Market updates on July 2

Market updates on July 2

During the early trading hours, the Australian central bank cut its interest rate to 1% with the dovish outlook.  As the decision was already priced in, the Australian dollar tested the ground below 50-period SMA ahead of the meeting but bounced back on the H4 chart. At the moment it is moving towards the resistance at 0.6994. The next resistance is placed at 0.7007. After the breakout of this level, keep an eye on the resistance at 0.7022. From the downside, bears need to pull the pair towards the 0.6963-0.6956 zone. After the breakout, the fall towards the support at 0.6947 is possible.

·        Yesterday, the US threatened to raise tariffs on $4 billion of additional EU goods due to the dispute over aircraft subsidies. Combined with the comments on the further easing by the ECB policymakers, the news pulled the euro below the 50-period and 100-period SMAs on H4. Bears need to break the support at 1.1280 to pull EUR/USD lower.  The next support levels will be placed at 1.1269 and 1.1257. On the other hand, if bulls try to push the pair up, they will, at first, reach the resistance at 1.1306 (100-period SMA). After that, they face resistance at 1.3190. If this level is broken, the next one will lie at 1.1348 (50-period SMA). RSI oscillator is about to leave the oversold zone, which may provide a buying opportunity. Pay attention to the speech by the FOMC member Williams, which may affect the EUR/USD pair.

·        The uncertainties for the British pound remain, as one of the leading candidates on the post of the UK Prime Minister plans to leave the EU without a deal on October 31. The cable has been trying to stick below the 1.2623 on H4. The next support levels will be placed at 1.2612 and 1.2603. From the upside, buyers will pay attention to the 1.2648 level. After the breakout, the pair will rise as far as the 1.2670 level (100-period SMA) is reached.

·        The greenback has risen significantly against the Chinese yuan. The USD/CNH has been testing the resistance at 6.8855 on the H4. The next significant level is placed at 6.8917. The PBOC set USD/CNY reference rate for today at 6.8513, that is why we may anticipate the fall of the pair. Keep an eye on the support levels at 6.8636, 6.8578 and 6.8486.

·        Gold has been trading in a narrow range between $1,383 and $1,393 levels on H4. If the $1,393 level is broken, the next resistance lies at $1,404. After the breakout, the bullish strength may be limited by the resistance at $1,411. Bears need to pay attention to the $1,383 and $1,364 levels.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera