GBPUSD analysis for 06.06.2016

Despite the fact that Services PMI for May did not influence GBP, it grew due to the US negative Nonfarm Payrolls. GBPUSD has been moving with sudden changes with different directions and it makes it difficult to predict the next moves. The support lies at 1.43700 with resistance at 1.45400 which both lines are below the weekly pivot point at 1.45400. The EMA of 10 fell below the EMA of 75 and is moving below it. All indicators are showing price decline; the MACD indicator is in negative territory, the RSI is in below the 50 area and the Stochastic is showing downward momentum. Following the Brexit issue can be a great help for traders at this moment. Short positions are recommended with the target at 1.4278.

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

USDJPY analysis for 06.06.2016

USDJPY seems to be less active today since there are no major economic reports. After the sharp fall on Friday, USDJPY started today with bullish bias. It is finding support at 106.27 with resistance at 107.55 which both lines are below the weekly pivot point at 108.15. The EMA of 10 dropped below the EMA of 75 indicating the sudden price fall. All indicators are signaling price decline; the MACD indicator is in negative territory, the RSI is in oversold area and the ADX is showing strong sellers. There might be lots of rebounds on the way. Sellers can open their positions at the moment and target 105.80.

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

GBPJPY analysis for 03.06.2016

GBPJPY is under the influence of some economic reports in Japan such as Nikkei Services PMI, Nikkei Composite PMI, Labour Cash Earnings YoY and Real Cash Earnings YoY. The pair has been moving with bearish bias and has already passed the 61.8 of Fibonacci retracement therefore there might be a rebound any time soon. The support rests at 155.770 with resistance at 157.590 which both lines are below the weekly pivot point at 160.730. The EMA of 10 is having a rapid fall crossing the EMA of 75. All indicators are showing strong sell signal. The MACD indicator is in negative territory, the RSI is below the neutral zone and the ADX is showing strong sellers. The resistance breakout is a good sign for the rebound which may increase the rate to 160.70 however if the price falls down it will decrease to 155.

https://fxglory.com/gbpjpy-analysis-for-03-06-2016/

EURUSD analysis for 03.06.2016

The published economic reports for EURUSD are suggesting price fall for today. The ECB meeting weakened EUR and the Unemployment rate supported USD. This pair will be massively affected by Nonfarm Payroll Numbers as well. Despite this pair effort to create a reversal pattern for the previous bearish act, it could not go beyond the 1.12200 level. Now the support lies at 1.11310 with resistance at 1.11630 which both lines are blow the monthly pivot point at 1.12900. The EMA of 10 is moving below the EMA of 75 with bearish bias. The MACD indicator is in positive territory and the RSI is staying in the neutral zone around the 50 level. It seems that this pair is going to continue its bearish bias within Andrews’ pitchfork targeting 1.0461.

https://fxglory.com/eurusd-analysis-for-03-06-2016/

AUDUSD analysis for 03.06.2016

The retail sales report which was worse than what they expected weakened the Australian dollar and now the AUDUSD is chiefly under the influence of RBA interest rates. After a short decline AUDUSD has been moving with bullish bias today. The pair is finding support at 0.72140 with resistance at 0.72520 which both lines are above the weekly pivot point at 0.71960. The EMA of 10 is moving close to the EMA of 75 in the neutral zone. The price has already hit the 61.8 of Fibonacci retracement and may continue its upward trend at the moment. The RSI is above the 50 level and the MACD indicator is in positive territory showing the price decline; moreover the Stochastic is indicating price growth. Long positions are recommended with the target at 0.7300.

https://fxglory.com/audusd-analysis-for-03-06-2016/

USDJPY analysis for 03.06.2016

USDJPY is under the influence of several economic reports such as Average Cash Earnings y/y in Japan and ISM Non-Manufacturing PMI, Factory Orders m/m, Final Services PMI, Unemployment Rate, Non-Farm Employment Change, Trade Balance, and Average Hourly Earnings m/m in the US. USDJPY is trading below the weekly pivot point at 110.40 with bearish bias. The support rests at 108.090 with resistance at 109.390. The EMA of 10 is having a sharp downward trend crossing the EMA of 75. The RSI is below the 50 level and the MACD indicator is in negative territory showing the price decline. The pair may continue its fall targeting 108.20 however, the resistance level breakout can bring the price higher to 110.15.

https://fxglory.com/usdjpy-analysis-for-03-06-2016/

NZDUSD analysis for 02.06.2016

NZDUSD is massively sensitive to commodity markets. Since 30th of May this pair has been moving with bullish bias. The support lies at 0.67910 with resistance at 0.68450 which both lines are above the weekly pivot point at 0.6713. The EMA of 10 is rallying up and has already crossed the EMA of 75. The RSI is above the neutral zone and the MACD indicator is in positive territory but the Stochastic is showing a downward trend. The support level breakthrough will push the price down within Andrews’ pitchfork targeting 0.6674 and looking from the upside view, the resistance level breakout will pave the way for further growth to 0.69.

https://fxglory.com/nzdusd-analysis-for-02-06-2016/