of 1.11950 the quotes may fall toward 1.11600-1.11400.

Alternatively, the quotes may recover toward 1.12600-1.12800.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.25164
• Open: 1.24577
• % chg. over the last day: -0.44
• Day’s range: 1.24479 – 1.24642
• 52 wk range: 1.2438 – 1.3631

On the GBP / USD currency pair, bearish sentiment still prevails. The trading instrument again updated local minima. At the moment, the key support and resistance levels are: 1.24400 and 1.24900, respectively. The pound remains under pressure due to the uncertainty around Brexit. The main contenders for the post of leader of the Conservative Party have announced that they are ready for the UK to leave the block on a “tough” Brexit basis. Today, investors will be evaluating important economic releases from the UK. We recommend to open positions from key levels.

The Economic News Feed for 10.07.2019:

• – GDP report – 11:30 (GMT+3:00);
• – The volume of production in the UK manufacturing industry – 11:30 (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 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: 1.24400, 1.24000
• Resistance levels: 1.24900, 1.25350, 1.25600

If the price consolidates below 1.24400, the quotes can fall toward 1.24000.

Alternatively, the quotes can correct to 1.25200-1.25400.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.30888
• Open: 1.31232
• % chg. over the last day: +0.26
• Day’s range: 1.31232 – 1.31362
• 52 wk range: 1.2727 – 1.3664

The USD/CAD continues to recover after a prolonged fall. CAD has reached key extremums and .is consolidating in the range of 1.31150-1.31400. The quotes can correct further. Today the focus is on the meeting o the Bank of Canada. It is expected that the regulator will keep the basic parameters of monetary policy at the same level. We recommend to pay attention to the comments and rhetoric of the representatives of the Central Bank. Positions must be opened from key levels.

At 17:00 (GMT+3: 00), the Bank of Canada will announce its decision on a key interest rate.

The price has fixed above 50 MA and 100 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone and continues to rise, indicating bullish sentiments.

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

Trading recommendations

• Support levels: 1.31150, 1.30850, 1.30550
• Resistance levels: 1.31400, 1.32000

If the price consolidates above the level of 1.31400, the quotes can rise to 1.32000.

Alternatively, the quotes can fall toward 1.30900-1.30700.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.720
• Open: 108.856
• % chg. over the last day: +0.20
• Day’s range: 108.829 – 108.991
• 52 wk range: 104.97 – 114.56

On the USD/JPY currency pair the buyers still prevail. At the moment, the trading instrument is consolidating near the round level of 109.000. Local support is at the 108.700 mark. In the near future, technical correction of the USD/JPY quotes is expected. Investors are awaiting the publication of FOMC protocols. We also recommend paying attention to the dynamics of US government bond yields. Positions must be opened from key levels.

The Economic News Feed for 10.07.2019 is calm.

The price has fixed above 50 MA and 100 MA, which indicates the strength of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

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

Trading recommendations

• Support levels: 108.700, 108.500, 108.300
• Resistance levels: 109.000, 109.400, 109.600

If the price consolidates above the round level of 109.000, the quotes can grow to 109.300-109.500.

Alternatively, the quotes can decline to 108.500-108.300.

by JustForex

by JustForex

The US dollar continues to keep positions against a basket of major currencies. Yesterday, the US dollar index (#DX) closed trading session in the positive zone (+0.11%). Investors expect the publication of the FOMC meeting minutes, as well as the speech by Fed Chairman Jerome Powell with a semi-annual monetary report in the House Committee on Financial Services. The official is expected to give insight into how the next Fed meeting will be held and what to expect from it.

White House Economic Advisor, Larry Kudlow, said that US Trade Representative, Robert Lighthizer, and Treasury Secretary, Steven Mnuchin, had “constructive” phone talks with Chinese Vice Premier, Liu He, and Commerce Minister, Zhong Shan, yesterday. Both parties continue to make efforts to resolve the trade conflict. Kudlow said the talks “went well.” It is also reported that the parties plan a personal meeting, but Kudlow believes that there is no easy way to reach a trade deal.

