Amega daily market overview & news alerts

[AmegaFX]

Hello traders and investors!
In this thread, we will be publishing daily market analysis as well as news alerts for significant events that are likely to affect financial markets volatility. We hope you will find these posts useful and we would very much appreciate your feedback and comments. Please keep in mind that our analysis 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 28.05.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1905.61-1901.11 and it is going to the target zone №2 1950.61-1946.11. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1867.75-1863.25. 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 1867.75-1863.25 (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 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.

 

[AmegaFX]

EURUSD 28.05.2021

EURUSD falls on strong US data.

EURUSD fall strongly today as the result of the powerful bullish U.S. dollar sentiment after USA showed the robust data describing the quickly recovering economy and the heating inflationary pressures in USA. Core PCE inflation jumped to 3.1% in April vs. 2.9% expected. Other figures also show a steaming hot economy. Higher than expected inflation data would be putting immense pressure on the Fed to start thinking of hiking the interest rates in USA – any hint of which would be a very strong sell signal for this currency pair. The dollar is also underpinned by the reports that President Joe Biden will seek $6 trillion in federal spending for the 2022 fiscal year.

Next support to watch – 1.2050.

 

[AmegaFX]

EURUSD 31.05.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1.22361-1.22273 and it is going to the target zone №2 1.23241-1.23153. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.21783-1.21695. 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 1.21783-1.21695 (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 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.

 

[AmegaFX]

Watch out for the upcoming Reserve Bank of Australia Interest Rate Decision announcement and its impact on AUDUSD & other AUD pairs.

 

[AmegaFX]

BRENT 31.05.2021

Oil rises on lowered output.

Oil continues to rise today as the global demand for oil continues to improve with multiple countries lifting the travel restrictions and the travel season approaching. The travel boom expected this summer – due to European countries allowing their vaccinated citizens to travel freely across the union – is expected to push oil prices even further. Besides this the latest output easing from OPEC+ was offset by the lowered output form the other suppliers. The biggest drop was in Nigeria, where exports slowed from a number of terminals. Angolan supply also declined. Iran, which has managed to raise exports since the fourth quarter despite U.S. sanctions, exported less in May due to lower demand in China.

Except buyers on downward corrections.

Next resistance to watch – 70.00

 

[AmegaFX]

AUDUSD 01.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.77106-0.77016 and it has a potential to reach the target zone №2 0.76206-0.76116. The best prices to try to have a short position are the control resistance zone 0.77761-0.77671. 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 0.77761-0.77671 (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 01.06.2021

Sterling falls on Covid-19 fears.

Sterling falling today primarily under the effect of the strongly bearish sterling sentiment as investors turned more cautious amid fears around the spread of Covid-19 variants in Britain. Traders are concerned that a Covid-19 variant, first found in India, which is currently forming the hotspots across UK could delay the next phase of the reopening on June 21 – which should halt the economic recovery in United Kingdom. These fears triggered the wide scale take-profit run across all of the GBG-linked currency pairs. The earlier failure to break conclusively above the powerful long term resistance level 1.4235 also added to the bearish pressure on this currency pair.

Next support to watch – 1.4085

 

[davtrent55]

Freedom Day in the UK is on a knife edge. I see it being delayed another month

 

[AmegaFX]

USDJPY 02.06.2021

Medium-termtrend: 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 109.116-109.009. 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 109.116-109.009 (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.