Dynamic Pivots

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Eurfxwintrades

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Dynamic Pivots

EUR/USD GBP/USD USD/CHF

Average True Range High Band
1.2081 1.7623 1.3004
Matsys Resistance
1.2055 1.7581 1.2977
Pivot Point
1.2021 1.7524 1.2933
Matsys Support
1.1984 1.7486 1.2894
Average True Range Low Band
1.1956 1.7426 1.2859
 
Besides Greenspan testimony this Thursday, German ZEW Survey for July released at 09.00GMT today draws the biggest attention of traders this week. Expectations are for further improvement to a still very low reading of 22.

At 12.30GMT US June-Housing data is due. In his interview, Mr Poole added a remark that he expected housing market strength ‘to fade in due course’, not certain he meant todays data, which is expected to show strong housing starts of 2050k.
 
Dynamic Pivots


EUR/USD GBP/USD USD/CHF

Average True Range High Band
1.2111 1.7464 1.3113
Matsys Resistance
1.2043 1.7438 1.3066
Pivot Point
1.1994 1.7401 1.3001
Matsys Support
1.1951 1.7371 1.2978
Average True Range Low Band
1.1929 1.7336 1.2944
 
Part one of the Greenspan testimony is awaited this afternoon. Expect him to continue along the hawkish path, talking about the strengths of the current US economy and positive rate outlook. He won’t forget to put the finger on worries, such as housing (bubble) and risks of growing inflation due to rising energy prices.

Euroland Trade Balance for May is due at 9.00AM GMT, the market expects slightly lower surplus of 1.2B.
 
Dynamic Pivots


EUR/USD GBP/USD USD/CHF

Average True Range High Band
1.2192 1.7464 1.2966
Matsys Resistance
1.2144 1.7438 1.2921
Pivot Point
1.2092 1.7401 1.2900
Matsys Support
1.2055 1.7371 1.2855
Average True Range Low Band
1.2033 1.7336 1.2801
 
The Dollar lost too much value too fast last night, trading to key levels once more and also trading away from its highs without having established a lower EURUSD level.

Presently just a touch below 1.22 key resistance which may hold for half a day or even longer, is set to give way and pave the way for 1.2335 or as high as 1.2635 later on.
 
Dynamic Pivots


EUR/USD GBP/USD USD/CHF

Average True Range High Band
1.2291 1.7643 1.2878
Matsys Resistance
1.2256 1.7601 1.2834
Pivot Point
1.2201 1.7556 1.2788
Matsys Support
1.2155 1.7501 1.2733
Average True Range Low Band
1.2103 1.7476 1.2701
 
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