Jul 01 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!
- US ADP private payrolls better than expected (692k vs. 600k).
- The dollar posted its biggest monthly gain since March, supported by traders' anxiety over highly unpredictable US labor data this weekend and the rapid spread of variation. Delta.
- Britain's economy contracted more than expected in the first quarter of this year, as restrictions introduced to combat the Covid-19 pandemic took a toll on the retail sector.
- Crude oil prices rose on Wednesday, boosted by uncertainty over how much top producers would agree to increase supply. OPEC+ ministers delayed preliminary talks by one day to allow more time to resolve differences over production policy.
USDJPY has completed a bullish flag pattern, and a bullish engulfing pattern on the daily, the resistance area of 111 has also been retested and still has not seen selling pressure around this area, you can balance prompt for exploratory buy orders. In case the price successfully breaks through the 111 zone, the position can be fully replenished, the initial target will be 112, the SL below the bullish engulfing pattern.
The price has approached our 1.185 target, you can consider risk reduction measures (continue to move SL / partially exit the order) or take full profit. Currently, there is no significant buying pressure around this price range, so the possibility that the price will continue to go down is quite high, the short-term target will be 1.180.
The target zone of 1.380 has been approached, however, only consider adding new orders when it is officially broken, then it is likely to drop further to the 1.37 zone. It should be noted that unlike EURUSD, on the daily frame of GBPUSD, there is a very noticeable doji bar, so the possibility of further decline of GBPUSD is lower.
The price has not yet approached the target of 1.245 and is showing selling forces again, may consider taking profit on buy orders or continue to move SL and wait for new signals. Notice the price action around the upper downtrend line.
Prices continued to decline slightly in the past session but have not been able to penetrate the June low at 0.747. Those with sell orders can continue to move the SL and keep the order, but new orders should only be considered when the price completely breaks the 0.747 zone.