Trading recommendations for the EUR / USD currency pair as of June 7, 2018

Trading 07 juin 2018 Commentaire »

In the previous review, we already discussed that the pair is in the correction phase, drawing us forward movements in the amount of more than 300 points from May 30. Now the quotation has reached a periodic level of 1,1830, which on history worked quite well in the form of a mirror level of medium importance. What do we have in current hours? An interesting formation, a slowdown with low volatility, which can lead to the splash of volumes. If you look a little higher, we see that in the immediate vicinity there is a correction level of "Fibo" 38.2, which can give confidence to the bears.

Possible scenarios

The main idea lies on the growing bearish interest, where, in the case of a fix below 1.1800, we are drawn to 1.1760, with a possible refill to 1.1720.

The reverse scenario will be only after fixing the price above the level of Fibo 38.2, before laying down positions.

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Hope dies last

Trading 07 juin 2018 Commentaire »

The euro continued to strengthen its positions against the US dollar, even despite a rather weak report on the growth of the eurozone economy in the first quarter of this year, which indicated a slowdown in GDP due to a sharp drop in exports of goods and services.

According to the EU statistical agency Eurostat, the gross domestic product in the 1st quarter grew by 1.5% per annum, whereas previously reported a 1.6% increase. Let me remind you that in the 4th quarter of 2017, the economy of the eurozone showed an impressive growth of 2.8%.

This report as a whole was ignored by the market, as it did not carry any new information. All this was already known to experts and economists, and the difference of 0.1% did not play any role. Moreover, many market participants are encouraged by the recent statements of the representatives of the European Central Bank, which talked about the return of economic growth rates already in the second quarter of this year, which will lead to the complete completion of the bond redemption program already this fall and will support the European currency in the medium term.

Good growth in consumer spending failed to neutralize weak data on exports, which in the 1st quarter of 2018 decreased by 0.4% compared to the previous quarter.

Orders in the manufacturing sector in Germany in April fell, indicating a possible slowdown in the economy in the second quarter of this year. According to the report of the Ministry of Economy of Germany, demand for orders in the manufacturing sector in April fell by 2.5% compared to the previous month, while economists forecast their growth by 0.6%.

Data on the US labor market, released in the afternoon, did not have a serious impact on the market and were of a purely statistical nature.

Thus, the number of Americans who filed new applications for unemployment benefits last week, declined. This indicates a stable nature of the US labor market.

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According to the report of the US Department of Labor, the number of initial applications for unemployment benefits for the week from May 27 to June 2 decreased by 1,000 and amounted to 222,000. Economists predicted that the number of applications will be 220,000.

As for the technical picture of the EUR / USD pair, as I noted in the morning review, the whole accent is still shifted to resistance 1.1830, to break above which in the morning it was not possible. Given that important fundamental statistics are not scheduled for the second half of the day, demand for risky assets may continue, and a more sustained breakthrough in resistance at 1.1830 will enable the new large buyers to enter the market, which will lead the European currency to new and more serious monthly highs of 1.1880 and 1.1930.

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Trading recommendations for the AUD / USD currency pair on June 7, 2018

Trading 07 juin 2018 Commentaire »

The AUD / USD currency pair is in the correction phase of May 10, where it felt a support level of 0.7410. Earlier in the articles, it was already discussed that the pair is sluggish but surely building a correction. Now, we can see the full phase after gaining from the main level of 0.7500. Where is the quote now? After a little over 230 points, we reached a periodic range of 0.7650 / 0.7680. The level belongs to the weak class, but its upper bound is intertwined with Fibo to 38.2, which gives it more confidence and as a result slows down the quotation.

Possible variations

At this stage, I'm more inclined to a temporary stagnation in the range of 0.7630 / 0.7680, doing any actions is extremely risky, you can run into a banal wagging. It is better to consider pending orders. The continuation of the uptrend, after fixing the price higher than 0.7700, move to the next range level of 0.7800, in which also there is a Fibo value of 50.0. With the sale is not so simple, due to the fact that previously there was abundant oversold and current correction. This is some exhalation of the market, we come to the fact that the return to 0.7500 or even lower is possible only by segments, that is 0.7580 / 0 , 7500. At the moment, I would consider the sell stop below the value of 0.7580, so as not to run into a false fluctuation. For the best entry point, it is worth waiting for the current development. There may be an attractive stagnation from which you can dance.

