InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1926
• Prev Close: 1.1896
• % chg. over the last day: -0.25%

The situation with the EUR/USD currency pair remains mixed, with a slight advantage in favor of the euro. The consumer price index data will be published in Europe today. This is the most important indicator of inflation. If the data is worse than expected, it may negatively impact the European currency and lead to a decrease in the EUR/USD quotes.

Trading recommendations

• Support levels: 1.1835, 1.1809
• Resistance levels: 1.1911, 1.1973, 1.2002, 1.2050, 1.2109, 1.2144, 1.2174, 1.2212

The trend is still bearish, with sellers’ pressure gaining strength again. The price managed to break down through the support level of 1.1911. The MACD indicator is inactive. Under such market conditions, traders are better to look for sell trades from resistance levels. There is no optimal entry point for long positions on the H1 timeframe now.

Alternative scenario: if the price breaks out through the 1.2144 resistance level and fixes above, the general uptrend is likely to resume.

News feed for 2021.06.30:

• – German Unemployment Rate (m/m) at 10:55 (GMT+3);
• – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
• – US ADP Non-Farm Employment Change at 15:15 (GMT+3);
• – US Chicago PMI (m/m) at 16:45 (GMT+3);
• – US Pending Home Sales (m/m) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3879
• Prev Close: 1.3841
• % chg. over the last day: -0.27%

The fundamental picture in the UK has not changed. Coronavirus restrictions in the United Kingdom are still holding back business activity in various sectors of the economy. Given that the dollar index remains unchanged, the situation is not in favor of the British pound. The quarterly GDP data is expected today.

Trading recommendations

• Support levels: 1.3835, 1.3801, 1.3767
• Resistance levels: 1.3931, 1.4002, 1.4075, 1.4101, 1.4138, 1.4191

The GBP/USD trend is bearish on the H1 timeframe. The price is trading near the moving average, while the MACD indicator is inactive again. Under such market conditions, traders are better to look for both sell trades from the resistance levels and buy trades from the support levels on the intraday timeframes.

Alternative scenario: if the price breaks out through the 1.4101 resistance level and consolidates above, the bearish scenario is likely to be canceled.

News feed for 2021.06.30:

• – UK GDP (q/q) at 09:00 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 110.63
• Prev Close: 110.54
• % chg. over the last day: -0.08%

The USD/JPY currency pair is trading in a narrow price range ahead of the support level of 110.47. Such price behavior usually occurs before a breakdown. The fundamental background remains mixed, as both the dollar index and the Japanese yen show weakness.

Trading recommendations

• Support levels: 110.47, 110.23, 109.83, 109.62, 109.31
• Resistance levels: 110.82, 111.09, 111.48

The trend remains bullish. The price is trading at the moving average level, and the MACD indicator is in the negative zone. Under such market conditions, traders are better to look for buy trades from support levels, but only after the buyers’ initiative appears. Sell positions can be considered on intraday timeframes after the breakdown of the 110.47 support level.

Alternative scenario: if the price falls below 109.83, the general downtrend is likely to resume.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2331
• Prev Close: 1.2400
• % chg. over the last day: +0.56%

The USD/CAD currency pair is slowly but steadily growing. The Canadian dollar is a commodity currency and correlates with oil prices. Oil prices corrected for the last 2 days, which led to a slight weakening of the Canadian currency. The price has reached the resistance level of 1.2404, so a pullback is possible.

Trading recommendations

• Support levels: 1.2347, 1.2312, 1.2251, 1.2190, 1,2148 1.2121, 1.2096
• Resistance levels: 1.2404, 1.2478, 1.2519

Technically, the trend remains bullish. The price is trading above the moving average, and the MACD indicator is in the positive zone with no signs of reversal. Under such market conditions, it is best to trade on the lower timeframes. Buyers may look for buy trades from support levels. Traders can look for entry points on intraday timeframes for sell positions, but only with short targets because it is trading against the trend.

Alternative scenario: if the price breaks down through the 1.2190 support level and fixes below, the downtrend is likely to be resumed.

News feed for 2021.06.30:

• – Canada GDP (m/m) at 15:30 (GMT+3).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By Orbex

USDJPY struggles to clear offers

The Japanese yen bounces back after a rise in April’s retail trade figure, while the US dollar struggles to consolidate its gains above the psychological level of 111.00.

Yesterday’s bullish momentum above 110.85 has faded. This suggests a lack of commitment from the buy-side. Short-term price action could become vulnerable if 110.40 fails to hold. The pair may retest 109.80 should that happen.

Otherwise, by lifting offers around 111.10 the bulls could expect a runaway rally towards February 2020’s peak at 112.00.

AUDUSD seeks support

The Australian dollar pulls back as risk appetite abates earlier this week. The pair has met resistance at 0.7610, previously a demand zone now turned into a supply zone.

Sentiment remains mixed after the mid-June sell-off. Indeed, buyers are likely to test the water before committing themselves.

The Aussie may seek support at 0.7540. Further down, 0.7500 is a critical level to keep the rebound relevant. On the upside, a break above 0.7610 may attract momentum players and open the path towards 0.7700.

