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  • #76
    Technical Market update 10th June

    EUR/USD

    EUR/USD stays pressured around the key level of 1.2180-75 amid the early Asian session on Thursday. The pair refreshed weekly top the previous day before reversing from 1.2218. Recently the pair failed to break the key level of 1.22. The ECB will be announcing its monetary policy decision later in 1945 (GMT+8). A press conference will also be held in 2030 (GMT+8). We can expect the volatility in EUR during this time. The pair is moving towards the support zone of 1.21500 and the next resistance zone is at 1.23200. Look for the buying opportunities of EURUSD if it bounces up from the support zone of 1.21500.GBP/USD

    Recently the pair weakened after the EU threatened to take retaliatory actions on the UK for the latter’s refusal to implement post-Brexit trading arrangements in Northern Ireland. BOE committee member Haldane will be speaking later in 2005 (GMT+8). During this time, we can expect volatility in GBP. Currently, the pair is moving towards the key level of 1.41. Its next support zone is at 1.40000 and the next resistance zone is at 1.43500. Look for short-term selling opportunities of GBPUSD if it breaks below the key level of 1.41. Overall the pair is ranging across.

    AUD/USD

    AUD/USD is trading little changed above the level of 0.7700. The next support zone of the pair is at 0.75500 and the next resistance zone is at 0.78000. The Australian Inflation Expectations data released earlier today indicated an increase in the expectation of future inflation. US-China agrees to push forward trade, investment ties. US treasury yields remain pressured near March lows while the US Dollar trades firmer ahead of the all-important US CPI data. Look for short-term buying opportunities for the pair.

    USD/CAD

    Currently, the pair is testing the resistance zone of 1.21000 and the next support zone will be at 1.19000. During the monetary policy meeting yesterday, the BOC held policy unchanged. The Central Bank acknowledged that economic growth was robust despite the second wave of the COVID virus. The pair is trading flat on the day so far. Nonetheless, the BoC remains optimistic in a strong economic rebound as vaccinations are administered at a faster pace and lockdown restrictions are likely going to be eased. Look for short-term buying opportunities if it breaks the resistance zone of 1.21000.

    Read More : Daily & Weekly Analysis on XtreamForex

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    • #77
      TECHNICAL MARKET ANALYSIS 11th JUNE

      EUR/USD

      EUR/USD pair is modestly up, currently trading in the 1.2190 price zone. The pair recently bounced off the support zone of 1.21500. Day 1 of the G7 meetings will be held today. And day 2 and day 3 will be held on the weekend. The next support zone is at 1.23200. The near-term picture of the pair is neutral-to-bullish, but momentum is still missing. In the 4 hour chart, the pair is still trading within directionless, moving averages. The EUR/USD pair is up but below the 1.2200 figure, with the greenback shedding ground against most of its major rivals. As widely anticipated, the European Central Bank left rates and its easing programs unchanged in its June decision. Look for short-term buying opportunities of EURUSD.

      AUD/USD

      The pair is ranging across. The G7 meeting which will be held today will bring volatility to the market. AUD/USD is holding steady around 0.7750, as a cautious market mood pauses the US dollar’s decline. Most Australian banks will be closed next Monday in observance of the Queen’s Birthday. So expect lower trading volatility and volume during the usual Australian market hours. The next support zone is at 0.75500 and the next resistance zone is at 0.78000. Look for short-term selling opportunities of AUD/USD.

      GBP/USD

      GBP/USD recently bounced up from the key level of 1.41. We can expect volatility during the G7 meeting. The next support zone, the pair is approaching is at 1.40000 and the next resistance zone is at 1.43500. Bank of England Governor Bailey will be speaking later at 1630 (GMT+8), which will bring more volatility to the market. Below 1.4080, the next levels to watch are 1.4055 and 1.4010, which supported the pair in May. Some resistance is at 1.4110, which provided support earlier in the week, and then the recent high of 1.4190. Further above, 1.4220 and 1.4250 await the bulls.

