EURUSD, “Euro vs US Dollar”

After forming a new consolidation range around 1.0900, EURUSD is trying to break it to the upside. Possibly, the pair may trade upwards to reach 1.0932 and then fall towards 1.0910. Later, the market may form one more ascending structure to complete the correction at 1.0951 and then resume moving inside the downtrend with the target at 1.0834.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking its consolidation range to the upside, GBPUSD is expected to correct towards 1.2235. After that, the instrument may resume trading downwards with the target at 1.2094.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 71.04. Possibly, the pair may move upwards for a while to reach 72.15 and then resume trading inside the downtrend with the short-term target at 69.44.

USDJPY, “US Dollar vs Japanese Yen”

After breaking 107.70 to the upside, USDJPY is expected to continue the correction towards 107.97. After that, the instrument may form a new descending structure to break 107.70 and then continue falling with the target at 106.60.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving downwards. Today, the pair may finish the correction towards 0.9692 and then resume growing to break 0.9722. Later, the market may continue growing with the target at 0.9750.

AUDUSD, “Australian Dollar vs US Dollar”

After forming another consolidation range below 0.6545 and breaking it to the upside, AUDUSD is expected to continue the correction towards 0.6589. Later, the market may start a new decline to break 0.6545 and then continue trading downwards with the target at 0.6474.

BRENT

Brent is growing. Possibly, today the pair may reach 39.00 and then start a new correction towards 30.50. After that, the instrument may resume trading upwards with the target at 45.50.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1728.50. Today, the pair may start another growth to reach 1737.27 and then form a new descending structure to complete the correction at 1710.10. After that, the instrument resume trading upwards with the target at 1750.50.

BTCUSD, “Bitcoin vs US Dollar”

After breaking 8844.00 to the upside, BTCUSD is expected to continue growing towards 9067.00. Later, the market may correct to return to 8844.00 and then resume trading upwards to break 9200.00. After that, the instrument may continue growing with the target at 9800.00.

S&P 500

After reaching 3012.3, the Index is expected to consolidate near the highs. If later the price breaks this range to the downside, the market may correct with the target at 2888.5, at least.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is approaching 8/8. In this case, the pair is expected to rebound from this level and then resume falling to reach the support at 6/8. However, this scenario may be canceled if the price breaks 8/8 to the upside. After that, the instrument may form one more ascending wave with the target at +1/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, NZDUSD is consolidating. In this case, today the price is expected to test 5/8, rebound from it, and then resume trading downwards to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the closest resistance at 6/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 3/8 from the H4 chart.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3930; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3960 and then resume moving downwards to reach 1.3845. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.4010. In this case, the pair may continue growing towards 1.4095.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2234; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2210 and then resume moving upwards to reach 1.2315. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2165. In this case, the pair may continue falling towards 1.2075.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.82; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.75 and then resume moving upwards to reach 108.25. Another signal is favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 107.50. In this case, the pair may continue falling towards 105.65.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Harami, close to the rising channel’s downside border, XAUUSD is reversing. If later the price rebounds from the border, the uptrend may resume. In this case, the upside target may be at 1777.00.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after finishing the correction and testing the rising channel’s downside border, NZDUSD has formed several reversal patterns not far from the support level and rebounded from it to the upside; right now, it is still moving upwards. The upside target remains at 0.6220.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after rebounding from the support level, forming a Hammer pattern, and reversing, GBPUSD has finished another correction and completed several more reversal patterns; right now, it is still growing. The upside target is at 1.2358. However, there is another scenario, which implies that the instrument may fall to return to 1.2010.

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the pair continues the correction after the convergence on MACD. During the correction, EURUSD has already tested 61.8% fibo twice. At the moment, the price is correcting to the downside after attempting to update its previous high. After completing this pullback, the asset may start a new rising impulse to reach 76.0% fibo at 1.1045. However, the key upside target remains at the high (1.1147). The support is the low at 1.0727.

In the H1 chart, after finishing the ascending wave, the pair started a local pullback, which has already reached 50.0% fibo. Possibly, the pair may yet continue falling towards 61.8% fibo at 1.0858 but a more probable scenario implies further growth to reach the high at 1.1008, which is confirmed by a local convergence on MACD.

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after the convergence, the pair has almost reached 38.2% fibo at 108.16. The next upside targets may be 50.0% and 61.8% fibo at 108.84 and 109.51 respectively. At the same time, there is a divergence on MACD, which may indicate a new decline after the asset reaches one of its target levels. The support is the low at 105.97.

As we can see in the H1 chart, the short-term decline has almost reached 38.2% fibo at 107.28 and may yet continue towards 50.0% fibo at 107.03. However, a more probable scenario implies that the instrument is expected to reach and break the high at 108.09.

On Tuesday morning, USDJPY continues the momentum but the horizon is quite hazy.

The Japanese Yen is falling against the USD amid low demand for “safe haven” assets. The current quote for the instrument is 107.83.

The statistics published in the morning showed that the SPPI added 1.0% y/y in April after being +1.6% y/y in March and against the expected reading of +1.3% y/y. The All Industries Activity lost 3.8% m/m against -0.7% m/m over the same period of time. Market expectations were -3.9% m/m.