GER 30 awaits breakout

The Dax 30 inches up, thanks to the support from last week’s recovery momentum.

Price action has spent the past week consolidating gains after a V-shaped rebound. The narrowing range indicates stiff pressure from both sides and a breakout would dictate the direction for the days to come.

The bulls are striving to push back to the previous high at 15800. Then the psychological all-time high of 16000 would be within reach. On the downside, a drop below 15500 would prolong the correction to 15400.

By Orbex

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the asset continues moving sideways not far from the support level, where it has formed several reversal patterns, such as Harami. At the moment, XAUUSD may reverse and start a new decline to reach the support area at 1746.50. At the same time, an opposite scenario implies that the price may correct towards 1795.00 before resuming the descending tendency.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the descending tendency continues. By now, NZDUSD has formed several reversal patterns, such as Engulfing, close to the resistance level. At the moment, the pair is reversing and may later fall towards the support area at 0.6965. After testing this level, the asset may break it and continue moving downwards. However, an alternative scenario implies that the price may correct towards 0.7117 and then resume falling.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is forming another correction within the downtrend. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the support area. At the moment, the pair may reverse and start a new pullback towards the channel’s upside border. In this case, the correctional target may be the resistance level at 1.3960. After testing it, the market may rebound and resume falling with the target at 1.3785.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1930. Possibly, the pair may continue correcting downwards to reach 1.1890. After that, the instrument may start another growth with the target at 1.1986.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still correcting to reach 1.3855 and may later form one more ascending structure towards 1.3965. after that, the instrument may break thins level and continue trading upwards with the target at 1.4080.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 72.35. Today, the pair may expand the range down to 71.87 and then start another growth to return to 72.35. Later, the market may form a new descending structure with the target at 71.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has formed the consolidation range abound 110.64; right now, it is trading below this level. Possibly, today the pair may fall to reach 110.35. Later, the market may form one more ascending structure to break 110.90 and then continue trading upwards with the target at 111.44.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9191. Today, the pair may grow to break 0.9245 and then continue moving upwards with the target at 0.9400.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still falling to break 0.7514 and may later continue trading downwards with the target at 0.7411. After that, the instrument may form one more ascending structure to reach 0.7666.

BRENT

After finishing the descending structure at 74.31 and then forming a new consolidation range around this level, Brent has broken it to the downside and may continue the correction towards 72.90. After that, the instrument may return to 74.31, thus forming another consolidation range. If later the price breaks this range to the downside at 72.90, the market may continue the correction towards 71.00; if to the upside at 74.31 – resume trading upwards with the target at 78.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1777.70. Possibly, the metal may grow to break 1796.55 and then continue trading upwards with the target at 1833.30. On the other hand, if the price falls and breaks 1767.00, the market may expand the range down to 1753.00 and then resume growing to reach the above-mentioned target.

S&P 500

The S&P index is still growing towards 4303.3. Later, the market may fall to reach 4239.1 and then form one more ascending structure with the target at 4339.0. After that, the instrument may correct downwards to reach 4166.1.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1931
• Prev Close: 1.1924
• % chg. over the last day: -0.06%

The EUR/USD currency pair situation is now becoming mixed, with a slight advantage in favor of a stronger euro. The ECB printed more euro, increasing the money supply (liquidity) in the EU countries, which is a negative factor for the euro. On the other hand, the dollar index is still in the same place. As a result, the EUR/USD currency pair is consolidating in a range.

Trading recommendations

• Support levels: 1.1911, 1.1835, 1.1809
• Resistance levels: 1.1973, 1.2002, 1.2050, 1.2109, 1.2144, 1.2174, 1.2212

The price is trading above the level of 1.1911 but below the moving average line. The MACD indicator is inactive. The trend is still bearish, but sellers’ pressure is weak. Under such market conditions, traders can look for both sell trades from resistance levels and buy trades from support levels with short targets.

Alternative scenario: if the price breaks out through the 1.2144 resistance level and fixes above, the general uptrend is likely to resume.

News feed for 2021.06.29:

• – ECB President Christine Lagarde Speaks at 16:40 (GMT+3);
• – US CB Consumer Confidence (m/m) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3911
• Prev Close: 1.3877
• % chg. over the last day: -0.24%

The GBP/USD currency pair continues to decline slowly. Coronavirus restrictions in the United Kingdom are still holding back business activity in various sectors of the economy. Given that the dollar index remains unchanged, the situation is not in favor of the British pound. However, the UK Prime Minister Boris Johnson remains confident that the country would be able to fully re-open in July as planned.

Trading recommendations

• Support levels: 1.3835, 1.3801, 1.3767
• Resistance levels: 1.3931, 1.4002, 1.4075, 1.4101, 1.4138, 1.4191

The GBP/USD trend is bearish on the H1 timeframe. The price is trading near the moving average, while the MACD indicator is in the negative zone but with signs of a reversal. Under such market conditions, traders are better to look for both sell trades from the resistance levels and buy trades from the support levels on the intraday timeframes.

