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CURRENCIES TECHNICAL ANALYSIS July.10

Euro

The EUR/USD pair still holds a bullish tone. The spot found a good support at 1.1400 and spent the first part of the day around the mark. Sellers regained control in the mid-European session and pushed the pair lower. The resistance is at 1.1400, the support comes in at 1.1350.

We are still bullish awaiting for another leg higher towards 1.1450.

 

Pound

After a sharp drop on Friday the pound quotes recovered some losses during the night trades. The spot reached 1.2900 which did not let it further. The pair bounced off the level heading to the fresh lows. The resistance lies at 1.2900, the support comes in at 1.2800.

The pair has the potential to post more losses now. The first sellers' target is 1.2840. The second one is at 1.2800.

 

USD/JPY

USD/JPY is still in an upward channel. Buyers managed to break 114.00 in the night. After breaking the level the pair slightly moved back. The resistance lies at 115.00, the support comes in at 114.00.

A pullback or consolidation is expected in the market in the near term. The price may decline to 113.50. However, it is "a buy only" market now. We expect the pair continue its growth soon.

 

XAU/USD

The bearish scenario prevails on Monday. Sellers broke 1210 in the late Asian session and kept pushing gold prices lower after that. The spot reached 1204 by noon. The resistance exists at 1210, the support stands at 1200 dollars per ounce.

The break below 1210 opened the way to the round level 1200 dollars per ounce.

Brent

Brent started the day above 46.50. The benchmark spent the night around the mark and moved downwards in the morning. Sellers drove oil quotes to 46.50 by noon. Oil prices continued declining after that and reached 46.00 ahead of the NY opening. The resistance lies at 46.50, the support lies in at 45.50 dollars per barrel.

A close below 46.50 will trigger losses towards 45.50 dollars per barrel.

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