EUR/USD: еuro tested the borders of consolidation range

EUR/USD: еuro tested the borders of consolidation range

Recommendation: SELL 1,117 SL 1,1225 TP1 1,11 TP2 1,1025.  

On the EUR/USD daily chart, neither bulls nor bears managed to force the quotes out of the consolidation range 1.117-1.129. The retest of its upper or lower borders might be successful. If the resistance at 1.119 is broken, there will be a continuation of the rally towards 1.1345. In contrast, a successful test of the support at 1.117 will likely result in a drop towards 1.111 and below.

On the EUR/USD hourly chart, the Expanding wedge pattern was formed. The growth of quotes towards 38.2%, 50% and 61.8% levels of the wave 4-5, followed by their return to 23.8%, 38.2%, and 50% levels can be used for opening positions for sale. 


USD/CAD: the fights around 1.28

A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.

Gold is moving in channels

Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…

USD/JPY: the Dollar reached 111.50

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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