Dynamic Pivots

07/25 13:21 USD/CHF SHORT 1.2934 1.2946 07/25 13:38 -12
07/25 13:20 GBP/USD BUY 1.7396 1.7442 07/25 14:52 46
07/25 15:13 EUR/USD SHORT 1.2044 1.2046 07/25 15:32 -2


Total Daily Result on T signals (2 lots): 62 pips
 
Dynamic Pivots


EUR/USD GBP/USD USD/CHF

Average True Range High Band
1.2098 1.7501 1.3101
Matsys Resistance
1.2043 1.7443 1.3055
Pivot Point
1.1974 1.7371 1.3001
Matsys Support
1.1951 1.7326 1.2956
Average True Range Low Band
1.1933 1.7287 1.2908
 
Euroland Current Account Details for the 1st Quarter will be out at 9.00GMT, this being relatively old data and monthly releases for Jan to March passed, we can not expect markets to react too strongly.
US Durable Goods Orders for June are expected to fall by 1%, which should not be any worry after the very strong gain in May, it will be released at 12.30GMT. New Home Sales for June are due at 14.00GMT, with growing talk of a US housing bubble the market may be very sensitive to surprises, provisions are for 1.3m new units sold.


The Dollar looks bullish once more, EURUSD resistance is falling and we have again moved down to 1.2000, ready to challenge the 1.1960 and maybe the 1.1860 low later on. Cable has now also broken the rising support and clings on to 1.7350 from where it has bounced a few times. In European morning we may see one last such bounce, limited to 1.7400, expect to fall to 1.7200 next.
 
After strong economic data, Eur on short squeze rally to 1.2053 resistance levels, we expect 1.2081 will be top of the range and consolidation between 1.2011.

Range 1.2011 - 1.2081
 
It seems that the market is currently trying to trigger stops at 1.2060 on
short EUR/USD. It is uncertain if it will succeed. You should have a safety
stop loss on Matsys-R short (as always) in case it does. If the 1.2060 level
is not broken, it is likely to fall back to 1.2022 where there is good
support.
 
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