FxGrow Daily Technical Analysis – 29th July, 2016
By FxGrow Research & Analysis Team
EURUSD continued to trade in a narrow range yesterday above 1.1070 handle towards the end of the trading session. Euro is moving in a consolidation phase towards the 1.1100 levels. EURUSD is now trading below its 100day SMA of 1.1024 in the European trading session. The near term bias is Bullish with targets of 1.1150
RSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a BUY; STOCH (9, 6) is Neutral; STOCHRSI (14), CCI (14) are Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 1.1057 while Resistance is at 1.1098 and 1.1119
29th July 2016 – 08:14AM (UTC)
GBPUSD was indecisive yesterday as it touched a high of 1.3245 and a low of 1.3116 towards the end of the trading session. Cable is moving in a zigzag pattern today and the intraday bias is neutral with some bullish correction expected in the US trading session. GBPUSD is now trading above its 100day SMA of 1.3146 in the European trading session. The near term bias is Neutral to Bullish with targets of 1.3250
RSI (14), MACD (12, 26), ADX (14), CCI (14), ROC, MA100 indicate a BUY; STOCH (9, 6), STOCHRSI (14) are Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 1.3119 while Resistance is at 1.3217 and 1.3248
29th July 2016 – 08:21AM (UTC)
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