USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 4/8 and then resume growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.

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”

As we can see in the H4 chart, USDCAD continues trading downwards. In this case, the price is expected to break 3/8 and then continue falling towards the closest support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow to reach the resistance at 5/8.

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

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2109; 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 1.2075 and then resume moving upwards to reach 1.2210. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2035. In this case, the pair may continue falling towards 1.1945. To confirm further growth, the asset must break the pattern’s upside border and fix above 1.2135.

NZDJPY, “New Zealand Dollar vs Japanese Yen”

NZDJPY is trading at 78.78; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 79.05 and then resume moving downwards to reach 77.95. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 79.45. In this case, the pair may continue growing towards 80.35.

EURAUD, “Euro vs Australian Dollar”

EURAUD is trading at 1.5730; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.5765 and then resume moving downwards to reach 1.5610. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.5805. In this case, the pair may continue growing towards 1.5915.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after a breakout of the high at 1.4241 and a divergence on MACD, the pair has started a new correctional decline. The above-mentioned breakout of the high may lead to a further uptrend towards the long-term high at 1.4376 as soon as the price completes the pullback. Later, the price may continue growing to reach the post-correctional extension area between 138.2% and 161.8% fibo at 1.4458 and 1.4594 respectively.

In the H1 chart, after falling and reaching 23.6% fibo, the asset is consolidating. The next downside correctional targets are 38.2% and 50.0% fibo at 1.4028 and 1.3960 respectively. The local resistance is the high at 1.4250, a breakout of which may lead to a further uptrend.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, EURJPY is correcting downwards before another attempt to reach its key high at 137.50. the current correctional targets are 23.6%, 38.2%, and 50.0% fibo at 131.17, 129.35, and 127.88 respectively. At the same time, a breakout of the current high at 134.12 will complete the correction and lead to a further uptrend.

As we can see in the H1 chart, after completing the descending wave, the pair is forming a short-term correction to the upside and has already tested 38.2% fibo. Later, the asset may continue growing towards 50.0% and 61.8% fibo at 133.51 and 133.65 respectively. The support is the low at 132.89.

EURUSD has fixed within a narrow range; investors are saving strengths before the ECB and FRS meetings.

The major currency pair continues consolidating on Wednesday. The current quote for the instrument is 1.2179.

The statistics published yesterday were quite interesting. For example, the revised GDP report for the first quarter of 2021 in the Euro Area showed -0.3% q/q against the expected reading of -0.6% q/q. that’s good news.

At the same time, businesses remain rather stressed. The ZEW Economic Sentiment dropped to 81.3 points after being 84.0 points before. The same indicator for Germany went from 84.4 points to 79.8 points.

The USA reported on the NFIB Small Business Index, which showed 99.6 points in May after being 99.8 points the month before.

Today’s economic calendar won’t offer many statistics important for EURUSD, so investors will continue saving strengths in anticipation of the upcoming ECB meeting scheduled for tomorrow. The regulator is highly unlikely to say something radically new about its monetary policy and economic outlook but investors prefer to wait and see.

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.2178; after expanding the range up to 1.2202 and rebounding from this level, it is falling to reach the downside border at 1.2144. Possibly, the pair may break the latter level as well and continue correcting downwards with the target at 1.2090.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating 1.4155; right now, it is falling towards 1.4104. Possibly, today the pair may break the latter level and continue falling towards 1.4014. Later, the market may start a new growth to return to 1.4104.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 72.35. After that, the instrument may start another correction to reach 73.05 and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 109.44; right now, it is growing towards 109.85. Today, the pair may break the latter level and form one more ascending structure with the target at 110.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.8991. Possibly, today the pair may resume growing towards the upside border of the range at 0.9010. Later, the market may break this level and then continue trading upwards with the target at 0.9107.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7747. Today, the pair may form a new descending structure towards the downside border of the range at 0.7701. After that, the instrument may break this level and continue trading downwards with the target at 0.7641.

BRENT

Brent is correcting towards 70.02 and may later form one more ascending wave to reach 72.02. After that, the instrument may break the latter level and then continue trading upwards with the target at 75.55.

XAUUSD, “Gold vs US Dollar”

Gold has completed the correctional wave at 1901.70. Today, the metal may form a new descending structure to break 1881.30 and then continue trading downwards to reach 1848.26. Later, the market may start another growth with the target at 1881.00.