Key Levels

Resistance zones: 0.7680 **; 0.7800 **

Support zones: 0.7650 **; 0.7580 *; 0.7500

* Periodic level

** Range level

Without an asterisk (*), the main levels are indicated

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The material has been provided by InstaForex Company - www.instaforex.com

Trading recommendations for the USD / CHF currency pair as of June 7, 2018

Trading 07 juin 2018 Commentaire »

The currency pair USD / CHF after a small stagnation, managed to continue the downward movement. Yesterday, we discussed that the congestion of 0.9850, reflecting to us the periodic level and the "Fibo" value of 23.6, slowed the quotation, forming on the market a slight stagnation of 0.9820 / 0.9890, on which attractive pending orders could be put. Now, we see that the lower limit of stagnation is 0.9820, this is the same as the fractal, fell, revealing to us the way to the subsequent point of 0.9770. It is likely to maintain a downward interest, where the quotation will try to approach the values of 0.9770 / 0.9730, forming a stagnation in the vicinity of these points, from which we will again issue orders.

Key Levels

Resistance zones: 0.9850; 0.9960 *; 1.0050 **

Support zones: 0.9770 *; 0.9730 ***

* Periodic level

** Range level

*** Fibo level 38.2

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The daily review of GBP / USD on June 7, 2018. Ichimoku Indicator

Trading 07 juin 2018 Commentaire »

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GBP / USD

The pound decided to realize the potential of a weekly rebound from 1.3205 (the week-old Senkou Span A). A significant guide now is the monthly Kijun (1.3502) and also the goal for the breakdown of the cloud H4. Further interest for the upward movement will be represented by the levels of the weekly cross and daytime cloud. At the moment, the final lines of the day cross are on the way of the players on the rise (Fibo Kijun 1.3466 + Kijun 1.3434). The most important support now is the daily short-term trend (1.3335), which combined its efforts with the H4 cloud. Intermediate support today should be noted in the area of 1.3400 (Fibo Kijun N4 + cloud H1).

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Indicator parameters:

All time intervals 9 - 26 - 52

The color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

Clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

The color of additional lines:

Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.

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LeBron James Rumors: Every Top NBA Team Could Pursue Basketball’s Best Player In Free Agency

Trading 07 juin 2018 Commentaire »
When LeBron James weighs his options in free agency, he could consider all of the NBA’s top teams. That includes the Golden State Warriors, Boston Celtics and Houston Rockets.

Who Is Cooke Maroney? Jennifer Lawrence Has ‘Great Chemistry’ With New Boyfriend

Trading 07 juin 2018 Commentaire »
Jennifer Lawrence may have exchanged pleasantries with her ex-boyfriend Darren Aronofsky last week but it appears the actress has moved on from the failed relationship and sparked a new romance. Lawrence is reportedly dating Cooke Maroney, the director of the Gladstone 64, a Gladstone Gallery in New York City. The “Red Sparrow” star appeared to be in great spirits and had a big smile on her face during their stroll on Tuesday.

Boy Scout’s ‘Fake Grenade’ Causes Security Scare At Houston Airport

Trading 07 juin 2018 Commentaire »
A security checkpoint was closed at a Texas airport on Thursday after officials discovered a suspicious device in one boy’s bag that turned out to be a toy.

Stolen Van Containing 14 Show Dogs Found, Recovered

Trading 07 juin 2018 Commentaire »
A total of 14 show dogs, and the van they were riding in, were stolen on Wednesday in California. However, according to the Redding Police Department, the case took a positive turn on Thursday afternoon. Redding police took to Twitter to announce that the van, along with all 14 dogs, were found. Most importantly, the dogs were completely unharmed. The missing van, and more importantly the 14 missing dogs, have been found!! More to follow!

How Stars Kavan Smith, Pascale Hutton Got Hallmark’s ‘Perfect Bride 2’ Made

Trading 07 juin 2018 Commentaire »
Hallmark Channel isn’t unaccustomed to giving sequels to its movies--just look at the recently premiered “Marrying Mr. Darcy” and the upcoming “Wedding March 4”--but that doesn’t mean every one of its many films gets the same opportunity. Luckily, “The Perfect Bride 2,” which premieres Saturday as part of the network’s June Weddings event, had stars Pascale Hutton (Molly) and Kavan Smith (Nick) championing the project to make it happen.