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Thursday, July 7th

EUR/USD

Current price: 1.1080 (-0.2%)
Session range: Open 1.1101; High 1.1108; Low 1.1072
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0997, R. 1.1165
Main drivers: ECB Publishes Account of Monetary Policy Meeting, US ADP Nonfarm Employment Change, US Initial Jobless Claims
Note: The pair has recovered part of its losses caused by strong data of ISM Non-Manufacturing PMI as risk appetite is back in action this morning. Now the pair is wobbling in area near the level of 1.1100 awaiting for US employment report for further momentum.

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Friday, July 8th

UR/USD

Current price: 1,1070 (0,1%)
Session range: Open 1.1063; High 1.1091; Low 1.1056
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1018; R. 1.1131
Main drivers: US Nonfarm Payrolls, US Unemployment Rate
Note: EUR/USD was trading in upward direction this morning largely in response on US dollars corrections before NFP. However, poor German Trade Balance with new wave of post-Brexit concerns suspended single currencies expansion this morning. Today traders will set their focus on NFP that expectedly will show growth in number of employed causing market to experience strong volatility this day looking back to the awful May’s figure.

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Monday, July 11th

EUR/USD

Current price: 1.1047 (0.0%)
Session range: Open 1.1045; High 1.1056; Low 1.1034
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.0937; R. 1.1175
Main drivers: Eurogroup Meetings, Speech of FOMC Member E.George
Note: The pair is trading mostly flat in the first day of this week wobbling near the level of 1.1050. Nothing important is scheduled in data calendar for today therefore the pair will stay under the influence of risk sentiment and the latest Brexit developments.

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Tuesday, July 12th

GBP/USD

Current price: 1.3122 (1%)
Session range: Open 1.2987; High 1.3156; Low 1.2972
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2891, R. 1.3227
Main drivers: Speech of BoE Gov M.Carney, speech of FOMC Member D.Tarullo, speech of FOMC Member J.Bullard, US JOLTs Job Openings, speech of FOMC Member N. Kashkari
Overview: Yesterday the pair experienced high volatility during Asia session on the back of the intensified risk-on sentiment. Now the pair is trying to consolidate its yesterdays gains just above the level of 1.31. Today the pair most likely will keep its bullish mood however the pairs actions will be limited as now all focus shifts on Bank of England Governor M.Carney’s Financial Stability Report that is coming ahead today.


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Wednesday, July 13th

GBP/USD

Current price: 1,3230 (-0,1%)
Session range: Open 1,3245; High 1,3336; Low 1.3220
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2848, R. 1.3496
Main drivers: Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan, US Crude Oil Inventories
Overview: The pair is still keeping its upward momentum, gaining more than 4 cents since lows witnessed near the level of 1.2800. The pair has been supported after BoE M.Carney added optimism in the UK political arena with his Financial Stability Report yesterday. Furthermore, the market also has gained some positive note after Theresa May was appointed as new PM of Britain. However, the traders will keep their focus on the main event of this week – UK’s Interest Rate Decision scheduled for tomorrow.


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Thursday, July 14th


GBP/USD

Current price: 1,3235 (0.7%)
Session range: Open 1.3147 High 1.3275 Low 1.3105
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3001 R. 1.3407
Main drivers: BoE Interest Rate Decision, BoE MPC Meeting Minutes, US PPI.
Overview: The pair has recovered part of its losses on the back of improved risk-on sentiment this day. However, the pound recovery seems to be very fragile, as investors are staying cautious today on the back of upcoming BoE MPC Meeting Minutes. It is the first BoE meeting since “Brexit” vote and market participants are expecting that BoE will decrease its rate for 25 of base points for the first time in seven years.

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#175Forex.ee Analytics, Yesterday at 1:42 PM

 

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Friday, July 15th

GBP/USD

Current price: 1.3406 (0.5%)
Session range: Open 1.3343 High 1.3482 Low 1.3324
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2939 R. 1.3676
Main drivers: Speech of BoE Gov M.Carney, US CPI, US Retail Sales.
Overview: The GBP/USD tested two-week high this morning winged by BoE Interest Rate Decision to leave a rate in flat, thereby squashing markets expectations of a rate cut in July. Also, part of gains of the cable could be related to improved risk appetite fueled by better-then-expected Chinese macro data released this morning.

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Monday, July 18th

EUR/USD

Current price: 1.1057 (0.2%)
Session range: Open 1.1047; High 1.1073; Low 1.1044
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1031 R. 1.1070
Main drivers: None
Overview: The pair is losing its upside momentum consolidating its minor recovery from this day low near 1.1044 area after failed coup attempt in Turkey over the weekend. However, the strong Fridays US data is still weighing the pair limiting its recovery. Due to data light calendar today the pair will follow risk sentiment to gain further direction.


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Tuesday, July 19th

GBP/USD

Current price: 1.3221 (-0.3%)
Session range: Open 1.3255 High 1.3277 Low 1.3171
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3121 R.1.3379
Main drivers: UK CPI, US Building Permits
Overview: The pair has erased part of its yesterdays gains descending back to level 1.3200. At the moment market participants are staying cautious limiting the pairs actions ahead of Britain’s CPI that most likely will show upbeat results against previous May’s figure.

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Wednesday, July 20th

EUR/USD

Current price: 1.1019 (0.0%)
Session range: Open 1.1021 High 1.1024 Low 1.1000
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.0953 R. 1.1114
Main drivers: US Crude Oil Inventories
Overview: Today the pair is running in a flat mode finding strong support at 1.1000 level. Yesterday the pair dropped sharply after downbeat ZEW Economic Sentiments of EU and Germany. Moreover, the pair is experiencing bearish pressure today as US dollar is still keeping its bid tone on the back of yesterdays slightly better US Housing Sales data.


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