EURUSD ForecastEURUSD Technical AnalysisForecastsGBPUSD ForecastGBPUSD Technical AnalysisTechnical AnalysisXAUUSD Gold ForecastXAUUSD Gold Technical Analysis

DXY Dollar Index EURUSD GBPUSD Gold Overview

DXY Dollar Index, EURUSD GBPUSD Gold Overview

DXY :

As seen on the H4 chart, DXY made its recovery at MA 200 support – the trend line as well – and succeeded to end the day inside the cloud. Currently, it is pricing at 94.66.   It is just below the EMA 100 and EMA 50 in the H4 chart.  If it breaks above EMA 50 94,78, Tenkan-Sen 94.94 can be tested today.

EURUSD:

Fundamentally:

This Tuesday, July Markit PMI will be released for EU and US. However, the market players will be focused on new developments related to the trade war and Trump’s latest criticism of the Fed’s policies.

Technically:

The pair is pricing at 1.1685 as of writing. We are bearish and will remain bearish below 1.18500.  1.16800 EMA 50 is critical resistance. As seen on the chart, a clear break below 1.16700 will take the price into the lower Bollinger Bands.  In this case, 1.16400, 1.16100 and 1.15800 will be the targets of the pair ( DXY above 94.80)

1.17500 is a strong intraday resistance. Only a break and close above 1.17500 may open the doors to 1.18500. Sublevel to watch as a resistance is 1.17200.

GBPUSD

Fundamentally:

GBPUSD is still under the bearish pressure of Brexit related development. Theresa May said that the government is stepping up preparations for a no-deal Brexit, although they are also working hard to avoid it.

Technically:

GBPUSD is trading at 1.30960 as of writing. As we wrote yesterday, Cable tested 1.30800 but failed to break below.  More important than 1.30800, 1.30600 is the most critical support. A break below 1.30600 will carry the price toward 1.30000 and 1.29500 again. On the upside, 1.31800 is the major resistance.

XAUUSD GOLD

As we have written yesterday, the bearish Gold move is likely to continue for a while. We have explained the reasons in our previous articles.

Gold tested the 1234 support yesterday and headed south again.

Our next target levels: 1218.73  121484 and 1211.

Conclusion: Do not spend time checking the multiple charts. Open the DXY and watch it. If it breaks above 98.80, you will see EURUSD GBPUSD and GOLD testing the mentioned levels.

 

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

Dollar Index  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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