Technical analysis - Page 429

The Industrial index performed well on the back of Nonfarm payrolls on Friday but was hard hit by US President Trump’s announcement of an additional $200B in tariffs on China last night. This has ended the leg higher that was.

The EURCAD pair is in a precarious position at the moment with trading restricted by the resistance trend lines overhead and supported by moving averages underneath. The BOC rate decision will be released this evening and this can impact the.

The British Pound (GBP) has recovered much of the losses from yesterday as fears over a challenge to Prime Minister Theresa May’s leadership following the resignation of two ministers have diminished. It is thought that May would win a party.

This pair has now found some support at 0.73100 and buyers have stepped into the breach to prop price up. The pair has been traded on trade war tensions, with the US implementing sanctions against Australia main export market for.

The German 30 Index has moved up to test the 12600.00 area today but has had difficulty holding onto those gains. After selling off in the middle of June, the index bottomed at 12100.00 on June 28th and began retraced.

A “Goldilocks” US jobs report on Friday created positive sentiment and boosted US equity indices. The jobs report showed solid growth with little underlying inflation pressures and so the market is not expecting faster rate hikes from the Federal Reserve..

GBPCAD The GBPCAD pair is moving higher this morning after UK’s Brexit Secretary resigns overnight ratcheting up political pressure on Theresa May’s government. The 1.74420 level is being tested as resistance with a break above this area testing 1.74617 followed.

The major economic data release for today will be the U.S. Non-Farm Payrolls (NFP) and Average Hourly Earnings. The US economy is expected to add another 195K jobs in June with hourly earnings growing to an annualized 2.8% from 2.7%.

The US 500 Index has moved higher overnight but has now retraced some of this move on the run into Nonfarm Payrolls data. The US/China Trade Tariffs went into place overnight with minimal market reaction. The market is awaiting confirmed.

The EURUSD pair is moving back higher after reaching a 3 week high at 1.17264 today and testing its 200 period MA in a 4 hour timeframe. The price has been consolidating between 1.17200 and 1.15100 since it dropped after.

The British Pound is in focus this morning after The Bank of England (BOE) Governor Mark Carney gave a speech where he suggested that the soft patch in the first quarter was due to the weather and not the economic.

USDCAD is consolidating and building energy as liquidity conditions were tight this week with the Canada day holiday on Monday and US Independence day yesterday. The price is confined to a tight range around 1.31450 with resistance at 1.31755 and.