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Technical Analysis June – July

 Technical Analysis EURUSD.

The EURUSD has broken a bearish channel since May 2018, it now has a double ceiling in the 1.14 area and now at this time the forecast is that it will reach 1.16 but before it may go back to the area of 1.10 channel support.

It is halfway and the strategy is to buy to look for the break of 2020 highs and the maximum target is 1.16 that could arrive in August.

Europe is not at the level of the United States in this crisis, everything that the EURUSD raises is favorable to American exports and hurts the European ones..

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Technical Analysis SP500.

The medium-term analysis for the SP500 is Bearish. 

The index that is very volatile has a forecast of going back below 2,500 points.

Now is a good time for longer term position traders to start looking for sells. When it is above 3000 points, the idea is to sell and continue selling to its maximum 3450, seeking a medium-term drop below 2500 points. 

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The Index that is going to behave best in this crisis is the Nasdaq, while the indices that has the most weight of industrial companies [DJIA, DJT] are going to be the most penalized.

One suggestion is to search MT5 of Tradeview for shares of Airlines, or tourism travel companies, all of which are not too big to be rescued by a government and are good to speculate in the short term.

Technical Analysis XAUUSD

Gold is in the maximum area, the strategy is to buy looking for the goal of $ 1,800.

Throughout this year, a forecast is made that gold will once again be one of the index where the maximum breaks. 

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Although it is very high there are still opportunities to do some longs looking for new highs, and always the month of August can be a month where you can see pairs like this breaking the highs.

Guilherme D’Orey

FX Derivatives Sales Trader

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