The Bank of Canada meeting will also take place today. It is expected that the regulator will keep the key marks of monetary policy at the same level. We recommend paying attention to the comments by the Central Bank representatives.

The “black gold” prices have been growing. At the moment, futures for the WTI crude oil are testing the mark of $59.00 per barrel. At 17:30 (GMT+3:00) crude oil inventories will be published in the US.

Market Indicators

Yesterday, there was a variety of trends in the US stock markets: #SPY (+0.12%), #DIA (-0.07%), #QQQ (+0.50%).

The 10-year US government bonds yield is growing. Currently, the indicator is at the level of 2.09-2.10%.

– Data on UK GDP at 11:30 (GMT+3:00);
– Manufacturing production in the UK at 11:30 (GMT+3:00);
– The Bank of Canada interest rate decision at 17:00 (GMT+3:00);
– FOMC meeting minutes at 21:00 (GMT+3:00).

by JustForex

By Alpari.com

By Alpari.com

By TheTechnicalTraders.com

Almost counter to current institutional thinking, the strength in the US Dollar will likely continue to push the US stock market higher over the next few weeks/months and act as a supporting price bias in any event of a short term global/us stock market price collapse.  Many traders/investors fail to understand the capacity of the US Dollar to wreak havoc on foreign markets as well as to act as a support level for US equities and US investments.

The support level near $96 is currently acting as a solid price floor.  Our researchers believe an attempt to breach the $99 level will happen soon and this continued strength will put further pressures on foreign currencies, commodities, metals and trade issues.

These shifting dynamics of the currency markets are presenting very clear evidence that investors believe stronger, more mature economies are going to continue to perform over the future months that weaker, more at-risk economies.  The Japanese Yen, Canadian Dollar, Swiss Franc, and US Dollar are all performing quite well in this Year-To-Date comparison graph (below).  The New Zealand Dollar, Euro, British Pound, and Australian Dollar are all dramatically weaker.

Our research team put this comparison chart together to further illustrate the weakness of Asian currencies in relation to the relative strength of the US and major global currencies.  This chart attempt to compare currency strength by grouping relative currency pairs and comparing them as an Asian Currency Group vs a Global Major Currency Group.  As price advances, the Asian Currency Group is relatively stronger overall.  As price declines, the Asian Currency Group is weakening and the Global Major Currency Group is strengthening.

Currently, this chart shows the fragility of the Asian Currency Group.  Any break of the lower price channel level and we enter a new downside price trend that may attempt to establish a much lower price support channel for Asian Currencies, Asian Stock Markets, and the overall global markets.

Our researchers believe the continued strength of the US Dollar and the US stock market are pushing historical normal price ranges beyond expected boundaries.  As gold increases because of fear and greed, countries with larger gold reserves can attempt to offset certain losses from currency and economic weakness.  Yet companies and governments that attempted to leverage the “Dollar Carry Trade” environment from years ago may find themselves in very dangerous territory as Asian currencies continue to weaken.

A stronger US Dollar will attempt to mute the upside price activity of Gold and Silver while pushing these currencies into deeper and deeper valuation declines.  See our recent charts and short term dollar/gold forecast here. A continued shifting of capital away from “at-risk” economies/nations could push these currencies into a death spiral type of free-fall over time.

We believe the US Dollar will continue to move moderately higher over the next 4+ weeks and likely attempt to move towards the $99 price level.  This move will somewhat mute the advance of Gold and Silver, yet we believe the weakness that is likely to unfold in the foreign currency markets will prompt renewed fear and greed – pushing Gold prices much higher – even as the US Dollar continues to strengthen.

Once the XAUUSD level breaks the $1440 level – it should rally up to the $1615 to $1625 level very quickly.  This would likely be the breaking point for the Asian currencies as well.  A move like that would likely push these Asian currencies below historical price envelopes and create a panic-type of a capital shift away from risk.

Our research team believes this move will likely happen sometime between Mid-August and early September 2019.  This means we are only about 35 to 45 days away from an incredibly volatile price swing in the global markets.  This is something that most traders/investors have failed to even begin to comprehend or consider.

What would happen if the Asian capital markets and currencies collapsed on broad weakness and a major credit/debt crisis event?  An event where currencies devalue to a level that suggests forward operations are severely threatened, the rising price of Gold is not offsetting losses and commodity prices collapse pushing even further pressures on commodity/currency backed loans/debt?

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 THIS GOLD BAR AWAY WITH 2-YEAR MEMBERSHIPS
AND 1OZ SILVER ROUND TO 1 YEAR SUBSCRIBERS

So kill two birds with one stone and subscribe for two years to get your
FREE GOLD BAR and enough trades to profit through the next metals
bull market and financial crisis!

SUBSCRIBE -> STACK GOLD BAR -> GET WINNING TRADES

Chris Vermeulen – TheTechnicalTraders.com

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6954; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6960 and then resume moving downwards to reach 0.6835. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the cloud’s upside border and fixes above 0.7015. In this case, the pair may continue growing towards 0.7095. After breaking the support level and fixing below 0.6945, the price may continue moving downwards and complete Head & Shoulders reversal pattern.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6623; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6640 and then resume moving downwards to reach 0.6505. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the cloud’s upside border and fixes above 0.6665. In this case, the pair may continue growing towards 0.6785.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3103; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3115 and then resume moving downwards to reach 1.2900. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the cloud’s upside border and fixes above 1.3145. In this case, the pair may continue growing towards 1.3225. After breaking Triangle’s downside border and fixing below 1.3025, the price may continue moving downwards.

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

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after breaking the rising channel’s downside border, EURUSD is trading sideways at the support level and has already formed several reversal patterns, including Hammer, which indicate a strong reversal signal. The possible upside target may be at 1.1310. However, one shouldn’t exclude a possibility that the price may break the support level and continue falling towards 1.1185.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the descending tendency continues. Earlier, USDJPY formed Harami pattern close to the resistance level. Right now, the pair is starting to reverse. Judging by the previous movements, it may be assumed that the price may trade downwards to reach 107.65. However, we shouldn’t ignore a possibility that the instrument may update its highs and continue its growth to reach 109.15.

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

Everything in the world goes through cycles including investors level of fear, and stock prices. In this report, I want to show you how you can identify short-term and longer-term market tops and bottoms using technical analysis that focuses on the most active time cycles in the stock market today.

Before we get into the details here I would like to touch on two myths that you as a trader need to know in terms of average profit per trade and the number of trades needed to be highly profitable. It’s not what you may think.

Myth #1: You Must Always Be In A Trade and Trading
You don’t need to trade every week, or need to always be in a position. This is a huge misconception and something that most traders struggle with grasping. The reality is, the fewer the trades you make less likely you are to lose money. For example, over the past 17 months, I have placed 53 trades which works out to only 3 trades a month, not many. With those 53 trades, our entire portfolio is up 74.9%. Ya, a whopping 75% with only a few simple trades a month and if you calculate what the average percent return is then you get a taste of trading reality, which brings us to the topic 2.

Myth #2: You Need 8%-25%+ Profit Per Trade to Make Big Profits
Average percent return per trade is another thing most traders have completely backward. If you take 74.9% divided by 53 trades you get 1.41% average return per trade. WOW, that’s low, right? Ya, it seems low, but that’s the reality of trading. The markets wiggle up and down 1-5% regularly and you cant perfectly nail every top or bottom, and sometimes a nice trend trade is completely wiped out in 1-3 days from a flash crash type of sell-off and we have seen a few of those in the past year. What you are left with is the safe middle 1%-3% each trade,  and these trades are the norm. But with that said we still have some 5-10% losing trades, and some 20-45% winners pickled in there which is always exciting.

My point on these two topics is for everyone to stop thinking you always need to be trading and think every trade should make 10-20% profit or it’s not worth your time and money.

I get emails all the time from traders who demand 5+ trades a week, expect big gains on every trade, and they usually have a story to share about how they recently lost a boatload money trading some 3X ETF with nearly their entire portfolio in one position and they need my help for some big trades to make it all back.

Yes, I can help, Yes it’s possible we get a couple of big trades that could do this, it happens, but we don’t know exactly when or which trade it will be. You must put in our time, trade cautiously and the big wins will happen over time.

Traders like this most definitely need some help because if they don’t start trading properly soon enough they will take a big loss, give back months/years of hard work, or blow up their account altogether. Trust me I have been there done that three times when starting out. Losing everything three times is a very sobering experience but sometimes it is the only way to learn if you don’t find the right mentor or trading newsletter to follow. Focus on building your account and wealth over time, not in a few fast-moving stocks/ETF trades.

SP500 DAILY CHART & CYCLE ANALYSIS

This chart is a little cluttered but if you look at the bottom of the chart where my cycle tool is located you will see how different cycles have different strengths and form short term tops and bottoms.

They key focus should be on the three larger RED shaded areas, and the one large GREEN shaded area. Those are what I call Cycle Clusters. When all three cycles are in the overbought or oversold zone we should expect weakness for 3-6 days.

The light blue cycle when trading in the overbought or oversold zone can be used for re-entry or adding to positions in favor of the overall trend (up or down).

By having this technical trading tool we are able to scale in and out of the market for increased profits while reducing our portfolio risk.
This cycle tool is something subscribers to my Wealth Building Newsletter will have access to in the very near future including my complete entry, targets, and stop alerts. By following all the key markets we will have a steady stream of trades each month for increased profits.

DAILY VIX CHART AT SUPPORT & CYCLE CLUSTER

I decided to pull some VIX analysis into this research simply because the VIX recently tagged a critical support level as shown on the chart below, along with a cycle low cluster. Both of these things occurring could mean stocks are set up for a deeper than normal correction in the very near future.

The VIX at times can act as a crystal ball during times of extreme fear or complacency. Currently, complacency is the signal with traders and investors having no fear of falling prices.

The VIX is a contrarian indicator with the old saying “When the VIX is high its time to buy, with the VIX is low its time to go”.

Based on the options market for VIX puts and calls traders are expecting the VIX rise over than a couple of days and even a month from now.

30 MINUTE CHART & CYCLE PREDICTION

If we take the analysis one step further, we can zero in on the 30-minute regular trading hours only chart (9:30 am ET – 4 pm ET) with our blended cycles price bias for a better feeling of where the price is wanting to go over the next 3-6 days.

Based on the SP500 index cycles, coupled with the VIX cycles and test of support the intraday analysis looking forward 3 days looks to be in line with the other trading tools.

FUN FACTS
FIFTEEN 5% WINNERS COMPOUNDED = 107% ROI
$500 PROFIT PER/MONTH = 30% ROI WITH $20K ANNUALLY
POSITION SIZING = TRADING SUCCESS

While there are hundreds technical indicators and thousands of ways to try and read, time, and trade the stock indexes I have developed my own way to spot stock index tops and bottoms using this special cycle tool. I should note that this works exceptionally well with gold, gold miners, silver, and oil.

IN CONCLUSION:

In short, expect stocks to trade sideways or lower this week and for the VIX to work is way higher.

We’ll keep you informed as this plays out with Wealth Building & Global Financial Reset Newsletter if you like what I offer, join me with the 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 Free 1oz Silver Round or Gold Bar Shipped To You!

I can tell you that huge moves are about to start unfolding not only in metals, or stocks but globally and some of these super cycles 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.

