Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the daily chart, there is a new descending correctional wave after a divergence on MACD. After failing to reach 23.6%% fibo at 0.7415, the asset has corrected. The next downside targets may be 38.2% and 50.0% fibo at 0.7052 and 0.6757 respectively. The resistance is the high at 0.8007.

The H4 chart of AUDUSD shows a correctional uptrend after the previous descending wave, which has already reached 23,6% fibo and may later continue towards 38.2% and 50.0% fibo at 0.7636 and 0.7684 respectively. After completing the correction, AUDUSD may resume falling to break the support at 0.7478 and then continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 0.7395 and 0.7311 respectively. The local resistance is at 0.7891.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the daily chart, USDCAD is moving upwards after a convergence on MACD to reach 23.6%, 38.2%, 50.0%, 61.8%, and 76.0% fibo at 1.2636, 1.3023, 1.3336, 1.3649, and 1.4028 respectively. At the same time, there is a possibility that the price may break the low at 1.2007 and then continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1068 and 1.0450 respectively.

The H4 chart shows a descending correction after the previous ascending impulse. The pair is heading towards 50.0% and 61.8% fibo at 1.2247 and 1.2190 respectively. After the pullback is over, the asset may resume growing to break the high at a.2487 and then reach 76.0% fibo and the fractal at 1.2499 and 1.2654 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.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is forming a new consolidation range around 1.1919. Possibly, today the pair may expand the range up to 1.1991 and then resume falling to break 1.1850. After that, the instrument may continue trading downwards with the target at 1.1800.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.3930. Today, the pair may fall towards 1.3866 and then form one more ascending structure to reach 1.4073. Later, the market may resume trading downwards with the target at 1.3760.

USDRUB, “US Dollar vs Russian Ruble”

After completing the descending structure at 72.15, USDRUB is expected to consolidate above this level. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 72.00 or even reach 71.00; if to the upside – start another correction towards 72.80 and then fall to reach the above-mentioned target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating above 110.66. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 111.44; if to the downside – start another correction towards 110.40 or even reach 109.40 and then resume growing to reach the above-mentioned target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9180. If later the price breaks this range to the downside, the market may correct towards 0.9127; if to the upside – start another growth with the target at 0.9340 or even reach 0.9400.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading upwards. Possibly, the pair may complete the correction by reaching 0.7666. Later, the market may start another decline with the target at 0.7404.

BRENT

Brent has formed the consolidation range above 74.74. If the price breaks this range to the downside, the market may correct towards 74.00 and then form one more ascending structure with the target at 78.00; if to the upside – resume growing to reach 76.70.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating above 1777.77 without any particular direction. Possibly, the metal may break the range to the downside and fall with the target at 1750.70. Otherwise, the market may correct towards 1833.20 and then resume trading downwards to reach the above-mentioned target. After that, the instrument may form one more ascending structure towards 1840.00.

S&P 500

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

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: 1.1926
• Prev Close: 1.1931
• % chg. over the last day: +0.04%

The EUR/USD currency pair formed a narrow flat. Compared to the previous day, the situation is almost unchanged. German IFO data showed that the business climate in Europe’s largest economy is improving, and the economy is recovering from the pandemic.

Trading recommendations

• Support levels: 1.1920, 1.1835, 1.1809
• Resistance levels: 1.2002, 1.2050, 1.2109, 1.2144, 1.2174, 1.2212, 1.2243

The price is trading above the level of 1.1920 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 2021.06.25:

• – US Core PCE Price Index (m/m) at 15:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3958
• Prev Close: 1.3920
• % chg. over the last day: -0.27%

The GBP/USD currency pair declined slightly by the end of the day. Yesterday, the Bank of England reported on its monetary policy. As expected, the interest rate remained unchanged. But due to the growing number of cases of new Delta coronavirus (up 40% only yesterday), investors are cautious about the prospects of the British economy.

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 has returned to the moving average, while the MACD indicator has become inactive. 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: 110.94
• Prev Close: 110.87
• % chg. over the last day: -0.06%

The USD/JPY currency pair formed a trading corridor with the 110.73-111.09 range. Manufacturing activity in Japan has fallen to its lowest level in 4 months. The economic slowdown in Japan continues, but the inflation rate remains at a very low level. The fundamental picture remains mixed as both the dollar index and the Japanese yen are showing weakness at the moment.

Trading recommendations

• Support levels: 110.73, 110.47, 110.23, 109.83, 109.62, 109.31
• Resistance levels: 111.09, 111.48

The trend remains bullish. The price is trading above the moving average. The MACD indicator has become inactive. Under such market conditions, traders are better to look for both buy trades from support levels and sell trades from resistance levels, but only on lower timeframes.

