Daily Technical Analysis 7/18/2024

Finance and economics explained simply
Daily Technical Analysis 7/18/2024

EUR/USD

The Eurodollar fell this morning and is trading at $1.0930, down 0.07%, 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 : Borrowing Rate 16:15

America : Rates Complaints From unemployment 16:30

Eurozone : ECB press conference 16:45

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 fell this morning by 0.07% and is currently trading at $1.3000 from a technical perspective: Resistance areas have become support areas, and the prevailing trend is upward, and the possible scenarios are to continue to rise by targeting the pivot point, and the alternative scenario is to fall to retest the first support area

Upcoming news that could affect the movement of the British pound:

America : Rates Complaints From unemployment 16:30

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 156.25 from a technical point of view: The pair fell yesterday and broke out of the second 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 third support area

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

America : Unemployment claims rates 16:30

Second resistance area

163.079 -163.555

First resistance area

159.845 -160.165

fulcrum

159.000

First support area

155.406 - 155.343

Second support area

156.341 - 156.260

AUD/USD

The Aussie is up 0.16% against the dollar this morning and is currently trading at 0.6740, 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

News that may affect the movement of the Australian dollar against the US dollar:

America : Rates Complaints From unemployment 16:30

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 rose this morning Oil is up 0.41% and is currently trading at $81.92 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

Upcoming news may affect the movement of oil:

America : Rates Complaints From unemployment 16:30

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 $ 2,473.61 per ounce. Technically, after breaking the previous high for gold, all resistance areas became new support areas, and currently gold is returning to the anchor point after falling by targeting the first support area and failing to break it, and the possible scenarios are to continue to rise by targeting the first resistance area and the alternative scenario is to fall again by targeting the first support area again.

News that may affect the movement of gold:

America : Rates Complaints From unemployment 16:30

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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