8 Jul 2015
Greece, China + Forex: Dollar bias is bullish; USDJPY at 118.00 possible – FXStreet
FXStreet (Barcelona) - Dale Pinkert in the FXStreet Live Analysis Room, discusses about the key headlines of the day – China stock crash, Greece ESM, FOMC Minutes, and further shares the outlook for DXY, EUR/USD and USD/JPY.
Key Quotes
“China stock crash, Greece ESM and FOMC minutes are the topics of the day. Both the US Dollar Index DXY and SPX have inside days. Dollar bias is to have more upside left up to the 98.00 to 99.50 area; while the S&P can see the 1980 as even with Tuesday's recovery the gap from last week was not filled.”
“The EUR/USD was unable to break above 1.1050, and now the pair is back to 1.1000; GBP/USD accelerates its drop to the S1 area around 1.5370; while the USD/JPY fell below 121.50. As forecasted, the USD/JPY has negated the 122.00 breakout level 121.00, then 118.00 still viable.”
Key Quotes
“China stock crash, Greece ESM and FOMC minutes are the topics of the day. Both the US Dollar Index DXY and SPX have inside days. Dollar bias is to have more upside left up to the 98.00 to 99.50 area; while the S&P can see the 1980 as even with Tuesday's recovery the gap from last week was not filled.”
“The EUR/USD was unable to break above 1.1050, and now the pair is back to 1.1000; GBP/USD accelerates its drop to the S1 area around 1.5370; while the USD/JPY fell below 121.50. As forecasted, the USD/JPY has negated the 122.00 breakout level 121.00, then 118.00 still viable.”