Eur/usd technical analysis 30-7

Euro has been rallying since the winning of macron over le pen . Closing above 1.0780$ then cleared the path for eurusd to 1.14$ and then tackling it to reach 1.1770$ so far.

Would we see any retracement for the pair anytime soon?

You can not tell and going against the trend will always put you in bad positions .

So , technically euro would find support at 1.1703$ followed by 200 MA on the hourly chart which currently lies at 1.1650$ followed by the famous 1.1580$

On the other side , next resistance lies at 1.1740$ , followed by 1.1770$ and then multi year low 1.1860$

Fundamentally speaking ,the eurozone is still recovering and the pair is trading at fair value .

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

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