Japan is ready to remove the state of emergency, at least in 5 regions, including Tokyo. Once the country is really thinking the quarantine measures aren’t necessary anymore, then the outbreak is retreating indeed.

However, it doesn’t mean that all restrictions that prevent the country’s population from mass contagion will be removed at once. But it’s still a sign of improved epidemiologic situation in Japan.

These days, when financial markets are calm and quiet, the Yen is barely in demand as s “safe haven” asset. However, it may appear temporarily.

On Tuesday morning, the major currency pair is growing pretty much, thus providing a signal for possible market sentiment changes.

EURUSD is rising quite quickly on Tuesday morning. The current quote for the instrument is 1,0918.

No significant statistics were published yesterday as the USA had a day off due to Memorial Day. However, today there will be plenty of numbers in the economic calendar to pay attention to.

In the morning, Germany is scheduled to report on the GfK Consumer Climate for June, which is expected to recover up to -19.1 points after being -23.4 points in May. Improvement of the indicator may signal that consumers are ready for removal of quarantine restrictions and that’s a good point for the country’s economy.

Later, the European Central Bank is going to present its Financial Stability Review. No one knows what the regulator will include in the report but it’s very unlikely that it may be something completely unknown to market players. All necessary signals are currently coming from the Euro Area’s finance ministers, who continue discussing a new fund worth 500-600 billion EUR.

In the afternoon, the USA will publish the New Home Sales report, which is expected to show a sharp decline down to 492K in April after being 627K in the previous month. The real estate market clearly has problems due to a several-months-long inactivity of consumers.

Apart from that, the USA is scheduled to report on the Conference Board Consumer Confidence, which may recover up to 87.1 points after being 86.9 points in April. If it’s true, it will be excellent support for the USD.

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking 5/8, EURUSD is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may continue growing to reach 8/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 3/8 from the H4 chart.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is consolidating below 4/8. The main scenario implies that the pair may break this level to the downside and then continue falling towards the closest support at 3/8. However, this scenario may no longer be valid if the price breaks at 4/8 to the upside. After that, the instrument may continue growing to reach the resistance at 5/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

EURUSD, “Euro vs US Dollar”

EURUSD is still trading downwards to reach 1.0880. After reaching it, the pair may start consolidating. If later the price breaks this range to the upside, the market may correct towards 1.0915; if to the downside – resume trading inside the downtrend with the target at 1.0825.

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching the predicted downside target at 1.2170, GBPUSD is consolidating around this level. Possibly, the pair may fall towards 1.2155. However, if the price breaks 1.2190 to the upside, the market may form one more ascending structure to reach 1.2222 and then resume trading downwards with the target at 1.2070.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is correcting to the upside towards 72.15. Later, the market may resume trading inside the downtrend with the short-term target at 69.50.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending structure at 107.70, USDJPY is expected to start another decline to break 107.25. After that, the instrument may continue falling with the short-term target at 106.66.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9717. According to the main scenario, the price is expected to continue growing towards 0.9737. Later, the market may start a new correction to reach 0.9669 and then form one more ascending structure with the target at 0.9750.

AUDUSD, “Australian Dollar vs US Dollar”

After reaching the correctional target at 0.6545, AUDUSD is expected to form a new descending structure towards 0.6478. Later, the market may start another correction to reach 0.6500 and then resume trading downwards with the target at 0.6444.

BRENT

Brent is still consolidating around 35.15. Possibly, today the pair may expand the range down to 33.33 and then resume trading upwards with the short-term target at 39.00.

XAUUSD, “Gold vs US Dollar”

After finishing the correctional wave at 1737.20, Gold is expected to form a new descending structure to break 1724.95. After that, the instrument may continue falling towards 1710.10 and then start another growth with the target at 1750.00.

BTCUSD, “Bitcoin vs US Dollar”

After rebounding from 9290.00 downwards and finishing another correctional structure at 8700.00, BTCUSD is expected to start a new growth to break 9300.00. Later, the market may continue trading upwards with the target at 9800.00.

S&P 500

After failing to break 2900.0 downwards, the Index has rebounded to the upside; right now, it is growing to reach 2980.0. Possibly, today the pair may break this level and then continue trading upwards with the target at 3012.3.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after growing towards the resistance level and forming a Shooting Star pattern, EURUSD has reversed. We may assume that after a slight correction the price may continue falling towards the channel’s downside border at 1.0850. At the same time, there is another scenario, which implies that the price may grow to reach 1.0995 without testing 1.0850.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after testing the rising channel’s downside border and forming a Hammer pattern, USDJPY has started to reverse. The current situation implies that after breaking the resistance level the asset may continue moving upwards. In this case, the upside target may be 108.40. However, there might be another scenario according to which the instrument may fall and return to 107.20.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after testing the resistance level and forming a Shooting Star pattern, EURGBP is reversing and may later correct towards 0.8900. After that, the instrument may continue the ascending tendency. In this case, the upside target may be at 0.8990. Still, one shouldn’t exclude an opposite scenario, which implies that the instrument may break 0.8900 and continue falling towards 0.8825.