Euro Dollar Experiencing Rally
The dollar pushed lower against other major currencies on Friday (10/7), due to hopes for progress in Greek debt negotiations boosted demand for riskier assets.
EUR / USD rallied as much as 1.40% to as low as 1.1191 after Eurogroup explain the latest reform proposals aimed at securing Greek bailout third overall. President of the Eurogroup, Jeroen Dijsselbloem, said that big decision in any way can now be made at a meeting of euro zone finance on Saturday.
On last Thursday, the Greek government offered to do spending cuts and tax increases, as a last request to win one more bailout of Europe before Greece actually sinking into bankruptcy.
Athens was looking for at least 50 billion euros for the next three years. Instead, the government presents a number of austerity measures amounting to between 12 billion euros and 13 billion euros.
Prime Minister of Greece, Alexis Tsipras, is expected to reform through voting (voting) in parliament on Friday night.
Technically, today’s trading session on Monday (13/07), the pair Euro-dollar likely to move in a positive trend.
The strengthening Euro is mainly expected to immediately re-examine the minimal resistance at 1.1180 and maximum 1.1250. Meanwhile, if the Euro unable to break below 1.1132 and then survive another alternative scenario will be Euro likely to test support in 1.1100 area and 1.1050.
Gold Price Set At Low Level
Gold opened down at the start of Asian trade on Monday (13/7). The problem of Greece still overwhelmed, as investors awaited the announcement of the status of the Bank of Greece and a third of the bailout program.
Division of the New York Mercantile Exchange, gold futures for August delivery fell 0:34% to $ 1,162.80 a troy ounce. Greece and its creditor’s remains split for the new bailout deal, quoted from a report this week in Europe, adopted a German with the demands that could prevent the rapid release of liquidity to the banking sector in the country.
After a meeting between Greek Prime Minister Alexis Tsipras, Chancellor Angela Merkel, French President Francois Hollande and European Council President Donald Tusk, reports suggest that Greece needs to pass a series of measures and reforms in Parliament and then a discussion of the new loan agreement in order to get started.
Such a move would remove Greece from the Central Bank in the near future with the terrible situation of Greek banks.
Last week, gold ended the day lower on Friday, amid indications US interest rates will begin to rise later this year and continue to monitor developments between Greece and its international creditor’s investors.
Federal Reserve Governor Janet Yellen said in a speech last Friday, the central bank is on track to raise interest rates at some point this year. Comments from Yellen are most definitive during 2015. The rate hike expectations that interest rate rises are considered bearish for gold.
On the other Comex trading, silver futures for September delivery fell 0.47% to $ 15,608 troy ounce. Copper for September delivery fell 0.73% to $ 2,524 per pound.
Technically, gold in today’s trading session on Monday (13/07) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1155.25 and re-test the maximum level of 1150.50. However, if the price of gold is able to break and hold above 1161.70, the estimated price of gold could potentially test the Resistance 1165.10 and 1170.50.
Nikkei Streaking By Fall of Yen
The Nikkei index of the Tokyo Stock Exchange in early trading Japan earlier this week (13/7), successfully opened soared from the pressures of trading on the previous weekend due to the collapse of the Japanese Yen.
The weakening of the Yen managed to push the performance of stocks of Japanese exporters this morning, where the shares of Sharp Corp. / Japan meimpin biggest gain this morning by 2.91%, followed by Daichi Sankyo shares of 1:03%, shares of Sony Financial Holdings% 1:01, 1:56 Ajinomoto% stake, Mitsubishi Chemical Holdings 0.68%, shares of Konica Minolta 2%, Bridgestone shares 1.65%, 1.68% stake Hitachi, Panasonic shares 1.84%, and amounted to 3.11% of the shares Sony.
Strengthening these shares managed to streak this morning the Nikkei index by 213.58 points, or 1:06%, to 19993.41 points of the position into the closing trading on the previous weekend at 19779.83 points and reached the highest position at the end of the previous week at 19978.24 points and the lowest previously at 19720.15 points.
But unlike the movement of Nikkei index futures this morning, which opened down 65 points or 0:32% to become 20 005 points from the previous closing position traded at 20 070 points and reached the highest position of the previous week at 19 980 points and the previous low at 19 715 points.
Based on the closing of trading on the previous weekend, the analyst estimated that the movement of the Nikkei index today will try to try to penetrate the first support pada19.720 points with MA5 under BB10 daily, if the movement index broke through the first support is expected to try to penetrate the second support at 19 525 MA5 points with under BB10 daily.
If the movement of the index managed to resume strengthening traded before, then is expected to try to penetrate the first resistance at 20 055 points by the middle MA5 BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate the resistance at 20 255 points by the middle MA5 BB10 daily.
Technically, the index on the trading session today, Monday (13/07) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first resistance level of 20080 and 20150. If it fails at 20025, then the next index is expected to tend to retest the support level of 20000 and continued until the possibilities are in the area of 19 940.
