371
Analyst

Key option levels: July 4 - 10

 

EUR/USD

• The closest levels of resistance: 1.1238 (42?); 1.1280; 1.1358; 1.1410
• The closest levels of support: 1.1067/34; 1.0988; 1.0943; 1.0896
• The range of upward risks: 1.1238-1.1506
• The range of downside risks: 1.1067-1.0896

 

Last week EUR/USD was successfully corrected, however bearish pressure can be resumed. In the medium-term period bears will keep the main initiative. Breakdown below 1.1067 level will give access to 1.0988 and 1.0943. Alternative scenario: moving above 1.1238 could be considered as a signal to buy this currency pair, with target points at 1.1280 and 1.1358.

GBP/USD

• The closest levels of resistance: 1.3373; 1.3479; 1.3542; 1.3625
• The closest levels of support: 1.3251; 1.3178; 1.3120; 1.3049
• The range of upward risks: 1.3373-1.4006
• The range of downside risks: 1.3288-1.2969

 

GBP/USD remains under sellers control. Medium-term risks are still displaced towards decrease. Breakdown below 1.3251 level will predetermine the recession to  1.3178 and 1.3120 marks. The currency pair buying should be considered relevant above 1.3373, with target levels 1.3479 and 1.3542.

USD/CAD

• The closest levels of resistance: 1.3024; 1.3091; 1.3163; 1.3247
• The closest levels of support: 1.2842; 1.2791; 1.2726; 1.2653
• The range of upward risks: 1.3024-1.3247
• The range of downside risks: 1.2842-1.2653

 

This week USD/CAD can resume its growth. The medium-term picture of the currency pair has bullish nature. Moving above level 1.3024 will give access to 1.3091 and 1.3163. Alternative scenario: moving below 1.2842 could be considered as a signal to sell the currency pair, with target points – 1.2791 (an important mark from the risks direction point of view) and 1.2726.

Scroll to top