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Thursday, June 2nd
USD/JPY rebounded from two-week low witnessed at 108.83 as Nikkei 225 slowed down its falling. Yesterday the pair fell sharply on the back of the latest sales tax hike delay decision made by Prime Minister of Japan Sh. Abe. Also the pair is getting some pressure as risky mood calms down and traders find safe haven in Yen. Today traders will closely watch for ADP Nonfarm Employment Change and Crude Oil Inventories from US, as Japan will release only secondary macro data. At the moment the pair is trading at 109.21, with todays approximate support and resistance levels located at 108.01 and 111.59
EUR/USD is hovering near 1.12 level, retreated from its daily tops. The pair is showing moderate growth, gaining over a cent since yesterdays low at 1.1114 boosted by sell-off sentiments surrounded US currency. Ahead in the session, all attention will be focused on the ECB meeting. Expected that Central Bank will leave the rate flat, but hawkish comments about inflation and its growth projections would activate euro bulls. Currently the pair is trading at 1.1203 down from 1.1214 spot. Todays support and resistance levels for the pair are located at 1.1086 and 1.1244 handles.
USD/CAD is trading mostly unchanged this Thursday. The pair has consolidated near 1.3080 level before key event - OPEC meeting, where key oil issues will be discussed. Also the pair is gaining some support amidst broad-based USD selling with slight increase in oil price. Moreover today the pair will gain sentiments from ADP employment report, Initial Claims and speeches by BoC’s S.Poloz and FOMC members J.Powell, W.Dudley and R.Kaplan. At the moment the pair is trading at 1.3081 with todays support and resistance levels located at 1.2999 and 1.3159 spots.
AUD/USD is trading under bearish pressure this morning below 0.7250 spot despite of better-than-expected trade-balance data. The pair showed positive trend on the back of strong GDP from Australia, but the growth was limited by strengthened dollars positions. Yesterday Australia showed better-than-expected trade balance that boosted the pair to 0.7269 spot, however the spike faded quickly on the back of disappointing Australian Retail Sales that pushed Aussie back in North direction. Today traders will focus on ADP Nonfarm Employment Change and Crude Oil Inventories from US ahead of the key official jobs report scheduled on Friday. At the moment the pair is trading at 0.7218 with todays support and resistance levels located at 0.7189 and 0.7331
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Friday, June 3rd
USD/CAD is trading flat this morning hovering between 1.3090 and 1.310 levels. The pair has lost its positions, moving back from nine-day high scored this Thursday on the back of negative Crude Oil Inventories data from USA. Also the pair was influenced by OPEC meeting in Vienna, where meeting participants didn’t reach an agreement. Today all attention will be focused on NFP from USA, with Unemployment Rate, ISM Non-Manufacturing PMI and Trade Balance from Canada. At the moment the pair is trading at 1.3094 with todays support and resistance levels located at 1.3010 and 1.3186.
EUR/USD is trading modestly flat this morning with slight recovery from this month low after falling below 1.12 level, as ECB Chief M.Draghi made dovish comments after ECB meeting. M.Draghi noticed that consumer price growth would remain low or negative for several months ahead. Today in data calendar series of services PMI reports from the Eurozone regions with main market event of this Friday – NFP are scheduled. Currently the pair is trading at 1.1155, with todays approximate support and resistance levels located at 1.1097 and 1.1245.
GBP/USD keeps bearish mood this morning, testing resistance at 1.44. Pound remains weak this week, as market is still digesting the latest Brexit polls results, which showed strong support in “leave” camp. Also the pair is getting pressure as dollar is strengthening its positions on the back of ECB meeting. Currently market participants are awaiting for Services PMI from Britain with main event of Friday NFP coming later this day. At the moment the pair is trading at 1.4412 with todays support and resistance levels at 1.4362 and 1.4502.
USD/JPY tested two-week low on the back of US jobs data released this Thursday that left mixed sentiment. Also, Yen remains supported by announcement made by Japanese Prime Minister Sh.Abe about sales tax hike delay. As Japanese data calendar is empty for today, traders will closely watch for US Nonfarm Payrolls with Unemployment Rate and ISM Non-Manufacturing PMI ahead today. At the moment the pair is trading at 108.75, with todays low witnessed at 108.50. Todays support and resistance for the pair are located at 107.93 and 110.05 levels.
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Monday, June 6th
GBP/USD has dropped sharply this morning, testing new three-week low at 1.4353 spot. Cable lost all its positions, gained last Friday, as NFP showed unexpectedly low figures, making possible for the pair to grow to 1.4582 level. Now pound is trading below its key resistance level 1.44 unable to break through it as the latest Brexit polls results showed that “leave” voted participants are taking a lead. Today traders will await for a fresh impute from Fed Chair Yellen’s speech scheduled later this day. At the moment the pair is trading at 1.4385 with todays approximate support and resistance levels at 1.4314 and 1.4680 spots.
