![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/7-July-20\/27-07-2020\/eur-usd.PNG\")
<\/p>\nThe USD remained under pressure as the tensions at the US-Sino relationships seem to be still at high levels, while at the same time the epidemiological picture in the US continues to weaken hopes for a quick recovery. It was characteristic how analysts tend to mention that the declining US treasury yields seem to weaken the USD, while at the same time some analysts tend to note that even the USD\u2019s safe-haven qualities seem not to be present. Also worries about a possible political deadlock in the US for the new fiscal stimulus tend to create bearish tendencies for the USD. On the east side of the Atlantic, EUR-investors seem to be more confident as in the Euro-area financial data appear to underscore the recovery of Eurozone\u2019s economy, while at the same time the common currency seems to still enjoy support from the fiscal stimulus package agreed by EU leaders last week. Should market worries intensify about the recovery of the US economy we could see the greenback relenting more ground.<\/p>\n
EUR\/USD continued to rally on Friday and during today\u2019s Asian session, testing the 1.1720 (R1) resistance line, thus reaching new highs since 2018. We maintain a bullish outlook for the pair and for it to change, we would require a clear breaking of the upward trendline incepted since the 23rd of July. Should the bulls actually maintain control over the pair, we could see it breaking the 1.1720 (R1) line and aim for the 1.1790 (R2) level. Should the bears take over, the pair could break the 1.1655 (S1) line as it travels further south.<\/p>\n
Gold\u2019s prices reached new record highs during today\u2019s Asian session as the weakness of the USD, may have fuelled gold\u2019s ascent even further. Analysts tend to note that with the USD weaker at the current moment lots of funds tend to move towards gold. The escalation of the tensions in the US-Sino relationships tended to maintain uncertainty at high levels, adding to the buying momentum for gold. Should uncertainty be maintained at high levels and the USD weaken further, we could see the gold\u2019s prices setting new records. Gold\u2019s prices reached new record highs during today\u2019s Asian session, by testing the 1945 (R1) resistance line. We tend to maintain a bullish outlook for gold as the upward trendline incepted since the 21st of July guides it, if not has even steepened. Please note that the RSI indicator below our chart remains clearly above the reading of 70, underscoring the dominance of the bulls, yet may also imply that gold\u2019s long position is rather overcrowded. Should the precious metal continue to be pushed by buyers, we could see its price breaking the 1945 (R1) resistance line and aim for the 1970 (R2) level. Should the bears take over, we could see gold breaking the 1920 (S1) line, the prementioned trendline and test the 1900 (S2) level.<\/p>\n
Today in the European session, we get Germany\u2019s IFO indicators while in the American session, we tend to focus on the release of the US durable goods orders growth rates for June.<\/p>\n
On Tuesday, we get the US consumer confidence for July. On Wednesday, we get Australia\u2019s inflation measures for Q2 and from the US the FOMC interest rate decision. On a busy Thursday, Switzerland\u2019s KOF indicators for July, Germany\u2019s employment data for July, Germany\u2019s GDP for Q2, Eurozone\u2019s unemployment rate for June, Eurozone\u2019s consumer confidence for July, Germany\u2019s inflation rates for July, the US GDP rate for Q2, the US weekly initial jobless claims figure and Australia\u2019s building approvals for June are to be released. On Friday, we get Japan\u2019s employment data and industrial output for June, China\u2019s NBS manufacturing PMI for July, France\u2019s GDP for Q2, UK\u2019s Nationwide House Prices for July, France\u2019s and Eurozone\u2019s inflation measures for July, Eurozone\u2019s GDP for Q2, the US consumption for June, Canada\u2019s GDP for May and the US University of Michigan consumer sentiment for July.<\/p>\n
EUR\/USD 4 Hour Chart<\/b><\/p>\n
<\/p>\n
Support: 1.1665 (S1), 1.1600 (S2), 1.1545 (S3)
\nResistance: 1.1720 (R1), 1.1790 (R2), 1.1850 (R3)<\/p>\n
XAU\/USD 4 Hour Chart<\/b><\/p>\n
![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/7-July-20\/27-07-2020\/xau-usd.PNG\")
<\/p>\n
Support: 1920 (S1), 1900 (S2), 1870 (S3)
\nResistance: 1945 (R1), 1970 (R2), 2000 (R3)<\/p>\n
![\"benchmark-27-07-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/7-July-20\/27-07-2020\/benchmark.JPG\")
<\/p>\n
![\"table-27-07-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/7-July-20\/27-07-2020\/table.JPG\")
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![\"morning-releases-02-07-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/7-July-20\/27-07-2020\/morning-releases.JPG\")
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\uba74\ucc45 \uc870\ud56d:<\/p>\n
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The USD remained under pressure as the tensions at the US-Sino relationships seem to be still at high levels, while<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_daim_seo_power":"","_daim_enable_ail":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-15019","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"\n