Forecast for June 3: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.1344, 1.1294, 1.1254, 1.1168, 1.1137 and 1.1087. Here, we continue to monitor the ascending structure of May 25. At the moment, we expect a movement to the […]

Markets have completely switched their attention to the recovery processes in the global economy. The exit of economically important countries from quarantine, the absence of a second wave of the COVID-19 pandemic, as well as the latest economic statistics, or rather production indicators, indicate that the most difficult part of the crisis has already passed […]

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USDJPY increased to an almost two-month high of 108.84 earlier today after the aggressive buying interest on Tuesday’s session, surpassing the flat 200-day simple moving average (SMA) and the upper Bollinger band. Also, the 20- and 40-day SMAs posted a bullish crossover, confirming the recent upside rally in the short-term. According to the momentum indicators, […]

Crypto Industry News: Cryptocurrency exchanges and payment processors are now legally recognized as cash service companies in Canada. On June 1, amendments were made to the Canadian Crime Income Act and the Terrorist Financing Act, which were adopted in June 2019 to remove holes in the existing legal framework. Canadian crypto companies must now report […]

Trend analysis (Fig. 1). Today, the upward trend may continue from the level of 1.2552 (closing of yesterday’s candle) with the target at the resistance line 1.2626 (presented in a red bold line). If this line is reached, a downward pullback is possible with the target of 1.2547 – a 14.6% pullback level (presented in […]

Trend analysis (Fig. 1). Today, the upward trend may continue from the level of 1.1172 (closing of yesterday’s candle) with the target of 1.1235 located at the upper border of the Bollinger line indicator (presented in a purple dashed line). In case of breaking this level upwards, the next target is 1.1296 – a 76.4% […]

Crypto Industry News: The world’s leading mining equipment manufacturer Bitmain has launched a new ASIC Antminer T19 chip for Bitcoin mining. According to the announcement of June 1, the new Antminer T19 has a SHA256 hash rate of 84 terahash / second with a 3% error margin and energy efficiency of 37.5 joules / terahash […]

The only thing that worries all the media right now is the protests in the United States.This is the only thing that determines the mood of investors at the moment. To determine the trend for yesterday, there was enough information that four St. Louis police officers were hospitalized with bullet wounds. That is, now not […]

Technical Market Outlook: After the short period of consolidation, the EUR/USD pair has broken through the supply zone located between the levels of 1.1148 – 1.1190 and made a new local high at the level of 1.1213 (at the time of writing the article). The bulls are still in control of the market and the […]

Technical Market Outlook: The GBP/USD pair has made a new local high at the level of 1.2609, just above the technical resistance located at the level of 1.2580. The market has broken out of the ascending channel and is getting away from it, so the momentum is still increasing and odds for a local up […]

GBP/JPY is about to test solid resistance at 135.10 before climbing higher towards 141.06. The clear break out of the base-channel also confirms that wave three is developing. We are currently looking for the peak of red wave iii. This could be seen here at 137.09 but it can be very difficult for the third […]

EUR/JPY has gained bullish momentum. We were looking for the peak of black wave iii/, but the speed of the rally since the low of black wave ii/ at 115.32 indicates that a much more bullish count is needed as we clearly are in black wave iii/, but the sub-waves in red still dominates the […]

EUR/JPY is trying to reach the round number 123.00. However, it may meet resistance from the upper channel pitchfork. As long as the pair does not drop and close bellow the 120.75 level, it is likely to touch the upper line o the pitchfork and reach the 123.00 level. Overall the EUR/JPY bias is Bullish. […]

To open long positions on GBP/USD, you need: Despite another futile round of trade negotiations between the UK and the EU, traders continue to buy the British pound amid a weak US dollar, which remains under pressure due to riots in the United States. However, it is worth paying attention that the COT reports for […]

Trading Recommendation Entry: 0.68984 Reason for Entry: Ascending trendline support, 23.6% Fibonacci retracement, moving average Take Profit : 0.70823 Reason for Take Profit: -27.2% Fibonacci retracement Stop Loss: 0.68015 Reason for Stop loss: 50% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:NZDUSD holding above trendline support and looks for… […]

EUR/USD Risk appetites continue to grow despite protests and riots in the US: S&P 500 gained 0.82% yesterday, gold fell 0.69%, yield on 5-year US government bonds rose from 0.31% to 0, 32% The euro grew by 35 points, gaining a foothold on the daily chart over the trend line of the price channel. Target […]

AUD/USD Optimistic data on the Australian economy came out this morning, on Wednesday. As we expected, GDP for the first quarter turned out to be better than forecast: -0.3% against the expected -0.4%. In addition, issued permits for new construction in April showed a decline of only 1.8% compared to expectations of -10.8%. As a […]

USD/JPY Following a two-week sideways movement, the USD/JPY pair finally pulled up yesterday due to the continuing rise in risk appetites: the S&P 500 added 0.82% yesterday, gold fell 0.69%, and 5-year US government bond yields were up from 0.31% to 0.32%. The growth of the USD/JPY pair reached 110 points, the first bullish target […]

Minuette operational scale (H4) The main precious metals Gold, Palladium, Platinum, and Silver – overview of movement options from June 3, 2020. ____________________ Spot Gold The development of the Spot Gold movement from June 3, 2020 will be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line […]

GBP/USD 1H The pound/dollar pair continued its upward movement on Tuesday, June 2, and also overcame the resistance level of 1.2529. Now this resistance level may be a kind of reference level for further purchases of the British currency. The fact is that, unlike the euro currency, which has a very narrow upward channel, the […]

EUR/USD 1H The EUR/USD pair calmed down on Monday, but already on Tuesday resumed a strong upward movement on the hourly timeframe, while remaining inside the upward channel, which is very narrow, which indicates an almost recoilless upward movement. In recent days, buyers did not completely take the initiative out of their hands, sellers did […]

EURUSD remains in a bullish trend. Price has broken out and above the resistance of the Kumo. Both the tenkan-sen and kijun-sen are positively sloped. As long as price is above them trend will remain bullish. Support is found at 1.0980, at 1.1030 and at 1.1065. These are important support levels. Breaking below any of […]

The price of gold began to decline today against the background of gradually fulfilling hopes for a faster recovery in global economies after the lifting of quarantine measures related to the COVID-19 pandemic. At the same time, the growing tension between the United States and China, as well as riots in America, are pushing the […]

Comparison of the two graphs: This is the USDJPY in D1 chart which shows a clear signal for the growth of the dollar. This is the euro in H4 chart which clearly shows growth against the dollar. With the given data above, we, therefore, conclude that one of these instruments is deceiving us. But it […]