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Amega daily market overview & news alerts


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NZDUSD 11.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.71260-0.71165 and it has a potential to reach the target zone №2 0.70310-0.70215. The best prices to try to have a short position are the control resistance zone 0.72303-0.72208. 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 0.72303-0.72208 (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 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 11.06.2021

Gold falls on stronger dollar.

Gold falling today on the strong U.S. dollar inflows as inflation concerns are starting to strengthen among the investors. Data showed U.S. consumer prices rose strongly in May, leading to the biggest annual increase in nearly 13 years, while jobless claims dropped to their lowest in nearly 15 months last week. The dollar index rose today reducing gold’s appeal for investors holding other currencies and adding to the bearish pressure on the precious metal. Focus now shifts to Fed’s June 15-16 policy meeting – which should give clues on to how the Fed will handle the overheating USA economy – which would be an important signal for gold prices.

Next support to watch – 1869.00

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EURUSD 14.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.20903-1.20815 and it has a potential to reach the target zone №2 1.20023-1.19935. The best prices to try to have a short position are the control resistance zone 1.21893-1.21805. 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 1.21893-1.21805 (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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BRENT overview 14.06.2021

Oil rises on increased demand.

Oil continues to rise steadily supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns accelerate worldwide. The price is driven up by the combined effect of demand optimism and OPEC+ supply cuts. Motor vehicle traffic is returning to pre-pandemic levels in North America and much of Europe which together with plans to donate of 1 billion vaccine doses to poor nations increases oil demand expectations. If the inoculation of the global population accelerates further, that could mean an even faster acceleration in oil demand. The International Energy Agency (IEA) said on Friday that it expected global demand to return to pre-pandemic levels at the end of 2022. The OPEC+ group has been restraining production to support prices – adding to the bullish pressure on oil.

Next resistance to watch – 74.72

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GOLD 15.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1905.61-1901.11 and it is going to the target zone №2 1950.61-1946.11. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1867.75-1863.25. 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 1867.75-1863.25 (500 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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USDCAD overview 15.06.2021

Canadian dollar falls as copper prices slide.

USDCAD under the bullish pressure today under the effect of the strengthening bearish Canadian dollar sentiment as the copper prices fell to seven-week lows. Copper fell 3.6% as traders cut bets on higher prices due to growing concerns that China, which is top consumer of copper, would soon move to curb further price rises. Canadian dollar is under the bearish pressure as a result of this because Canada is a major exporter of commodities, including copper and oil. The pair is also dragged up on mild U.S. dollar bullishness as investors are waiting for guidance from the Federal Reserve on prospects for its bond-buying program.

Next resistance to watch – 1.2205

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AUDUSD 16.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.77455-0.77365 and it is going to the target zone №2 0.78355-0.78265. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.76855-0.76765. 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 0.76855-0.76765 (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 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 16.06.2021

Gold retains bearish bias ahead of Fed.

Gold under the mild bearish pressure today as investors are waiting for any signs of early tapering from the U.S. Federal Reserve meeting later today. In a new policy statement and economic projections due today, the Fed is expected to acknowledge the first conversations among its policymakers on when and how fast to pare back its massive bond-buying programme. The market is looking for any hawkish signals so they would be more likely to move gold prices. Data on Tuesday showed U.S. retail sales dropped more than expected in May. This comes on the back of recent data showing a spike in U.S. consumer prices, which have raised concerns over rising inflation. Market participants will be focused on any comments over inflation risks – inversely correlated to gold prices.

Next support to watch – 1843.00

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USDCHF 17.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.90430-0.90324 and it is going to the target zone №2 0.91523-0.91414. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.89834-0.89729. 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 0.89834-0.89729 (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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EURUSD 17.06.2021

EURUSD slammed by hawkish Fed.

EURUSD falling strongly today under the powerful bearish U.S. dollar sentiment as the markets are reacting to the latest comments from the Fed in which is projected faster timetable for interest rate rises – sending bond yields and the dollar sharply higher. Officials moved their first projected rate increases to 2023 from 2024. The Fed also signalled it would now be considering whether to taper its $120 billion-a-month asset purchase programme meeting by meeting, and downgraded the risk from the pandemic given progress with vaccinations. The more hawkish changes to FOMC participants rate path expectations came despite little change in the 2023 unemployment rate and inflation forecasts. This suggests less tolerance for an inflation overshoot than previously thought – signalling further dollar gains ahead and losses for EURUSD.

Next support to watch – 1.1939

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USDCAD 18.06.2021

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1.23556-1.23388 and it is going to the target zone №2 1.25528-1.25086. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.22114-1.21951. 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 1.22114-1.21951 (180 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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NZDUSD 21.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.69360-0.69265 and it has a potential to reach the target zone №2 0.68410-0.68315. The best prices to try to have a short position are the control resistance zone 0.70272-0.70177. 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 0.70272-0.70177 (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 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 21.06.2021

GBPUSD surges ahead of Bank of England meeting.

GBPUSD rising strongly today under the growing sterling bullishness as well as the significant USD outflows as the markets continue to make sense of the FED comments made last week – which led to massive losses for this currency pair. The scale of the USD gains has triggered the current correction in USD sentiment – leading to GBPUSD gains. The pair is also driven up by the expectation of the more optimistic economic assessment from the Bank of England, which next meets on Thursday, – could push sterling towards $1.40 fast. In the meantime, investors brought forward bets that the BoE would raise interest rates sooner than they thought previously, flattening the yield curve for British government bonds and mirroring a recent move in U.S. Treasuries – which adds to the bullish pressure on GBPUSD.

Next resistance to watch – 1.1939

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GOLD 22.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1777.75-1773.25 and it has a potential to reach the target zone №2 1732.75-1728.25. The best prices to try to have a short position are the control resistance zone 1810.31-1805.81. 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 1810.31-1805.81 (500 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 22.06.2021

Gold falls ahead of Jerome Powell’s testimony.

Gold under bearish pressure on stronger dollar as the as investors turn their attention to U.S. Fed chief Jerome Powell’s testimony for cues on monetary policy. Today’s bearish tone continues the earlier sharp downward impulse in the wake of Fed’s surprise hawkish signal last Wednesday. Higher rates and bond yields reduce the opportunity cost of holding gold, a non-interest bearing asset. Powell, who will appear before Congress from 1800 GMT, in prepared remarks said inflation had “increased notably in recent months”. The boost in Fed growth and inflation forecasts, and improved labor market projections, could drive gold prices further down.

Next support to watch – 1760.00

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GBPUSD 23.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.39044-1.38872 and it has a potential to reach the target zone №2 1.37324-1.37152. The best prices to try to have a short position are the control resistance zone 1.39756-1.39584. 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 1.39756-1.39584 (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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EURUSD overview 23.06.2021

EURUSD rises on dovish Fed.

EURUSD under bullish pressure today on weaker dollar after U.S. Federal Reserve official Chair Jerome Powell reaffirmed tighter monetary policy was still soon to be implemented after a hawkish turn by the Fed last week caught Forex markets off guard. The policymakers have since softened their stance with Powell and New York Fed President John Williams warning the economic recovery requires more time before raising interest rates. “We will not raise interest rates pre-emptively because we fear the possible onset of inflation,” Powell said on Tuesday “We will wait for evidence of actual inflation or other imbalances.” The pair is also driven on moderate euro optimism after German and Eurozone Preliminary PMIs beat expectation.

Next resistance to watch – 1.200

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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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