InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2249
• Prev Close: 1.2192
• % chg. over the last day: -0.46%

On Wednesday, the EUR/USD currency pair decreased by 0.46% and went back to a wide flat. A strong deviation from the average line played a key role. But the fundamental picture is not in favor of the US dollar, so investors are likely to redeem this corrective movement.

Trading recommendations

• Support levels: 1.2168, 1.2138, 1.2115, 1.2074, 1.2026, 1.2002, 1.1957
• Resistance levels: 1.2243, 1.2311

The trend is still bullish. The price is above the priority change level of 1.2168. The MACD indicator has shifted into the negative zone. Under such market conditions, it is better for traders to focus on long positions from the support levels.

Alternative scenario: if the price breaks down through the 1.2168 support level and fixes below, the general uptrend is likely to be broken.

News feed for 2021.05.27:

• – US Prelim GDP (q/q) at 15:30 (GMT+3);
• – US Unemployment Claims (w/w) at 15:30 (GMT+3);
• – US Home Sales (m/m) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.4148
• Prev Close: 1.4116
• % chg. over the last day: -0.22%

The British pound is still trading inside a wide flat with a range of 1.4110-1.4207. At the moment, the price decreased to the lower border of the corridor, but there was no significant reaction from the buyers.

Trading recommendations

• Support levels: 1.4110, 1.4075, 1.3996, 1.3913,1.3835, 1.3801, 1.3756, 1.3690
• Resistance levels: 1.4207

Despite the fact that the price is below the moving average and the MACD indicator is below zero, the trend remains bullish, because the price is above the priority change level of 1.4075. Traders are advised to look for long trades from the lower border of the range, but only after buyers show strong initiative.

Alternative scenario: if the price breaks down through the 1.4075 support level and consolidates below, the bullish 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: 108.74
• Prev Close: 109.14
• % chg. over the last day: +0.37%

On Wednesday, the USD/JPY currency pair broke through and held above the 109.00 upper level of the range, increasing the probability of changing the priority on the H1 timeframe. However, the fundamental indicators play against the dollar index, and considering the high correlation between the US dollar and the Japanese yen, investors expect a further decline in the price.

Trading recommendations

• Support levels: 109.00, 108.66, 108.44, 108.19, 107.77, 107.47, 107.04
• Resistance levels: 109.32, 109.64, 109.95, 110.51

On the H1 timeframe, the trend remains bearish, but the buyers are much more aggressive, so this correction movement may turn into a full trend reversal. Under such market conditions, traders can look for both selling from the resistance levels and buying from the support levels. A test of the 109.00 psychological level is very likely.

Alternative scenario: if the price rises above 109.32, the general uptrend is likely to resume.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2065
• Prev Close: 1.2124
• % chg. over the last day: +0.49%

The USD/CAD currency pair rose by 0.49% by the end of Wednesday. The price broke out of the range and tested the priority change level of 1.2137. The movement was impulsive, and the price held above the moving average.

Trading recommendations

• Support levels: 1.2093, 1.2032, 1.1944
• Resistance levels: 1.2137, 1.2251, 1.2321, 1.2388, 1.2414, 1.2519

At the moment, the price is trading above the moving average, the MACD indicator is in the positive zone, but the price is still below the priority change level of 1.2137. Under such market conditions, traders can work both sides. As the buyer’s pressure is stronger now, it is better to sell from the resistance level after additional confirmations.

Alternative scenario: if the price breaks out through the 1.2137 resistance level and fixes above, a local corrective uptrend is likely to form.

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

By Orbex

USDCHF sinks towards February’s low

The US dollar remains downbeat after Fed officials insisted that interest rates would stay low.

Buyers’ struggle to hold on to 0.8950, the origin of last week’s elusive rebound is an indication of a strong bearish bias. The psychological level of 0.9000 has capped the greenback’s advance after it turned into a resistance from a support previously.

An oversold RSI may prompt a brief bounce only to meet selling pressure ahead. February’s low at 0.8870 would be the next stop if the price falls below 0.8830.

AUDUSD holds above major support

The Australian dollar climbs as risk sentiment makes a timid return. The price action has so far met bids in the demand area around 0.7700, which is also a key support on the daily chart.

The general direction remains bullish as long as buyers succeed in holding this level. 0.7810 is the hurdle ahead after a failed attempt to break out last week.

Renewed momentum could put 0.7890 within reach. On the downside, a drop below 0.7700 may send the Aussie towards 0.7600.

