FOREX Daily Technical Report and Forecast

Posted: July 23, 2015 in Forex

EUR/USD
EURUSD tried to rally during the course of the session on Wednesday, but struggled at the 1.0980 level again in order to fall. EUR/USDWith that being the case, we found the 1.09 level offer little bit of support. We can say thatĀ  this market is highly volatile and is going to continue to bounce around between the 1.08 level to the bottom, and the 1.10 level on the top. As the market is very volatile we have to sit aside and observe the market to get a good move.
GBP/USD
GBPUSD broke higher during the course of the session on Wednesday, but turned back around to form a shooting star. We feel that this market will probably go lower as there is the data release for Retail sales. Though, 1.55 level is supportive, and it may head to 1.58 level. We will wait for a nice buying opportunity to trade in this market.
AUD/USD
AUDUSD fell during the day on Wednesday, testing the 0.7350 level again. The markets are most certainly negative at the moment, and therefore we look at this market as one that offers plenty of selling opportunities on short-term charts. We do not see much potential for buying in this pair until we get above 0.76 level.
NZD/USD
NZDUSD fell during the day on Wednesday, as we continue to see quite a bit of weakness when it comes to this market. We believe that the market is heading to the 0.65 level. It of course is a large, round, psychologically significant number, so it may take a couple of attempts to finally break down below that level. At the moment we just have to wait for good opportunities to trade in this market.

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