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EURUSD 24.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.19143-1.19055 and it has a potential to reach the target zone №2 1.18263-1.18175. The best prices to try to have a short position are the control resistance zone 1.19438-1.19350. 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.

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Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.19438-1.19350 (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.

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GBPUSD overview 24.06.2021

Sterling falls as BoE keeps rates at all-time low.

GBPUSD falling today after the Bank of England kept the size of its stimulus programme unchanged and left its interest rate at an all-time low of 0.1%, as expected. Economists expected no policy changes by the Bank of England as it waits to see if a post-lockdown jump in inflation proves transitory. Sterling investors have been focused on signs of any concern from the Bank of England over about a recent increase in UK inflation, which broke above the central bank’s 2% target. There is currently no sign in the minutes or statement that the MPC is considering an early end to QE – leading to sterling losses across all sterling-linked currency pairs.

Next support to watch – 1.3861

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USDJPY 25.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 111.180-111.057 and it is going to the target zone №2 112.292-112.178. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 110.014-109.905. 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.

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Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 110.014-109.905 (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.

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GOLD overview 25.06.2021

Gold rising on inflation concerns.

Gold rising Friday as a preliminary deal on U.S. infrastructure spending added to dollar bearishness, while investors awaited inflation data. The spending plan should be positive for gold, as it has to be financed to a large extent with higher debt. Progress on the plan weighed on the dollar, making gold cheaper for those holding other currencies, ahead of U.S. producer price data that could show a clearer picture on rising inflation. Fed warned on Thursday that inflation could rise more than policymakers’ expectation near term, after Fed chief Jerome Powell said it would not be the only determinant of interest rate decisions. The upcoming inflation data will directly affect gold prices.
Expect buyers on downward corrections.

Next resistance to watch – 1795.00

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USDCAD 28.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.23177-1.23010 and it has a potential to reach the target zone №2 1.21530-1.21368. The best prices to try to have a short position are the control resistance zone 1.24364-1.24194. 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.

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Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.24364-1.24194 (190 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.

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GBPYSD overview 28.06.2021

Sterling rises on calls for lifting of COVID restrictions.

GBPUSD under the bullish pressure today after Britain’s new health minister, Sajid Javid, said he wants all COVID-19 restrictions lifted as soon as possible. As a former finance minister Javid will be more sensitive to the costs suffered by the economy of lockdowns and therefore more likely to insist on lifting the restrictions – which would be positive for the sterling. Investors this week will also be watching a dispute between Britain and the European Union over post-Brexit trade in Northern Ireland. Daily positive cases have been rising for a month in Britain but accelerated vaccination programme have weakened the link between infections and deaths, with daily fatalities remaining about 20 or lower – making the sterling the relative winner in the eyes of the markets.
Expect buyers on downward corrections.

Next resistance to watch – 1.3990

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NZDUSD 29.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.70272-0.70177 and it is going to the target zone №2 0.71222-0.71127. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.70000-0.69905. 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.

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Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.70000-0.69905 (105 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.

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AUDUSD overview 29.06.2021

AUDUSD drops on dollar gains.

AUDUSD under the bearish pressure today on widespread dollar gains on safe-haven inflows as coronavirus outbreaks threatens to damage global economic recovery across the world. Concerns over the spread of the highly infectious Delta variant are damaging risk sentiment after the Fed shocked traders with a hawkish tilt earlier this month. Indonesia is coping with record-high cases, while Malaysia is set to extend a lockdown and Thailand has announced new restrictions. Spain and Portugal are imposing travel restrictions on unvaccinated UK travellers. The Australian dollar is being sold heavily due to the same risk-averse behaviour right now.

Expect seller on upward corrections.

Next support to watch – 0.7490

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BRENT 30.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 74.442-74.200 and it is going to the target zone №2 76.867-76.625. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 73.289-73.047. 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.

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Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 73.289-73.047 (265 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.

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BRENT overview 30.06.2021

Oil rises on lower stockpiles in U.S.