EUR/USD is trading slightly lower today as the pair is gaining some influence from GBP/USD sharp fall with lower than expected German Factory Orders. The pair managed to jump from two-month lows to three-week high located at 1.1366 spot on the back of disappointing NFP data last Friday. Today traders attention will be focused on Fed Chair J.Yellens speech, expected that despite the weak employment data she will keep hawkish mood during her speech. Currently the pair is trading at 1.1338, with its support and resistance levels at 1.1210 and 1.1447.
USD/CHF is trading modestly flat this morning, in 10 pip narrow range near 0.9770 level. The pair dropped sharply last Friday breaking through its key resistance level at 0.98 on the back of disappointing NFP. Today market participants will await for the Fed Chair J.Yellens speech. Also the pair will gain some influence from broad-based dollars recovery today. At the moment the pair is trading at 0.9700 level with todays support and resistance levels located at 0.9698 and 0.9865 spots.
USD/JPY dropped to nearly month low located at 106.37 last Friday, as US job growth showed sharp slowdown. Now the pair has managed to recover part of its positions breaking through 107 resistance. Today market participants will look forward to Fed Chair J.Yellens comments, ahead in New York session. At the moment the pair is trading at 107.20 spot with todays support and resistance levels located at 105.64 and 108.27.
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Tuesday, June 7th
AUD/USD is extending its rapid growth for the second day this Tuesday. The pair tested five-week high at 0.7431 on the back of RBA’s decision to leave rate unchanged at 1.75% at its monetary policy review meeting. However, leaving rate unchanged was expected. Also RBA noticed that inflation will keep its slow growth for a while. Today the pair will keep its bullish mood as dollar is still weak after disappointing Fridays data, while market participants are still digesting the latest policy outcome form Australia. Meanwhile, today US will introduce only secondary data such as Nonfarm Productivity and Unit Labor Costs that unlikely will change the pairs direction, while Chinese trade figures will provide fresh impetus for the pair. At the moment the pair is trading at 0.7430 with todays support and resistance levels located at 0.7289 and 0.7457.
USD/CAD today trades modestly flat as broad based weakness of the dollar and lower oil prices are keeping the pairs direction uncertain. Today traders will set up their focus on the Canadian Ivey PMI data with coming ahead API Weekly Crude Oil Stock for further momentum. At the moment the pair is trading at 1.2801 testing its key support level at 1.28. Todays approximate support and resistance are located at 1.2687 and 1.3047 spots.
USD/JPY has caught the wave and is moving in north direction for the second day in a row. After Fridays fall on the back of awful NFP report, the pair broke through 107 level and now has managed to recover some positions, as risk-on sentiment is weighing yen. Today the pair will keep its bullish trend, as traders will look forward risky assets. Also US will release Nonfarm Productivity while Japan will introduce GDP figures. At the moment the pair is trading at 107.59, with todays support and resistance levels at 106.70 and 108.49 spots.
GBP/USD unexpectedly spiked through 1.45 and 1.46 resistance levels with no triggers at all. Considered that in the lack of catalyst, such move became possible as big player entered the market. Without any support the spike faded quickly, consolidating part of gained positions just above 1.45 level. With a relatively lighter economic calendar today the pair will gain further sentiments from the latest Brexit polls dynamic as “Remain” voted participants taking a lead again. Also traders will focus today on UK Halifax HPI data and US Nonfarm Productivity. Currently the pair is trading at 1.4523 with todays support and resistance levels located at 1.4365 and 1.4551
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Wednesday, June 8th
GBP/USD seems to be cooled off after yesterdays volatile session. Despite improving risky sentiments, the pair is keeping its bullish mood, as dollar is still weak across the board. Currently traders have taken a break before UK Manufacturing Productions, with coming ahead US Crude Oil Inventories. At the moment the pair is trading at 1.4555 with todays support and resistance levels located at 1.4433 and 1.4656.
EUR/USD is keeping its narrow range just above 1.1330 level since beginning of this week. In light of empty data calendar from Euroland with only Crude Oil Inventories from US and broad based dollars weakness, the pair most likely will reach 1.14 level very soon. At the moment the pair is trading at 1.1363 with support and resistance levels at 1.1317 and 1.1421.
NZD/USD is testing new five-week highs near 0.70 level. Today the pair is trading under bullish pressure on the back of broad based dollars weakness with upcoming RBNZ monetary policy meeting. Expected that after surprising the markets in March by lowering benchmark interest rates, this time RBNZ will leave the rate in flat. Also US will release Crude Oil Inventories later this day. At the moment the pair is trading at 0.6983 back from 0.7005 level. Todays support and resistant levels for the pair are located at 0.6862 and 0.7096.
USD/CAD is testing new monthly lows in the 1.2730 area. Today loonie is trading under bid tone as dollar is still suffering after disappointing NFP with renewed buying pressure of the oil on the back of decreased Weekly Crude Oil Stocks by API released yesterday. Today ahead are Housing Starts and Building Permits from Canada, with Crude Oil Inventories from US. Currently the pair is trading at 1.2737 with todays approximate support and resistance levels located at 1.2666 and 1.2874
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Friday, June 10th
EUR/USD remains under strong bearish pressure as dollar is strengthening its positions and oil price is taking its corrective moves. The pair lost more than cent down from yesterdays multi-week high witnessed at 1.1415 spot to level of 1.13. However the pair got minor support this morning as German CPI showed as expected flat figure. Nothing important is scheduled in Euroland data calendar with Michigan Consumer Sentiment and Federal Budget Balance form US coming later this day. Currently the pair is trading at 1.1302 with todays support and resistance levels at 1.1235 and 1.1455.
