Jun 25 2021 0
USD has not come to the uptrend yet, so we can't trade anything today. Moreover, this is Friday. I think USD can go up at the weekends so we have to prepare for it. Check out how in this article below.
- Currency markets were quiet as traders weighed various signals from Federal Reserve officials on when they might ease monetary stimulus.
- BoE kept interest rates unchanged as expected.
- US durable goods orders data was much worse than expected (0.3% vs 0.8%).
- The number of people claiming US unemployment benefits last week continued to be higher than expected (411k vs 380k).
The price has not been able to continue going up, is currently fluctuating below the 111 zone, so the possibility that the recent breakout is fake, is forming a bull trap. There is a possibility of a downward correction from the current price range, you patiently wait for new forex signals, do not add long positions at this time.
No significant change on EURUSD, price is still consolidating in a narrow range and continuing the bearish flag pattern. We continue to wait for the opportunity to return to the mainstream downtrend, with two scenarios: 1/ when the price completes the falling flag pattern. 2/ when the price retests the 1.20 zone with bearish signal.
The price has bounced back from the 1.40 resistance area, the wedge pattern consolidation area has also been broken, the daily spinning top is still present, you can consider new sell orders. , the initial target will be around the old low of 1.38.
The price has bounced back from the 1.225 confluence area after the previous bullish signal, however, the upward force is quite weak, it should be noted the possibility of a fall again. SL buy orders are placed below the 1.225 zone, we will give up the short-term buying strategy when this support is broken, the initial target for buy orders is still around 1.245.
There is also not much change on AUDUSD, the price is still retesting the previous broken uptrend line, the short term bearish structure still exists so we can still follow the sell strategy, but need to pay attention to the 0.777 zone. to 0.780, if this zone is broken, the possibility that the price will return to the uptrend is quite high.