In the lastforex trading day, U.S. released the housing data, which was better thanexpected. The main market is waiting for the result of U.S. Federal Reservemeeting and the solution of Greece debt crisis. Greece government has alreadywon a confidence vote, whereas the next vote is about Greece government thatwants to reduce expenditure. That U.S. Federal Reserve hold a interest ratesmeeting will become a focus.
Next meetingabout interest rates would be held next month that could give a direction tofurther economic plan. Fragile economy and spread European debt issue wouldinfluence US economy recovering, so Federal Reserve could not considertightening monetary policy, but it might consider extending economic stimulusplan in this situation.
S&P inferredon Tuesday that the risk of lowering US credit rating would increase, becausethere was no agreement on political consensus. At the meantime, Fitch said thatif US can not raise the debt ceiling before August 2, it would be list onnegative list. US would give a stimulus to gold market, but that FederalReserve’s interest rates decision and Bernanke’s interview meeting giveunsolved factors to market, so there is still unsteady trend in gold market.
EUR/USD: Breakthrough the cuneiform pattern. Inter adeclined tendency.
Seen from the technical perspective, the four-hourchart breakthroughs the cuneiform pattern and inters a declined tendency
GBP/USD:Inter the correction stage. Look for the level 1.5960
Seenfrom technical perspective, the four-hour chart inters the correctionstage. Look for the level 1.5960
USD/JAP:Form a two-bottom pattern. Look for the level 80.72
Technicalspeaking, the four-hour chart forms a two-bottom pattern. Look for the level80.72
USD/CHF: Satisfy theprinciple of leverage superposition. Look for the level 0.8475
Seen fromtechnical perspective, the four-hour chart satisfies theprinciple of leverage superposition. Look for the level 0.8475