Not Much of Moving Fundamentals

Daily Forex Fundamentals | Written by Crown Forex | Jul 21 08 14:31 GMT |

With little moving fundamentals on the economic scene majors trading was rather tight and confined with no major abrupt movements altering the ongoing short-term wave. The euro started the new week on a positively favored technical pattern as still the base is seen solid at 1.5830-20 offering more tendencies to take the euro into a new upside wave as the sideways trade seen has helped the euro ease some of the buying orders saturation and acquiring momentum to set higher; with low volume the euro failed to breach into 1.59 successfully as trading remained below breaching that levels set the 1.5940s as the major resistance level that if breached might provide stronger upside momentum for the pair to attempt new record highs above 1.60 mark. Sterling was once more saved by the solid 1.99 support level as again it proved to be capable to denounce the currency of the downside wave and offer more demand on the pair which is with the help of the solid 1.9970-80 resistance are forcing the pair into a sideways wave to adjust momentum and thereby then breaching each of the levels will clarify the extent of the coming wave, though heavy fundamentals are waited from the UK economy this week and surely will have the saying in defining the coming wave. The USDJPY lack enough momentum to continue the upside as after the pair failed to trade below 106.30 levels the pair attempted the 107 levels once more especially with the lack of moving fundamentals which influenced the pair's ability to tilt more to the upside as the risk appetite is supporting the move further as US stocks escaped the bearish market which supports the positive sentiment. Crown Forex disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.