Technical analysis EUR/USD, GBP/USD and USD/JPY 15 July 2013


Technical analysisEUR/USD

After testing the support at 1.3000, the price kicked back, and is now trading at around 1.3050/60. The indicators show doubts in the bullish dominance. Technically, the MACD, the R% and flat dynamics of the SS (which is expected to move down) suppose the resumption of the bearish sentiment. Obviously, the pair is expected to test the level of 1.3000 in the near future. Should the pair cross this level, it will fall to the level of 1.2800/10 with a possible breakdown. At the same time, the previous forecast remains relevant: until the pair breaches the support at 1.3000, the bullish trend will be dominant, and the pair may rise to the level of 1.3410/20. EURUSD technical analysis 15.07.13


The expected growth resumption on this pair did not confirm in the trend reversal. The price continued to fall and is now at 1.5050/40. The indicators suppose continued price fall. However, the pair reached a strong support at 1.5040/10, which may stop the decline. Should the pair cross these obstacles on its way down, this will open the way to the recently tested support at 1.4830, and increase the possibility of falling to new local minima. Otherwise, if the pair fails to break these obstacles, the price will consolidate in a range between 1.5220-1.5040/10. Meanwhile, the possibility of continuing the bullish movement dramatically increases.

 GBPUSD technical analysis for 15.07.13


The pair confirmed the growth forecast mentioned in the previous analysis. The price has almost reached the resistance level at 100.00, and is now trading at around 99.80/70. The indicators show a dominant bullish sentiment. This may signal that the resistance at 100.00 will be crossed again and the price will continue to rise to the resistance at 101. 20/10, and then to a local maximum at 103.70/60. The level of 102.40/45 will be a strong obstacle on the way up. If the price fails to break the level of 100.00, this will give reason to expect further price reduction and consolidation in the corridor between 100.00 and 98.20/10.

USDJPY technical analysis for 15.07.13


About Author

Hello, my name is Arkady Nagiev and I’ve been working for Forex4you company since 2008. I received an economic education and worked in various sectors of former Soviet Union. After the dissolution of the USSR, I decided to engage in the banking sector. In 1994 I took "Banking" course in the Moscow International Financial and Banking School. After that, I worked in the banks of Turkmenistan and Ukraine. While working at the bank, I became interested in the foreign exchange market, which required additional knowledge and pushed me to study strategies and techniques for the analysis of foreign exchange instruments. At first, I thought that technical analysis would be enough, but I soon realized that I was wrong, and began to study fundamental analysis. I sincerely hope that my Forex reviews and financial analyses help our clients to gain a better understanding of the forex market. Good luck with your trading everyone!