461
Analyst

Key option levels: July 11 - 17

 

EUR/USD

  • • The near-term resistance levels: 1.1175; 1.1227/58; 1.1293; 1.1340
  • • The next support levels: 1.0952; 1.0889/52; 1.0806; 1.0771
  • • Upward risks range: 1.1175-1.1510
  • • Downside risks range: 1.0952-1.0771

 

EUR/USD keeps the downward tendency. The pair's medium-term image remains moderately negative (with the sellers’ main target at 1.0852). Breaking the 1.0952 level down will open the way to 1.0889 and 1.0806. The alternative scenario of an increase above 1.1175 may be considered as a signal to buy the pair, with the targets at 1.1227 and 1.1293.

GBP/USD

  • • The near-term resistance levels: 1.3154; 1.3233; 1.3338; 1.3447
  • • The next support levels: 1.2755; 1.2703; 1.2665/22; 1.2559
  • • Upward risks range: 1.3154-1.3447
  • • Downside risks range: 1.2755-1.2315

 

GBP/USD remains being under pressure this week. Mid-term risks are still inclined to further decrease. It’s important to note that regardless intensive cable downward movement, bulls are still expected to gain positions later. Breakthrough lower than 1.2755 (important point for mid-term risks) premises decrease to 1.2703 and 1.2665. Buying becomes relevant when price reaches 1.3154, targets – 1.3233 and 1.3338.

USD/JPY

  • • The near-term resistance levels: 102.88; 103.24(63?); 104.49; 104.96
  • • The next support levels: 99.02; 98.52; 97.92; 97.24
  • • Upward risks range: 102.88-104.96
  • • Downside risks range: 99.02-96.11

 

USD/JPY can evolve an ascending correction. The mid-term trend is neutral (with up bias). Buyers positions look rather strong in order to start an upward pressure. Moving above level 102.88 will give access to 103.24 and 104.49. Alternative scenario: moving below 99.02 could be considered as a signal to sale the currency pair, with target points – 98.52 and 97.92.

USD/CAD

  • • The near-term resistance levels: 1.3139; 1.3194; 1.3249; 1.3310
  • • The next support levels: 1.2925; 1.2834; 1.2776; 1.2711
  • • Upward risks range: 1.3139-1.3380
  • • Downside risks range: 1.2925-1.2642

 

USD / CAD remains the growth potential. In the medium term, the bulls keep leading. Market makers set the strongest Call-level 1.4186, mainly in order to limit the prices downward movement. Breaking the 1.3139 level up will open the way to 1.3194 and 1.3249. The sellers will be active below 1.2925, with the targets connected with 1.2834 and 1.2776.

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