NZD/USD has reversed part of gained positions and now is retreating from yearly tops witnessed at 0.7150 after RBNZ has left its interest rates on hold with hawkish comments after. The pair continues its downslide as softer oil prices coupled with strengthening dollars positions after four-day of consecutive down move are pushing the pair in the south direction. Today in light data calendar traders will find only secondary data such as prelim Michigan Consumer Sentiment and Federal Budget Balance of US. At the moment the pair is trading at 0.7099, hovering around 0.71 level for the last couple of hours. Todays support and resistance for the pair are located at 0.6929 and 0.7169.
USD/CAD retreated from its monthly lows marked at the 1.2655 level in the middle of this week on the back of softer oil prices and incipient bid tone around the US currency. However, the pair is still trading above the level of 1.27 as important Canadian releases are getting closer. Today the center stage will take Employment Change data from Canada followed by Michigan Consumer Sentiment and Federal Budget Balance form US. At the moment the pair is trading at 1.2733 with todays support at 1.2623 and resistance at 1.2815 respectively.
GBP/USD is performing downslide as pound is following risk-on sentiment this Friday. Moreover, the pair is staying under pressure as uncertainty surrounded upcoming UK referendum and awakening of the dollar after last Fridays disappointments are forcing bears to take a lead. With light data calendar the pair will be influenced by risk sentiment today with coming ahead Michigan Consumer Sentiment and Federal Budget Balance form US scheduled later this day. At the moment the pair is trading at 1.4437 with todays approximate support and resistance levels located at 1.4395 and 1.4555
Your European ECN-broker,
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Monday, June 13th
EUR/USD has fallen sharply since the last Thursday, losing all gained positions for previous week. However, the shared currency recovered slightly as risk-off sentiments are pushing traders to find safe-haven in EUR. Also EUR has stopped its losing streak as markets are still digesting Orlando bombings happened this weekend. Today without any fundamental release, the pair will follow the market sentiment. Currently the pair is trading almost unchanged towards fresh session high 1.1257. Todays support and resistance levels are located at 1.1196 and 1.1348.
USD/JPY is testing monthly lows, breaking through level of 106 as risk-off sentiment is weighting the pair. Today market participants are digesting the latest news about the weekend’s bombings in Orlando by the terrorist group ISIS, sending the pair to the lows last seen in early May. Also traders are worried about this week upcoming major events such as Fed and BOJ Interest Rate Decisions. Nothing is scheduled in data calendar for today, so risk sentiment will lead the pair during this day. At the moment the pair is trading at the 106.01 spot with todays low marked at 105.74 level. Todays support and resistance levels are located at the 105.49 and 107.60.
GBP/USD is testing two-week lows as pound is highly pressured on the back of the upcoming UK referendum scheduled next week. However, the Brexit is the main event of the next week, this week data calendar for the UK is also full of major releases, such as CPI are due tomorrow, followed by Claimant Count Change on Wednesday, with Retail Sales and Interest Rate Decision on Thursday. Data calendar is quite for today, so the pair will follow developments surrounding the Brexit issue. At the moment the pair is trading at 1.4195 with todays support and resistance levels at 1.4009 and 1.4595.
NZD/USD has reversed half of its gains kept last week and now keeps the downslide move, as the USD bulls are taking the lead over the pair. However, commodity-linked NZD has gained some support in response of the copper price rally. Nothing is scheduled in the data calendar for today, so the pair will gain further momentum from market sentiment during this day. At the moment the pair is trading at the 0.7060 with today support and resistance levels located at 0.6987 and 0.7153.
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Tuesday, June 14th
GBP/USD is trading in bearish trend this morning as UK referendum is coming closer. The pair continues to be heavy weighted as less than 10 days are left till UKs major event. The latest polls results are showing that the leading number of the participants is still based in the “leave” camp. Moreover, today traders will focus on UK CPI figures with coming later Retail Sales data from US. At the moment the pair is trading at 1.4175 with todays support and resistance levels located at 1.4024 and 1.4446.
USD/CHF has recovered slightly from yesterdays dollars sell-off as dollar has stopped its downslide move against its major peers. However, recovery seems to be limited as “Brexit” infuse fear in market pushing traders to find shelter in traditional safe-haven currency such as CHF. Looking ahead, today traders will focus on Swiss PPI and US retail sales data scheduled later this day. At the moment the pair is trading at the 0.9640 with todays support and resistance levels located at 0.9600 and 0.9698 spots.
