UK Budget Deficit Widens More Than Forecast

The UK budget deficit widened more-than-expected in June as debt interest increased notably after inflation lifted the cost of index-linked bonds. Public sector net borrowing, excluding interventions, increased by GBP 2.0 billion from a year ago to GBP…

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Loonie Rises After Canada CPI, Retail Sales

Following the release of Canada CPI for June and retail sales for May at 8:30 am ET Friday, the loonie advanced against its major rivals.

The loonie was worth 1.2562 against the greenback, 88.79 against the yen, 1.4616 against the euro and 0.9957 ag…

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Loonie Mixed Ahead Of Canada CPI, Retail Sales

Canada CPI for June and retail sales for May are due at 8:30 am ET Friday. Ahead of the data, the loonie traded mixed against its major rivals. While the loonie held steady against the euro and the aussie, it eased against the greenback and the yen.

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UK Budget Deficit Widens More Than Forecast

The UK budget deficit widened more-than-expected in June as debt interest increased notably after inflation lifted the cost of index-linked bonds.

Public sector net borrowing, excluding interventions, increased by GBP 2.0 billion from a year ago to …

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Elliott waves for Forex correlation analysis – Waiting for corrections to end or above 1.30393

GBPUSD – Flat Wave Analysis: For the past four trading days, the cable has lost almost 100% the value it gained Friday the previous week. We expect this downward rally to be a mere corrective wave count and should not go beyond the daily support level 1.2777. If this level can be broken to the lower side, then this will be the next best place to short this pair. But until then, we’ll be waiting for a possible rebound from 1.2777 to long this pair at the least risk possible. Alternatively, if the price can ascend above 1.30393, then this will be an ideal place to long this pair. Trade this pair alongside EURUSD, AUDUSD, NZDUSD, EURJPY and AUDJPY. These pairs have a strong positive correlation of up to +78% and will move in the same direction during this intraday. Trade Recommendations: Wait for a clear breakout above 1.30393 to long this pair with a target at 1.33. Short positions can only be recommended below 1.2777 with a target at 1.2444.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
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Technical Analysis Based on Breakout – Flat

USDJPY – Down Technical Observations The USDJPY formed a Doji Candle on Thursday, which shows an indecision in the market. If the price can close below the 4 hour support line 111.82 with a big red candle, then I expect Usd to post fresh weekly low today. Ideally, a break below 111.82 may mean the price may plummet further towards 110.76 and even break below. From the 4 hour perspective, its worth waiting for a breakout below 111.82 to short usd towards 110.76, however, while the price maintains above 111.82, intraday trader could look for long positions towards 112.03. Technical levels: Resistance levels R1: 112.35 R2: 112.86 R3: 113.8 Pivot 111.92 Support Levels S1: 110.04 S2: 110.98 S3: 111.41 Trade Signal Flat
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
https://freshforex.com/analitics/fresh-forecast/technical-analysis-based-on-breakout/issue_124026.html?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssnews&ff_mrk=rss&aff=64063

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Technical Analysis Based on Breakout – Wait for retracements to buy Eur

EURUSD – Up Technical Observations From the weekly point of view, Eur has just broken a key resistance line 1.1459 and unless there’s a clear bearish breach below this line, I expect a rise towards 1.2558. However, this position should not be executed just now, instead, conservative traders should wait for a pullback towards the just broken line 1.1459 to re-buy Eur towards 1.2558. Moreover, the price is way above it’s weekly pivot line and may continue upwards . My advice, wait for a bearish retraction towards 1.149 to long eur towards 1.2558. Technical levels: Resistance levels R1: 1.1701 R2: 1.177 R3: 1.1949 Pivot 1.1443 Support Levels S1: 1.1231 S2: 1.1411 S3: 1.1522 Trade Signal Day traders should wait and buy Eur around 1.1459 towards 1.2558.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
https://freshforex.com/analitics/fresh-forecast/technical-analysis-based-on-breakout/issue_124025.html?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssnews&ff_mrk=rss&aff=64063

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Technical Analysis Based on Breakout – Flat

GBPUSD – Flat Technical Observations Gbp has crossed below a key daily support line 1.3010 despite my projections that the price would rise towards the weekly resistance line 1.3306. While price is below the now support line 1.3010 I maintain a bearish bias in the short run. However, if price rise above 1.3010 by the end of today, then traders maintaining bullish bias on this pair, should extend their projections towards the weekly resistance line 1.3306. On the weekly chart above, I would advice position traders to remain flat temporarily and wait for this bearish price rally to end then buy Gbp towards 1.3306 Technical levels: Resistance levels R1: 1.3048 R2: 1.3072 R3: 1.3115 Pivot 1.2979 Support Levels S1: 1.2943 S2: 1.2986 S3: 1.3005 Trade Signal Flat
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
https://freshforex.com/analitics/fresh-forecast/technical-analysis-based-on-breakout/issue_124024.html?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssnews&ff_mrk=rss&aff=64063

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