Jun 28 2021 0

After the weekends, the USD has stopped its correction. We can see buying force slowly showing up in the market again. Every currency pair is getting a trend. It is time for us to trade!

Latest updates:

  • The dollar fell lower than the first half of the week as an agreement on a US infrastructure spending package boosted demand for risk currencies, but caution over important inflation data. The importance of the US prevented the USD from falling deeply and recovering again in the second half of the session.
  • US inflation (PCE) data came close to expectations.
  • Consumer spending also fell short of expectations (0% vs. 0.4%).
  • British retailers reported a spike in sales in June as the country's rapid vaccination program encouraged people to go out and shop again. However, before that, the Bank of England (BoE) disappointed when it was no longer hawkish, even warning not to "tighten soon".

USD/JPY

USDJPY

USDJPY is also consolidating in a narrow range, the recent break of 111 area was fake, however the price did not retrace deeply, instead forming a consolidation area with a bullish flag pattern. therefore need to be cautious with the possibility of price rebounding. We continue to observe, do not trade against the trend at this time, if there is a signal to break the 111 area and complete the bullish flag pattern, we can continue to buy.

EUR/USD

EURUSD

The price recovered in the last half of the week but then quickly fell back, creating a bearish pin bar pattern on the daily, and now the bearish flag pattern is also showing signs of being broken, all of these are signals that indicate the possibility of a loss. prices continue to go down. You can consider selling orders, the initial target is around 1.185.

GBP/USD

GBPUSD

After completing the wedge pattern and with the confirmation of the daily gyro, the price has fallen as expected, we continue to maintain sell orders, the initial target is still around 1.38.

USD/CAD

USDCAD

The situation is not looking good for the buyers, the price is forced to drop back around 1.225 and is fluctuating in a narrow range. We can still maintain our buy orders, but we need to watch out for the possibility that the price will drop again, SL placed below 1.225.

AUD/USD

AUDUSD

Although the price continued to move up, invalidating the previously formed bearish pin bar pattern on the H4 frame, the price failed to break the 0.76 mark and created new bearish candlestick patterns including the bearish engulfing above. H4 and bearish pin bar on daily. These signals all support the sell order, you can consider.

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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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