Today the USA celebrates Independence Day. So, we expect calm trading session
with low volumes. We will dedicate this day preparation to the most important
news – Nonfarm Payrolls. This employment metric will be published on Friday.
Analytics expect increasing by 190 000. We recommend be careful and use
today’s calm to reduce positions before Friday’s volatility hike will come.
The most interesting technical signal is the 200 pips wide triangle started after the
bounce from the 1.15 support. If Nonfarm Payrolls would be suited for bulls, we
expect the growth at least to 1.18 resistance.
There are several technical reasons to buy Ripple on current levels:
1. Coin bounced from the important support level $0.43
2. On the weekly chart EMA200 moving average supports XRPUSD pair
3. While Ripple was testing $0.43 level bullish engulfing was happened on the
4. On the 4H chart, we can see “reversed head and shoulders” pattern
5. XRPUSD crossed up 50-period moving average on the 4H chart
6. Moving averages made a bullish crossover on the 1 Hour chart
Our based on this signals forecast is growth to $0.6760 resistance where 50% Fibo
So, our targets for
EURUSD – 1.18
XRPUSD – 0.6760