Daily Technical Analysis 7/17/2024

Finance and economics explained simply
Daily Technical Analysis 7/17/2024

EUR/USD

The Eurodollar is rising this morning and trading at $1.0912, up 0.13% and technically: The pair rose to the third resistance area, rebounded from it and rose again, and is currently testing the area, and the expected scenarios are to continue to rise by targeting 1.09256, and the alternative scenario is to fall by targeting the second resistance area,

Upcoming news that may affect the movement of the euro dollar:

Eurozone : Consumer Price Index 13:00

Second resistance area

1.07959 - 1.08017

First resistance area

1.07422 - 1.07486

fulcrum

1.07245

First support area

1.06980 - 1.07086

Second support area

1.06490 - 1.06592

GBP/USD

The British pound is up this morning by 0.31% and is currently trading at $1.3014, technically speaking: Resistance areas have become support areas, and the prevailing trend is upward, and the possible scenarios are to continue the rise by targeting the pivot point, and the alternative scenario is to fall to retest the first support area

News you might like about the pound’s movement against the dollar:

Second resistance area

1.33441 - 1.33818

First resistance area

1.32237 - 1.32532

fulcrum

1.31151

First support area

1.29717 - 1.29944

Second support area

1.28646 - 1.28943

USD/JPY

The dollar has been falling since yesterday after falling last week and is currently trading at 156.732, technically speaking: The pair fell yesterday and broke out of the first support area, and the expected scenarios are to rise by targeting the first support area and the alternative scenario is to fall by targeting the second support area

News you may like the movement of the Eurodollar:

Wednesday :

  • Euro: Consumer Price Index 12:00
  • Euro: Index of available prices as of 16:00

Second resistance area

2446.43 - 2451.17

First resistance area

1.08843 - 1.08700

fulcrum

1.08843 - 1.08700

First support area

1.08843 - 1.08700

Second support area

1.08843 - 1.08700

AUD/USD

The Aussie is up 0.08% against the dollar this morning and is currently trading at 0.6738, technically speaking: The prices rose and reached 0.68003, and the possible scenarios are a retest of the third resistance zone and the alternative scenario is to rise as a retest targeting 0.68000

Upcoming news that may affect the movement of the dollar/yen:

Second resistance area

0.66143 - 0.66231

First resistance area

0.65663 - 0.65783

fulcrum

0.65217

First support area

0.64541 - 0.64633

Second support area

0.60219 – 0.59604

USOIL

Oil prices are up 0.45% this morning and are currently trading at $81.10 per barrel. Technically, oil targeted $85.58, and it is possible to fall by targeting the second resistance area and then the first resistance, and the alternative scenario is to continue to rise by targeting $85.58 levels

News that may affect the movement of oil:

Second resistance area

81.71 - 82.00

First resistance area

79.08 - 79.38

fulcrum

77.47

First support area

75.20 - 75.67

Second support area

73.13 - 73.62

XAU/USD

Gold rises this morning and rises with the European session and is currently trading at $ 2,475.39 per ounce. Technically, after breaking the previous high for gold, all resistance areas became new support areas, and currently gold is trading at the pivot point, and the possible scenarios are to continue the rise by targeting the first new resistance area, and the alternative scenario is to fall to test the first support area.

News that may affect the movement of gold:

Second resistance area

2,530.06 - 2,535.45

First resistance area

2,500.40 - 2,505.19

fulcrum

2,477.45

First support area

2451.17 - 2446.43

Second support area

2408 - 2413.10

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