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The pair Euro/Dollar by the end of the trading week showed a high volatility of 80 pips, as a result, we saw impulse turn. From the point of view of technical analysis, we see that the deceleration (3-4 July) within 1,1300 was followed by the accumulation with the subsequent leap to the 1.1200 level. Examining a trading graph in General, we see that in global terms the main downtrend remains not a low quote is committed to recovery, but to the point the main bearing more than 100 points.
Information and news had a report of the Ministry of labour of the United States, where the data were published Nonfarm payrolls for June, and they were significantly better than the may report. According to new data, change in the number of people employed in non-agricultural sector for June is an increase from 72K to 224K. Against the background of such positive statistics, the dollar started to grow on all fronts and the recent stagnation, in particular for the EURUSD, well played in the form of acceleration.
Today's economic calendar, we do not have any statistical data on Europe and the United States. Traders, in turn, in anticipation of the forthcoming publication of the FOMC minutes and a speech by fed's Jerome Powell in Congress.
the Future development
by Analyzing the current trading graph, we can see that after the pulse jumps to a value 1,1207 there was a slight rollback 20 points, followed by stagnation. Likely to assume that the turbulence within the current values will remain where traders are rather interesting point of placing the trade orders. The first thing I would like to draw attention to, is the main downtrend and aspiration quotes to recovery. For this reason, traders still consider the downward position and consider them lower than the 1.1200 level, with a view to 1,1180 – lows of 1.1125. In turn, traders do not rule out a possible correction, but will she now, in the case of fixing prices higher than 1,1240, not a fact, as there is an assumption about the point of the temporary support at 1,1180.
On the basis of available information it is possible to expand the number of variations, let's clarify:
- buy Position is considered in two cases: first in case of fixing is higher than 1,1240; second, in the case of slowing down and practicing from the value 1,1180.
- Positions considered in the case of fixing prices lower than the 1.1200 level, with the prospect of stroke 1,1180 – lows of 1.1125 method steps.
Analyzing different sector timeframe (TF), we see that the indicators in the short, intraday and medium term downtrend retains an interest in the background of the inertial speed.
the Volatility for the week / Measurement of volatility: Month; Quarter; Year
the Measurement of volatility reflects the average daily oscillation, with the payment for Month / Quarter / Year.
( July 8, was tailored to the time of article publication)
the volatility of the current time is 21 points. In case of preservation of the inertial speed volatilnosti can grow.
the Key levels
the resistance Area: 1,1300**; 1,1450; 1,1550; 1,1650*; 1,1720**; 1,1850**; 1,2100..
the support Zone: 1,1180* ; 1,1112; 1,1080* ; 1,1000***; 1,0850**.
* Periodic level
** Band level
**** the Article is based on the principle of dealing with daily adjustment
the Material has been provided by InstaForex company - www.instaforex.com
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