FOREX SIGNALS

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7231; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7245 and then resume moving downwards to reach 0.7150. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7275. In this case, the pair may continue growing towards 0.7365. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7195.

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 155.30; 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 154.75 and then resume moving upwards to reach 156.75. 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 154.05. In this case, the pair may continue falling towards 153.15. To confirm further growth, the asset must break the descending channel’s upside border and fix above 155.75.

AUDCAD, “Australian Dollar vs Canadian Dollar”

AUDCAD is trading at 0.9336; 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 0.9365 and then resume moving downwards to reach 0.9215. 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 0.9385. In this case, the pair may continue growing towards 0.9475.

AUDUSD is moving downwards on Wednesday after a quite successful trading session earlier.

The Australian Dollar is falling against the USD on Wednesday. The current quote for the instrument is 0.7737.

The statistics published today showed that the Australian GDP was 1.8% q/q in the first quarter of 2021 after being 3.2% q/q in the previous quarter and against the expected reading of 1.5% q/q. On YoY, the indicator showed 1.1%, which is also better than expected.

This proves that the Australian economy is back to its pre-pandemic growth rates and continues its active recovery. The economic growth is supported by an increased production output thanks to the expansion of private investments.

In addition to that, there is a burst of activity in the real estate sector and household spending (+0.7%).

It is expected that consumers will become more active after all social restrictions are removed, thus helping the economy to recover more quickly.

Today’s local decline in AUDUSD may be caused by some technical factors because, from the fundamental point of view, the situation for the Aussie is quite favorable and may help the national currency to rise in the mid-term.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, a divergence on MACD is making the pair start a new correctional decline after reaching the local high at 1.4241. However, a 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 above-mentioned pullback, which may reach the local support at 61.8% fibo. An alternative scenario implies that the price may continue falling towards the local low at 1.3669 and extend this correction down to 38.2% fibo at 1.3643.

The H1 chart shows the potential correctional targets – 23.6%, 38.2%, and 50.0% fibo at 1.4113, 1.4028, and 1.3960 respectively. The local resistance is the high at 1.4250.

EURJPY, “Euro vs. Japanese Yen”

In the daily chart, after fixing above 76.0% fibo, EURJPY is still trading upwards to reach its key high at 137.50. At the same time, a divergence on MACD may hint at a possible descending correction after the price reaches its target and rebounds from it. The short-term target of this correction may be the support at 61.8% fibo (128.66).

As we can see in the H4 chart, after reaching 134.12, the pair is slowing down. One shouldn’t exclude a breakout of this level but the most probable scenario implies a new correction towards 23.6%, 38.2%, and 50.0% fibo at 131.17, 129.35, and 127.88 respectively.

EURUSD managed to rise last night, the “greenback” is under pressure from Biden’s budget plans.

The major currency pair reached stability on Tuesday after a quite volatile Monday evening. The current quote for the instrument is 1.2239.

Yesterday’s trading session was pretty quiet until the evening when financial markets turned their backs on the USD again.

One of the negative drivers for the American currency was a budget plan offered by the White House and Joe Biden, which implies increasing government expenditures (up to $6 trillion) in the 2022 financial year that starts on October 1st, 2021. At the same time, they proposed to cancel several taxes introduced by the former President, for example, put a corporate tax and a tax on capital gains back to 28% and 39.6% respectively.

However, capital markets obviously believe that the initiative to remove some taxes will be surely followed by additional taxes for companies and businesses in order to give back gains to the budgets.

Today’s economic calendar is going to be very busy. In the afternoon, the Euro Area is scheduled to report on the Manufacturing PMI, the Unemployment Rate, and the CPI Flash Estimate for May.

The USA is planning to report on the Markit Manufacturing PMI, the ISM Manufacturing PMI, the Construction Spending, and the ISM Manufacturing Prices. In addition to that, several FOMC members are scheduled to speak.

All these factors taken together may make the major currency pair extremely volatile later in the evening.

AUDUSD continues growing after the RBA finished its meeting and published some statistics.

The Australian Dollar continues rising against the USD on Tuesday morning. The current quote for the instrument is 0.7762.

