EURUSD: The EURUSD closed yesterday’s trading nearly unchanged after posting a decline at the European session towards 1.2992, which is currently the weekly low. Prices began to rise at the opening of the US session, closing the day nearly unchanged. Weekly bias for the EURUSD remain bullish after the EURUSD closed the trading week positively forming a bullish outside week, which is indicative of a bullish momentum. Our call is to remain bullish as long as we are 1.2947 with immediate target objectives at 1.3145 followed by 1.3205, last week’s high. A move below 1.2947 will negate our outlook and requires revaluation of price action.
GBPUSD: The GBPUSD closed yesterday’s trading day nearly unchanged posting a decline at early European session towards 1.5026, The GBPUSD has found support at this levels, which is a very important level that served as support at APR and MAY as well. Price action on the daily time frame has formed a bullish pin bar, which can be indicative for a move up. In view of this or call is being bullish as long as we are above 1.5000 with target objectives at 1.5190 initially, followed by 1.5220. A move below 1.5000 would negate this outlook and turn bias to negative and a resumption of the bearish trend.
FTSE100: The FTSE has closed last trading week positively, its 3rd week in a row. The index has retraced more than 61.8% of the decline that started at May 22th high this year to June 24th lows. The FTSE has opened this trading week positively as well. Next target objective for the index are at 6647 initially, followed by 6669. An alternative scenario for the FTSE is a move below 6537, which would be a negative sign and could initiate a deeper decline towards 6497 initially, followed by 6470.