FxGrow Daily Technical Analysis – 21st July, 2016
By FxGrow Research & Analysis Team
EURUSD was mild bullish yesterday and today it is continuing in the same uptrend. A bullish breakout above 1.1100 is expected in the US trading session. EURUSD is trading just below its 100 day SMA of 1.1047 and the near term bias is Neutral to Bullish with targets of 1.1080 to 1.1100
STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; RSI (14) is Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 1.1009 while Resistance is at 1.1041 and 1.1057
21st July 2016 – 08:42AM (UTC)
GBPUSD was bullish yesterday and today it continues its bullish trend crossing 1.3250 today. Now the pair has started to decline and inverted head and shoulders pattern is seen. A short term Bullish correction above 1.3400 is expected before the weekly closing. GBPUSD is trading below its 100day SMA of 1.3209 in the European trading session. The near term bias is Neutral to Bullish with targets of 1.3250 to 1.3300
STOCH (9, 6), MACD (12, 26), ADX (14), ROC indicate a BUY; RSI (14) is Neutral; while Average True Range (14) indicates High Volatility.
Support is at 1.3119 while Resistance is at 1.3274 and 1.3283
21st July 2016 – 08:55AM (UTC)
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