EUR/USD and GBP/USD: Technical analysis for June 13
June 13, 2023 9:23 amVideo
Latest News
- Technical Analysis – Apple stock bounces off 1-year low April 29, 2024
- Technical Analysis – GBPUSD recovers from 5-month low April 29, 2024
- USD/JPY: Simple trading tips for novice traders on April 29th (US session) April 29, 2024
- GBP/USD: Simple trading tips for novice traders on April 29th (US session) April 29, 2024
- EUR/USD: Simple trading tips for novice traders on April 29th (US session) April 29, 2024
- GBP/USD: trading plan for the US session on April 29th (analysis of morning deals). The pound continues to be bought at every April 29, 2024
- EUR/USD: trading plan for the US session on April 29th (analysis of morning deals). The euro remains locked in a side channel April 29, 2024
- Technical Analysis – USDJPY plummets after 34-year high of 160.20 April 29, 2024
- EUR/USD. April 29th. The bulls continue to advance April 29, 2024
- GBP/USD. April 29th. Bulls find it extremely difficult to move upwards, but this week could change everything April 29, 2024
- Market Comment – Yen spikes on suspected intervention; big week awaits the dollar April 29, 2024
- Forex forecast 04/29/2024: EUR/USD, GBP/USD, USD/JPY, EUR/JPY, GBP/JPY and BTC from Sebastian Seliga April 29, 2024
- Federal Reserve encounter troubles April 29, 2024
- Technical Analysis – EURUSD attempts recovery from 5-month low April 29, 2024
- USD/JPY: trading tips for beginners for European session on April 29 April 29, 2024
- EUR/USD: trading tips for beginners for European session on April 29 April 29, 2024
- Video market update for April 29, 2024 April 29, 2024
- Technical Analysis – US 500 cash index is in the green ahead of the Fed April 29, 2024
- Technical Analysis – Gold weakens its momentum April 29, 2024
- Forecast for EUR/USD on April 29, 2024 April 29, 2024
EUR/USD
Higher timeframes
Uncertainty prevailed last week. However, bullish players managed to rise above important resistances on higher timeframes and began testing them. The success of this endeavor will allow them to gain support from the weekly medium-term trend (1.0789) and reenter the daily cloud (1.0806). The next bullish tasks will involve eliminating the daily cross (1.0821 – 1.0865) and gaining support from the weekly short-term trend (1.0866), as well as shifting the monthly medium-term trend (1.0901) in favor of bullish players. In the event of a rebound formation, the pair will return to a bearish position, and the first step on this path would be to overcome the range of 1.0730 – 1.0717 (daily short-term trend + final level of the weekly cross) and establish a new local low (1.0636).
H4 – H1
Today on lower timeframes, bulls have updated the previous high and are testing the first resistance of the classic pivot points (1.0788). Furthermore, their bullish targets include R2 (1.0818) – R3 (1.0846) and breaking through the H4 cloud (1.0812-31). Today, key levels serve as supports. In the event of a correction, they will encounter the pair around 1.0760-37 (central pivot point + weekly long-term correction). Further strengthening of bearish sentiments may occur through breaking the supports of the classic pivot points (1.0730 – 1.0702 – 1.0672).
***
GBP/USD
Higher timeframes
The previous week ended with some bullish optimism. The current week should determine whether the bulls have enough strength and desire to continue the ascent, aiming to exit the weekly correction zone (1.2678). Failure of bulls and bearish activity may push the market beyond the supports of the weekly short-term trend (1.2492) and the daily cross (1.2449). Further attention will be directed towards bearish players regaining such an important support level as the monthly medium-term trend (1.2302).
H4 – H1
On lower timeframes, the weekly long-term trend held the market from shifting the balance of power. While maintaining their main advantage, bulls are attempting to regain their positions today. Currently, they have reached the first resistance of the classic pivot points (1.2575). Furthermore, if the ascent continues, R2 (1.2642) and R3 (1.2687) will come into play. Key levels today are located within 1.2530 (central pivot point of the day) and 1.2499 (weekly long-term trend). A breakthrough and consolidation below these levels will change the current balance of power. In the event of a decline, the next targets will be the supports of the classic pivot points (1.2463 – 1.2418 – 1.2351).
***
The technical analysis of the situation uses:
Higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
Lower timeframes – H1 – Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: