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08 Jun

Daily Technical Analysis of Forex 8th JUNE 2016

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Daily Technical Analysis on 8th June 2016

Technical Pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, & XAUUSD.
EURUSD 
 
 
EURUSD lost it’s improve impulse, despite the truth that the final GDP for first quarterly in the Euro zone overrated the forecast. Investors preferred to get profits following the pair grew at 250 points previous week. The pair mounted at the fresh highs at 1.137 levels. All buyers’ attempts to beat the euro higher failed. The pair traded resistance is at 1.1370, the support level is at 1.1300. MACD indicates underneath its signal line. RSI touched the overbought level of 70. According to the sign the price might reverse its direction soon. Once we crack under the level of 1.1300, we consider that the 1.1250 will be the next level.

 
GBPUSD 
 
GBPUSD will rise when a poll in The Times newspaper released that the number of Britain’s who preferred to remain in the EU grew by 1 percent vs. those who wants to depart it.
GBPUSD showed uncertain trades on Yesterday. The pair improves on the European session & broke many resistances: 1.4480, 1. 4560 & almost touched the point of 1.467 levels. The pair bounces back from this resistance & spent the rest of its trades nearby 1.456 levels. The resistance remains at 1.467 levels, the support remains at 1.456 levels. The break underneath 1.448 levels should send this market place forward for the 1.4400 levels.
 
 
AUDUSD
 
The Australian dollar will rise when the Australian Central Bank kept its interest rates unmodified on Last day. The Australian controllers also consider not using the further stimulus for the economy. The Australian dollars hold its increase. The pair forced from the 200 days Moving Average upwards & broke over the level at 0.7400 levels. The pair reached a firm level of 0.7500. The resistances levels are 0.7500, the support levels are 0.7400. This loss of the 0.7400 level will send the price further down to 0.7270.
 
 
USDJPY
 
If the US does not hike the interest rates next week Japanese controller might begin to use its arsenal of political means previous than it had planned. A hard yen limits the exports & consumer prices return in the country. The dollar might reverse few of its losses last day. The pair will grow & clogged close to the resistance level of 108.00 at Asian session. During the full day the pair cut down to the support level of 107.00 where the USDJPY finished the Yesterday trades. The resistance is 108 levels, the support is 107 levels. The break on top of the 108 level will goal to reach the pair at109 levels.
 
 
XAUUSD
 
XAUUSD- Gold slightly weakened on Yesterday as investors got attention when the recent rally failed. Nonetheless, the yellow metal stayed near a two-week high it had touched previously amid the loss of faith of traders in the rates raise in the US. The gold spent last day in a narrow area limited by the level of resistance at 1250 & the level of support at 1235. Their further direction looks volatile & depends on the further economical & political drivers. The resistance is at 1260, the support lies at 1235. MACD indicates sell signal but RSI touched the overbought level of 70. Once we smash under the 1235 level, we think 1215 level will be the next target.
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