EUR/USD is trading under the level of 1.13, moving in south direction as dollar is strengthening its positions against its major counterparts. However, the dollars gains will be limited as market participants most likely will leave US currency on hold waiting for Fed Interest Rate Decision scheduled this Wednesday. Also today, markets will look forward to the Industrial Production data from Eurozone with Retail Sales figures from US coming ahead. At the moment the pair is trading 1.1270 accelerating its downslide with todays approximate support and resistance levels located at 1.1203 and 1.1347.
USD/CAD has managed to recover part of its losses and now the pair is trading toward todays high marked at 1.2848 as US dollar is strengthening its positions across the market. Also the pair got minor support as softer crude oil prices weighted Canadian currency versus its American neighbor this Tuesday. Today traders will set up their focus on Retail Sales and API Weekly Crude Oil Stock from US scheduled later this day. Currently the pair is trading at 1.2835 spot with todays support and resistance levels located at 1.2719 and 1.2897 marks.
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Wednesday, June 15th
GBP/USD has recovered slightly after six-day consecutive fall. After visiting nine-week low near area of 1.41 the cable took a break and has recovered part of it losses despite the fact that “Brexit” polls are still showing strong overweight in “leave” camp. Today the center stage will take Fed monetary policy decision due later in the American session. However, volatile session is expected today as UK will introduce Average Earnings coupled with Claimant Count Change followed by US PPI and Crude Oil Inventories. At the moment the pair is trading at 1.4172 with todays approximate support and resistance levels located at 1.3980 and 1.4328.
USD/JPY is failing in attempts to consolidate at daily highs as dollars corrections and eased risk-off sentiment are weighing the pair. Expected that the major will hold on in narrow range, as investors will stay cautious in anticipation of the crucial monetary policy decisions by the Fed and BOJ coming later this day. At the moment the pair is trading at 106.23 with todays support and resistance levels at 105.24 and 107.26.
EUR/USD once again tested daily lows near 1.1190 level. The pair has fallen sharply yesterday as shared currency got negative influence from sentiment surrounded “Brexit”. Moreover, the pair is staying under pressures as dollar has strengthened its positions against its counterparts. Looking ahead, today traders focus will remain on the Fed Interest Rate Decision however, market participants are not expecting rate hike this month. Today Eurozone will release Trade Balance followed by US PPI and Crude Oil Inventories that also will be watched for further momentum. Currently the pair is trading at 1.1212 with todays support and resistance levels located at 1.1120 and 1.1340.
AUD/USD has recovered part of its positions after disappointing Australian Consumer Sentiment data. However, the pair will feel weak today as softer oil prices with lower Asian equities are weighting the pair. Today traders will watch for US PPI and Crude Oil Inventories followed by major event Fed Interest Rate Decision that likely will bring massive volatility to the market. Also Employment Changes from Australia are scheduled later this day. At the moment the pair is trading at 0.7378 with todays support and resistance levels at 0.7249 and 0.7438.
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Thursday, June 16th
USD/JPY reached the lowest levels since Sept 2014 at 104.01 spot. After Fed as well as BOJ left their interest rates unchanged, the pair has found herself under bearish pressure. Today in data calendar traders will find US CPI data and Philadelphia Fed Manufacturing Index scheduled later in the New York session. At the moment the pair is trading around its todays lows at 104.15 meeting strong resistance near 104 level. Todays support and resistance levels are located at 103.33 and 105.94.
GBP/USD has regained bullish trend and now is trading near its daily lows witnessed at 1.4159. Yesterday the pound got a boost from better-than-expected UK employment data, sending the pair over the level of 1.42. But today the pair remains highly pressured as “Brexit” polls results are showing that “leave” voted participants remains on the lead. Moreover, the pound today got extra selling pressure against its US counterpart on the back of sharp drop in pounds cross with yen as BoJ has left its interest rate unchanged. Looking ahead, today traders will set up their focus on BoE interest rate decision, expectedly leaving it unchanged. Also UK will release today Retail Sales followed by US CPI data and Philadelphia Fed Manufacturing Index. At the moment the pair is trading at 1.4175 with todays approximate support and resistance levels located at 1.3994 and 1.4299.
EUR/USD is moving towards 1.13 level, supported by USD weakness. The pair got major support today from the sharp downslide in the USD cross yen responding on BoJ decision to leave the rate unchanged. Also the pair got some bullish moves after slightly dovish FOMC statement released yesterday. Today in data calendar are scheduled ECB Economic Bulletin and Eurozone CPI followed by US CPI with Philadelphia Fed Manufacturing Index. At the moment the pair is trading at 1.1287 with todays support and resistance levels at 1.1141 and 1.1357.
USD/CHF failed to benefit from SNB Interest Rate Decision and spiked level of the 0.96. The pair was heavy weighed this morning on the back of weakened US dollars positions as Fed and BoJ has left their interest rates flat. As expected The Swiss National Bank has kept the interest rate steady today as SNB board members indicated that there is no need in further easing of monetary policy. However, the pair rose sharply after mention that CHF remains significantly overvalued. Today traders will focus on US CPI with Philadelphia Fed Manufacturing Index for further momentum. At the moment the pair is trading at 0.9597 with todays support and resistance levels located at 0.9549 and 0.9695.
