2018-06-27
GBP/JPY is approaching its ascending support line at 144.98 (61.8% Fibonacci extension, 76.4% & 78.6% Fibonacci retracement, horizontal swing low support) where we expect the price to bounce up from there, to its resistance at 146.60 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its corresponding ascending support line where we expect to see a similar bounce.
Buy above 144.98. Stop loss at 144.24. Take profit at 146.60.
EUR/USD analysis for June 27, 2018
2018-06-27
Recently, EUR/USD has been trading downwards. The price tested the level of 1.1623. According to the H1 time - frame, I found a potential end of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found a breakout of the upward trendline and bearish flag in the background, which is another sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1510.
Resistance levels: R1: 1.1700R2: 1.1750R3: 1.1785
Support levels: S1: 1.1615S2: 1.1858S3: 1.1530
Trading recommendations for today: watch for potential buying selling opportunities.
Analysis of Gold for June 27, 2018
2018-06-27
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,253.00. According to the H1 time - frame, I found that sellers are in control and that there is a broken intraday bearish flag. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,249.50, $1,235.85 and at the price of $1,228.75.
Resistance levels: R1: $1,267.35R2: $1,274.85R3: $1,280.35
Support levels: S1: $1,254.35S2: $1,248.87S3: $1,241.35
Trading recommendations for today: watch for potential selling selling opportunities.
Technical analysis of EUR/USD for June 27, 2018
2018-06-27
Overview:The EUR/USD pair is still trading below the level of 1.1734. The EUR/USD pair has found strong support at the level of 1.1543. So, the strong support has been already encountered at the level of 1.1543 and the pair is likely to try to approach it in order to test it again and form a double bottom. Hence, the EUR/USD pair is continuing to trade in a bullish trend from the new support level of 0.9660; to form a bullish channel. According to the previous events, we expect the pair to move between 1.1662 and 1.1543. Also, it should be noted that major resistance is seen at 1.1734, while immediate resistance is found at 1.1662. Then, we may anticipate potential testing of 1.1662 to take place soon. Moreover, if the pair succeeds in passing through the level of 1.1662, the market will indicate a bullish opportunity above the level of 1.1617. A breakout of that target will move the pair further upwards to 1.1662. Buy orders are recommended above the area of 1.1617 with the first target at the level of 1.1662 and continue towards 1.1698. On the other hand, if the EUR/USD pair fails to break out through the resistance level of 1.1662; the market will decline further to the level of 1.1490.
Technical analysis of USD/CHF for June 27, 2018
2018-06-27
Overview:The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9943, the market will indicate a bearish opportunity below the new strong resistance level of 0.9943 (the level of 0.9943 coincides with a ratio of 78.6% Fibonacci). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9943, so it would be good to sell at 0.9940 with the first target of 0.9795. It will also call for a downtrend in order to continue towards 0.9733. The daily strong support is seen at 0.9733. On the other hand, the stop loss order should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.9994.
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