Jun 09 2021 0
In general, the market is still fluctuating at a low level. Let's look forward to Super Thursday tomorrow.
- Markets were consolidating on Tuesday, with world stocks hovering at record highs, the dollar rising on upcoming inflation data and volatility indicators all showing see the calm of the market.
- The Biden administration said on Tuesday that the United States would target China with a new "special force" to combat unfair trade practices.
- Adjusted data from the EU's statistics office showed that the eurozone economy shrank much less than expected in the first quarter of the year despite remaining in a technical recession.
- Eurostat said the gross domestic product of the 19 countries sharing the euro was -0.3% quarter-on-quarter, and -1.3% year-on-year. Prior to that, initial estimates were -0.6% and -1.8%, respectively.
The price is still being supported by the lower uptrend line, we also had a bullish candle close above 109.33 on the daily frame, however this is a relatively small bar that does not reflect a strong rebound. of buyers. Therefore, buy orders will still face high risks, you should continue to wait for more reliable signals before buying.
There are also no significant changes on EURUSD, we are still having bearish signals including a head and shoulders pattern, a breakout of the ascending channel line on H4. Continue to keep the old strategy, if there are sell orders, you can continue to hold. We only abandon this strategy when the 1.225 resistance area is clearly broken, confirming the return of the uptrend.
GBP/USD remains fluctuating in the 1.41 to 1.425 range area. We have to continue to wait. This is already the fourth week of accumulation around this price range, the subsequent breakout could be very strong. The main trend is up, the price breaking above can bring a higher probability of winning, prioritizing buy orders.
The price is continuing to go up but can't break the 1.213-15 zone yet, we continue to hold buy orders, set the initial target around 1.22, whether the price can continue to move to higher levels or not. must wait for price action around this resistance area. In addition, attention should be paid to the 1.20 support zone, if this resistance is broken, the sellers may consider coming back, then we will also give up the buying strategy.
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.