EUR/USD: analysis for 09.06.2015

9 June, 2015

General overview

The euro increased at the trades on Monday. Germany published the industrial production report. This index increased in April by 0.9% on the month basis after the revised decline by 0.4% in March. The increase was larger in April than it was forecasted by 0.5% and the highest increase in 2015.

We received the May US labor market report and it's time to sum up the outcomes. The private sector employment reached the level of 280 thousand that confirms the Fed forecast for the US economic recovery in the second quarter.

The price reduction from the resistance level of 1.1260 was followed by the support level of 1.1150 short-term breakthrough. However, buyers were able to buy out the price and return it above the mark of 1.1150. The resistance level of 1.1260 was tested.

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

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 shows a downward movement and the Kijun-sen shows a downward movement and form a “Dead cross”. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

If the price fixates below the resistance level of 1.1260, it may continue the downward trend in the short term. The potential target is 1.1150.


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Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...

Gold has jumped to 1265 level

The resistance holds at 1280, support comes in at 1245.9. Major resistance is highlighted at 1295.4. Next target is set at 1350...

Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....


Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...

DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...


Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

  


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