Market updates on July 23

Market updates on July 23

  • Yesterday, US President Donald Trump and the Congress reached a deal on the extension of the debt limit and federal spending caps for two years that would avert a government default later this year. The USD got stronger on the announcement. Combined with the priced-in dovish statement by the ECB later this week, the news pulled EUR/USD lower. On H4, EUR/USD has tested the support at 1.1187. If the euro continues its downward movement, the further fall will be limited by the 1.1176 level. After that, the next support will lie at 1.1165. In case of recovery, the pair will face the 1.12 level. If it is broken, we will pay attention to the 1.1211 level and the next resistance at 1.1220.

EURUSDH4.png

  • GBP/USD has been falling ahead of the results of the Conservative leadership contest, where Boris Johnson is expected to become a prime minister of the UK. The fears that he may leave the EU without a deal affect the British currency negatively. The final announcement will be made around 01:45 MT (22:45 GMT). At the moment, the key levels from the downside on H4 lie at 1.2422, 1.2399 and 1.2345. In case of the surprise victory of Jeremy Hunt, the GBP will get a push to the upside. In this situation, we will see the reversal towards the 1.2475 level. The next key resistance will be placed at 1.2495. (50-period SMA). If bulls are excited enough, there will be a possibility of reaching the border of the downward trendline at 1.2515.

GBPUSDH4.png

The New Zealand dollar has weakened after the headlines about the new unconventional policy by the Reserve bank of New Zealand. Reportedly, the bank is considering the idea of QE as its next step. On H4, the NZD has been targeting the 50-period SMA. If it slides below this moving average, the first support will lie at 0.6715. After that, the next support will be placed at 0.67. On the other hand, the retest of the 0.6738 level with the following breakout may push the pair higher to the resistance at 0.6757. The next resistance will be placed at 0.6782.

NZDUSDH4.png

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

US Evades Default This Time
US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

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.

Callback

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