Jun 15 2021 0
In general, USD did not change much in the last session, so it did not record significant changes on currency pairs. Let's continue to maintain our trading strategy!
- The dollar was little changed at the start of the week after posting its biggest weekly gain in six weeks at the close of Friday's session. Traders appear to be cutting their bearish bets on the USD ahead of the June FOMC meeting this week as it could signal a change in the policy outlook.
- The dollar's rise was also supported by some moves to clear bearish bets on the dollar.
- The UK is unlikely to completely lift the blockade as planned.
- Bitcoin rallied on Monday, climbing to a two-week high, nearing the $40,000 mark after Tesla boss Elon Musk said the electric carmaker could start using BTC as a means of payment again.
The price is about to approach the 110.2 target area, consider preparing to exit the order. The upward force is quite good but the upper resistance areas are very thick, including the top of the range 110.2, the upper boundary of the rising channel 110.5 and the highest price of the year around 111. In general, no new orders should be entered if you guys. If you want to try your luck, just keep your current buy orders and move your SL.
After completing the pattern, the price is re-testing the neckline, the correction force is quite modest and this is a good sign for the sellers, you continue to maintain your current orders, the target is moved to 1.205 zone, beyond the 1.20 region.
GBPUSD has not changed much in the past session, it is still ahead of the important confluence of 1.41. Recall that if this zone is broken, it will confirm two signals: the bullish channel line is broken and the giant rounding top is confirmed. At that time, we can consider selling orders, but for now, waiting for signals is still the right thing to do.
There is no big change on USDCAD, we still keep the two old options for long positions including: 1/ take full profit when the price approaches 1.22. 2/ Minimize the risk when the price approaches the 1.22 zone and wait for the break to continue buying to the 1.235-40 zone because then the rounding bottom pattern has been officially confirmed.
The price did not change much so the status on AUDUSD did not change much, a bearish candlestick pattern appeared on the daily, we continue to follow the sell-sell strategy, targeting initially around the support area of 0.765, beyond is the 0.760 zone.