Month: May 2021

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 8/8 and continue growing to reach the resistance at +1/8. Still, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards 5/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is trading the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test +1/8, break it, and then continue growing towards the resistance at +2/8. However, this scenario may no longer be valid if the price breaks 8/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 7/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2075; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2095 and then resume moving downwards to reach 1.1925. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2135. In this case, the pair may continue growing towards 1.2225. To confirm further decline, the asset must break the support level and fix below 1.2030, thus breaking the pattern’s downside border.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1907.00; 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 1855.00 and then resume moving upwards to reach 1955.00. Another signal in favor of a 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 1835.00. In this case, the pair may continue falling towards 1795.00.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.4195; 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 1.4165 and then resume moving upwards to reach 1.4335. Another signal in favor of a 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 1.4075. In this case, the pair may continue falling towards 1.3985. To confirm further growth, the asset must break the resistance level and fix above 1.4235, thus breaking the upside border of a Triangle pattern.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the sideways tendency continues. After forming several reversal patterns, including Hammer, close to the support area, USDCAD may reverse and start a new growth towards 1.2155. After testing this level, the price may rebound and resume its descending tendency. However, an alternative scenario implies that the asset may fall to reach the support area at 1.2035 without reversing and correcting.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed several reversal patterns, such as Harami, not far from the support level. At the moment, the asset is reversing in favor of the ascending tendency. In this case, the upside target may be the resistance area at 0.7790. At the same time, an opposite scenario implies that the price may fall towards the support level at 0.7680, rebound from it, and then resume trading upwards.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset is still testing the resistance area, where it has formed a Harami reversal pattern. At the moment, USDCHF may reverse and start a new pullback. In this case, the correctional target may be the support level at 0.8976. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9055 without reversing and correcting.

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.2132 along with the correction towards 1.2202, EURUSD is expected to extend the correction up to 1.2220. Later, the market may resume trading downwards with the short-term target at 1.2075.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the correction towards 1.4210, GBPUSD is expected to form a new descending structure to break 1.4065. After that, the instrument may continue trading downwards with the first at 1.3970.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 73.13. After that, the instrument may start another correction to reach 73.51 and then resume trading downwards with the target at 72.22.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the correction at 109.63, USDJPY is expected to break the correctional channel and form one more ascending structure with the target at 110.33.

USDCHF, “US Dollar vs Swiss Franc”

After completing the correctional wave at 0.8986, USDCHF is expected to extend it down to 0.8970. Later, the market may resume trading upwards with the target at 0.9065.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is about to finish the correction at 0.7730. Today, the pair may form a new descending structure to reach 0.7666 and then start another correction with the target at 0.7730.

BRENT

Brent is still consolidating around 68.68. Today, the asset may expand this range up to 70.00. After that, the instrument may start a new correction to return to 68.68 and then form one more ascending structure with the target at 73.00.

XAUUSD, “Gold vs US Dollar”

After finishing the correction at 1900.00, Gold is expected to expand the current range up to 1921.00. Later, the market may form a new descending structure to break 1883.00 and then continue trading downwards with the target at 1844.40.

S&P 500

The S&P index is still consolidating around 4186.0; it has already expanded the range up to 4220.0. Possibly, today the asset may fall to return to 4186.0 and then resume trading upwards with the short-term target at 4315.0.

EURUSD is consolidating at the end of this extremely volatile spring; the USD lost 0.8% over three months.

The major currency pair is rather quiet and stable early in the week. The current quote for the instrument is 1.2192.

Spring of 2021 has been really volatile for EURUSD – stimulus programs continued making the “greenback” go down and market players just couldn’t find any reason for supporting the American currency. By the start of the summer, the market situation reached stability, more or less. No one is afraid of either an inflation boost in the USA or early termination of the Fed’s stimulus programs. Everything is slowly returning to normal.

The statistics published last Friday showed that the Personal Income in the USA dopped 13.1% m/m in April after adding 20.9% m/m the month before. The indicator lost less than expected, that’s why investors barely responded to the report. As everybody knows, in March the American population got checks from the government and this money quickly returned to the economy. In April, people had no such “gifts”, so the indicator corrected.

