Adamant Finance
Member
Technical Outlook July 20, 2017
EURUSD
The currency pair was in correction on Wednesday as market participants are waiting for the results of the European Central Bank meeting, which is to take place today. Previous EUR/USD’s growth was due to the expectations that the ECB is going to announce stimulus tightening. We think that it is better to do nothing before the end of the ECB’s meeting.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was trading according to our expectations last week. We think that EUR/USD is likely to develop its upside dynamics in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today before the release of the results of the European Central Bank’s meeting.
GBPUSD
The currency pair was trading in a tight range on Wednesday and changed its tendency. There is important UK Retail Sales data on the way, which may have impact on GBP/USD for today. Bloomberg experts expect huge Retail Sales growth and if those forecasts fail to meet investors expectations, the currency pair is likely to develop its decline in the nearest future.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some expected growth last week. We think that GBP/USD is likely to develop its upside tendency in the next couple of days.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator or above 1,30600.
AUDUSD
The currency pair continued its upside tendency but the trend loses strength and we think AUD/USD is likely to reverse its tendency in the nearest future. However, the currency pair is still able to reach 0,80000. AUD/USD reached new weekly lows after today’s Australian Labor Market data and reached 0,79865. We think that this level will be the highest for this week.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some growth last week according to our expectations. We think that AUD/USD is likely to develop its growth in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.
USDCHF
The currency pair was trading in a tight range yesterday. There was no opportunity to open short trades according to our recommendations. The price failed to reach the entry point. We think that it is a good idea to look for short trades today, but the risks are high as there is a reverse pattern. However, we think it is better to try to sell according to the current tendency.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range according to our expectations. We think that USD/CHF is likely to develop its decline in the next couple of days.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator. The trade is of high risks.
Gold and Silver Technical Outlook July 20, 2017
GOLD (XAUUSD)
Gold moved higher from the MA55 balance line according to our expectations. There was a chance to buy from there. The eventual profit was about 7500 pips and you had an opportunity to take profit. We think that XAU/USD is likely to reverse its tendency if there is nothing unexpected.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Gold had a significant growth last week because of worse than expected US inflation data. We think that XAU/USD is likely to develop its moderate upside dynamics in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
SILVER (XAGUSD)
Silver offered opportunities to open long trades according to our recommendations from the MA55 balance line and there was a chance to take about 15 pips. It was enough as protect trades or to fix them. We can see that the upside tendency is going to slow down and the price is building a reverse pattern.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver was trading with some growth last week according to our expectations. We think that XAG/USD is likely to develop its upside dynamics in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
EURUSD
You must be registered for see images
The currency pair was in correction on Wednesday as market participants are waiting for the results of the European Central Bank meeting, which is to take place today. Previous EUR/USD’s growth was due to the expectations that the ECB is going to announce stimulus tightening. We think that it is better to do nothing before the end of the ECB’s meeting.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was trading according to our expectations last week. We think that EUR/USD is likely to develop its upside dynamics in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today before the release of the results of the European Central Bank’s meeting.
GBPUSD
You must be registered for see images
The currency pair was trading in a tight range on Wednesday and changed its tendency. There is important UK Retail Sales data on the way, which may have impact on GBP/USD for today. Bloomberg experts expect huge Retail Sales growth and if those forecasts fail to meet investors expectations, the currency pair is likely to develop its decline in the nearest future.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some expected growth last week. We think that GBP/USD is likely to develop its upside tendency in the next couple of days.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator or above 1,30600.
AUDUSD
You must be registered for see images
The currency pair continued its upside tendency but the trend loses strength and we think AUD/USD is likely to reverse its tendency in the nearest future. However, the currency pair is still able to reach 0,80000. AUD/USD reached new weekly lows after today’s Australian Labor Market data and reached 0,79865. We think that this level will be the highest for this week.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some growth last week according to our expectations. We think that AUD/USD is likely to develop its growth in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.
USDCHF
You must be registered for see images
The currency pair was trading in a tight range yesterday. There was no opportunity to open short trades according to our recommendations. The price failed to reach the entry point. We think that it is a good idea to look for short trades today, but the risks are high as there is a reverse pattern. However, we think it is better to try to sell according to the current tendency.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range according to our expectations. We think that USD/CHF is likely to develop its decline in the next couple of days.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator. The trade is of high risks.
Gold and Silver Technical Outlook July 20, 2017
GOLD (XAUUSD)
You must be registered for see images
Gold moved higher from the MA55 balance line according to our expectations. There was a chance to buy from there. The eventual profit was about 7500 pips and you had an opportunity to take profit. We think that XAU/USD is likely to reverse its tendency if there is nothing unexpected.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Gold had a significant growth last week because of worse than expected US inflation data. We think that XAU/USD is likely to develop its moderate upside dynamics in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
SILVER (XAGUSD)
You must be registered for see images
Silver offered opportunities to open long trades according to our recommendations from the MA55 balance line and there was a chance to take about 15 pips. It was enough as protect trades or to fix them. We can see that the upside tendency is going to slow down and the price is building a reverse pattern.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver was trading with some growth last week according to our expectations. We think that XAG/USD is likely to develop its upside dynamics in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.