Technical Analysis of EUR/USD for June 5, 2023

Technical Market Outlook: The EUR/USD pair has given away all the gains made on Friday during the NFP-Payrolls data release and is currently trading at the level of 1.0695, which is the 50 MA dynamic support level. Any breakout below this level would sustain the bearish outlook and put the level of 1.0636 for a […]

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Daily Market Comment – US jobs data keeps the door for a June pause wide open

Dollar gains as NFPs beat estimates But June pause probability stays unmoved as wages slow RBA faces dilemma to hike or stay sidelined Saudi Arabia pledged oil cuts from July Dollar rebounds as US economy adds 339k jobs The US dollar traded higher against most of its major peers on Friday and continued to gain […]

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Technical Analysis – EURUSD slips below 1.07 again as rebound falters

EURUSD is back under selling pressure as the rebound from last week’s two-month low of 1.0634 has suffered an early setback. The 1.0700 handle is in danger of being surrendered again as the momentum indicators aren’t looking very encouraging right now. The fast stochastic oscillator (%K) is about to cross below the slow stochastic (%D), […]

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Technical analysis of GBP/USD for June 5-10, 2023

Trend analysis GBP/USD may start moving downward this week, starting from the level of 1.2445 (closing of the last weekly candle) to the 50% retracement level at 1.2239 (red dashed line). Upon reaching this price, the pair will turn around and climb towards the upper fractal at 1.2678 (red dashed line). Fig. 1 (weekly chart) […]

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Technical analysis of EUR/USD for June 5-10, 2023

Trend analysis EUR/USD may continue moving downward from 1.0707 (closing of the last weekly candle) to the historical resistance level of 1.0656 (blue dashed line). Upon reaching this price, the pair will turn around and climb up to the 23.6% retracement level at 1.0743 (red dashed line). Fig. 1 (weekly chart) Comprehensive analysis: Indicator analysis […]

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Trading plan for US dollar index on June 05, 2023

Technical outlook: The US dollar index has hit the initial projected target at about 104.15 as seen on the 4H chart here. The Fibonacci 1.618 extension was exceeded as the bulls registered a high close to 104.23. The index reversed sharply from there, dragging the index lower through 103.00 before finding some near-term support. It […]

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Trading plan for EURUSD on June 02, 2023

Technical outlook: EURUSD bounced off the 1.0640 lows last week and pushed higher towards 1.0779 on Friday as projected earlier. The bears were quick to take this opportunity and came back in control as the trajectory reversed towards 1.0700-10 to close the week. The single currency pair is seen to be trading close to 1.0700 […]

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USDJPY, Daily | Continue to the resistance level?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:XAUUSD , Daily | Bounce off Support? June 5, 2023 The material has been provided by InstaForex Company – www.instaforex.comGBPUSD , Daily | Falling tp Support?? June 5, 2023 The material has been provided by InstaForex Company – www.instaforex.comUSD/JPY: Where is the path of […]

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XAUUSD , Daily | Bounce off Support?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USDJPY, Daily | Continue to the resistance level? June 5, 2023 The material has been provided by InstaForex Company – www.instaforex.comGBPUSD , Daily | Falling tp Support?? June 5, 2023 The material has been provided by InstaForex Company – www.instaforex.comIndicator analysis: Daily review of […]

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GBPUSD , Daily | Falling tp Support??

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USDJPY, Daily | Continue to the resistance level? June 5, 2023 The material has been provided by InstaForex Company – www.instaforex.comXAUUSD , Daily | Bounce off Support? June 5, 2023 The material has been provided by InstaForex Company – www.instaforex.comTechnical analysis on GBPUSD for […]

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Trading Signal for GBP/USD for June 5-6, 2023: sell below 1.2480 (21 SMA – 6/8 Murray)

Early in the European session, the British pound is trading around 1.2443 below the 21 SMA and the 200 EMA. The 1-hour chart shows that the British pound reached the 1.2542 level and failed to consolidate above that level. We see a strong technical correction today, and the instrument is likely to continue falling towards […]

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Forecast for EUR/USD on June 5, 2023

EUR/USD: US President Biden signed a law lifting the debt ceiling (to $31.47 trillion) until January 1, 2025, after which it will be raised. Today, the Treasury is already issuing $50 billion in 44-day Treasury bills, $65 billion in 13-week bills, and $58 billion in 26-week bills. According to preliminary data, the Treasury plans to […]

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Forecast for GBP/USD on June 5, 2023

GBP/USD: On Friday, the pound fell by 75 pips amid mixed but not exactly weak US employment data. This morning, upon the news of President Biden signing a bill to lift the debt ceiling on Saturday, the pound lost another 20 pips, entering the range of the May 31 candle. The nearest target at 1.2403, […]

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Forecast for AUD/USD on June 5, 2023