Alternative scenario: if the price breaks out through the 1.4101 resistance level and consolidates above, the bearish scenario is likely to be canceled.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 110.76
• Prev Close: 110.61
• % chg. over the last day: -0.13%

Yesterday, the USD/JPY currency pair tried to hold above the resistance level of 110.82, but sellers returned the price to its previous level, forming a false breakout zone. As a result, the price corrected again to the moving average line and to the nearest support level, where the buyers manage to keep the pressure of sellers. Japan’s unemployment rate increased from 2.8% to 3% in May, the highest rate in the last 5 months.

Trading recommendations

• Support levels: 110.47, 110.23, 109.83, 109.62, 109.31
• Resistance levels: 110.82, 111.09, 111.48

The trend remains bullish. The price is trading at the level of the moving average, and the MACD indicator is in the negative zone. Under such market conditions, traders are better to look for buy trades from support levels. Sell positions can be considered on intraday timeframes after the breakdown of the 110.47 support level.

Alternative scenario: if the price falls below 109.83, the general downtrend is likely to resume.

News feed for 2021.06.29:

• – Japan Unemployment Rate (m/m) at 02:30 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2291
• Prev Close: 1.2338
• % chg. over the last day: +0.38%

The USD/CAD currency pair is still trading in a narrow price range, but there are the first signs of initiative from the buyers. The 1.2312 resistance level was broken, and now it is important not to let the price fall below this point. The fundamental background remains mixed, with a slight advantage to the strengthening of the Canadian dollar, i.e., the fall of USD/CAD quotes.

Trading recommendations

• Support levels: 1.2312, 1.2251, 1.2190, 1,2148 1.2121, 1.2096
• Resistance levels: 1.2404, 1.2478, 1.2519

Technically, the trend remains bullish. The price is trading above the moving average, and the MACD indicator went into the positive area. Under such market conditions, it is best to trade on the lower timeframes. Buyers may look for buy trades from support levels. There are no optimal entry points for sell trades right now.

Alternative scenario: if the price breaks down through the 1.2190 support level and fixes below, the downtrend is likely to be resumed.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1925; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1930 and then resume moving downwards to reach 1.1745. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2045. In this case, the pair may continue growing towards 1.2135.

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 153.82; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 153.50 and then resume moving upwards to reach 156.25. Another signal in favor of a further uptrend will be the formation of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 152.50. In this case, the pair may continue falling towards 151.55. To confirm further growth, the asset must break the resistance level and fix above 155.55, thus completing the above-mentioned pattern.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7588; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7595 and then resume moving downwards to reach 0.7395. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7665. In this case, the pair may continue growing towards 0.7755.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is correcting after finishing a wave to the downside. Possibly, the pair may complete the pullback and resume falling. The previous decline has reached 61.8% fibo, so the next one may reach 76.0% fibo and the low at 1736.33 and 1676.78 respectively. At the same time, a breakout of the resistance at 1916.52 may lead to a further rising movement towards the mid-term targets, which are 61.8% and 76.0% fibo at 1922.95 and 1979.00 respectively but this scenario is rather unlikely.

The H1 chart shows a more detailed structure of the current correction. After testing 23.6% fibo, the pair may continue growing towards 38.2% and 50.0% fibo at 1815.32 and 1832.37 respectively. The support is the low at 1760.83. If the price breaks this level, the asset will complete the correction and resume trading downwards.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trying to finish the correction and start a new rising impulse towards 61.8% and 76.0% fibo at 0.9264 and 0.9342 respectively. The key support is the low at 0.8926.

In the H1 chart, after breaking 23.6% fibo, USDCHF has failed to reach 38.2% fibo at 0.9119. At the same time, a convergence on MACD may hint at a new rising impulse towards the high at 0.9239. On the other hand, if the price forms a new structure to the downside, its targets will be 38.2% and 50.0% fibo at 0.9119 and 0.9083 respectively.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Orbex

The formation of GBPUSD hints at the development of a corrective trend. Most likely, a triple zigzag is currently under construction. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ of the primary degree.

The first four parts of this construction are fully completed. In April, the bulls began to push prices up in the final actionary wave Ⓩ. Most likely, wave Ⓩ will have the structure of a double combination (W)-(X)-(Y) of the intermediate degree.

Waves (W) and (X) have ended and the development of the last bullish wave (Y) has just begun.

It is possible that the price in the wave (Y) will rise to 1.4490, that is, significantly above the maximum of 1.4254. At that level, intermediate wave (Y) will be at 123.6% of wave (W).

An alternative scenario suggests that the market has completed only part of the global triple zigzag, that is wave Ⓨ.

Therefore, we could expect the development of the second intervening wave Ⓧ. This wave could have the internal structure of an intermediate double zigzag (W)-(X)-(Y).

In the near future, market participants could see the end of the intermediate zigzag wave (X). Then the price will continue to fall in the last wave (Y) to 1.3449. At that level, wave Ⓧ will be at 76.4% of wave Ⓨ.

By Orbex