Amega daily market overview & news alerts

[AmegaFX]

NZDUSD 21.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.69360-0.69265 and it has a potential to reach the target zone №2 0.68410-0.68315. The best prices to try to have a short position are the control resistance zone 0.70272-0.70177. 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 0.70272-0.70177 (105 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]

GBPUSD overview 21.06.2021

GBPUSD surges ahead of Bank of England meeting.

GBPUSD rising strongly today under the growing sterling bullishness as well as the significant USD outflows as the markets continue to make sense of the FED comments made last week – which led to massive losses for this currency pair. The scale of the USD gains has triggered the current correction in USD sentiment – leading to GBPUSD gains. The pair is also driven up by the expectation of the more optimistic economic assessment from the Bank of England, which next meets on Thursday, – could push sterling towards $1.40 fast. In the meantime, investors brought forward bets that the BoE would raise interest rates sooner than they thought previously, flattening the yield curve for British government bonds and mirroring a recent move in U.S. Treasuries – which adds to the bullish pressure on GBPUSD.

Next resistance to watch – 1.1939

 

[AmegaFX]

GOLD 22.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1777.75-1773.25 and it has a potential to reach the target zone №2 1732.75-1728.25. The best prices to try to have a short position are the control resistance zone 1810.31-1805.81. 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 1810.31-1805.81 (500 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]

GOLD overview 22.06.2021

Gold falls ahead of Jerome Powell’s testimony.

Gold under bearish pressure on stronger dollar as the as investors turn their attention to U.S. Fed chief Jerome Powell’s testimony for cues on monetary policy. Today’s bearish tone continues the earlier sharp downward impulse in the wake of Fed’s surprise hawkish signal last Wednesday. Higher rates and bond yields reduce the opportunity cost of holding gold, a non-interest bearing asset. Powell, who will appear before Congress from 1800 GMT, in prepared remarks said inflation had “increased notably in recent months”. The boost in Fed growth and inflation forecasts, and improved labor market projections, could drive gold prices further down.

Next support to watch – 1760.00

 

[MYBROKERS.PRO]

My gold signal is still accurate

 

[AmegaFX]

GBPUSD 23.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.39044-1.38872 and it has a potential to reach the target zone №2 1.37324-1.37152. The best prices to try to have a short position are the control resistance zone 1.39756-1.39584. 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 1.39756-1.39584 (190 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]

EURUSD overview 23.06.2021

EURUSD rises on dovish Fed.

EURUSD under bullish pressure today on weaker dollar after U.S. Federal Reserve official Chair Jerome Powell reaffirmed tighter monetary policy was still soon to be implemented after a hawkish turn by the Fed last week caught Forex markets off guard. The policymakers have since softened their stance with Powell and New York Fed President John Williams warning the economic recovery requires more time before raising interest rates. “We will not raise interest rates pre-emptively because we fear the possible onset of inflation,” Powell said on Tuesday “We will wait for evidence of actual inflation or other imbalances.” The pair is also driven on moderate euro optimism after German and Eurozone Preliminary PMIs beat expectation.

Next resistance to watch – 1.200

 

[AmegaFX]

EURUSD 24.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.19143-1.19055 and it has a potential to reach the target zone №2 1.18263-1.18175. The best prices to try to have a short position are the control resistance zone 1.19438-1.19350. 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 1.19438-1.19350 (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.

 

[AmegaFX]

GBPUSD overview 24.06.2021

Sterling falls as BoE keeps rates at all-time low.

GBPUSD falling today after the Bank of England kept the size of its stimulus programme unchanged and left its interest rate at an all-time low of 0.1%, as expected. Economists expected no policy changes by the Bank of England as it waits to see if a post-lockdown jump in inflation proves transitory. Sterling investors have been focused on signs of any concern from the Bank of England over about a recent increase in UK inflation, which broke above the central bank’s 2% target. There is currently no sign in the minutes or statement that the MPC is considering an early end to QE – leading to sterling losses across all sterling-linked currency pairs.

Next support to watch – 1.3861

 

[AmegaFX]

USDJPY 25.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 111.180-111.057 and it is going to the target zone №2 112.292-112.178. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 110.014-109.905. 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 110.014-109.905 (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.