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Daily Technical analysis for July 27, 2021

EUR/USD

Current level – 1.1802

Neither the bears nor the bulls were able to gain momentum and take control over the market and, at the time of writing the analysis, the currency pair is testing the resistance zone at 1.1805. An unsuccessful breach of the mentioned level would most likely lead to a price reduction towards the support zone at 1.1760. This, in turn, could strengthen the bearish mood and pave the way for the currency pair towards the next zone from the higher time frames at 1.1700. The data on durable goods orders ex transportation (12:30 GMT) and the consumer confidence data for the U.S. (14:00 GMT) will be the main economic news for the investors today.

USD/JPY

Current level –  110.18

Market participants still cannot take a clear position as the currency pair is looking to form a narrow range between 109.50 – 110.60. A breach of either boundary of the range could give market participants the incentive necessary to steer the pair in a clearer direction.

GBP/USD

Current level – 1.3818

The pound continues to regain the lost ground against the U.S. dollar and, at the time of writing the analysis, it is trading just above the resistance zone at 1.3800. If this breach is confirmed, this could pave the way for an attack on the next resistance zone at 1.3894. This, in turn, could lead to a resumption of the upward movement towards the first significant resistance at 1.4000, and then towards the local highs at around 1.4200. In the negative direction, the main support remains 1.3739.

Gold price attempts to break

Gold price attempts to break 1797.00 level, reinforcing the expectations of continuing the bearish trend, which gets continuous negative pressure by the EMA50, waiting to open the way to head towards 1770.00 that represents our next main target.

Therefore, we will keep our bearish overview for the upcoming period unless the price rallied to breach 1825.15 and hold above it.

The expected trading range for today is between 1775.00 support and 1815.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

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