Outlook for the last week of July - Technical

Salam,

OK here's the technical part:

Technical

Cable – Last closing price were actually just above the 20-day SMA of 1.6369 on the daily time frame. Meanwhile on the 1H and 4H time frame, momentum indicators are showing that the pair is already oversold.

If the price breaks below the 20-day SMA and fundamental data giving negative signal, I am going to take a sell position on this pair. My target would be the support level of 1.6238 (purple horizontal line) – around 150-200pips target.

Fibre – On the daily time frame, momentum indicators showing the price had already reached overbought level. If price breaks below 1.4200, strong support would be on 1.4140-1.4160 level. Price have been ranging between 1.38-1.43 levels for 2 months now and could possibly stay within the channel for some time if no strong news or data supporting breakout.

Aussie – Last week saw Aussie break the downtrend channel but 0.8200-0.8225 becoming the new resistance level. Stochastic and RSI are showing that price at current level are overbought. If corporate earnings and fundamental does not support the AUD, we can see Aussie dropping back into the channel.

T.A.Y.O.R
Trade At Your Own Risk!!