SPX 500 recovers towards peak

The US index inches up as Treasury yields make a retreat. The rebound has clawed back most of the previous losses.

The peak at 4245 may see strong selling interest as a combination of profit-taking and fresh selling. A repeatedly overbought RSI could weigh on the intraday price action.

4150 is the immediate support in case of a pullback.

On the upside, a bullish close above 4245 would resume the uptrend after two weeks of consolidation. Interest from momentum buyers could push the index to 4300.

By Orbex

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the sideways tendency continues. After forming several reversal patterns, including Hammer, close to the support area, USDCAD may reverse and start a new correction towards 1.2180. After testing this level, the price may rebound and resume its descending tendency. However, an alternative scenario implies that the asset may fall to reach the support area at 1.1990 without any corrections.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Harami and Hammer, not far from the support level. At the moment, the asset is reversing in favor of the ascending tendency. In this case, the upside target may be the resistance area at 0.7850. At the same time, an opposite scenario implies that the price may fall towards the support level at 0.7740, rebound from it, and then resume trading upwards.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset is still testing the support area, where it has formed an Engulfing reversal pattern. At the moment, USDCHF may reverse and start a new pullback. In this case, the correctional target may be the resistance level at 0.9010. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8900 without reversing and correcting.

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

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the pair is consolidating between the high (1.4241) and 76.0% fibo after a divergence on MACD. In this case, GBPUSD is expected to break the high and continue growing towards the long-term high at 1.4376. An alternative scenario implies that the price may rebound from the high and extend the correction to 61.8% fibo, which may act as the local support here.

The H1 chart shows a more detailed structure of the current consolidation range after a divergence on MACD. The chart also shows correctional targets, which may be reached after the price breaks the downside border of the above-mentioned range – 23.6% and 38.2% fibo at 1.4101 and 1.4018 respectively. the local resistance is the high at 1.4234.

EURJPY, “Euro vs. Japanese Yen”

In the daily chart, after breaking 76.0% fibo, EURJPY is still trading upwards to reach its key high at 137.50. At the same time, a divergence on MACD may hint at a possible descending correction after the price reaches its target. The short-term target of this correction may be the support at 61.8% fibo (128.66). If the instrument breaks this level, is may form a new descending impulse towards the low at 114.40.

The H4 chart shows possible correctional targets after a divergence on MACD – 23.6%, 38.2%, 50.0%, and 61.8% fibo at 133.74, 131.45, 129.57, and 127.69 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 JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2215
• Prev Close: 1.2251
• % chg. over the last day: +0.29%

On Tuesday, the EUR/USD currency pair updated its 4-month high. The price broke out and held above the 1.2243 upper border of the range. The breakout occurred on an impulsive move, and then the price tested this level from the opposite side. This is a good sign of the trend’s continuation. The German business activity statistics released yesterday were positive. The Eurozone economy is gradually recovering after the pandemic.

Trading recommendations

• Support levels: 1.2243, 1.2168, 1.2138, 1.2115, 1.2074, 1.2026, 1.2002, 1.1957
• Resistance levels: 1.2311

The trend is still bullish. The price is above the change priority level of 1.2138 and above the moving average. But there is a strong deviation from the average, and the MACD indicator is showing a hidden divergence. Under such market conditions, traders can look for both buying from the support levels and selling with short targets in case of a correction.

Alternative scenario: if the price breaks through the 1.2168 support level and fixes below, the general uptrend is likely to be broken.

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.4147
• Prev Close: 1.4184
• % chg. over the last day: +0.26%

The British pound was unable to break out from its range unlike the euro. The price is still trading in the middle of a wide flat with a range of 1.4110-1.4207. The euro looks stronger.

Trading recommendations

• Support levels: 1.4110, 1.4075, 1.3996, 1.3913,1.3835, 1.3801, 1.3756, 1.3690
• Resistance levels: 1.4207

The trend remains bullish. The price is above the moving average. The MACD indicator is still inactive. It is recommended for traders to look for long positions from the lower border of the range or look for sell positions from the resistance level of 1.4207, where sellers hold the defense well.

Alternative scenario: if the price breaks through the 1.4075 support level and consolidates below, the bullish 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: 108.71
• Prev Close: 108.77
• % chg. over the last day: +0.05%

The USD/JPY currency pair has formed a flat with a range of 108.66-109.00. At the moment, the price is in the middle of this corridor, which complicates the search for good entry points.