The Personal Spending, in its turn, added 0.5% m/m, the same as expected, after expanding by 4.7% m/m in the previous month.

The revised data on the UoM Consumer Sentiment showed 82.9 points in May against the preliminary and expected readings of 82.8 and 831 points respectively.

The USA is celebrating Memorial Day today, so no American statistics are planned.

EURUSD, “Euro vs US Dollar”

EURUSD is still forming a new consolidation range above 1.2184. Possibly, today the pair may break this range to the downside and resume falling to reach 1.2132. Later, the market may start another correction to return to 1.2184 and then resume trading downwards with the target at 1.2108.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.4146; it has already expanded the range up to 1.4202. Today, the pair may fall to break the downside border at 1.4107 and then continue trading downwards with the first target at 1.4000.

USDRUB, “US Dollar vs Russian Ruble”

After rebounding from 73.70, USDRUB is still falling towards 73.13. After that, the instrument may start another correction to reach 74.41 and then resume trading downwards with the target at 72.22.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending impulse at 109.90, USDJPY is consolidating below it. Possibly, the pair may correct towards 109.50 and then form one more ascending structure with the short-term target at 110.25. Later, the market may start another correction to return to 109.50 and then resume growing to reach 110.40.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9006 along with the correction towards 0.8970, USDCHF is expected to resume trading upwards with the first target at 0.9019.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the correctional wave at 0.7755. Today, the pair may resume falling to break 0.7722 and then continue trading downwards with the target at 0.7669.

BRENT

After rebounding from 67.83 and then breaking 69.00, Brent is still moving upwards; right now, it is consolidating around the latter level. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 71.40.

XAUUSD, “Gold vs US Dollar”

After finishing the descending impulse at 1887.97 along with the correction towards 1897.70, Gold is expected to form a new descending structure to break 1888.00. After that, the instrument may continue trading downwards with the short-term target at 1873.27.

S&P 500

The S&P index is still consolidating around 4150.0. Today, the asset may expand the range up to 4240.1 and then resume trading downwards to reach the downside border of the range at 4080.4. After breaking it, the instrument may continue falling with the target at 4000.0.

BRENT

In the H4 chart, Brent is moving within the “overbought area”. In this case, the pair is expected to rebound from +1/8 and resume falling towards the support at 7/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may reverse upwards and reach the resistance at +2/8.

As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from +1/8 from the H4 chart.

S&P 500

In the H4 chart, the S&P Index is also trading within the “overbought area” close to 8/8. In this case, the price is expected to rebound from this level and resume falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may move upwards to reach the resistance at +2/8.

As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume falling only after rebounding from 8/8 from the H4 chart.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2177; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2195 and then resume moving downwards to reach 1.2075. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2230. In this case, the pair may continue growing towards 1.2345. To confirm further decline, the asset must break the support level and fix below 1.2135, thus breaking the bullish channel.

NZDCHF, “New Zealand Dollar vs Swiss Franc”

NZDCHF is trading at 0.6513; 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 0.6495 and then resume moving upwards to reach 0.6635. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6435. In this case, the pair may continue falling towards 0.6335.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 109.86; 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 109.45 and then resume moving upwards to reach 110.50. Another signal in favor of a 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 109.05. In this case, the pair may continue falling towards 108.10.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the correction continues. After forming several reversal patterns, such as Shooting Star, close to the resistance level, XAUUSD is reversing and may form a new pullback to reach the support area at 1870.00. At the same time, an opposite scenario implies that the price may continue growing towards 1920.00 without testing the support area.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the correctional impulse continues. By now, NZDUSD has formed several reversal patterns, such as Shooting Star, close to the resistance level. The pattern materialization target may be the channel’s downside border at 0.7210. Later, the price may test this level, rebound from it, and resume moving upwards. However, an alternative scenario implies that the price may continue growing towards 0.7325 without testing the support level.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is correcting within the uptrend. By now, GBPUSD has formed several reversal patterns, such as Hanging Man, not far from the resistance area. At the moment, the pair may reverse and start a new pullback upwards. In this case, the next upside target after the pullback may be at 1.4290. Later, the instrument may break the resistance level and boost its ascending tendency. Still, there might be an alternative scenario, according to which the asset may return to 1.4100 before resuming the ascending tendency.