Jun 30 2021 0
USD is showing signs of regaining momentum and so is the trend on currency pairs. Take advantage of the current advantages! Note that today's session is the end of the month so there may be surprises. Pay attention to the risk when trading.
- The dollar rallied near three-month highs against major currencies on Tuesday as the coronavirus outbreak threatened the global economic recovery, while the AUD and GBP were the mainstays. G10 dropped the most.
- The debate over when to rein in the ECB's massive bond-buying program is starting to heat up according to the latest comments from officials.
- Crude oil prices weakened on Tuesday, retreating from recent highs as the market braced for news from the OPEC+ meeting alongside an increase in Covid-19 cases.
There is no significant move on USDJPY, the price has not yet broken out of the bullish flag consolidation zone. Currently there are still bullish and bearish signals appearing on USDJPY, we should avoid trading for now, waiting for fresh price action around key price zones like 110 and 111.
The price is continuing to go down after the bearish signals we mentioned earlier. Continuing to hold existing sell orders, target is still around 1.185 and may consider moving SL to reduce risk. Price action around 1.185 will indicate whether the price continues to fall deeper.
The price has approached the 1.38 zone, those who have taken profits should not enter new orders, waiting for the next signals. We only consider continuing to sell when the 1.38 zone is completely broken.
USDCAD has quite good momentum in the last session, the target of 1.245 is about to be approached, you can consider moving the SL to reduce risks. Pay close attention to the price action around 1.245, it will reveal the next direction of the price.
The 0.75 price zone has been approached, the target has been completed. However, if you haven't taken profit yet, you can continue to hold the order because the downtrend is quite good, you can expect the price to break 0.747, remember to move the SL to reduce risk. If the price breaks through, the next target will be around 0.740.