2018-06-15
Recently, the AUD/USD has been trading downwards. The price tested the level of 0.7459. According to the H1 time – frame, I found broken upward trendline in the background which is a sign that sellers are in control. I also found a potential end of the intraday bullish corrective phase which is a sign that AUD/USD may continue lower. My advice is to watch for potential selling opportunities. The downward target is set at the price of 0.740.
Resistance levels:
R1: 0.7539
R2: 0.7610
R3: 0.7650
Support levels:
S1: 0.7430
S2: 0.7393
S3: 0.7320
Trading recommendations for today: watch for potential selling opportunities.
Technical analysis of NZD/USD for June 15, 2018
2018-06-15
Overview:Pivot: 0.7075.
The NZD/USD pair didn't make significant movement last week. The bias remains bullish in the nearest term testing 0.7185 or higher. The NZD/USD pair continues to rise from the level of 0.6977 in the long term. It should be noted that the support is established at the level of 0.6977 which represents the 23.6% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.7057. So, buy above the level of 0.7057 with the first target at 0.7121 in order to test the daily resistance 1 and further to 0.7121. Besides, it might be noted that the level of 0.7185 is a good place to take profit because. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.6977, the stop loss should be placed at 0.6848.
Technical analysis of GBP/USD for June 15, 2018
2018-06-15
Overview:The GBP/USD pair opened below the weekly pivot point (1.3429). It continued to move downwards from the level of 1.3429 to the bottom around 1.3225. Today, the first resistance level is seen at 1.3429 followed by 1.3580, while daily support 1 is seen at 1.3225. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.3225. So it will be good to sell at 1.3250 with the first target of 1.3200. It will also call for a downtrend in order to continue towards 1.3106.
The strong daily support is seen at the 1.3106 level, which represents the double bottom on the H4 chart. According to the previous events, we expect the GBP/USD pair to trade between 1.3250 and 1.3106 in coming hours. The price area of 1.3300 remains a significant resistance zone. Thus, the trend is still bearish as long as the levels of 1.3300/1.3429 is not broken. On the contrary, in case a reversal takes place and the GBP/USD pair breaks through the resistance level of 1.3429, then a stop loss should be placed at 01.3475.
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