During its June meeting, the Reserve Bank of Australia decided to keep its monetary policy unchanged, just as expected. The benchmark rate remained intact at the lowest level of 0.10.

In the comments, the RBA said that the global economy continued recovering after the coronavirus pandemic and may show good results both this and next year. However, the recovery process is rather unbalanced because a lot of countries are still fighting the COVID-19.

According to the RBA, prices in the country are higher than at the beginning of the year but the core inflation remains rather low, at least lower than the regulator’s target value. At the same time, mid-term inflation expectations moved away from their all-time lows and are slowly approaching the target level. It happens with a lot of global Central Banks.

The RBA believes that the national economy is recovering faster than expected and the major scenario implies the Australian GDP to add 4.75% in 2021 and 3.75% in 2022. These forecasts are based on the regulator’s fiscal measures and quite favorable financial conditions. However, the possibility of new coronavirus cases remains a risk factor, which is assumed to be minimized by an aggressive vaccination campaign.

The RBA’s tone was quite positive for the Aussie. Another thing that helps AUDUSD to rise is the weak “greenback”.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2227; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2195 and then resume moving upwards to reach 1.2355. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2155. In this case, the pair may continue falling towards 1.2065.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1915.00; 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 1900.00 and then resume moving upwards to reach 1970.00. 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 1865.00. In this case, the pair may continue falling towards 1825.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7739; 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 0.7750 and then resume moving downwards to reach 0.7625. 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 0.7805. In this case, the pair may continue growing towards 0.7905.

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the uptrend continues. After testing the support area, the pair has formed several reversal patterns, including Doji and Engulfing. At the moment, EURUSD may reverse and start a new growth towards the resistance level. In this case, the upside target may be at 1.2295. However, an alternative scenario implies that the price may correct to reach 1.2180 first and then resume growing.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the asset is reversing and may soon resume its growth. In this case, the upside target is the resistance level at 110.35. At the same time, an opposite scenario implies that the price may start a new pullback towards 109.15 before resuming its ascending tendency.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming several reversal patterns, such as Inverted Hammer, close to the support area, EURGBP may reverse and fall to reach the resistance level. In this case, the upside target may be at 0.8630. Later, the market may rebound from this level and resume falling. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8570 without reversing and correcting.

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 continue moving upwards and reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.

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 8/8, break it, and then continue growing to reach the resistance at +1/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. In this case, the instrument may correct 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 its growth.

EURUSD, “Euro vs US Dollar”

After completing the correctional wave at 1.2231, EURUSD is falling again. Possibly, the pair may reach 1.2132 and break it. Later, the market may continue trading downwards with the target at 1.2062.

GBPUSD, “Great Britain Pound vs US Dollar”

After expanding its consolidation range up to 1.4266, GBPUSD is forming a new descending structure to break 1.4166. After that, the instrument may continue trading downwards with the target at 1.4101.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating above 73.13. Possibly, today the pair may correct towards 73.86 and then resume falling to reach 72.54. After that, the instrument may start another correction to test 73.13 from below and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the correction at 109.32, USDJPY is consolidating above this level. Today, the pair may grow to break 109.85 and form one more ascending structure with the target at 110.35.

USDCHF, “US Dollar vs Swiss Franc”

After completing the correctional wave at 0.8980, USDCHF is expected to extend it down to 0.8975. Later, the market may resume trading upwards to break 0.9037 and then continue growing with the target at 0.9101.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the correction at 0.7762; right now, it is falling to break 0.7680. After that, the instrument may continue trading downwards with the target at 0.7603.

BRENT

Brent is still growing towards 70.25. After that, the instrument may start a new correction to reach 69.00 and then form one more ascending structure with the target at 72.20.

XAUUSD, “Gold vs US Dollar”

Gold is growing to reach 1914.24; in fact, it is consolidating at the top. Today, the metal may form a new descending structure to break 1868.55 and then continue trading downwards with the target at 1809.50.

S&P 500

The S&P index is still consolidating around 4186.0. Possibly, the asset may expand the range up to 4272.1. Later, the market may fall towards 4168.2 and then resume trading upwards with the target at 4297.3.