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15.07.202010:22 Forex Analysis & Reviews: Technical analysis recommendations for EUR/USD and GBP/USD on July 15

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EUR / USD

Exchange Rates 15.07.2020 analysis

Players to increase managed to consolidate and stay above important supports (monthly Kijun 1.1245 + daily cross 1.1295-1.1325), due to which the growth continues. At the moment, the nearest upward reference point is being tested 1.1389 - 1.1422 (monthly Fibo Kijun + maximum extreme of June). The next reference is 1.1496-99 (100% development of the target for the breakdown of the daily Ichimoku cloud and the maximum extreme of the high March wave).

Exchange Rates 15.07.2020 analysis

The main advantages belong to players on the rise at lower time intervals. Today, the upward benchmarks within the day, in the form of resistances of classic Pivot levels are located at 1,1431 - 1.1462 - 1.1515. The supports that will maintain bullish advantages and limit the corrective decline on H1 are currently at 1.1378 (Central Pivot level) and 1.1333 (weekly long-term trend), then the support levels of the upper halves will come into operation 1.1325 - 1.1295 - 1.1245.

GBP / USD

Exchange Rates 15.07.2020 analysis

The fulfillment of the target for the breakdown of the H4 cloud (1.2656) managed to stop the further strengthening of the bullish mood and returned the pair to a retest of the levels passed the day before. Under current conditions, the support zones 1.2520-50 (daily cross + weekly Fibo Kijun) and 1.2440-60 (monthly cross + weekly Tenkan + day cloud) retain their location and significance. Working above these levels provides a certain advantage for players to increase. Their next task now is to eliminate the monthly dead cross (1.2711) and overcome the resistance of the weekly cloud, the lower border of which is located at 1.2735, and the upper one at 1.2950. After that, the players on the rise may appear new global prospects and benchmarks.

Exchange Rates 15.07.2020 analysis

The players to upgrade perform retests in the higher halves, but the depth of the current movement turned out to be significant, which contributed to the formation of the retest in the lower halves, only here are the lower players who took control of the key levels of the lower halves before. Thus, a reliable consolidation above the weekly long-term trend (1.2594) will level all the achievements of the bears on H1 and increase the chances that the retest will take place (maximum extremity 1.2669). In turn, failure of players to increase when returning to themselves key levels of low halves of 1.2594 (weekly long-term trend) and 1.2532 (central Pivot-level of the day) will help restore bearish advantages and prospects. The reference points within the day in case of updating yesterday's low (1.2479) are support for the classic Pivot levels 1.2447 (S2) - 1.2415 (S3).

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)

Evangelos Poulakis
Analytical expert of InstaForex
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