Australian Dollar Outlook Hinges on Covid-19 Cases Ahead of RBA Rate Decision

The Australian Dollar looks set to extend gains against its major counterparts ahead of the RBA interest rate decision
Source: News FX

FTSE 100 Pushing Down on Support as GBP/USD Strength Weighs

The FTSE 100 continues to probe the lower end of its short-term trading range with the recent rally in GBP/USD weighing on UK exporters.
Source: News FX

Euro Latest: Eurozone Posts Record GDP Contraction, EUR/USD Unfazed

Eurozone GDP posts record contraction. EUR/USD remains firm as strong momentum pushes higher.
Source: News FX

British Pound (GBP) Latest: GBP/USD Soars on Dollar Woes, COVID-19 Cases Spike

US dollar weakness continues unabated, helping GBP/USD make a fresh 4-month high. A fresh spike in UK COVID-19 cases should not be ignored.
Source: News FX

USDCAD analysis for 31.07.2020

Gross Domestic Product, Industrial Product Price Index and Raw Materials Price Index were released in Canada and the US will publish PCE Core and Personal Spending.
The pair is finding support at 1.33850 with resistance at 1.34750 which the weekly pivot point at 1.34550 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is moving above level 50, the MACD line is above the signal line in the positive territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1.33800.

usdcad
Source: fxglory

GBPUSD analysis for 31.07.2020

Yesterday there were no economic reports in the UK so GBPUSD was chiefly under the influence of the reports from the US. The UK Nationwide House Price Index was released today.
The support rests at 1.30280 with resistance at 1.31960 which both lines are above the weekly pivot point at 1.27060. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
GBPUSD is trying to reach 1.32000.

gbpusd
Source: fxglory

EU Stoxx 50 Index Poised To Extend Declines Ahead of Eurozone GDP Data

The EU Stoxx 50 index may extend declines on disappointing European GDP data after snapping key chart support.
Source: News FX

EURUSD analysis for 31.07.2020

USD is under pressure and the report on GDP which came better than expected could not recover the loss.
The support rests at 1.18120 with resistance at 1.19430 which both lines are above the weekly pivot point at 1.15720. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
EURUSD is on bullish run. The first target is 1.19500.

eurusd
Source: fxglory

Crude Oil Prices May Rebound But Chart Setup Warns of Topping

Crude oil prices may rebound amid a near-term recovery in risk appetite but technical positioning warns that a broader bearish reversal may be underway.
Source: News FX

Nasdaq 100 Soars on FAANG Earnings, ASX 200 and Nikkei 225 May Follow

Nasdaq 100 futures soared after Facebook, Apple, Amazon and Google smashed earnings expectations. This has opened the door for gains in the ASX 200 and Nikkei 225 ahead.
Source: News FX