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Review of major currencies on July 01

The Dollar/ Euro

For the American currency this week, including today, may be critical. Because of its momentum that made possible for is to finish last week notably above all other G10 countries currencies, including Euro. Also it’s still possible for a dollar to continue moving in this direction, but the negotiations still outgoing in Greece and their results and also the anticipation of well-known labor market in America can make a really notable difference. So the week was shaping to be rather quiet, with its quite limited risks of the economic surprises. But dollar, rather unexpectedly, rallied against its levels of the technical support and have been pushed up. So it continued to rally during the first day of this week, but really decisive moves will be done the next few days. What to expect depends on the outcome of the Greek negotiations.

But mostly this situation will affect the European currency. Because right now, despite no certain information, about the technical default in this country, it will miss at least two of the payments into the European Monetary Found. The European Central Bank makes actions through the ELA to help Greek bank not to drown. But not all of the actions ECB might take are compatible with the rules it stands on. So we can expect really important volatility in this pair. So this time the stability of European currency is the thing we can’t expect.  And also after all this actions dollar may react and its volatility might be noticeable this week to.

The limit orders are:

By Morgan Stanley: the sell limit is at 1.138, T/P: 1.05 and S/L at 1.148

Credit Suisse gives us this limit lower, at 1.129, T/P: 1.105 and S/L: 1/1348


They may continue their work towards the top of their range, which is now at 0.782-30. The retracement in this case reaches 38.2%. Among the developing to the key support with 0.7570 and even 0.7590. In the first case the retracement reaches 50% and in the other one we can admit the 100% of expansion. Also the verbal intervention of AUD, retained by RBA’s governor its position will be changing in the positive way. This will be caused by the PRC’s development. Notice that Australia is one of PCR’s most important trading partners.

However the SSI at websites shows that this currency has no extremes in its ratio since it sat at +2.16.

The orders go like 0.775, T/P: 0.72 and S/L: 0.785 at sell limits. According to Stanley.


The pair GBP / USD

The Greek situation has influent not only the EUR. All of the European currencies have been affected. Including pounds. So the range-bound prices are the thing that might continue through all July. But the fresh rhetoric coming out of the UK’s main bank with its main report on 1st of July makes us to keep an eye on it. Because the growing dissent may, or may not be highlighted or headed, by the Bank of England.

The limits in this case are 1.565, T/P: 1.6 and S/L: 1.555 for buying. Also according to Morgan Stanley.


The pair NZD/ USD

Here you can expect the levels around 0.684 and it will not sit at this position. The ongoing decrease is being expected. So it will continue its work to the lowest position. The growth, if it will actually be, will be probably not high enough to reach even yesterday position. The situation makes a clear pattern of falling so the trades must be entered carefully. Recommended to follow to the rules for the situation.

The Dollar / Yen

At this pair Pin Bar shows that the situation will change comparing to the previous periods. The upward movement is going to happen after all yesterday movement and the Doji pattern formed. Also the trading according to the rules id recommended.



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