Market Outlook July 12th - July 16th

Foreign Exchange

Euro/dollar:
The pair has posted a rebound but stands below its MT declining trend line. SHORT below 1.2750 towards 1.2130 & 1.1750.

Dollar/yen:
The pair has broken below its bearish channel lower boundary and remains under pressure as the RSI is badly directed. SHORT @ 89.80 with 85 or even 83 in sight.



Company preview
 
Intel (USD 20.24 ; 5.14% ; INTC ; INTC.O)
On Tuesday, Intel is expected to deliver 2Q EPS of $0.43 compared to $0.2 a year earlier on sales of $10.2bln vs $8bln.Recently, Infineon Technologies could reach a deal to sell its mobile-chip unit to the Co for $1.4bln. From a technical view, the stock bounced off from a MT support level around $19 last week. Nevertheless, the price is still capped by a major downside resistance since last April. Below $21.2, look for a pullback to $19 and even to $18 as possible ...