EUR/USD overview for June 08, 2015

8 June, 2015

General overview

The US May labor market report was last week main even that shall set this week movement direction. The non-farm payrolls came out better than the forecasted medians. The leading indicators point out to the Non-Farm at 228K.

The euro strong growth against the US dollar was stopped at the resistance level of 1.1375. The short-term level testing was followed by the active price rebound downwards on the increased volume.

The price is finding the first support at 1.1050, the next one is 1.0925. The price is finding the first resistance at 1.1150, the next one is at 1.1260.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is declining.

Trading recommendations

We expect the return below the cloud, the first target might be the level of 1.0925. Otherwise the growth will be continued to 1.1260.


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Yellow metal returned to a growth

Buyers failed to reclaim 1260 and stepped back in the night. The price slightly eased and corrected to 1253...

Undertone for Gold was clearly positive

The undertone for Gold was clearly positive on Thursday. The spot was growing the first part...

Gold maintained its bid tone

Buyers defended the 1230 level on Friday. Fresh bids around the level coupled with broad base...


Gold failed to sustain recovery

The pair pulled back in the Asian night and reached 1260 in the mid-Asian session. The level limited sellers' advance..

Gold remained well offered

The XAUUSD pair came under intense selling pressure on Thursday. The spot pushed away...

Brent oil prices maintained their negative bias

Sellers broke 55.50 and remained within the level in the night...


Brent oil prices remained in an upward channel

However, the benchmark softened to its lower band...

Brent oil prices gapped higher

A strong energy demand in the Asian region supported oil prices despite a rebound in Libyan oil production which still weigh...

Gold prices weakened

The undertone for Gold was clearly positive. However, buyers failed to retake 1260 on Monday. The level rejected the price downwards...

  


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