Weekly Forex Market Update & Key Levels July 27 – 31st

WEEKLY FOREX UPDATE

EURUSD – Despite last week’s bailout rescue package for Greece, the Euro is still trending downwards and still seems that investors are not buying into what is going on as the end of their economic issues. Although, the Euro has been trending sideways, we still do stand with a bearish bias on this market.  EURUSDDaily-260715

AUDUSD – The Aussie and the Loonie faced a grim week as commodities took a nose dive, driven largely by China’s stock market debacle. A pullback back into the previous support zone of 0.757 could present itself as a good shorting opportunity. Have this pair on the lookout this week. AUDUSDDaily-260715

WTI – Another week to the downside for oil. As previously stated in a past weekly update, we remain bearish on the price of oil for the short term.

WTIDaily-260715

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Chris Ferreira

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