AUD/USD: On Friday, the Australian dollar surpassed the entire range of target levels at 1.6567-0.6628, reaching resistance at the MACD line on the daily chart. The price then retreated below the upper limit of the range and continued to fall this morning. The signal line of the Marlin oscillator is turning downward without leaving the […]

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Weekly review of GBP/USD for June 03, 2023

Review: The GBP/USD pair continues to move upwards from the level of 1.2390. According to the previous events, the GBP/USD pair is still moving between the levels of 1.2390 and 1.2427; for that we expect a range of 110 pips (1.2500 – 1.2390). On the one-hour chart, immediate support level is seen at 1.2390, which […]

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European stocks rise amid upbeat news from US

On Friday, leading stock indices in Western Europe rose more than 1%. The uptrend in the European stocks was fueled by traders’ risk appetite. The markets were further buoyed by encouraging updates from the US, with imminent progress reported on the resolution of the national debt issue. Securities in the mining and energy sectors stand […]

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June 2, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair dropped to 0.9600, a level last seen in 2002, and then bounced back strongly, especially around this crucial support level. The next resistance level at 1.0100 did not stop the bulls, who pushed the prices higher along the lower edge of the shown movement channel. This resulted in reaching new bullish targets […]

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June 2, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The GBPUSD pair has been on a rising trend from 1.0400 to 1.0600, which stopped further declines. The higher lows at 1.1150 and 1.1750 indicated that the bulls were dominant and could break above 1.1750. The bulls encountered resistance at 1.2340, but they managed to overcome it. However, they failed to make a new high […]

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Technical analysis on GBPUSD for June 2nd, 2023.

Green line- bullish RSI divergence Red line- resistance trend line Violet lines- Fibonacci retracement levels GBPUSD is under pressure. Price reached as high as 1.2543 earlier today but now price is trading near 1.2450. Price has reached the key Fibonacci resistance area of 61.8% retracement. Price got rejected at the key resistance area. The RSI […]

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Technical analysis on SPX for June 2nd, 2023.

Green upward sloping line- support trend line Yellow rectangle- resistance area Green horizontal lines- Fibonacci extension targets Following our last analysis on SPX from May 30th, we see price reaching our first Fibonacci extension target at 4,292. Price continues making higher highs and higher lows. Trend remains bullish as we mentioned in our previous SPX […]

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Ichimoku cloud indicator analysis on Gold for June 2nd, 2023.

Black line- support trend line Gold is currently trading around $1,953 after reaching as high as $1,982 yesterday. Price remains inside the Daily Kumo (cloud). Trend remains neutral according to the Ichimoku cloud indicator. Price continues to respect the black upward sloping support trend line. The trend line provides support at $1,947. A break below […]

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Ichimoku cloud indicator analysis on EURUSD for June 2nd, 2023.

EURUSD is trading around 1.0714 after reaching as high as 1.0779 earlier today. Price entered the 4 hour Kumo (cloud) but got rejected after the announcement of the unemployment rate and Non Farm Payrolls in the USA. Technically price has exited the bearish channel it was in but today’s pull back increases the danger that […]

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Dollar: the devil is in the details

What’s happening with the U.S. economy? No one can provide an answer to this question. The latest employment statistics indicate that it is not responding to the most aggressive tightening of monetary policy by the Federal Reserve in decades! The indicator in May increased by 339,000! It not only surpassed the consensus forecast of Bloomberg […]

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EUR/USD. May Nonfarm Payrolls and the controversial victory of the Democrats

Today, the euro/dollar pair approached the 1.08 level, but the May Nonfarm Payrolls dampened the upward momentum. It cannot be said that the published report was flawless – no, there are some flaws, which we will discuss below. However, EUR/USD traders interpreted the release as favoring the American currency. The dollar received situational support, allowing […]

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Bitcoin loses out to artificial intelligence

What is Bitcoin? A risky asset that sensitively reacts to rumors of a pause in the Federal Reserve’s rate hikes and an improvement in global risk appetite? But then, why does BTC/USD remain indifferent to the rally in the Nasdaq Composite? Or is it a safe haven asset that could demonstrate phenomenal results in the […]

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Technical analysis – GBPUSD drifts lower after upbeat US jobs data

GBPUSD slid to 1.2492 in the wake of an upbeat US nonfarm payrolls report, staying below the nearby 1.2532 resistance area, even though it quickly inched back above 1.2500. Technically, the pair touched the 50% Fibonacci retracement of the 1.2678-1.2307 downleg before edging up, though selling pressures may not fade away. The RSI and the […]

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AUD/USD Outlook for June 2, 2023

The market reacted to the outcomes of the May RBA meeting with a sharp strengthening of the Australian dollar and a surge in the AUD/USD pair upward, which broke through the key resistance level of 0.6700, reaching an intraday high of 0.6716. However, the price failed to overcome the strong resistance level of 0.6785 (200 […]

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