Jun 18 2021 0

In general, the market is still moving smoothly. But you need to be alert and not FOMO. Please wait for the opportunity after the corrections.

Latest updates:

  •  The dollar extended its gains on Thursday after the Fed surprised markets by signaling it would raise interest rates and end emergency bond purchases earlier than expected.
  • US weekly jobless claims rose again, but not too far from expectations (412k vs 360k).
  • The Swiss National Bank (SNB) on Thursday signaled that monetary policy will remain as it is for the foreseeable future. However, the SNB has followed the ECB and the Fed in raising their inflation forecasts.

USD/JPY

USDJPY Jun 18

The price has corrected down quite strongly as expected, hopefully you can take profit on previous buy orders as recommended. This price action shows that the selling force around the top of the year (111) is still very strong, the price is likely to continue to fall deeply, the target for this correction is around 109.6-109.8, we will wait for Action price around this zone to decide whether to return to the market with short-term bullish channel buy orders.

EUR/USD

EURUSD Jun 18

Similar to gold, EURUSD broke the 1.20 mark so easily, there was not even a correction around this price, showing overwhelming selling. However, after two strong decline sessions, the 1.19 resistance level has been approached, the market is also in a heavily oversold state, so this is not a good time for us to sell, the risk is very high. Instead, we should wait for opportunities after corrections, the price area to pay attention to right now is around 1.20.

GBP/USD

GBPUSD Jun 18

After the breakout signal, the price has continued to decline as expected, heading towards the target of 1.38 that we have set. However, the price is approaching the medium-long-term uptrend line, so it is not excluded that there will be a correction, you should not enter new sell orders at this time but should only maintain existing orders. , in case the price corrects to the 1.40 zone, a new sell order can be added if there is a accompanying bearish signal.

USD/CAD

USDCAD Jun 18

The price has approached the 1.235-40 target, you should consider taking profits on all previous buy orders. Although the upward momentum is still quite strong, the price has approached the confluence of 1.240 and is also in an overbought state, you should protect the results and avoid chasing the price.

AUD/USD

AUDUSD Jun 18

We closed the sell orders a bit early, but the current support range is very large, it's still safer. With the recent drop, the price has officially approached the neckline area of ​​the giant head and shoulders pattern on the daily (on this H4 chart, I can only mark the right shoulder and neckline). Therefore, we should suspend short-term trades and observe this price pattern for clues on the next direction.

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Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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