Vea el comentario diario y tome decisiones de trading informadas

Regístrese

US GDP rates eyed

The USD edged higher against its counterparts yesterday, in another sign of Dollar strength. Speculation among market participants for the Fed to break with other central banks by keeping rates high for longer seems to be intensifying supporting the greenback. The rise of the USD was particularly evident against the JPY as it rose to practically new record high levels, risking a possible market intervention by the BoJ to JPY’s rescue. Central bank interest rate differentials tend to weigh on JPY, as BoJ currently still has a loose monetary policy. JPY traders may focus on the release of Tokyo’s CPI Rates for June tomorrow during the Asian session, given that the density of population of the Japanese megacity qualifies the indicator to serve as a prelude for inflationary pressures nationwide. Should the rates accelerate we may see JPY getting some support as it could align with BoJ’s narrative of persistent inflationary pressures in the Japanese economy and support the idea of another rate hike.

USD/JPY rose yesterday breaking for the time being the 160.35 (S1) resistance line, now turned to support. We maintain our bullish outlook for the pair given also that the RSI indicator continues to run along the reading of 70, implying a strong bullish sentiment on behalf of market participants for the pair. At the same time though, the movement of the RSI indicator tends to issue a warning that the pair has reached overbought levels and may be ripe for a correction lower. Similar signals are also being send the fact that the pair’s price action flirts with the upper Bollinger band. Should the bulls maintain control over USD/JPY as expected we may see the pair using the 160.35 (S1) support line as a jumping platform and start aiming for the 163.00 (R1) resistance line. Should on the other hand the bears take over, we may see the pair breaking the 160.35 (S1) support line and aim for the 157.75 (S2) support level.    

In the European theatre, the climate tends to be a bit heavy given the uncertainty being posed primarily on a fundamental level. We note that there is wide uncertainty about the elections in France this weekend, which could intensify centrifuge forces within the EU while on a trading level the tensions with China remain high. On a monetary level, ECB seems predisposed for further cuts, which also tends to weigh on the EUR and we note that EUR traders are to have busy session today, given the financial releases for June and the number of ECB policymakers scheduled to speak. Any further dovish comments could weigh on EUR as they could intensify market expectations for two more rate cuts to come within the year and vice versa.    

EUR/USD edged lower yesterday remaining below the 1.0740 (R1) resistance line. We note the weakness of the pair to form lower lows over the past few days and at the same time, the pair’s price action seems to escape the influence of the downward trendline which was guiding the pair’s price action in the past week. Hence we tend to maintain a bias for a sideways motion for the time being. Yet we also note that the RSI indicator remains below the reading of 50, implying a bearish predisposition on behalf of the market for the pair. For a bearish outlook we would require the pair to break the 1.0615 (S1) support line and take aim of the 1.0450 (S2) support level, while should the bulls take over we may see EUR/USD breaking the 1.0740 (R1) resistance line and aim for the 1.0890 (R2) resistance barrier.

Otros puntos destacados del día.

Today in the European session we get the interest rate decision of Sweden’s Riksbank, Turkey’s CBT and Czech Republic’s CNB, while ECB Policymaker Kazimir, RBA Deputy Governor Hauser and ECB Board Member Elderson are scheduled to speak.  Also we note Eurozone’s data for Junes. In the American session, we get from the US May’s durable goods rate, the weekly initial jobless claims figure and the final GDP rate for Q1. In tomorrow’s Asian session, from Japan we get Tokyo’s CPI rates for June, while in the US there’s going to be the first Biden-Trump debate for the US November Presidential elections. 

EUR/USD Daily Chart

support at one point zero six one five and resistance at one point zero seven four, direction sideways
  • Support: 1.0615 (S1), 1.0450 (S2), 1.0290 (S3)
  • Resistance: 1.0740 (R1), 1.0890 (R2), 1.1010 (R3)

USD/JPY Daily Chart

support at one hundred and sixty point thirty five and resistance at one hundred and sixty three, direction upwards
  • Support: 160.35 (S1), 157.75 (S2), 154.60 (S3)
  • Resistance: 163.00 (R1), 166.00 (R2), 169.00 (R3)

Si tiene preguntas generales o comentarios relacionados con este artículo, envíe un correo electrónico directamente a nuestro equipo de investigación a research_team@ironfx.com

Descargo de responsabilidad:
Esta información no debe considerarse asesoramiento o recomendación sobre inversiones, sino una comunicación de marketing. IronFX no se hace responsable de datos o información de terceros en esta comunicación, ya sea por referencia o enlace.

Suscríbete a nuestra newsletter
[gravityform id="4" title="false" ajax="true"]
Tenga en cuenta que su correo electrónico se utilizará únicamente con fines de marketing. Para más información, lea nuestro Privacy Policy
Compartir:
Home Forex blog US GDP rates eyed
Affiliate World
Global
Dubái, EAU
28 February – 1 March 2022

IronFX Affiliates

iFX EXPO Dubai

22-24 February 2022

Dubai World Trade Center

Meet us there!

Iron Worlds Championship

Gran final

Fondo de premios de*

*Sujeto a Términos y condiciones

iron-world
iron-world

Iron World

16 de noviembre - 16 de diciembre

Depósito mínimo, 5.000$

Todas las operaciones implican riesgos.
Es posible perder todo su capital.

Iron Worlds Championship

one-million

Fondo de premios de*

planet-usd-thunder
planet-usd-thunder

Mundo de Titania

15 de octubre – 15 de noviembre

Depósito mínimo 3.000$

*Sujeto a términos y condiciones. El trading siempre conlleva riesgos. Es posible que usted pierda todo su capital.

Iron Worlds Championship

one-million

Fondo de premios de*

elements-desktop
elements-mobile

Tantalum World

14 septiembre - 14 octubre

Depósito mínimo 500 USD

*Sujeto a términos y condiciones. El trading siempre conlleva riesgos. Es posible que usted pierda todo su capital.

Gracias por visitar IronFX

Este sitio web no está dirigido a residentes del Reino Unido y está fuera del marco normativo europeo y MiFID II, así como de la normativa, recomendaciones y protecciones especificados en el manual de la FCA, el regulador financiero británico.

Díganos cómo desea proceder.

Recomendado para residentes en Reino Unido

Gracias por visitar IronFX

Este sitio web no está dirigido a residentes de la UE y se encuentra fuera del marco regulatorio europeo y MiFID II.
Haga clic a continuación si desea seguir con IronFX de todos modos.

Iron Worlds Championship

one-million

Fondo de premios de*

Phosphora World

14 August - 13 September

Depósito mínimo 500 USD

*Sujeto a términos y condiciones. El trading siempre conlleva riesgos. Es posible que usted pierda todo su capital.