2018-06-25
Daily Outlook
In April 2018, the short-term outlook turned to become bearish when the EUR/USD pair maintained trading below the broken uptrend as well as the lower limit of the depicted consolidation range.
Initially, Bearish persistence below the price level of 1.2200 allowed further bearish decline towards the price levels of 1.1990 and 1.1880.
The price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established. However, the EUR/USD bulls failed to pursue towards higher bullish targets.
Instead, further bearish momentum was expressed in the market.
Recently, the price zone (1.1850-1.1750) offered significant bearish rejection and a valid SELL entry. Bearish target around 1.1520 has already been reached on Thursday.
On the other hand, the price zone of 1.1520-1.1420 was considered a prominent bullish demand where a valid bullish BUY entry was offered during last week's consolidations.
Bullish target levels are located around 1.1650 and probably 1.1740 (lower limit of the depicted supply zone).
Hence, the EUR/USD pair remains trapped between the depicted key-levels 1.1520 and 1.1750 until a breakout occurs in either direction.
A bearish breakdown below 1.1400 might occur if enough bearish pressure is applied. This can potentially enhance further bearish decline towards 1.1270 (recent consolidation range and demand level).
Intraday technical levels and trading recommendations for NZD/USD for June 25, 2018
2018-06-25
Since January, the price zone of 0.7310-0.7380 has been standing as a significant supply zone during the recent bullish pullback. The bulls failed to execute a successful breakout above 0.7400 during previous consolidations.
The NZD/USD pair had been trapped between the price levels of 0.7170 and 0.7350 until a bearish breakdown of 0.7200 occurred.
Since April 13, significant bearish pressure has been applied. This probably turns the short-term outlook for the NZD/USD pair into bearish giving considerable significance to the multiple-top reversal pattern.
That's why, a bearish breakdown of 0.7220-0.7170 (the neckline zone) was needed to confirm the depicted reversal pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already.
The bearish scenario needed obvious bearish persistence below 0.7050 to maintain significant bearish momentum towards 0.6860 and 0.6820. That's why, the price level of 0.7050 was considered a key level for the NZD/USD bears.
As anticipated, the recent bullish pullback towards the price level of 0.7050 (Broken Demand Level) offered a good opportunity for sellers to have a valid SELL entry. It's already running in profits. S/L should be lowered to 0.6925 to secure some profits.
Currently, the price levels of 0.6820-0.6780 are the next destination for the NZD/USD pair to be reached. These price levels should be watched for bullish rejection and a target level for current sellers.
EUR/USD analysis for June 25, 2018
2018-06-25
Recently, EUR/USD has been trading sideways at the price of 1.1647. . According to the H1 time - frame, I found a fake breakout of resistance at the price of 1.1647, which is a sign that buying looks risky. I also found a symmetrical triangle in creation, which is a sign that the market is in a consolidation phase. Anyway, since I found the potential end of the upward correction, my advice is to watch for potential selling opportunities if you see a valid brerakout of the symmetrical triangle. The downward targets are set at the price of 1.1576 and at the price of 1.1510.Resistance levels:
R1: 1.1669R2: 1.1678R3: 1.1683
Support levels: S1: 1.1655S2: 1.1650S3: 1.1641Trading recommendations for today: watch for potential selling opportunities.
USD/CHF analysis for June 25, 2018
2018-06-25
Recently, USD/CHF has been trading downwards. The price tested the level of 0.9868. According to the H1 time - frame, I found potential end of the downward correction (abc flat), which is sign that selling looks very risky. I also found a hidden bullish divergence and the falling wedge, which is another sign of strength. My advice is to watch for potential buying opportunities if you see a valid breakout of supply trendline. The upward targets are set at the price of 0.9923 and at the price of 0.9983.Resistance levels:
R1: 0.9886R2: 0.9892R3: 0.9897
Support levels: S1: 0.9875S2: 0.9870S3: 0.9864
Trading recommendations for today: watch for potential buying opportunities.
Trading Plan for EUR/USD for June 25, 2018
2018-06-25
Technical outlook:
The EUR/USD pair should be looking to carve a lower top around 1.1720/40 levels and for this to hold true, 1.1850 resistance should hold. According to the wave labels shown above, a higher degree wave (4) looks to have terminated at 1.1850 levels and if this holds well, we must see lower tops and lower bottoms going forward, as wave (5) progresses. On the other hand, if a more complex wave (4) is to form, prices may rise through 1.2000/50 levels before turning lower again. At this point in time, a high probability is to watch out for a bearish reversal around 1.1720/40 levels, shown by the Fibonacci ratios as well. Please note that until prices stay below 1.1850 levels, we assume that wave (5) should progress lower and wave 2 is being worked upon right now.
Trading plan:
Look to sell around 1.1720/40, stop at 1.1851, target 1.1300 and 1.1200
Fundamental outlook:
There are no major fundamental events lined up for the day.
Good luck!
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