Daily Technical Analysis Forex/DJIA/Gold

Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: A small 'hammer' candle yesterday ahead of a rising and increasingly large Ichimoku 'cloud' demonstrate the underlying bullish tone. Until we get a weekly close above 1.4200 we shall have to allow for yet more random consolidation within the recent range. Strategy: Attempt longs at 1.3955; stop below 1.3800. Short term target 1.4100, then 1.4200.Direction of Trade: → Chart Levels:
Support Resistance
1.3950 " 1.4
1.3927 1.4045
1.3876 1.41
1.3825 1.4178/1.4202*
1.3800* 1.423
GBPUSD
Comment: Yesterday's 'hammer' candle whose low was at the middle of the recent trading range underlines the long term bullish trend to this currency pair. Moving averages are still bullish, supported by an increasingly large, upward-sloping Ichimoku 'cloud'. A weekly close clearly above 1.6500 should add to current strong bullish momentum, hopefully with a whole host of currencies pulling in the same direction. Strategy: Attempt small longs at 1.6225; stop below 1.6075. First target 1.6500, then 1.6600. Direction of Trade: → Chart Levels:
Support Resistance
1.6216 " 1.63
1.6187 1.635
1.6125 1.6435
1.6095* 1.66
1.5985 1.6745*
USDJPY
Comment: Pity it didn't close below 95.00 yesterday as this would have seen bearish pressure increase. Expect more consolidation neatly below the lower edge of the Ichimoku 'cloud' and the moving averages today, above trendline support. Hopefully some time this week we will see a re-test of the increasingly important 94.00 area.
Strategy: Attempt shorts at 95.35, adding to 96.00; stop well above 96.25. First target 94.66/94.44, then lower still. Direction of Trade: →Chart Levels:
Support Resistance
95.11 " 95.46
95 95.8
94.88 96.25*
94.66 96.6
94.44 94.00 97.25*
Daily Forex Technicals | Written by India Forex | Jul 07 09 06:20 GMT |
Rupee: Rupee stayed weak as expected post budget and crossed our target of 48.35. We maintain bearishness and a break of 48.53 again would push rupee weaker. Bearish.(USD/INR : 48.38)
Gold: Gold was unable to hold above $930 . Still holding bearishness targeting $900 (Gold- $924.18). Rangebound to Bearish.
Dollar Index: Dollar index extends the rebound from 79.56 and is set to take on 80.94. We're anticipating a break of 80.94 resistance to signal resumption of rise from 78.33, to be confirmed by break of 81.36/47 resistance zone. Further rally should be seen to next key resistance at 82.62 (38.2% retracement of 89.62 to 78.93 at 82.64). in such case. (DI- 80.70) Bullish
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 8280.23 and 8247.22(main), where a delay and correction may happen. Break of the latter will give 8224.00, where correction also can be. Then follows 8185.78. Be there a strong impulse, we would see 8148.62. Continuation will bring 8118.50 and 8100.00. Today's resistance: - 8376.18, 8417.22 and 8462.80(main), where a delay and correction may happen. Break would bring 8503.10, where a correction may happen. Then follows 8538.70, where a delay and correction could also be. Be there a strong impulse, we'd see 8551.50. Continuation would bring 8562.26.