      USD/JPY

      The USD/JPY pair touched the intraday high of 109.79 in the New York session, however failed to sustain this level. The selling pressure on the dollar keeps the pair off the cliff in the initial Asian session. The next support zone is at 108.500 and the next resistance zone is at 110.800. In the near-term scenario, the pair is neutral with the risk skewed to the upside. The 4-hour chart shows that it is developing above directionless moving averages. Further gains are likely on a break above 109.67, bears will likely take over on a break below 108.90. Look for short-term buying opportunities for the pair.

      Read More : Daily & Weekly Analysis on XtreamForex

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      • #78
        Technical Market update 14th June

        EUR/USD

        Recently the pair broke the support zone of 1.21500. Initial bias is now on the downside within the week for 1.1985 support first. Break there’ll confirm that the consolidation pattern from 1.2348 has started the third leg. A deeper fall would then be seen back to 1.1703 support. On the upside, above 1.2265 will resume the rise from 1.1703 to retest 1.2348 high. From the technical point of view we can say, the next support zone will be at 1.19700 and thus subsequent resistance zone is at 1.21500. Look for selling opportunities of EUR/USD.

        GBP/USD

        Recently, GBP/USD trended down into the key level of 1.41. BOE Governor Bailey goes to be speaking later at 2100 (GMT+8), during this point, there could even be volatility in GBP. Currently, the pair is hovering above the key level of 1.41. Its next support zone is at 1.40000 and thus subsequent resistance zone is at 1.43500. Search for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.41.GBP/USD holds lower ground within a monthly trading range. UK government up for a four-week extension to June 21 unlock deadline amid Delta variant fears.

        USD/JPY

        USD/JPY is on the verge of a restest of the 110.00 level. Bulls have pierced the hourly resistance and broken 15-min structure. USD/JPY is on the way to the 110 area because the US dollar continues to firm following Friday’s bullish performance. Overall, USD/JPY is trending upwards. USD/JPY’s next support zone is at 108.500 and therefore the next resistance zone is at 110.800. search for buying opportunities of USD/JPY. Corrective rise from 107.47 could have completed at 110.32 already. Risk will stay the downside, and an opportunity of 109.17 will target 108.55 support first. Break there should indicate that pattern from 110.95 has started the third leg already and target 107.47 support next.

        XAU/USD

        Gold price is bearing the brunt of the persisting upbeat tone seen around the US dollar, as investors flock to the haven before the FOMC decision within the week. gold is trading at weekly lows near $1863, down 0.69% on the day. The yellow metal dropped by over 1% vs the US dollar on Friday with XAU/USD falling from a high of $1,903.12 to a low of $1,874.54. there is a confluence of the prior resistance from back in late January near $1,870. On a test of the globe, the upside is getting to be vulnerable to a correction to the prior lows of 1,884/88 during a mean reversion of the bearish impulse.

        Read More : Daily & Weekly Analysis on XtreamForex

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        • #79
          TECHNICAL UPDATE 15th JUNE

          EUR/USD

          EUR/USD bounced up from the key level of 1.21. USD’s next support zone is at 1.19700 and thus the subsequent resistance zone is at 1.21500. look for selling opportunities of EUR/USD. The EUR/USD pair is marginally higher at the beginning of the week, trading above the 1.2100 thresholds. The EUR/USD pair has limited bullish potential, according to intraday technical readings. The 4-hour chart shows that the pair keeps developing below all of its moving averages. retracement ratio at 1.1986, and therefore the H1 chart showing signs of demand for lower prices before resistance at 1.2132, retesting 1.21 is feasible, from a short-term technical standpoint.

          GBP/USD

          Recently, GBP/USD did not break below the key level of 1.41. Earlier today, UK Prime Minister Boris Johnson delayed the lockdown lifting by four weeks to 19 July. The UK employment data are going to be released later at 1400 (GMT+8). Average Earnings Index 3m/y (Forecast: 4.9%, Previous: 4.0%) Claimant Count Change (Forecast: 25.0K, Previous: -15.1K) Unemployment Rate (Forecast: 4.7%, Previous: 4.8%) Bank of England Governor Bailey are going to be speaking later in 2015 (GMT+8). During this point, there could also be volatility in GBP. Currently, GBP/USD is hovering above the key level of 1.41. Its next support zone is at 1.40000 and therefore the next resistance zone is at 1.43500. Look for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.41.

