Jul 28 2020 0
Here are the chart analysis of the market's most traded currency pairs for today, July 28th. But first, take a look at some of the latest updates:
- Gold prices hit an all-time high, as concerns about the health of the US economy and rising signs of the second wave of Coronavirus around the world have strengthened the demand for sheltered assets.
- Data from other parts of the world continue to show moderate recovery. Specifically.
- Germany's Ifo business confidence index increased a bit more than expected, emphasizing the positive PMI data of the common currency last week.
- Profit for China's industrial group rose 11.5% in June, although it still fell 12% compared to the beginning of the year.
- The Senate Republican Party on Monday proposed a new $ 1 trillion package of aid, paving the way for talks with Democrats to maintain the unemployment benefit program, which will expire at the end. this July.
- New U.S. durable goods data showed lower than expected growth.
Price is still moving down the support levels as expected. The level 105 has also been approached and there are many candlesticks underneath, indicating a decline in price. You may consider escaping a short command. The next target is zone 104.5. If the price adjusts to 106, you may consider adding a sell position because the price is quite good.
Price is approaching the target area at the upper border of the rising channel, zone 1.18. A bearish signal has also appeared on the H4 chart. You consider escaping long commands. Because the current rally is very hot and the market is in a state of overbought, the correction may be deep. Do not rush to buy again when the prices have no clear signs.
The target price zone of 1.29 has been approached. A bearish signal has also appeared on the H4 chart. You should consider escaping our long commands. If a correction occurs, expect the price to retest the zone of 1.277. However, you need to carefully analyze the signals before returning to buy orders.
The price is still moving in favor of the remaining short orders so we will continue to maintain these orders. Wait for the signal to break the current bottom and add position. The next target is zone 1.32.
Price is following the scenario of breaking above the resistance zone, so we continue to wait and watch. When the 0.718 zone is completely broken, consider buying. The target will be the 0.730 zone.