Amega daily market overview & news alerts

[AmegaFX]

GBPUSD overview 08.06.2021

Sterling falls on reopening concerns.

Sterling falling today as the investors are starting to be concerned about the timing of UK reopening after Matt Hancock, UK Secretary of State for Health of the United Kingdom, said the Government is ‘absolutely open’ to delaying lockdown easing. He acknowledged that the rise in delta variant cases may delay the government’s plan to lift most remaining lockdown restrictions on June 21. He also said he wouldn’t rule out continuing measures such as face masks in public settings and working from home where possible – jeopardising the prospects of the full recovery that has been underpinning sterling for the last weeks. The other part of the pair – USD – is also driving the pair down on the rising USD bullishness on signs the upcoming inflation data from USA might prompt Fed to move toward rising the interest rates in USA.

Next support to watch – 1.4085

 

[AmegaFX]

USDCHF 09.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.90215-0.90109 and it has a potential to reach the target zone №2 0.89153-0.89050. The best prices to try to have a short position are the control resistance zone 0.90660-0.90554. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 0.90660-0.90554 (120 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[AmegaFX]

Watch out for the upcoming ECB Interest Rate Decision announcement and its impact on EURUSD & other EUR pairs.

 

[AmegaFX]

USDJPY 10.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 109.958-109.837 and it is going to the target zone №2 111.180-111.057. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 109.243-109.136. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 109.243-109.136 (120 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[ForexWarrior2020]

Interesting, do you take into account what the dollar index is doing?

 

[AmegaFX]

EURUSD overview 10.06.2021

EURUSD falls on robust US CPI.

EURUSD falling today on the strong U.S. dollar inflows after US CPI beat estimates with 5% and Core CPI reached 3.8%. The pair is also pressured down after ECB left its rates unchanged and refrained from tapering. The ECB further noted that it will continue to conduct net asset purchases under Pandemic Emergency Purchase Programme (PEPP) with a total envelope of €1,850 billion until at least the end of March 2022. Lagarde added that “ECB stands ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry.” This is leading the traders to expect the rates to remain on hold in Eurozone – adding to the bearish pressure on EURUSD.

Next support to watch – 1.2105

 

[AmegaFX]

USDCAD 11.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.21404-1.21242 and it has a potential to reach the target zone №2 1.19804-1.19646. The best prices to try to have a short position are the control resistance zone 1.21899-1.21736. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.21899-1.21736 (175 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[AmegaFX]

Interesting, do you take into account what the dollar index is doing?

Hello @ForexWarrior2020!

Thank you for your question.
In our opinion the DXY is gathering strength to go down. Perhaps a good idea would be to have positions directed against DXY, for example gold, EURUSD and etc. The key level in DXY is 90.30. In case the price is fixed upper the level the idea will be canceled.

Please keep in mind that our analyses are intended for educational/informational purposes only, and do not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations.

 

[AmegaFX]

GOLD overview 11.06.2021

Gold falls on stronger dollar.

Gold falling today on the strong U.S. dollar inflows as inflation concerns are starting to strengthen among the investors. Data showed U.S. consumer prices rose strongly in May, leading to the biggest annual increase in nearly 13 years, while jobless claims dropped to their lowest in nearly 15 months last week. The dollar index rose today reducing gold’s appeal for investors holding other currencies and adding to the bearish pressure on the precious metal. Focus now shifts to Fed’s June 15-16 policy meeting – which should give clues on to how the Fed will handle the overheating USA economy – which would be an important signal for gold prices.

Next support to watch – 1869.00

 

[AmegaFX]

EURUSD 14.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.20903-1.20815 and it has a potential to reach the target zone №2 1.20023-1.19935. The best prices to try to have a short position are the control resistance zone 1.21893-1.21805. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.21893-1.21805 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.