15.08.2022
Chicago 12, Melborne City, USA
Reviews

Forex Analysis & Reviews: 07/01/2022

Relevance up to 02:00 2022-07-02 UTC+00

The dollar index weakened by 0.39% on Thursday, which the British pound took advantage of for growth by 57 points. The 1.2073 target level has not been reached. Considering that this morning the price already covered half of yesterday’s losses, the 1.2073 level can be taken today.

Exchange Rates 01.07.2022 analysis

On the other hand, which implies a longer consolidation of the pound in the range of 1.2073-1.2250, the price may continue to move up on today’s business activity indicators for June that are not very favorable for the dollar – the forecast for the ISM Manufacturing PMI is 54.6-54.9 against 56.1 in May. In such a scenario, testing the 1.2250 level may coincide in time with the touch of the signal line of the Marlin Oscillator of the border with the growth territory, which will lead to a simultaneous downward reversal of the price and the oscillator.

Exchange Rates 01.07.2022 analysis

On a four-hour scale, the price develops between the balance and MACD indicator lines, the Marlin Oscillator is in a downward position. The situation is neutral, in which it is advisable to wait for the resolution of the current situation and only then make a decision. The bears have a long way ahead – falling below 1.2073 opens the target at 1.1800.

* The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

administrator
My name is Lawrence. I am one of the most famous forex trading schools. The purpose of creating this project is not only to give working advice on the Forex market, but also to warn beginners from fraudulent projects. Here we publish reviews of all Forex training scam projects, and professionally train those who have just decided to enter this niche.

    Leave feedback about this

    • Quality
    • Price
    • Service

    PROS

    +
    Add Field

    CONS

    +
    Add Field
    Choose Image
    Choose Video