Daily reviews

The pound against the dollar is back to test the resistance level 1.2590 again after it bounced off the support level 1.2470 during yesterday's trading. We note that the resistance level is standing up to the price's attempts to test it and pressure the price to return to the decline. …

The EURUSD pair continues to move sideways between the levels 1.0645 and 1.0750. Yesterday, it rebounded from the resistance level at 1.0750, and reached the support at 1.0645, to return to the upside again.

The moving averages form the first resistance levels near the 1.0700 area and are trying to …

#MC

The general trend is descendant. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The inclined channel of the ascendant truncated structure is breached.

Trading idea:

Sell when level 598.00 is breached.

Stop-loss: 621.00.

Target levels: 571.00; 543.92.

The general trend is descendant. The currency pair is traded between 365 and 135 moving averages. Stochastic Oscillator indicates overbought conditions. The “start fractal” is formed below 135 EMA, the breach of this figure will cause the pattern ABC to start.

Trading idea:

Sell when 6.6657 level is breached.

Stop-loss …

News of the day, Tuesday, June 7

European shares slumped today as investors still worry about some depressing prospects of global economic growth this year. The pan-European STOXX 600 fell 0.4%.

The USD increased earlier today after a big rate hike in Australia. The Dollar index traded 0.2% lower today. …

Gold was unable to maintain the gains it made at the end of last week, as it approached the resistance 1870.00, then bounced lower, breaching several levels of support, and was able to break the main support 1845.00 and settled below it, thus opening the way for a bearish path …

The pound against the dollar failed to break the resistance level 1.2590 and rebounded to the downside towards the support level 1.2470 after it breached the support level represented by the moving average 20. To move the price within a sideways path in the medium term between the two levels …

The euro against the dollar was unable to break the resistance level at 1.0750 yesterday, and it returned to the bearish rebound towards the support level 1.0645, which is the target for the rebound movement. Therefore, the downside scenario remains to dominate the price movement, especially since the price broke …

#FRE

The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The entry point on the pullback B is forming.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure. …

The general trend is descendant. The currency pair is traded in the 365 and 135 moving averages span. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant …