{"id":109593,"date":"2017-07-25T02:58:41","date_gmt":"2017-07-25T06:58:41","guid":{"rendered":"http:\/\/countingpips.com\/?p=109593"},"modified":"2017-07-25T02:58:41","modified_gmt":"2017-07-25T06:58:41","slug":"daily-market-report-eurusd-resumes-the-upside-journey-july-25-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/daily-market-report-eurusd-resumes-the-upside-journey-july-25-2017\/","title":{"rendered":"Daily Market Report \u2013 EUR\/USD resumes the upside journey July 25, 2017"},"content":{"rendered":"
July 25, 2017<\/div>
\r\n<\/div><\/div>

By<\/b> Mexgroup.com<\/a><\/p>\n

EUR\/USD targeting the 1.1700 level<\/strong><\/p>\n

Price increased in the morning and looks motivated to approach and reach new highs in the upcoming days. USD drops further versus all its rivals ahead the US data, another disappointment in the afternoon will send the EUR\/USD much above the 1.1683 previous high.<\/p>\n

USDX is trading in the red and is very close to hit the 0.9383 yesterday’s low, a further drop is favored because is under massive selling pressure on the Daily chart. The index should drop further because we don’t have any reversal sign at this moment, will increase a little in the afternoon only if the United States data will impress.<\/p>\n

The main event will be the release of the CB Consumer Confidence, which could drop from 118.9 to 116.5 points.<\/p>\n

\"25EURUSD\"<\/a><\/p>\n

Price increased a little\u00a0 and tries to approach the 1.1700 psychological level, but he needs to take out the minor resistance from 1.1683. Resistance can be found at the seventh warning line (WL7) of the former descending pitchfork, while the major static resistance is at the 1.1712 level. Is strongly bullish after the impressive breakout above the WL6 \u00a0and could be attracted also by the upper median line (uml) of the ascending pitchfork.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

USD\/JPY on the way down<\/strong><\/p>\n

Price is trading in the red on the short term and is expected to drop much below the 110.00 psychological level if will have enough direction energy to take out the support from 110.61 previous low.<\/p>\n

\"25USDJPY\"<\/a><\/p>\n

Should extend the sell-off after the failure to reach and retest the 38.2% retracement level and the broken downtrend line. Is moving sideways on the Daily chart, so is somehow expected to approach the 50% retracement level again, where he could find support again. The Yen dominates the currency market on the short term as the Nikkei failed to stay above the 20058 static resistance.<\/p>\n

\u00a0GOLD facing tough resistance<\/strong><\/p>\n

\"25Gold\"<\/a><\/p>\n

The yellow metal continues to move in range between the 23.6% and the 50% retracement levels, is trading at the half of this sideways movement. Is pressuring the outside sliding parallel line (SL), a valid breakout above this line will confirm a larger increase.<\/p>\n

Technically should climb much higher on the Daily chart after the breakout above the upper median line (UML) of the major descending pitchfork and outside the minor descending pitchfork’s body. We may have a buying opportunity if will stabilize above the SL and if will come down to retest the warning line (WL1).<\/p>\n

By Olimpiu Tuns<\/strong><\/p>\n

Market Analyst<\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading in general is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this web site.<\/span><\/em><\/p>\n

The post Daily Market Report – EUR\/USD resumes the upside journey July 25, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com EUR\/USD targeting the 1.1700 level Price increased in the morning and looks motivated to approach and reach new highs in the upcoming days. USD drops further versus all its rivals ahead the US data, another disappointment in the afternoon will send the EUR\/USD much above the 1.1683 previous high. USDX is trading in […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-109593","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=109593"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109593\/revisions"}],"predecessor-version":[{"id":109594,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109593\/revisions\/109594"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}