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Thursday, July 21st

GBP/USD

Current price: 1.3245 (0.3%)
Session range: Open 1.3208; High 1.3276; Low 1.3203
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3003 R. 1.3329
Main drivers: UK Retail Sales, Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Broad based US dollars’ weakness coupled with upbeat data from UK’s labor market has allowed pound bulls to take control over the pair and break through the level of 1.3200. Today the pair is consolidating part of its gains hovering in the region 1.3020-40 awaiting for fresh impute from the upcoming UK retail sales data for further direction. Furthermore, EU Interest Rate Decision also will be closely watched, as it is the main risk event of this week.

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Friday, July 22nd

GBP/USD

Current price: 1.3268 (0.3%)
Session range: Open 1.3233 High 1.3289 Low 1.3210
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3102 R. 1.3342
Main drivers: Prelim. UK Manufacturing PMI, Prelim. UK Services PMI, Prelim. US Manufacturing PMI
Overview: The pound is trading with slightly better mood vs. dollar this morning keeping its spot above the level of 1.32 on the back of broadly based dollars’ weakness. However, poor UK’s Retail Sales are still limiting the pairs’ upside momentum.

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Monday, July 25th

GBP/USD

Current price: 1.3146 (0.0%)
Session range: Open 1.3143 High 1.3150 Low 1.3110
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2947 R.1.3369
Main drivers: CBI Industrial Trends Orders in UK
Overview: The pair is recovering from two-cent dip after Friday’s pullback to 1.3080 low triggered by last week poor figure from UK’s Services PMI coupled with strengthened dollar across the board. However, dollar seems to be weaker today as investors are performing corrective actions allowing pound to take advantage at the beginning of this week.

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Tuesday, July 26th

EUR/USD

Current price: 1.1002 (0.01%)
Session range: Open 1.0995 High 1.1021 Low 1.0982
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0934 R.1.1028
Main drivers: US CB Consumer Confidence, US New Home Sales
Overview: EUR/USD is trading higher today as dollar’s weakness across the board has opened the doors to shared currency’s bulls to take key resistance level of 1.1000. However, the pair will remain under pressure today as euro continues to be weighted by sharp fall in cross with yen.


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Wednesday, July 27th

USD/JPY

Current price: 105.66 (1.0%)
Session range: Open 104.65 High 106.56 Low 104.59
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 102.92 R. 106.72
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: USD/JPY is experiencing high volatility this morning after Prime Minister of Japan S.Abe has confirmed the size of the stimulus package at 28 trillion yen. However, the final decision of the size of the stimulus package will be taken next week. Most likely, today the pair will stay in condition of high volatility amid ongoing headlines from Japanese market.



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Thursday, July 28th

USD/JPY

Current price: 104.56 (-0.8%)
Session range: Open 105.39 High 105.45 Low 104.48
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 103.59 R. 107.43
Main drivers: US Initial Jobless Claims
Overview: The pair came over significant selling pressure yesterday after FOMC statement, where Fed members provided more dovish comments sending the pair to this day lows near 105 level. Moreover, fresh risk aversion wave additionally has pressured the yen this morning. In absence of significant catalysts, traders will closely watch for developments around latest Japanese stimulus talks.

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Monday, August 8th

GBP/USD

Current price: 1.3055 (-0.1%)
Session range: Open 1.3080 High 1.3097 Low 1.3045
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3047 R. 1.3096
Main drivers: None
Overview: Pound is regaining part of its positions from Friday’s low last seen four weeks ago after unexpectedly strong US NFP. However, the GBP/USD pair is still experiencing strong bearish pressure following the recent BoE’s policy easing measures of lowering its interest rate to 0.25%.


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Tuesday, August 9th

GBP/USD

Current price: 1.2981 (-0.5%)
Session range: Open 1.3040 High 1.3050 Low 1.2967
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2945 R. 1.3122
Main drivers: UK Manufacturing Production, Prelim. US Nonfarm Productivity
Overview: Currently is attempting to recover part of its losses after downside rally to fresh monthly lows performed this morning. The pair has dipped today to the level of 1.2973 triggered by suggestion of BoE’s member of further rate cut closer to zero.

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Wednesday, August 10th


USD/CAD

Current price: 1.3070 (-0.4%)
Session range: Open 1.3119 High 1.3126 Low 1.3051
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3057 R. 1.3219
Main drivers: OPEC Monthly Report, JOLTs Job Openings, US Crude Oil Inventories
Overview: The pair is expanding its lows for the third day majorly driven by oil price recovery that supports commodity linked Canadian dollar. Today market participants will closely watch for OPEC Monthly Report expecting to find there any cues of further oil output freeze. However, the main event for the pair remains US Crude Oil Inventories.


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Thursday, August 11th

NZD/USD

Current price: 0.7242 (0.6%)
Session range: Open 0.7203 High 0.7342 Low 0.7198
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7103 R. 0.7315
Main drivers: USInitial Jobless Claims, US Export/Import Price Indices
Overview: The pair has performed sharp upsurge this morning reacting on RBNZ decision of “hawkish” rate cut by 25 bps leading the pair to the highest point since May of 2015 marked at 0.7337 level. As rate cut was pretty much expected market has shown more positive reaction as RBNZ decision missed market’s cut expectations of 50 bps. However, after sharp rally of 250 points the pair has taken south direction on the back of dovish comments provided by RBNZ members about low inflation leaving doors opened for further policy easing.

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