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Friday, June 17th
EUR/USD has consolidated recovered position after yesterdays sharp fall. Now the pair is trading in narrow range near 1.1250 area with slight bearish mood. The pair recovered 130 pips on the back of weakened dollars positions as softer US Core CPI data coupled with yesterdays dovish Fed statement continue to weight US currency. Looking ahead, most likely, the pair will follow the market sentiment today as only Building Permits and ECB President M.Draghi Speech will end up this eventful week. At the moment the pair is trading at 1.1249 with todays support and resistance levels at 1.1052 and 1.1382.
GBP/USD has reversed part of its overnight gains this morning. The pair was heavy supported yesterday after BoE left its Interest Rate Decision unchanged sending the pair towards 1.43 level. However, after the pair met resistance near this level it dipped to this day low at 1,4222. Now traders will shift their attention toward developments surrounded EU referendum scheduled next Thursday. Britain calendar is data free today so traders will find some cues in US Building Permits for further momentum. At the moment the pair is trading at 1.4233 with todays support and resistance levels located at 1.4058 and 1.4348 spots.
USD/CAD is recovering after yesterdays sharp fall from nine-day highs marked at 1.3090. Today the pair is trading with bullish mood as strengthened oil prices with dollars broad based weakness are supporting Canadian currency versus its American neighbor. Today traders will set up their focus on US Building Permits followed by Canadian Core CPI data released during this day. Currently the pair is trading at 1.2924 with todays support and resistance levels at 1.2791 and 1.3174.
USD/JPY is trading under bearish pressure this morning. Yesterday the pair reached almost two-year low around 103.50 level as risk aversion sentiment triggered by uncertainty around “Brexit” heavily weighed the pair. The pair recovered part of its losses but still it will be influenced today by sentiments surrounding upcoming referendum. Amid data dry calendar from Japan, traders will focus their attention on the US Building Permits due later this day. Currently the pair is trading at 104.31 level with todays support and resistance levels at 103.19 and 105.69 marks.
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Monday, June 20th
GBP/USD jumped for more than 100 pips this morning. Today pound bulls are pushing the pair in the north direction as the latest “Brexit” polls results are showing that sentiments surrounded upcoming referendum are changing winds. Now “Remain” voted participants are taking lead sending the pair to nine-day high witnessed today at 1.4623 spot. Amid data dry calendar markets will continue to closely watch for developments surrounding “Brexit” which is scheduled on Thursday, June 23rd. At the moment the pair is easing its positions and trading at 1.4576 with todays support and resistance levels located at 1.4530 and 1.4690.
USD/CAD is losing ground as CAD bulls are gaining major support on the back of higher oil prices. Moreover, broadly increased selling pressure on USD, particularly in crosses with EUR and GPB, is dragging the pair in south direction. Meanwhile, in absence of any major market releases today the pair will stay influenced by oil price changes. Currently the pair is trading at 1.2844, slightly recovering from todays lows. Todays support and resistance levels are located at 1.2760 and 1.3028.
EUR/USD is trading sharply higher today breaking through key resistance level of 1.13 as “Remain” voted participants has taken an advantage in “Brexit” polls results. However, the pair is losing its upside momentum and is trading slightly lower ignoring positive German PPI data released this morning. The pair will remain under influence of “Brexit” developments while the speech of Fed’s member N.Kashkari is scheduled later in the NA session. At the moment the pair is trading at 1.1338 down from todays high marked at 1.1382 spot with todays support and resistance located at 1,1221 and 1.1417.
USD/CHF is trading in narrow range of 15 pips between 0.9580 and 0.9595 levels with uncertain direction this morning as both bulls and bears are fighting for control over the pair. On the one hand, increased risk-on sentiment is weighing Swiss franc status of safe-haven, on the other broadly based dollars sell-off is pushing the pair to the south. Nothing worth is mentioned in data calendar for today so the pair will follow market sentiments. At the moment the pair is trading at 0.9585 with todays support and resistance levels located at 0.9559 and 0.9663
Dear traders Forex.ee is highly recommending You to set up Your risk management taking into account the upcoming UK EU referendum scheduled this Thursday (23nd June) with expected high volatility before and after it!
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Tuesday, June 21st
GBP/USD has broken through key resistance level of 1.47 this morning and now is testing three-week highs over this level. Today the pair is still staying under bullish pressure as the latest “Brexit” polls results are showing slight overweight in “Remain” voted camp. Meanwhile, the main event of this week is coming closer bringing nervousness amid traders causing markets to experience some volatility last days. Looking ahead, today traders will closely watch for developments surrounding upcoming referendum while UK will release CBI Industrial Trends Orders followed by Fed J.Yellen’s testimony. At the moment the pair is trading at 1.4701 level with todays support and resistance levels located at 1,4530 and 1,4889.
USD/JPY is trading under bullish pressure as risk-on sentiments are prevailing over the market this morning. Moreover, earlier this Tuesday the pair once again spiked to this year low at 103.59 spot, but spike faded quickly as dovish comments of Japanese PM Sh.Abe made after latest monetary policy meeting minutes has forced the pair to take moves in north direction. Today in data calendar traders will find only the Fed J.Yellen’s testimony, while new “Brexit” headlines will continue to drive global markets sentiment. At the moment the pair is trading at 104.42 with todays support and resistance levels located at 103.07 and 104.92.
