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USD/JPY:A closing break above 124.43 would also add to the conviction of a retest of the highs. Other momentum indicators are also positive, with the MACD lines above neutral and the Stochastics very strong.

NZD/USD: The positive start to today’s trade would suggest there could be something in this short term improvement.

EUR/USD: A decisive closing break below $1.0818 would open the initial support at $1.0658 but there is little reason to suspect that the pressure would not sell-off back to the April ($1.0520) or March ($1.0456) lows. The momentum indicators remain negatively correlated with further downside potential.

XAU/USD:The momentum indicators are all negatively configured and suggests that the bulls will have a really tough time now

Tuesday, 21 Jul, 2015 / 12:02

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