Amega daily market overview & news alerts

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EURUSD 12.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.18263-1.18175 and it has a potential to reach the target zone №2 1.17383-1.17285. The best prices to try to have a short position are the control resistance zone 1.18782-1.18694. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.



Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.18782-1.18694 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

GOLD overview 12.07.2021

Gold dips on stronger dollar.

Gold under the bearish pressure today as a stronger dollar made gold more expensive for holders of other currencies and investors awaited U.S. inflation data and Federal Reserve Chairman Jerome Powell’s testimony this week. Gold market lost momentum after the U.S. Federal Reserve adopted a more hawkish stance, raising prospects for a rise in interest rates as early as 2023, and a tapering of its monetary stimulus. Gold traders will focus on a U.S. consumer price index report on Tuesday, and Powell’s testimony before Congress on Wednesday and Thursday for cues on the timeline for policy tightening. Short-term downward pressure on gold will be limited by an upsurge in new infections caused by the Delta coronavirus variant.

Next support to watch – 1795.00

 

[Amega]

USDCAD 13.07.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1.26089-1.25914 and it is going to the target zone №2 1.27862-1.27682. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.24180-1.24011. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.



Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 1.24180-1.24011 (190 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

Watch out for the upcoming New Zealand Interest Rate Decision announcement and how could it affect NZDUSD pair.

 

[Amega]

Watch out for the upcoming Bank of Canada Interest Rate Decision announcement and its impact on USDCAD & other CAD pairs.

 

[Amega]

NZDUSD 14.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.69150-0.69055 and it has a potential to reach the target zone №2 0.68200-0.68105. The best prices to try to have a short position are the control resistance zone 0.70216-0.70121. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.



Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 0.70216-0.70121 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

GOLD overview 14.07.2021

Gold rises on inflation fears.

Gold under the bullish pressure today after strong U.S. inflation numbers increased the Gold appeal as an inflation hedge. The gains are still kept in check ahead of Federal Reserve Chair Jerome Powell’s testimony as early tapering bets rise. The biggest rise in U.S. consumer prices in 13 years has intensified investor focus on messaging from the Fed. On the one hand, gold is getting bought by inflation hedge, but on the other hand, rising market expectation for a rate hike at the end of next year is offsetting some of the price advances. A fed rate hike would dull bullion’s appeal as that increases the opportunity cost of holding the non-yielding metal.

Next resistance to watch – 1845.0

 

[Amega]

EURUSD 15.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.18263-1.18175 and it has a potential to reach the target zone №2 1.17383-1.17285. The best prices to try to have a short position are the control resistance zone 1.18687-1.18599. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.



Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.18687-1.18599 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

Will Retail sales boost US Dollar? Follow up on the upcoming announcement.

 

[Amega]

BRENT overview 15.07.2021

Oil falls on expected supply increase.

Oil prices continuing to fall today, extending yesterday’s sharp losses as investors prepared for increased supplies after a compromise deal between leading OPEC producers. WTI and Brent fell more than 2% yesterday after it was reported that Saudi Arabia and the United Arab Emirates have reached a compromise that should open the way for a deal to supply more crude to a tight oil market and cool soaring prices. This has prompted some of the oil traders to take some profits before the deal is concrete. Oil prices also came under bearish pressure from reports showing that China’s economy grew slightly more slowly than expected in the second quarter, weighed down by higher raw material costs and new COVID-19 outbreaks.

Expect sellers on upward corrections.

Next support to watch – 71.80

 

[Amega]

GBPUSD 16.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.37324-1.39025 and it has a potential to reach the target zone №2 1.35604-1.35432. The best prices to try to have a short position are the control resistance zone 1.39197-1.39584. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.39197-1.39584 (190 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

EURUSD overview 16.07.2021

EURUSD dips on stronger dollar.

EURUSD under the bearish pressure today after US Retail Sales beat estimates with 0.6% MoM in June. The Control Group also exceeded estimates with 1.1%. The pair is also driven down by concerns about the pace of the economic recovery in Eurozone after the widespread floods caused immense economic damage to the local communities in Germany and Belgium and also upset the vaccination programmes in the region. The pair is also pressured down by safe-haven inflows into the U.S. dollar on fears about the spread of the Delta variant – with COVID-19 cases on the rise again at the global level and in most of the G7 economies.

Expect sellers on upward corrections.

Next support to watch – 1,1772

 

[Amega]

AUDUSD 19.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.74155-0.74065 and it has a potential to reach the target zone №2 0.73255-0.73165. The best prices to try to have a short position are the control resistance zone 0.74605-0.74525. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.



Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 0.74605-0.74525 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

USDCAD overview 19.07.2021

USDCAD surges on risk-off sentiment.

USDCAD under the immense bullish pressure today made out of the two separate forces – the strong USD inflows and the equally strong CAD outflows. Both of these powerful trade flows are due to the markets switching into the large-scale risk-off mode on the accelerating Delta variant cases worldwide – as WHO has announced the start of the strong new third wave across the globe. Daily infections have been surging from the United States and Europe to Asia and the global seven-day average of new cases each day is over half a million for the first time since May. Traders are holding their breath as England lifts most social restrictions – which should further accelerate the spread of the virus in UK. This is also hurting expectations of oil demand growth – triggering massive CAD selling (Canada being top oil exporter).

Expect buyers on downward corrections.

Next resistance to watch – 1.2870

 

[Amega]

USDCHF 20.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.91594-0.91485 and it has a potential to reach the target zone №2 0.90500-0.90393. The best prices to try to have a short position are the control resistance zone 0.92397-0.92286. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 0.92397-0.92286 (125 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

GBPUSD overview 20.07.2021

Sterling falls on surging virus cases.

Sterling under the bearish pressure today amid widespread sterling pessimism and safe-haven dollar inflows. The demand for safe-haven dollar exploded recently amid a global surge in coronavirus. The global rise in Covid-19 infections sparked concern among investors at the start of the week, forcing a sell-off in stock markets and a bid for bonds and the dollar, which spurred a sharp move lower in growth-correlated currencies such as the pound. The sterling is hammered down on fears that after England lifted all COVID-19 social restrictions on Monday, in what local media dubbed “Freedom Day”, this might further accelerate the surge in infections caused by the highly contagious Delta variant of the virus.

Expect sellers on upward corrections.

Next support to watch – 1.3560

 

[Amega]

USDCAD 21.07.2021

Medium-termtrend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1.27862-1.27682 and it is going to the target zone №2 1.29686-1.29501. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.26289-1.26114. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 1.26289-1.26114 (190 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

Watch out for the upcoming ECB Interest Rate Decision announcement and its impact on EURUSD & other EUR pairs.

 

[Amega]

BRENT overview 21.07.2021

Oil rises on improved risk appetite.

Oil under the bullish pressure today extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories last week and a weaker demand outlook due to rising COVID-19 infections. This reversal comes after the strong falls registered during the last few sessions, which were triggered by worries over the impact the Delta variant and the agreement between OPEC+ countries to increase production. Global risk appetite improved after upbeat quarterly results from companies including Johnson & Johnson and Coca-Cola reignited optimism about the health of corporate America and about the oil demand outlook.

Expect buyers on downward corrections.

Next resistance to watch – 71.5

 

[Amega]

EURUSD 22.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.18263-1.18175 and it has a potential to reach the target zone №2 1.17383-1.17285. The best prices to try to have a short position are the control resistance zone 1.18485-1.18397. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.18485-1.18397 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.