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

News feed for 2021.06.25:

• – Tokyo Core CPI (m/m) at 02:30 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2303
• Prev Close: 1.2320
• % chg. over the last day: +0.14%

The USD/CAD currency pair remained at the same level as yesterday. Now the instrument is beginning to form a flat. 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: 1.2321, 1.2251, 1.2190, 1,2148 1.2121, 1.2096
• Resistance levels: 1.2404, 1.2478, 1.2519

Technically, the trend remains bullish. Now the price is trading near the moving average, and the MACD indicator has become inactive. 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.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the asset continues testing 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 correctional impulse continues. By now, NZDUSD has formed several reversal patterns, such as Inverted Hammer, close to the support level. At the moment, the pair is reversing and may later grow towards the resistance area at 0.7117. After testing this level, the asset may rebound and resume moving downwards. However, an alternative scenario implies that the price may continue falling towards 0.6965 without testing the resistance area.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is correcting within the downtrend. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair may reverse and start a new pullback. In this case, the correctional target may be the resistance level at 1.4030. After testing it, the market may rebound and resume falling with the target at 1.3855.

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”

After finishing another correction at 1.1960, EURUSD is forming a new descending structure to break 1.1870 and may later continue falling with the short-term target at 1.1795. After that, the instrument may start another growth towards 1.1940 and then resume trading downwards to reach 1.1660.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed another correction at 1.4000; right now, it is falling to break 1.3939. Later, the market may continue trading downwards with the target at 1.3760.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending structure at 72.35. Today, the pair may correct towards 72.88 and then fall to break 72.20. After that, the instrument may start another decline with the target at 71.00.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 111.00 along with the correction towards 110.66, USDJPY is growing to beak the high of this range. Possibly, the pair may continue trading upwards with the target at 111.44.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the correction at 0.9150. Today, the pair may grow to break 0.9235 and then continue moving upwards with the target at 0.9400.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the correction at 0.7580, AUDUSD is expected to form a new descending structure towards 0.7404. Later, the market may start another growth to reach 0.7560 and then resume trading downwards with the short-term target at 0.7340.

BRENT

After completing the ascending structure at 75.25 along with the correction towards 74.44, Brent is expected to resume growing to reach 76.70. Later, the market may correct to return to 74.44 and then start another growth with the target at 78.10.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1777.77 without any particular direction. Possibly, the metal may break the range to the downside and fall with the target at 1750.70. Otherwise, the market may correct towards 1833.20 and then resume trading downwards to reach the above-mentioned target.

S&P 500

The S&P index is still consolidating below 4262.6. Possibly, today the asset may move upwards with the short-term target at 4303.3. Later, the market may correct towards 4166.1 and then form one more ascending structure to reach 4400.0.

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: 1.1939
• Prev Close: 1.1926
• % chg. over the last day: -0.11%

The EUR/USD currency pair is slowly correcting higher. The Manufacturing Purchasing Managers’ Index in Western Europe is growing, which indicates a gradual improvement in the economic climate. At the moment, the fundamental picture plays in favor of strengthening the European currency.

Trading recommendations

• Support levels: 1.1920, 1.1835, 1.1809
• Resistance levels: 1.2002, 1.2050, 1.2109, 1.2144, 1.2174, 1.2212, 1.2243

The price is trading above the level of 1.1920 but below the moving average line. The MACD indicator is inactive again. 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 through the 1.2144 resistance level and fixes above, the general uptrend is likely to resume.

News feed for 2021.06.24:

• – Germany Ifo Business Climate Index (m/m) at 11:00 (GMT+3);
• – US Core Durable Goods Orders (m/m) at 15:30 (GMT+3);
• – US Final GDP (q/q) at 15:30 (GMT+3);
• – US Initial Jobless Claims (w/w) at 15:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3944
• Prev Close: 1.3961
• % chg. over the last day: +0.17%

The UK economy continues to gain momentum. Inflation in the UK equals 2.1%. This indicator is ahead of the central bank’s target, so the Bank of England is likely to keep the monetary policy and interest rate unchanged today.

Trading recommendations

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

The GBP/USD trend is bearish on the H1 timeframe. However, the price has returned to the moving average, while the MACD indicator has become inactive. 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. Volatility will be higher today.

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 2021.06.24:

• – UK BoE Interest Rate Decision (m/m) at 14:00 (GMT+3);
• – UK Monetary Policy Statement at 14:00 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 110.59
• Prev Close: 110.95
• % chg. over the last day: +0.32%

The USD/JPY currency pair gained 0.32% yesterday. But now, the price has reached a strong resistance level, which sellers are actively defending. The fundamental picture remains mixed, as both currencies show weakness.

Trading recommendations

• Support levels: 110.73, 110.47, 110.23, 109.83, 109.62, 109.31
• Resistance levels: 111.09, 111.48

The trend remains bullish. The price is trading above the moving average. The MACD indicator is in the positive zone, but there are the first signs of divergence and sellers’ reaction to resistance levels. Under such market conditions, traders are better to look for both buy trades from support levels and sell trades from resistance levels, but only on lower timeframes.

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: 1.2306
• Prev Close: 1.2303
• % chg. over the last day: -0.02%

The USD/CAD currency pair remained at the same price levels as yesterday. Now the instrument is beginning to form a flat. 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: 1.2321, 1.2251, 1.2190, 1,2148 1.2121, 1.2096
• Resistance levels: 1.2404, 1.2478, 1.2519

Technically, the trend remains bullish. Now the price is trading near the moving average, and the MACD indicator has become inactive. Under such market conditions, it is best to trade on the lower timeframes. Buyers may look for trades from support levels. There are no optimal entry points for sales 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 Orbex

USDCAD retreats for support

The Canadian dollar strengthened after retail sales.

