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Daily Technical Report : July 10, 2015

Daily Technical Report : July 10, 2015

USD/JPY

Despite sharp recovery from 120.50 zones, but USDJPY is still capped by moving averages 20 and 50 coverage as seen on the provided daily chart.

USD/JPY Chart

In the interim, RSI14 and ADX didn’t give off any confirmed signs for resuming the current string recovery.

The contrarian between signs on technical indicators and current recovery forces us to remain on the sidelines awaiting more confirmation.

A break back below 121.15-new pivotal support- will bring the bearish picture back into focus.

Support: 121.90-121.40-120.15

Resistance: 122.20-122.45-122.60

Direction: Sideways

GBP/USD

GBPUSD has inclined, trading above SMA20-colored in green- while ADX is turning positive.

GBP/USD

Stability above 78.6% at 1.5345 could bring further upside actions, but clearing 1.5425 is essential to prove the strength of the recovery, as it represents 61.8% level.

Support: 1.5400-1.5345-1.5275

Resistance: 1.5475-1.5500-1.5560

Direction: Up

EUR/USD

EURUSD has inclined again stabilizing above moving averages 20 and 50 and above the main support line that intersects with 38.2% Fibonacci.

EUR/USD

ADX is positive, while RSI 14 is moving higher ad therefore, stability above 1.0950 could bring more upside actions, while moving above 1.1065 is a positive factor for intraday traders.

Support: 1.1100-1.1065-1.1000

Resistance: 1.1180-1.1210-1.1280

USD/CHF

The USDCHF pair has failed at 0.9500 levels where it declined sharply, attacking the key support level of 0.9400 as seen on the provided daily chart.

USD/CHF

Although technical indicators didn’t show any signs of reversal to the downside, but we will depend on the strength of 0.9500 resistance to suggest potential bearish actions today.

Check the recommendation in the subscribers’ area above.

Support: 0.9370-0.9350-0.9310

Resistance: 0.9450-0.9500-0.9520

Direction: Down

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