Free Forex Signals for 07.21.2015
EURUSD, Daily
EURUSD price, now having cleared the 1.0840’s, is currently testing the May 27th lows as price action managed to dip briefly to 1.0811 earlier today in what looked like limit orders being filled. However, buyers soon emerged to pushed price back above the 1.0820 key support area. Traders should expect price to re-test the 1.0820 area several times as buyers seem to be re-emerging around that zone. If price can manage to close the day above the 1.0820’s this will further support the view of an initial bounce towards the 1.0970’s – 1.1030’s as discussed in my previous reports. Short term EURUSD traders should remain on alert for session closing prices above the key 1.0820’s support area that may open the way for an initial bounce towards the 1.0970’s -1.1030’s; however, if we see a session close below 1.0820’s that will favor fresh weakness towards the 1.0750’s.
Now that the Greek bailout deal has been put to the side for the moment, the markets can get back to focusing on important fundamental market moving data. The PMI number should dominate the remainder of the week with the Eurozone PMI numbers out on Friday.
The U.S. Fed’s Bullard said “the probability of a September rate liftoff is above 50%”, he also said that Greek uncertainties appear to be behind us, and that China’s stock market volatility is not large enough to impact U.S. monetary policy.
Currency Pairs, Grouped Performance (% change)
The new Currency Movers Charts show the percentage change from previous day’s close to the current moment against the other major currencies.
This morning EUR is trading higher against the USD, GBP and the JPY. The NZD is stronger across the board against most pairs.
Significant daily support and resistance levels for these pairs are:
Main Macro Events Today
• AUD Monetary Policy Meeting Minutes: Consumption growth had been little changed for most trading partners in recent months, although it was perhaps a bit stronger in the United States and somewhat weaker in China.
• GBP Public Sector Net Borrowing: The forecast for June is for -8.0B down from 9.4B
Janne Muta
Chief Market Analyst
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About Janne Muta, HotForex’s Chief Market Analyst
Janne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.
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