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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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NZDUSD overview 06.07.2021

NZDUSD rises on rate hike expectations.

NZDUSD under the strongly bullish pressure today on widespread bullish new Zealand dollar sentiment after an unusually strong survey of business conditions prompted investors to bet a rate hike could come as early as November. The pair is also driven up by dollar’s weakness as investors waited for clues about when the U.S. Federal Reserve could start tapering stimulus after pressure for rate hikes eased due to mixed labour market data released recently. The minutes from the Federal Reserve’s meeting in June, when it surprised markets with a hawkish shift, are due to be published on Wednesday.

Expect buyers on downward corrections.

Next resistance to watch – 0.7120

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GOLD 07.07.2021

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 1800.10-1795.60. 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 1800.10-1795.60 (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 07.07.2021

Gold rises on falling bond yields.

Gold continues to rise for the 6th day, driven up by the drop in U.S. Treasury yields ahead of minutes from the Federal Reserve’s earlier meeting that could provide more clues on the policy stance. With the key driver for gold being the decline in U.S. Treasury yields the precious metal is behaving as expected, rising in response to benchmark 10-year Treasury yields hitting their lowest in more than four months. Focus now is on minutes from the Fed’s latest meeting, due at 1800 GMT today, which could have a major say on whether spot gold can stay above the $1,800 level. Fresh hawkish cues could be very bearish signal for gold.

Expect buyers on downward corrections.

Next resistance to watch – 1815.00

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EURUSD 08.07.2021

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 1.18782-1.18694. 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 1.18782-1.18694 (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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USDJPY overview 08.07.2021

USDJPY falls on weaker dollar.

USDJPY under the strong bearish pressure today – under the effect of the equally strong U.S. dollar bearishness and the yen bullishness as the reaction of the Benchmark U.S. yields hitting more than four-month low. The investors are dumping risky positions in currency markets in a broad-based unwinding by some hedge funds. This is a classic unwind of risky positions in currency markets with yield chasing trades reversing from current account deficit countries to surplus nations. The minutes of the U.S. Federal Reserve’s June policy meeting confirmed it was moving towards tapering its asset purchases as soon as this year, which is largely blamed for the selloff of the dollar and yen gains.

Expect sellers on upward corrections.

Next support to watch – 109.25

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AUDUSD 09.07.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.74155-0.74065 and it has a potential to reach the target zone №2 0.73255-0.73165. The best prices to try to have a short position are the control resistance zone 0.75083-0.74993. 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 0.75083-0.74993 (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 09.07.2021

Oil rises as U.S. inventories decline.

Oil under the bullish pressure today as U.S. petroleum inventories have fallen below the pre-pandemic five-year average amid the oil consumption accelerating but crude producers being slow to respond to rising prices, signalling more supply is needed. This is fuelling the latest upward reversal in oil prices with demand reaching its highest since 2019 – according to the U.S. Energy Information Administration, indicating the increasing strength of the economy. Further gains will be dependent on the subsequent OPEC+ group decisions, which can be tempted to abandon output limits, and on the pace of the spread of the Delta variant. No significant news from both fronts should allow for further oil gain in the coming trading sessions.

Expect buyers on downward corrections.

Next resistance to watch – 74.20

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EURUSD 12.07.2021

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 1.18782-1.18694. 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.

a05be53bb71e.jpg

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.18782-1.18694 (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 12.07.2021

Gold dips on stronger dollar.

Gold under the bearish pressure today as a stronger dollar made gold more expensive for holders of other currencies and investors awaited U.S. inflation data and Federal Reserve Chairman Jerome Powell’s testimony this week. Gold market lost momentum after the U.S. Federal Reserve adopted a more hawkish stance, raising prospects for a rise in interest rates as early as 2023, and a tapering of its monetary stimulus. Gold traders will focus on a U.S. consumer price index report on Tuesday, and Powell’s testimony before Congress on Wednesday and Thursday for cues on the timeline for policy tightening. Short-term downward pressure on gold will be limited by an upsurge in new infections caused by the Delta coronavirus variant.

Next support to watch – 1795.00

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