Trading recommendations

• Support levels: 108.66, 108.44, 108.19, 107.77, 107.47, 107.04
• Resistance levels: 109.00, 109.40, 109.64, 109.95, 110.51

On the H1 timeframe, the trend remains bearish, and the price is trading below the moving average. The MACD indicator is still inactive. Under such market conditions, traders are better to look for sell positions from the resistance levels. It is also possible to consider long positions, but only within an uptrend on the lower timeframes.

Alternative scenario: if the price rises above 109.40, the general uptrend is likely to resume.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2043
• Prev Close: 1.2062
• % chg. over the last day: +0.15%

The USD/CAD currency pair is still trading in a narrow flat, with sellers slowly moving the price down to the lower border of 1.2032. Considering the background of the dollar index fall, the downtrend may strengthen again.

Trading recommendations

• Support levels: 1.2032, 1.1944
• Resistance levels: 1.2093, 1.2137, 1.2251, 1.2321, 1.2388, 1.2414, 1.2519

The price is trading below the moving average, and the trend remains bearish. The MACD indicator has become inactive. At the moment, the best strategy for the USD/CAD currency pair is to wait. It is possible to sell within the trend, if the price consolidates below the support level of 1.2032 again. It is too early to look for long positions, since there is no significant initiative from the buyers.

Alternative scenario: if the price breaks out through the 1.2137 resistance level and fixes above, a local corrective uptrend is likely to form.

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 JustForex

Yesterday, the Fed vice chairman, Richard Clarida, said that the US central bank will be able to overcome an inflation sharp rise while maintaining the current course of economic recovery. The dollar index fell by 0.17% on this news and is near its yearly lows. The US stock indices corrected a little bit yesterday: the S&P 500 index decreased by 0.21%, the Dow Jones Industrials lost 0.24% and the Nasdaq decreased by 0.03%.

Macro statistics for Germany were released yesterday. The economy contracted by 1.8% in the first quarter of 2021, but the business activity index rose to its highest level in 2 years. On the back of this news, German DAX jumped by 0.18% to its highest level. Meanwhile, the rest of the European stock indices showed mixed dynamics on Tuesday. British FTSE 100 decreased by -0.31%, French CAC 40 lost 0.28% and Spanish IBEX 35 increased by 0.03%.

Oil prices are down slightly as investors have concerns that a possible resumption of supplies from Iran will oversaturate the market, despite expectations of increased demand for fuel in the US, which an inventory report will be released today.

Thanks to the declining US Treasury yields and stable monetary policy from the Fed, gold prices continue to move up rapidly. On Tuesday, the price of gold added another 1% to its highest level since early January this year.

As the dollar index is falling, Asian markets are rising too. The broadest index of Asia-Pacific shares outside of Japan, the MSCI, rose by 0.28% to a two-week price high, while Japan’s Nikkei added 0.27%. The Central Bank of New Zealand has reported on monetary policy and said it intends to raise interest rates by September next year. Along with Canada and Norway, this is the 3rd country that is ready to tighten monetary policy.

Main market quotes:

S&P 500 (F) 4,188.13 -8.92 (-0.21%)

Dow Jones 34,312.46 -81.52 (-0.24%)

DAX 15,465.59 +27.58 (+0.18%)

FTSE 100 7,029.79 -21.80 (-0.31%)

USD Index 89.69 -0.15 (-0.17%)

• – New Zealand RBNZ Monetary Policy Statement (q/q) at 05:00 (GMT+3);
• – New Zealand RBNZ Press Conference at 06:00 (GMT+3);
• – US Crude Oil Reserves (w/w) at 17:30 (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

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the instrument continues growing. After forming several reversal patterns, such as Harami, close to the support level during the pullback, XAUUSD is reversing and may later continue trading upwards to reach the resistance area at 1895.00. At the same time, an opposite scenario implies that the price may continue the pullback to reach 1855.00 before resuming its growth.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the ascending impulse continues. By now, NZDUSD has formed several reversal patterns, such as Inverted Hammer, close to the support level. The pattern materialization target may be the resistance area at 0.7270. Later, the price may test the area, break it, and continue moving upwards. However, an alternative scenario implies that the price may return to 0.7170 before resuming its ascending tendency.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the uptrend continues. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the support area. At the moment, the pair may reverse in favor of further growth. In this case, the next upside target after the pullback may be at 1.4250. Later, the instrument may break the resistance level and boost its ascending tendency. Still, there might be an alternative scenario, according to which the asset may correct towards 1.4100 before resuming the ascending tendency.

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

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to continue moving upwards and reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 8/8 from the H4 chart.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. In this case, the instrument may fall towards the support at 5/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.

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.