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> Technical Analysis 2017.07.19 - USD/JPY & XAU/USD
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Technical Analysis 2017.07.19 - USD/JPY & XAU/USD

STO

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The daily chart is showing USD/JPY is in the lower Bollinger band. USD/JPY price is still level with the EMA65, EMA130 and SMA200 which are parallel to the chart axis. RSI is dropping under MA. The Composite is challenging strong support.



XAU/USD
Current trend
XAU growth is largely due to global economic risks and volatility. The underwhelming testimonies of Janet Yellen in front of congress and statements made by other FRS officials, in combination with negative macroeconomic statistics from the US the last two weeks and the most recent legislation/reformation crisis all bolstered XAU/USD price. Yesterday gold broke through strong resistance at 1240.00 and is trading at1250.00.

Building Permits is slated to be released at 14:30 GMT+2 the the current forecast is 32K and Housing Starts Change forecasted by 63K. The EIA Crude Oil Stocks change is also to be released at 16:30 GMT+2, forecasts are expecting a dip but not one as low as last week.

XAU/USD Support and resistance
Support: 1240.00, 1230.00, 1210.00.
Resistance: 1250.00, 1265.00, 1280.00.



This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-20170719-usdjpy-xauusd/?camp=24219
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