          USD/CAD

          The Canadian Housing Starts data (Forecast: 271K, Previous: 269K) are getting to be released later in 2015 (GMT+8). USD/CAD’s next support zone is at 1.21000 and thus subsequent resistance zone is at 1.22400. USD/CAD fades late Monday’s bounce off 1.2128 amid Tuesday’s sluggish Asian session. The Loonie pair drops to the intraday low of 1.2137, down 0.05%, during the two-day pullback from the monthly high, flashed on Friday. Though, USD/CAD bulls need a sustained break of 1.2150 to once aim for one-month-old horizontal resistance surrounding 1.2180. during a case where the pair rises past-1.2180, the 1.2200 thresholds and thus the mid-May high near 1.2205 may test the upside momentum before accelerating the run-up towards April’s low near 1.2265. search for buying opportunities of USD/CAD.

          AUD/USD

          Recently, AUD/USD bounced up from the key level of 0.77. The Federal Reserve Bank of Australia (RBA) is going to be releasing the minutes for the previous monetary policy meeting later at 0930 (GMT+8). AUD/USD’s next support zone is at 0.75500 and therefore the next resistance zone is at 0.78000.
          Look for buying opportunities of AUD/USD. AUD/USD remains on the rear foot, down 0.08% while refreshing intraday low to 0.7705, after the RBA minutes reiterate policymakers’ cautious mood during early Tuesday. The Australian dollar has been struggling against the US Dollar lately, riding a trendline from the May swing high lower after briefly surging above the previous resistance level.

          Read More : Daily & Weekly Analysis on XtreamForex

          Comment


          • #80
            Technical Market Analysis 16th June

            EUR/USD

            Generally, EUR/USD is running across. As of late, EUR/USD bobbed off the opposition zone of 1.21500. EUR/USD’s next support zone is at 1.19700 and the following obstruction zone is at 1.21500. Search for momentary selling chances of EUR/USD up until the U.S. FOMC meeting tomorrow at 0200 (GMT+8). The EUR/USD pair exchanges at everyday lows, a couple of pips over the 1.2100 imprint. The close term picture is bearish. The 4-hour outline shows that the pair withdrew from around a bearish 20 SMA, which heads solidly lower underneath the more extended ones.

            GBP/USD

            As of late, GBP/USD broke underneath the critical degree of 1.41. The UK business information delivered yesterday demonstrated a general inspirational perspective in the UK occupations market. The number of individuals guaranteeing joblessness benefits declined rather than a normal increment. As of now, GBP/USD is climbing towards a vital degree of 1.41. Its next help zone is at 1.40000 and the following obstruction zone is at 1.43500. Search for transient selling chances of GBP/USD up until the U.S. FOMC meeting tomorrow at 0200 (GMT+8). While the currency pair stumbled over the 200 Simple Moving Average on the four-hour diagram, energy is just barely to the disadvantage. Bears are in the number one spot, however, bulls may in any case give a battle.

            USD/CAD

            Generally speaking, USD/CAD is moving upwards. As of late, USD/CAD moved up and bobbed down from the vital degree of 1.22. The Canadian Housing Starts information (Actual: 276K, Forecast: 271K, Previous: 267K amended from 269K) delivered yesterday demonstrated an increment in the number of private structures that started development in May.
            Bank of Canada Governor Macklem will be talking tomorrow at 0645 (GMT+8). During this time, there might be unpredictability in CAD.

            USD/CAD’s next to help zone is at 1.21000 and the following opposition zone is at 1.22400. Search for transient purchasing chances of USD/CAD up until the U.S. FOMC meeting tomorrow at 0200 (GMT+8).

            AUD/USD

            Generally speaking, AUD/USD is going across. As of late, AUD/USD broke underneath the vital level of 0.77.
            The Reserve Bank of Australia Governor Lowe will be talking tomorrow at 0810 (GMT+8). During this time, there might be instability in AUD.
            The Australian work information will be delivered tomorrow at 0930 (GMT+8). AUD/USD’s next support zone is at 0.75500 and the following obstruction zone is at 0.78000. Search for transient selling chances of AUD/USD up until the U.S. FOMC meeting tomorrow at 0200 (GMT+8).

            Read More : Daily & Weekly Analysis on XtreamForex

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