IM GIVING THEM AWAY WITH 2-YEAR MEMBERSHIPS

So kill two birds with one stone and subscribe for two years to get your FREE GOLD BAR and enough trades to profit through the next metals bull market and financial crisis!

SUBSCRIBE -> STACK GOLD BAR -> GET WINNING TRADES

Chris Vermeulen – Technical Traders Ltd

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.12221
• Open: 1.12141
• % chg. over the last day: -0.10
• Day’s range: 1.12097 – 1.12188
• 52 wk range: 1.1111 – 1.2009

The EUR/USD has stabilized after a sharp decline since the beginning of this month. The trading instrument is consolidating. Investors expect additional drivers. Local levels of support and resistance are 1.12100 and 1.12400. Demand for USD remains at a fairly high level after the release of optimistic statistics on the US labor market in June. Quoteshave the can decline further. Today we recommend to pay attention to the Fed and open positions must be opened from key levels.

The Economic News Feed for 09.07.2019:

• – Job Openings and Labor Turnover Survey – 17:00 (GMT+3:00).

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

Еhe 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 crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.12100, 1.11600
• Resistance levels: 1.12400, 1.12750, 1.13100

If the price consolidates below the local support of 1.12100, it will drop further to 1.11700-1.11500.

Alternatively, the quotes can recover to 1.12700-1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.25248
• Open: 1.25164
• % chg. over the last day: -0.07
• Day’s range: 1.25023 – 1.25219
• 52 wk range: 1.2438 – 1.3631

The GBP/USD is in lateral movement. The technical picture is ambiguous. Currently, local support and resistance levels are 1.24900 and 1.25350. GBP still remains under pressure amid uncertainty around Brexit. Earlier, Boris Johnson, who is likely to take the post of Prime Minister of Great Britain, said that the country will probably withdraw from the EU without a deal by October 31. Open positions from key levels.

The Economic News Feed for 09.07.2019 is calm.

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 and continues to decline, which gives a strong 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: 1.24900, 1.24500
• Resistance levels: 1.25350, 1.25600, 1.26000

If the price consolidates below 1.24900, the price will fall toward 1.24600-1.24400.

Alternatively, the quotes can correct toward 1.25600-1.25800.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.30660
• Open: 1.30888
• % chg. over the last day: +0.20
• Day’s range: 1.30887 – 1.31103
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has once again shifted to growth. During yesterday’s and today’s trading, the growth exceeded 45 points. The local support and resistance levels are 1.30850 and 1.31150. The trading instrument can correct further. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 09.07.2019:

• – statistics on the real estate market – 15:15 (GMT+3:00) and 15:30 (GMT+3:00).

The price has fixed above 50 MA and 100 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone and continues to rise, indicating bullish sentiment.

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: 1.30850, 1.30550, 1.30400
• Resistance levels: 1.31150, 1.31350, 1.31650

If the price consolidates above the level of 1.31150, expect growth towards to 1.31350-1.31500.

Alternatively, the quotes could fall toward 1.30600-1.30400.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.435
• Open: 108.720
• % chg. over the last day: +0.21
• Day’s range: 108.677 – 108.895
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to show a positive trend. Trading instrument again updated local maxima. At the moment, the USD/JPY quotes are consolidating. The key support and resistance levels are 108.500 and 108.900, respectively. We do not exclude the further growth of the USD/JPY currency pair. We recommend to pay attention to the dynamics of the yield of US government bonds. Positions must be opened from key levels.

The Economic News Feed for 09.07.2019 is calm.

The price has fixed above 50 MA and 100 MA, which indicates the strength of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

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

Trading recommendations

• Support levels: 108.500, 108.300, 108.150
• Resistance levels: 108.900, 109.400, 109.600

If the price consolidates above the level of 108.900, the quotes can grow to 109.300-109.500.

Alternatively, the quotes can descend to 108.300-108.100

by JustForex

By Alpari.com

By Alpari.com