The pair had exhibited a bearish RSI divergence, a sign of overextension after the greenback’s breakneck surge. The break below 1.2350 shows a lack of further commitment from buyers and confirms the bearish MA cross.

The RSI is bouncing back from an oversold situation. 1.2260 might be a temporary support. Then 1.2155 is a major level to keep the rebound relevant.

On the upside, the rally may only resume if the bulls succeed in pushing back above 1.2400.

NZDUSD rebounds after bullish MA cross

The US dollar licks wounds after the Fed warned that the recovery will need more time before tapering.

The kiwi’s drop below 0.6950, a critical support from the daily timeframe, is a sign of prolonged consolidation in the coming weeks. An oversold daily RSI points to a rebound in the short term.

The pair has bounced above the psychological level of 0.7000. This comes as a confirmation of the RSI’s divergence and the bullish MA cross. 0.7100 is the next target. 0.6960 is the immediate support in case of a pullback.

USOIL rallies along rising trendline

Oil rises as falling EIA crude stockpiles point to tighter supply.

After a brief consolidation, the break above 73.00 suggests that the bulls are still in control of price action. Sentiment remains bullish as long as the price stays above the rising trendline. 75.00 would be the next target as momentum traders push up volatility.

The RSI has retreated into the neutral zone. Between 71.10 and 72.00 lies a key demand zone where trend followers are likely to leave a bid.

By Orbex

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after falling and reaching 76.0% fibo, the asset has rebounded to start a new correction to the upside. After completing this pullback, GBPUSD may form another descending wave to break the support at 1.3669 and then continue falling towards 38.2% and 50.0% fibo at 1.3643 and 1.3457 respectively. An alternative scenario implies that the correction may transform into a rising wave to reach 1.4250 and 1.4376 but it’s very unlikely.

The H1 chart shows a correctional uptrend after a convergence on MACD, which has already reached 38.2% fibo and may later continue towards 50.0%and 61.8% fibo at 1.4018 and 1.4073 respectively. The local support is 1.3786, a breakout of which may complete the correction.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, after finishing a quick correctional wave to the downside, which, after breaking 23.6% fibo, failed to reach 38.2% fibo at 129.35, EURJPY has started a new growth that may transform into a proper rising wave. If the asset fails to reach and break the high at 134.12, the pair may start a new decline to break the support at 130.04 and then continue falling towards 38.2% and 50.0% fibo at 129.35 and 127.88 respectively. At the same time, a breakout of the current high will result in a further uptrend towards the post-correctional extension area between 138.2% and 161.8% fibo at 135.67 and 136.64 respectively.

As we can see in the H1 chart, the asset is correcting upwards after a convergence on MACD. It has already reached 50.0% fibo and may later continue growing towards 61.8% and 76.0% fibo at 132.55 and 133.14 respectively. However, the key upside target is the high at 134.12. The support is the low at 130.04.

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

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7006; 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 0.7050 and then resume moving downwards to reach 0.6810. 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 0.7105. In this case, the pair may continue growing towards 0.7195.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1780.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1785.00 and then resume moving downwards to reach 1725.00. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1840.00. In this case, the pair may continue growing towards 1800.00. To confirm further decline, the asset must break the pattern’s downside border and fix below 1755.00.

EURAUD, “Euro vs Australian Dollar”

EURAUD is trading at 1.5810; 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 1.5760 and then resume moving upwards to reach 1.5940. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.5705. In this case, the pair may continue falling towards 1.5610.

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

XAUUSD tests critical daily support

The US dollar catching its breath offers bullions some respite.

Gold is now hovering above May’s low at 1760, an important support from the daily chart. Its breach could invalid the rally from late March.

The bullish RSI divergence indicates that the sell-off may have lost steam in this demand zone. A combination of profit-taking and fresh buying could help the metal recover.

A confirmation would be close above the psychological level of 1800, which would then convince buyers to join in.

USDCHF struggles on high ground

The US dollar softens, as Fed Chairman Jerome Powell insists on not raising interest rates too soon.

The pair has come under pressure near 0.9250, previously a support that has turned into a key resistance. The RSI divergence suggests a loss in the upward momentum and buyers may close out at the first sign of weakness.

0.9170 is the immediate support. Its breach could trigger a 100-pip fall to the next level at 0.9070. A rally above the said resistance may propel the price to above 0.9300.

NAS 100 grinds along bullish trendline

The US tech index shrugged off inflation fear and recovered to an all-time high.

Price action has bounced off of the rising trendline established in late March. This is a strong bullish indication amid sell-offs across equity markets.

The RSI has returned to the neutral area, allowing buyers to accumulate without appearing to overdo it. The Nasdaq has broken above 14220 and may trigger a runaway rally towards 14400 as momentum players stake in. 14080 near the trendline is a key support to monitor.

By Orbex