{"id":22085,"date":"2017-07-25T10:00:18","date_gmt":"2017-07-25T04:30:18","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=22085"},"modified":"2017-07-25T11:27:34","modified_gmt":"2017-07-25T05:57:34","slug":"tuesday-25th-july-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-25th-july-technical-outlook-and-review\/","title":{"rendered":"Tuesday25th July: Technical Outlook and Review"},"content":{"rendered":"

\n\tEUR\/USD<\/strong>
\n<\/h4>\n

\n\tThe Euro found decent support at 1.1625 and recovered from there. However, resistance at 1.17 is tough, and the pair will not clear this obstacle that easily.\n<\/p>\n

\n\tShould EUR\/USD gather enough momentum and break above 1.17 though, the rally is likely to extend to 1.20 in the near-term. To the downside, initial support is seen at 1.1625, followed by stronger support at 1.1585.\n<\/p>\n

\n\t\"eurusd\"<\/a>\n<\/p>\n

\n\tGBP\/USD<\/strong>
\n<\/h4>\n

\n\tCable broke out of the triangle pattern and above 1.3020 resistance. This suggests that we could see another test of the major resistance area between 1.3115-30.\n<\/p>\n

\n\tHowever, Cable is unlikely to gather enough strength to break above it. Further consolidation seems likely, and trading the 1.29-1.31 range the preferred strategy for now.\n<\/p>\n

\n\t\"gbpusd\"<\/a>\n<\/p>\n

\n\tUSD\/JPY<\/strong>
\n<\/h4>\n

\n\tThe outlook for USD\/JPY is looking increasingly bearish. A test of 110 should follow soon. A clear break would likely trigger further momentum selling and pave the way for a retracement to 108.\n<\/p>\n

\n\tTo the topside, heavy resistance is seen at 111.80-112.\n<\/p>\n

\n\t\"usdjpy\"<\/a>\n<\/p>\n

\n\tAUD\/USD<\/strong>
\n<\/h4>\n

\n\tVolatility has been subdued in the past few trading days, but the Aussie Dollar remains well bid. AUD\/USD is currently consolidating within a triangle pattern and resistance is seen at 0.7950 and ahead of 0.80. It is unlikely that we will see a major breakout ahead of Wednesday's inflation data, but the pair could test 0.80 soon.\n<\/p>\n

\n\tAbove that level, there is little resistance until 0.82. To the downside, look for support at the rising trendline from Friday's low and the former key resistance level at 0.7840.\n<\/p>\n

\n\t\"audusd\"<\/a>\n<\/p>\n

\n\tNZD\/USD<\/strong>
\n<\/h4>\n

\n\tThe New Zealand Dollar is heavily overbought in the short-term, and a retracement seems likely before the uptrend continues.\n<\/p>\n

\n\tInitial support is seen at 0.74, but NZD\/USD is likely to test 0.7335\/45 support soon.\n<\/p>\n

\n\t\"nzdusd\"<\/a>\n<\/p>\n

\n\tUSD\/CAD<\/strong>
\n<\/h4>\n

\n\tThe downtrend remains clearly intact and further losses seem likely. However, USD\/CAD is approaching a major support level at 1.2460 and should see a bounce from there.\n<\/p>\n

\n\tSelling interest will remain high though. Resistance at 1.2550\/55 and again at 1.2600\/10 will not be easy to overcome.\n<\/p>\n

\n\t\"usdcad\"<\/a>\n<\/p>\n

\n\tGOLD<\/strong>
\n<\/h4>\n

\n\tThe short-term outlook for XAU\/USD is bullish following the clear break above $1250 resistance. Gold is currently struggling a bit with resistance at $1259, but it should be able to extend gains to at least $1280 in the near-term.\n<\/p>\n

\n\tBuying dips is the preferred strategy, and decent demand should be seen near the former resistance level at $1250.\n<\/p>\n

\n\t\"xauusd\"<\/a>\n<\/p>\n

\n\tWTI<\/strong>
\n<\/h4>\n

\n\tPrice has bounced ahead of $45 support, and this signals that WTI could have another test of the $47.30-50 resistance area. Above that, WTI would face solid resistance in form of the falling trendline from the February high, followed by the $50 level.\n<\/p>\n

\n\tOverall, the short-term outlook is positive, but WTI faces strong resistance ahead of $50.\n<\/p>\n

\n\t\"wti\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

EUR\/USD The Euro found decent support at 1.1625 and recovered from […]<\/p>\n","protected":false},"author":1,"featured_media":22090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,195],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/22085"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=22085"}],"version-history":[{"count":3,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/22085\/revisions"}],"predecessor-version":[{"id":22096,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/22085\/revisions\/22096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/22090"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=22085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=22085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=22085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}