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  1. #141
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    Technical update 9th June

    EUR/USD

    Currently, the pair is moving towards the support zone of 1.21500 and the next resistance is at 1.23200. The Eurozone and German ZEW economic sentiments data released yesterday indicated a decline in the level from the surveyed investors. Look for buying opportunities of EUR/USD if it bounces up from the support zone of 1.21500, Bears aim for ascending trend line from April, bulls have a bumpy road, so overall we can say that pair is ranging across.

    GBP/USD

    The pair pares the previous day’s losses around 1.4150 during the quiet Asian session on Wednesday. GBP/USD remains between 1.4110 and 1.4200 regions which were established since May end. Friday’s low acted as extra filters. The next support zone of the pair will be at 1.4000 and resistance will be at 1.43500. The pair already slipped below 50 and 100 SMA, on a short-term basis, look for buying opportunities but overall the pair is ranging across.

    USD/CAD

    The pair rose for the first time in three days on Tuesday. Currently, the loonie pair is moving towards the resistance zone of 1.21000, and the support zone is at 1.19000. The pair seesaws around 1.2115 amid a sluggish Asian morning on Wednesday. The Bank of Canada will be announcing its Monetary policy decision later at 2200 (GMT+8). The main point of attention is the BOC’s view on the recent lockdown and whether it is still looking at further QE tapering, Look for short-term selling opportunities for the pair.

    AUD/USD

    AUD/USD is easing towards 0.7700 after China is said to consider price controls on coal prices. The Aussie Dollar ended a second week unchanged against the greenback area at 0.7740. The Australian NAB Business Confidence data released yesterday indicated a decline in the surveyed businesses on current business conditions. Next support zone if the pair is at 0.7550 and resistance will be at 0.78000, look for short-term buying opportunities of AUD/USD.



  2. #142
    Senior Trader
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    Technical Market update 10th June

    EUR/USD

    EUR/USD stays pressured around the key level of 1.2180-75 amid the early Asian session on Thursday. The pair refreshed weekly top the previous day before reversing from 1.2218. Recently the pair failed to break the key level of 1.22. The ECB will be announcing its monetary policy decision later in 1945 (GMT+8). A press conference will also be held in 2030 (GMT+8). We can expect the volatility in EUR during this time. The pair is moving towards the support zone of 1.21500 and the next resistance zone is at 1.23200. Look for the buying opportunities of EURUSD if it bounces up from the support zone of 1.21500.GBP/USD

    Recently the pair weakened after the EU threatened to take retaliatory actions on the UK for the latter’s refusal to implement post-Brexit trading arrangements in Northern Ireland. BOE committee member Haldane will be speaking later in 2005 (GMT+8). During this time, we can expect volatility in GBP. Currently, the pair is moving towards the key level of 1.41. Its next support zone is at 1.40000 and the next resistance zone is at 1.43500. Look for short-term selling opportunities of GBPUSD if it breaks below the key level of 1.41. Overall the pair is ranging across.

    AUD/USD

    AUD/USD is trading little changed above the level of 0.7700. The next support zone of the pair is at 0.75500 and the next resistance zone is at 0.78000. The Australian Inflation Expectations data released earlier today indicated an increase in the expectation of future inflation. US-China agrees to push forward trade, investment ties. US treasury yields remain pressured near March lows while the US Dollar trades firmer ahead of the all-important US CPI data. Look for short-term buying opportunities for the pair.

    USD/CAD

    Currently, the pair is testing the resistance zone of 1.21000 and the next support zone will be at 1.19000. During the monetary policy meeting yesterday, the BOC held policy unchanged. The Central Bank acknowledged that economic growth was robust despite the second wave of the COVID virus. The pair is trading flat on the day so far. Nonetheless, the BoC remains optimistic in a strong economic rebound as vaccinations are administered at a faster pace and lockdown restrictions are likely going to be eased. Look for short-term buying opportunities if it breaks the resistance zone of 1.21000.



  3. #143
    Senior Trader
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    TECHNICAL MARKET ANALYSIS 11th JUNE

    EUR/USD

    EUR/USD pair is modestly up, currently trading in the 1.2190 price zone. The pair recently bounced off the support zone of 1.21500. Day 1 of the G7 meetings will be held today. And day 2 and day 3 will be held on the weekend. The next support zone is at 1.23200. The near-term picture of the pair is neutral-to-bullish, but momentum is still missing. In the 4 hour chart, the pair is still trading within directionless, moving averages. The EUR/USD pair is up but below the 1.2200 figure, with the greenback shedding ground against most of its major rivals. As widely anticipated, the European Central Bank left rates and its easing programs unchanged in its June decision. Look for short-term buying opportunities of EURUSD.

    AUD/USD

    The pair is ranging across. The G7 meeting which will be held today will bring volatility to the market. AUD/USD is holding steady around 0.7750, as a cautious market mood pauses the US dollar’s decline. Most Australian banks will be closed next Monday in observance of the Queen’s Birthday. So expect lower trading volatility and volume during the usual Australian market hours. The next support zone is at 0.75500 and the next resistance zone is at 0.78000. Look for short-term selling opportunities of AUD/USD.

    GBP/USD

    GBP/USD recently bounced up from the key level of 1.41. We can expect volatility during the G7 meeting. The next support zone, the pair is approaching is at 1.40000 and the next resistance zone is at 1.43500. Bank of England Governor Bailey will be speaking later at 1630 (GMT+8), which will bring more volatility to the market. Below 1.4080, the next levels to watch are 1.4055 and 1.4010, which supported the pair in May. Some resistance is at 1.4110, which provided support earlier in the week, and then the recent high of 1.4190. Further above, 1.4220 and 1.4250 await the bulls.

    USD/JPY

    The USD/JPY pair touched the intraday high of 109.79 in the New York session, however failed to sustain this level. The selling pressure on the dollar keeps the pair off the cliff in the initial Asian session. The next support zone is at 108.500 and the next resistance zone is at 110.800. In the near-term scenario, the pair is neutral with the risk skewed to the upside. The 4-hour chart shows that it is developing above directionless moving averages. Further gains are likely on a break above 109.67, bears will likely take over on a break below 108.90. Look for short-term buying opportunities for the pair.



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