EUR/USD is trading in north direction, after finding decent support at 1.13 level on the back of changing risk sentiment. However, the main driver of markets global sentiment remains upcoming UK referendum. Today, next in focus for the major remains German ZEW Survey followed by the speech of President M.Draghi and J.Yellen’s testimony. Currently the pair is trading at 1.1346 with todays support and resistance levels at 1,1240 and 1,1406.
USD/CAD continues its downslide for the fourth day in a row. Today commodity-linked Canadian currency continues to gain support from higher oil prices. Furthermore, the pair is keeping its downside direction as US dollar remains depressed this Tuesday. Today the pair will stay mostly under influence of oil price changes with Fed J.Yellen’s testimony scheduled later this day. Currently the pair is trading at 1.2779 with todays support and resistance levels at 1.2725 and 1.2897.
Dear traders Forex.ee is highly recommending You to set up Your risk management taking into account the upcoming UK EU referendum scheduled this Thursday (23nd June) with expected high volatility before and after it!
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Wednesday, June 22nd
GBP/USD remains nervous last days awaiting outcome of UK referendum despite the latest polls results showing favor in “Remain” camp. The British pound remains strong against its counterpart as the latest polls are showing slight overweigh in “Remain” camp, thus decreasing chances of “Brexit” scenario. Today all data will have limited influence on the pair as upcoming UK referendum is taking center stage. At the moment the pair is hovering at 1.4690 level with todays approximate support and resistance levels located at 1.4517 and 1.4851.
EUR/USD dropped sharply last Tuesday as traders took a breath before tomorrows big event. The pair has bounced-off from todays minimum printed at 1.1237 spot this morning as US currency is losing the ground across the board. Amid of fading “Brexit” concerns the pair will get major support this day as market participants hope that Britain will vote to stay in the European Union, however traders also will take into account the upcoming Existing Home Sales from US followed by another Fed J.Yellen’s testimony scheduled later this day. At the moment the pair is trading at 1.1206 with todays support and resistance level at 1.1169 and 1.1388.
USD/CAD recovered part of its loses on the back of intense bid tone in USD witnessed yesterday. However, the oil price recovery pushed the pair back above 1.28 level this morning. Today traders will set up their focus on Canadian Retail Sales followed by US Existing Home Sales and weekly data of Crude Oil Inventories. Also market participants will find some clues for further momentum in Fed Chair J.Yellen’s testimony due this day. Currently the pair is trading at 1.2786 with todays support and resistance levels at 1.2737 and 1.2868.
USD/JPY has recovered from last day minimum witnessed at 103.59 on the back Japanese stock market recovery amid of easing “Brexit” fears. However, the pairs recovery seems to be limited on the back of broad based dollars weakness as Yellen’s cautious testimony continues to weigh US currency. Today traders will await for US Existing Home Sales and Fed Chair J.Yellen’s second testimony, however the upcoming UK referendum will set up global markets sentiment. Currently the pair is trading at 104.38 with todays support and resistance levels at 102.96 and 105.99
Dear traders Forex.ee is highly recommending You to set up Your risk management taking into account the upcoming UK EU referendum scheduled this Thursday (23nd June) with expected high volatility before and after it!
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Forex.ee
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Monday, June 27th
GBP/USD continues losing a grip at the beginning of this week, keeping its range near level of 1.34. The pair is extending its drop as traders are still digesting the political and economic impact of UK referendums results. Today all attention will be focused on meeting between A.Merkel, M.Renzi, F.Hollande and D.Tusk where EU leaders will discuss Article 50. At the moment the pair is trading at 1.3444 with todays support and resistance levels located at 1.3304 and 1.3556.
EUR/USD is keeping its range near mid-1.10 level. The shared currency is still weak against its counterpart as the effect of UK leaving the European Union continues to influence the market. Nothing important scheduled in data calendar for today, so the pair will gain further momentum from global market sentiment. Currently the pair is trading at 1.1049 with todays support and resistance levels at 1.0975 and 1.1107.
USD/JPY is trading in bearish trend, stepping under the level of 102 this morning. Today the pair will be pressured as uncertainty after “Brexit” decision is still making traders to seek for safe-haven in Japanese currency. Moreover, the yen remains in demand on the back of fading expectations of this year Fed rate hike. Today in data calendar traders will find only secondary releases from US that most likely will have limited influence on the pair. At the moment the pair is trading at 101.90 with todays support and resistance levels located at 101.22 and 102.84.
AUD/USD dropped this morning as Chinese central bank devalued Yuan suddenly sending the pair under 0.74 level. However, the pair recovered part of its positions lost during this morning, however the pair still is trading with strong bearish pressure as dust around UK referendum has not settled down yet setting up risk-aversion sentiment making AUD to lose the ground against its American counterpart. Amid data dry calendar, the pair will follow global market sentiment later this day. At the moment the pair is trading at 0.7428 with todays support and resistance levels at 0.7395 and 0.7463.
