EURUSD analysis for 16.06.2016

As rates are going to stay unchanged due to the Fed’s decision, EURUSD is chiefly affected by the referendum in the UK. Yesterday as we mentioned, EURUSD went up to complete its correction pattern and now it has passed the level 50 of Fibonacci retracement. The support rests at 1.12460 with resistance at 1.12860 which both lines are below the weekly pivot point at 1.13030. The EMA of 10 is moving along with EMA of 75 with bullish bias. The RSI is staying at the neutral zone and the MACD indicator is in negative territory. The pair’s movement depends on the coming candles. The support level breakthrough will show that the reversal pattern has finished and the price would go down targeting 1.1130. On the other hand, if the resistance is broken, the pair will continue its bullish movement targeting 1.1400

https://fxglory.com/eurusd-analysis-for-16-06-2016/

USDJPY analysis for 16.06.2016

As Feds leave the rates unchanged, it supported JPY. USDJPY is affected by economic data such as BOJ Press Conference and Monetary Policy Statement in Japan and the Natural Gas Storage, NAHB Housing Market Index, Current Account, Unemployment Claims, Philly Fed Manufacturing Index, Core CPI m/m, and CPI m/m in the US. USDJPY is falling sharply; the support lies at 103.120 with resistance at 106.300 which both lines are below the weekly pivot point at 107.050. The EMA of 10 is falling down the descendant channel as well and it is located below the EMA of 75. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing price fall. Moreover, the MACD indicator is in negative territory, the RSI is below the oversold area and the Stochastic is showing price decline. Short positions are recommended with the target at 103.40.

https://fxglory.com/usdjpy-analysis-for-16-06-2016/

USDCAD analysis for 16.06.2016

CAD was not supported by the manufacturing sector and on the other hand oil is threatening CAD as well. The pair has been moving with bullish bias within the descendant channel. The support rests at 1.28730 with resistance at 1.29690 which both lines are above the weekly pivot point at 1.28040. The price is moving in neutral area where the EMA of 10 is reaching the EMA of 75. All indicators are signaling buy opportunity; the MACD indicator is in positive territory, the RSI is above the neutral zone and has already passed the overbought level and the ADX is showing stronger buyers. However it seems that the 1.29690 is a strong resistance for this pair therefore there might be pullbacks for today. The support level breakthrough will lead the price to lower levels targeting 1.2800; otherwise the pair will continue its bullish trend targeting 1.1320.

https://fxglory.com/usdcad-analysis-for-16-06-2016/

GBPUSD analysis for 16.06.2016

GBP is under the influence of Brexit issue, the Unemployment Rate and the average Earnings. As shown in the chart GBPUSD has been volatile these days creating long candles. The support lies at 1.41310 with resistance at 1.42110 which both lines are below the weekly pivot point at 1.4365. The EMA of 10 is moving below the EMA of 75 with bearish bias. Indicators are not showing clear signals, the RSI is in neutral zone, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. Buyers can have a slight chance of making profit if the resistance level is broken targeting 1.4400 otherwise the decrease will continue to 1.4060.

https://fxglory.com/gbpusd-analysis-for-16-06-2016/

EURJPY analysis for 16.06.2016

The European market is under the influence of Final Core CPI y/y, Eurogroup Meetings, Final CPI y/y, and ECB Economic Bulletin and Japan is releasing BOJ Press Conference and Monetary Policy Statement. EURJPY is falling down the descendant channel but today there was a sharp fall. The support lies at 116.330 with resistance at 119.770 which both lines are below the weekly pivot point at 120.960. The EMA of 10 is located below the EMA of 75 and they are both falling down as well. All indicators are showing price decline; The RSI is reaching the oversold area and it may rise soon, the MACD indicator is in positive territory and the Stochastic is showing downward momentum. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing price fall. It seems that the price fall is getting done and there might be buy opportunity at any time now.

https://fxglory.com/eurjpy-analysis-for-16-06-2016/

NZDUSD analysis for 15.06.2016

NZDUSD is under the influence of The Fed and BoJ meeting and the oil market. After the previous high at 0.71456, NZDUSD has been moving with bearish bias within the descendant channel. The support rests at 0.69510 with resistance at 0.70590 which both lines are above the monthly pivot point at 0.6830. The EMA of 10 is falling down as well and it is located above the EMA of 75. The RSI is in neutral zone along with the MACD indicator. If the indicators fell into the negative territory then it would be a good sell opportunity. Short positions are recommended with the target at 0.6970.

https://fxglory.com/nzdusd-analysis-for-15-06-2016/

USDJPY analysis for 15.06.2016

Yesterday the Japanese Finance Minister, Taro Aso, mentioned the strong JPY which may affect the currency market. Today FOMC Statement will influence this pair as well. After the previous low at 105.60 yesterday, USDJPY has been moving with bullish bias. The support rests at 105.93 with resistance at 106.39 which both lines are below the weekly pivot point at 107.05. The EMA of 10 is tuning into a rising trend after its sharp fall and the EMA of 75 is falling down and it is located above the EMA of 10. The MACD indicator is in negative territory and the RSI is below the 50 level; however the Stochastic is showing upward momentum. There are no enough signals for traders to decide what to do so it is better to wait for a better chart setup.

https://fxglory.com/usdjpy-analysis-for-15-06-2016/