Oil under the bullish pressure today after the released data indicated U.S. crude stockpiles were shrinking and an OPEC report predicted an undersupplied market this year. Crude stocks in the United States were down by 8.2 million barrels, American Petroleum Institute data showed. Bullish pressure on oil intensified after Mohammad Barkindo, Secretary General of OPEC said on Tuesday that demand is expected to rise by 6 million barrels per day (bpd) in 2021, with 5 million bpd of that coming in the second half of the year .In addition to this OPEC+ is expected to discuss extending its deal on cutting oil supply beyond April 2022, after a panel set up by the group warned of “significant uncertainties” and the risk of an oil glut next year – which is also adding to the bullish pressure on oil.

Expect buyers on downward corrections.

Next resistance to watch – 75.65

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EURUSD 01.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.18263-1.18175 and it has a potential to reach the target zone №2 1.17383-1.17285. The best prices to try to have a short position are the control resistance zone 1.19413-1.19330. 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.

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Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.19413-1.19330 (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.

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GOLD overview 01.07.2021

Gold rises on safe-haven inflows.

Gold under the bullish pressure today on safe-haven appeal as markets are starting to focus more on the spread of the Delta variant of the Covid019 virus, which has been practically absent from markets radar over the last few weeks – due to the positive effects of the mass vaccination in the developed world. Now this is clearly changing. Rising cases of the Delta variant have prompted France to delay the easing of restrictions in the Landes region and infections have also surged in Asia. If the rise of the variant forces authorities to introduce new lockdowns, especially in Europe and the United States, that would be a very bullish signal for the gold. Also on investors’ radar is Friday’s U.S. nonfarm payrolls data that could provide additional clues on timeline for Fed’s shift in monetary policy – also crucial for gold prices

Expect buyers on downward corrections.

Next resistance to watch – 1795.6918

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USDCHF 02.07.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.92642-0.92531 and it is going to the target zone №2 0.93789-0.93675. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.91594-0.91485. 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.

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Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.91594-0.91485 (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.

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USDCHF 02.07.2021

Swiss franc firms on safe-haven demand.

Swiss franc under the bearish pressure today under the effect of the risk-off sentiment – as worries over the spread of the Delta coronavirus variant are emerging in various corners of global financial markets and are adding to the safe-haven inflows into the Swiss franc and the gold. The highly contagious Delta variant is surging through Asia this week, with record numbers of infections in Australia and South Korea, prompting some countries to tighten curbs and others to hasten vaccination. World Health Organisation warned recently that Delta variant could soon become the dominant form of the virus. It is also driving a spike in cases in Japan, casting a pall over this month’s Olympic Games. On Friday, Australia reported the biggest daily rise in new cases so far this year – adding to the risk–off sentiment and to the inflows to the Swiss franc.

Expect sellers on upward corrections.

Next support to watch – 0.9207

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EURUSD 05.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.18263-1.18175 and it has a potential to reach the target zone №2 1.17383-1.17285. The best prices to try to have a short position are the control resistance zone 1.19036-1.18948. 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.

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Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.19036-1.18948 (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.

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USDCAD overview 05.07.2021

USDCAD rises on CAD weakness.

USDCAD under the bullish pressure today as the result of the strong bearish Canadian dollar sentiment seen across the fx markets today – as trader attention turned to the release of the summer issue of the Bank of Canada’s Business Outlook Survey. The Business Outlook Survey is due for release at 1430 GMT later today. It could offer clues on the Bank of Canada’s policy outlook, with some analysts expecting the bank to cut bond purchases again at next week’s policy announcement – which would be bearish for CAD. The pair is also driven up by safe-haven inflows into the U.S. dollar on worries about spread of the Delta variant of COVID-19 across the globe.

Expect buyers on downward corrections.

Next resistance to watch – 1.245

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NZDUSD 06.07.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.70510-0.70415 and it is going to the target zone №2 0.71460-0.71365. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.69985-0.69890. 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.

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Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.69985-0.69890 (105 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.

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