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Thursday, June 30th
GBP/USD
Current price: 1.3372 (-0.4%)
Session range: Open 1.3427; High 1.3469; Low 1.3362
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S 1.3170; R 1.3664
Main drivers: UK GDP, US Initial Jobless Claims, Speeches of BoE Governor M.Carney and FOMC Member J.Bullard
Note: GBP/USD is back below the level of 1.34 as the pair is performing minor pull back after tow-day post-Brexit rebound. Moreover, dollars broad based recovery also is weighing the pair. In addition, traders today will trace actions of potential Conservative Party candidates B.Johnson and T.May to find cues for furthermore momentum.
EUR/USD
Current price: 1.1101 (-0.2%)
Session range: Open 1.1123; High 1.1127; Low 1.1086
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S 1.019; R 1.1184
Main drivers: German Unemployment Change, prelim. EU CPI with block of local macro data and US Initial Jobless Claims. Also, Account of Monetary Policy from ECB meeting will be closely watched due later this day.
Note: The pair is trading with slight recovery on the back of positive German Retail Sales data released this morning. However, the pair will remain pressured today as cooling down risk appetite is weighing the pair.
USD/JPY
Current price: 102.63 (-0.2%)
Session range: Open 102.80; High 103.01; Low 102.46
Latest trend: Neutral
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S 101.86; R 103.43
Main drivers: US Initial Jobless Claims, Speech FOMC Member J.Bullard with Japanese Core CPI, Tankan Indices with Chinese Manufacturing PMI scheduled due Asia session.
Note: The pair is trading in south direction this morning despite of weak Japanese industrial production data. Today the pair will remain under the influence of the risk-off sentiment.
USD/CAD
Current price: 1.2976 (0.3%)
Session range: Open 1.2933; High 1.2997; Low 1.2931
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S 1.2856; R 1.3083
Main drivers: US Initial Jobless Claims, Canadian GDP.
Note: Today the pair is trading in a firm note mostly driven by weaker oil price.
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Friday, July 1st
GBP/USD
Current price: 1.3289 (-0.2%)
Session range: Open 1.3310; High 1.3350; Low 1.3277
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1,3047 R. 1.3630
Main drivers: UK Manufacturing PMI, US ISM Manufacturing PMI
Note: The pair fell sharply yesterday after BoE governor M.Carney hints of potential rate cut this summer. Moreover, the pair remains pressured lately on the back of post-Brexit economic and political uncertainty.
USD/JPY
Current price: 102,71 (-0,5%)
Session range: Open 103,17; High 103,39; Low 102,67
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 102.01 R. 103.91
Main drivers: US ISM Manufacturing PMI
Note: The pair rose in Asia on the back of disappointing Chinese manufacturing PMI. However, market participants stay cautious last week as uncertain sentiment across the market is forcing traders to pay more attention to safe-haven currencies, sending the pair lower the level of 103 again.
EUR/USD
Current price: 1.1088 (-0.2%)
Session range: Open 1.1103; High 1.1117; Low 1.1072
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.0964 R. 1.1227
Main drivers: EU Manufacturing PMI, local EU Manufacturing PMI’s, US ISM Manufacturing PMI.
Note: The pair has been staying in bearish trend for the second session in a row as Euro bears were boosted yesterday by BoE Governor M.Carney’s comments of further rate cut in the coming months.
NZD/USD
Current price: 0,7156 (0,3%)
Session range: Open 0.7133; High 0.7161; Low 0.7119
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7027 R. 0.7197
Main drivers: US ISM Manufacturing PMI
Note: NZD/USD has been trading in south direction for the fourth consecutive session. Kiwi has recovered half of its losses after British referendum on the back of the broad based US dollars weakness and resistance to post-Brexit sentiments.
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Tuesday, July 5th
EUR/USD
Current price: 1.1128 (-0.2%)
Session range: Opened 1.1154 High 1.1158 Low 1.1122
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1074; R. 1.1198
Main drivers: EU Local Service PMI, EU Services PMI, EU Retail Sales, US Factory Orders, Speech of the FOMC Member W.Dudley
Note: The pair remains pressured this morning as fading risk appetite is sending the pair in the south direction.
AUD/USD
Current price: 0.7506 (-0.4%)
Session range: Opened 0.7536 High 0.7544 Low 0.7493
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 0.7402 R. 0.7575
Main drivers: US Factory Orders, Speech of the FOMC Member W.Dudley
Note: The pair spiked the level of 0.7544 as RBA has left its rate in flat. However the spike faded quickly as RBA has left doors opened for further easing the rate. Today the pair will remain pressured as traders are still digesting disappointing Retail Sales and Trade Balance released by Australia earlier this morning.
