Daily reviews

News for today, Wednesday, July 6

European stock futures are up today after yesterday’s slump. DAX futures traded 1.1% higher, CAC 40 futures were up 1.2%, and FTSE 100 futures rose 1%.

The U.S. dollar slid today with the DXY index down 0.1%, while EUR/USD achieved its two-decade weakest level …

The EUR/USD pair declined and managed to break the support level at 1.0330, and reached the next target at the value of 1.0250, which is a historical bottom for the price, and it is settling around this level. Affected by the negativity of the stochastic indicator and the negative pressure …

The GBP/USD pair achieved its bearish target and reached the support level of 1.1950 after the strong bearish movement that formed yesterday, where the price managed to breach several levels of support to confirm the strength of the current bearish path, which is likely to continue during today's trading. We …

Gold managed to break the main support level 1790.00 and started a lower, bypassing several levels of support before stopping the movement temporarily at the support level 1760.00. This is under negative pressure from the moving averages.

It is likely that we will see some correction to the upside as …

The descendant wave structure of H4 and H1 levels are truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss is below the local …

#ROG

The trend is descendant. The share is traded between 365 and 135 EMA. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator indicates overbought conditions.

Trading idea:

Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of …

News of the day, Tuesday, July 5

Gold fell by 0.2% yesterday to $1807 per ounce, over a softer dollar and prospects of higher interest rates.

The U.S. dollar edged lower today, with the DXY index down 0.1%.

Brent crude dropped today amid concerns over the possible recession. Brent crude …

The EUR/USD pair stabilized in the sideways range around the 7-20 EMAs and did not give any indication for the movement, so we maintain expectations of continuing the bearish path as long as the price is below the resistance level 1.0475, and the target will be the level of 1.0330 …

The descendant wave structures are truncated. The historical support 1.3391 restrains sellers. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The inclined channel of the descendant truncated structure is breached.

Trading idea:

Buy when level 1.3424 is breached.

Stop-loss: 1.3391.

Target levels: 1.3450; 1.3520.

The pound sterling against the dollar did not form any significant movement during yesterday's trading, as it settled within a sideways range around the level of the two moving averages 7-20, but the bearish path remains the most likely in the coming periods, due to the negative pressure of the …