S&P 500

The S&P index is consolidating around 4222.0. Possibly, today the asset may break this range to the upside and resume growing towards 4272.1. After that, the instrument may correct downwards to reach 4170.0 and then form one more ascending structure with the target at 4300.0.

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 7/8 and then continue moving upwards to reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. In this case, the instrument may reverse and fall towards the support at 2/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth to reach 7/8 from the H4 chart.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2178; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2195 and then resume moving downwards to reach 1.2085. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2225. In this case, the pair may continue growing towards 1.2315.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7746; 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 0.7735 and then resume moving upwards to reach 0.7855. Another signal in favor of a 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 0.7695. In this case, the pair may continue falling towards 0.7595. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7780.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 133.30; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 133.55 and then resume moving downwards to reach 132.30. Another signal in favor of a 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 134.05. In this case, the pair may continue growing towards 135.05.

USDJPY is slowly rising on Tuesday; investors are monitoring the news.

The Japanese Yen reversed against the USD and is falling on Tuesday morning. The current quote for the instrument is 109.47.

The statistics published by Japan in the morning were rather mixed. For example, the Bank Lending added 2.9% y/y in May after expanding by 4.8% y/y in April and against the expected reading of 5.6% y/y. A slowdown may be caused by the cautiousness of both businesses and consumers.

The Average Cash Earnings in Japan added 1.6% y/y in April after expanding by 0.6% y/y the month before and against the expected reading of 0.8% y/y. This is good news – a growth of the indicator will help households to spend more money.

The final GDP estimate for the first quarter of 2021 showed -1.0% q/q, which is better than both the expected reading (-1.2% q/q) and the previous estimate (-1.3% q/q). The Japanese economy is still fighting the pandemic consequences and deflation, which influence the GDP parameters.

The Economy Watchers Sentiment dropped to 38.1 points in May after being 39.1 points the month before. However, it is still better than the expected reading of 33.9 points.

The news is rather mixed and the Yen remains under slight pressure but USDJPY may change its direction later in the afternoon influenced by the statistics from the USA.

EURUSD stopped growing on Tuesday morning; the “greenback” is trying to recover its losses.

The major currency pair is consolidating on Tuesday. The current quote for the instrument is 1.2184.

The statistics published yesterday were in favor of the European currency. For example, the Sentix Investor Confidence improved to 28.1 points in June after being 21.0 points the month before and against the expected reading of 25.5 points.

Today is going to be rich in the news. In the afternoon, the Euro Area is scheduled to publish a revised report on the GDP for the first quarter of 2021. The previous estimate was -0.6% q/q and the second one is expected to be the same. In addition to that, there will be numbers on the ZEW Economic Sentiment for both the Euro Area and Germany.

It might be interesting to learn whether the indicator remains unchanged in Germany because in May it reached its all-time high.

Later in the afternoon, the USA is planning to report on its Trade Balance for April and the NFIB Small Business Index for May.

In the evening, investors’ attention will start switching slowly to the US Consumer Price Index for May to be published on Thursday. This is where it might start being very interesting.

EURUSD, “Euro vs US Dollar”

The H4 chart shows another rising impulse within the descending correction that earlier tested the local support at 61.8% fibo (1.2103). The current rising impulse might as well transform into a proper wave to reach the long-term high at 1.2350. At the same time, there is a divergence on MACD, which may indicate that the descending correction is not over yet and may continue down to the previously broken 50.0% fibo.

The H1 chart shows a more detailed structure of the current growth, which should be considered as a pullback after the previous descending wave. By now, it has reached 61.8% fibo and may later continue towards 76.0% fibo at 1.2218. After completing the pullback, the asset may start a new decline to break the low at 1.2104 and then reach the mid-term 38.2% fibo at 1.2051. The key resistance is at 1.2266.

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, the pair is steadily growing towards the local high at 110.97. Still, a local divergence on MACD made the pair fall and this decline may transform into a new descending wave to reach the mid-term 50.0% fibo at 106.78. On the other hand, a breakout of the local high will lead to a further uptrend towards the long-term high at 111.71.

The H1 chart shows the possible downside targets. The asset has already reached 38.2% fibo and may later continue falling towards 50.0%, 61.8%, and 76.0% fibo at 108.90, 108.57, and 108.17 respectively. The resistance is the local high at 110.33.