GBP/USD
Current price: 1.3217 (-0.5%)
Session range: Opened 1.3288 High 1.3290 Low 1.3215
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3168 R. 1.3343
Main drivers: UK Services PMI, BoE Financial Stability Report, Speech of the BoE governor M.Carney, US Factory Orders, Speech of the FOMC Member W.Dudley
Note: The pair is trading sharply lower this morning on the back of awful UK Construction PMI that showed the lowest level since 2009. Moreover the pair will remain weak today as risk-off sentiment coupled with upcoming UK macro data that expectedly will show poor results are boosting pound bears.
USD/JPY
Current price: 101.92 (-0.6%)
Session range: Opened 102.52 High 102.59 Low 101.87
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 101.44 R. 102.97
Main drivers:
Note: Today the pair is trading under pressure as risk aversion sentiments are sending the pair to minimums last seen week ago.
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Wednesday, July 6th
GBP/USD
Current price: 1.2942 (-0.6%)
Session range: Open 1.3023; High 1.3029; Low 1.2795
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2812 R. 1.3390
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI, FOMC Meeting Minutes
Note: Once again, GBP/USD dipped to lows last seen more than 30 years ago. The pair broke through the level of 1.28 with the lowest point at 1.2795 on the back of dovish comments after BoEs Financial Stability Report where Governor M.Carney showed worries amid post-Brexit economic and political unstable environment. Moreover, the pair was pressured after streak of disappointing Construction and Services PMIs showed during this week.
EUR/USD
Current price: 1.1061 (-0.1%)
Session range: Open 1.1075; High 1.1075; Low 1.1036
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0984 R. 1.1232
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI, FOMC Meeting Minutes
Note: The pair met increasing selling pressure as new wave of post-Brexit concerns hit the market supporting all the safe-haven currencies with US dollar. Furthermore, traders are staying cautious ahead of speech of the ECB President M.Draghi.
USD/JPY
Current price: 101.03 (-0.7%)
Session range: Open 101.73; High 101.76; Low 100.58
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 100.77 R. 103.06
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI, FOMC Meeting Minutes.
Note: The pair caught new selling wave in Asia session breaking through 101 resistance level on the back of renewed risk aversion sentiments. Furthermore, uncertain situation on the post-Brexit economic field will keep pressured yens safe-haven status during this day. However, the pair has recovered slightly in early Europe as traders took profit this morning after sharp slide down move.
AUD/USD
Current price: 0.7450 (-0.6%)
Session range: Open 0.7459; High 0.7463; Low 0.7401
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7395 R. 0.7577
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI, FOMC Meeting Minutes.
Note: The pair dropped sharply as renewed risk-off sentiments are pressuring high-risk assets such as Australian dollar. Furthermore, US dollar was trading in a higher note this morning as sharp drop in GBP/USD cross boosted US dollars bulls sending AUD/USD to fresh weekly lows. However the pair has managed to perform some recovery action in early Europe as higher gold price supported resource-linked AUD.
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Thursday, July 7th
EUR/USD
Current price: 1.1080 (-0.2%)
Session range: Open 1.1101; High 1.1108; Low 1.1072
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0997, R. 1.1165
Main drivers: ECB Publishes Account of Monetary Policy Meeting, US ADP Nonfarm Employment Change, US Initial Jobless Claims
Note: The pair has recovered part of its losses caused by strong data of ISM Non-Manufacturing PMI as risk appetite is back in action this morning. Now the pair is wobbling in area near the level of 1.1100 awaiting for US employment report for further momentum.
GBP/USD
Current price: 1.2947 (0.1%)
Session range: Open 1.2927; High 1.2998; Low 1.2875
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.2685, R. 1.3153
Main drivers: UK Manufacturing Production, US ADP Nonfarm Employment Change, US Initial Jobless Claims
Note: The pair performed a solid comeback from todays lows at 1.2875 on the back of renewed risk-on sentiments coupled with broad based US dollars weakness. However, recovery seems to be limited as uncertainty surrounded referendums implications is still weighing the pound.
USD/CAD
Current price: 1.2948 (-0.1%)
Session range: Open 1.2956; High 1.2984; Low 1.2943
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2877, R. 1.3095
Main drivers: US ADP Nonfarm Employment Change, Building Permits in Canada, Canadian Ivey PMI, US Crude Oil Inventories, US Initial Jobless Claims
Note: The pair slipped down yesterday from this month high and now is holding just above the level of 1.2950. The Canadian dollar is trading on upper note today against its American neighbor as higher oil prices and shifting sentiments surrounding US currency are supporting CAD. Yesterday FOMC minutes showed hesitate mood of the Committee thereby removing USD tailwinds.
JPY/USD
Current price: 100.91 (-0.4%)
Session range: Open 101.30; High 101.40; Low 100.63
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 99.52, R. 102.64
Main drivers: US ADP Nonfarm Employment Change, US Initial Jobless Claims
Note: The pair is back under the level of 101. Yesterday the pair rebounded from nearly two-week lows with the lowest point at 100.20 on the back of strong ISM Non-Manufacturing PMI with dovish FOMC meeting minutes decreasing market worries and launching new risk-on sentiment wave. However, the pair is back in bearish trend this morning despite renewed risk appetite as we are getting closer to main event of this week NFP scheduled this Friday leaving investors very cautious as previous NFP results has left much to be desired.
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