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Friday Topic: The EURUSD and USDJPY are Highly Active
Friday Topic: The EURUSD and USDJPY are Highly Active
Posted

By - Jamel Lahiani

Posted - 26-07-2019
  • The EURUSD is waiting for important publications: Sell if you have validation.
  • The USDJPY is bullish: Sell if the chart breaks the support line.

Our analysis will be concerned with EURUSD and USDJPY which are highly active. Very important news is highlighted today about the tow economies.

EURUSD: The most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

CLICK ALSO: Today: The US Dollar is Appreciating Against the EURO

USDJPY: Also known as trading the “gopher” the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is highly affected by the data published by the US and Japanese government.

GRAPHIC 1: EURUSD 1 HOURLY PRICE CHART (JULY 26, 2019)
The EURUSD have a strong trending movement to the downside. Even the pair breaks the resistance line in red to the upside in the past hours, it returns under the resistance line and the MA14 in blue. The pair has a resistance level at 1.11139. We are waiting for an important publication released by the US Bureau of Economic Analysis at 13:30 GMT. This publication is relative to The Real Personal Consumption Expenditure and The Gross Domestic Product and can have a high impact. If the chart breaks the resistance line in red and close to the upside it is more plausible that the movement will be bullish and then buy order is highly recommended. If the chart breaks level of 1.11139 in red and close to the downside it is more plausible that the movement will be bearish a sell order is highly recommended.

GRAPHIC 2: USDJPY 1 HOURLY PRICE CHART (JULY 26, 2019)
The USDJPY pair has a strong bullish movement to the upside. The chart is over the support line in green. But it returns now under the MA14 in blue. A resistance level was seen at the level of 108.647. This pair will be affected by the important publication released by the US Bureau of Economic Analysis at 13:30 GMT. The publications are relative to The Real Personal Consumption Expenditure and The Gross Domestic Product. If the chart breaks the support line in green and close to the downside it is more plausible that the movement will be bearish and then sell order is highly recommended. If the chart breaks level of MA14 in blue and close to the upside it is more plausible that the movement will be bullish a buy order is highly recommended.

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