riki143 Posted June 5, 2017 Share Posted June 5, 2017 MORNING BRIEF FOR JUNE 5 05:46 05.06.2017 The weekend terrorist attack in London was the main cause of price action in the early hours of the Asian session. The attacker rammed a van into pedestrians on London Bridge and stabbed passersby. The market reaction was subdued with just a small drop for GBP as dealers became more and more desensitized to the shocks knowing that whatever the effect they produce, the prices will eventually stabilize. Prime minister Theresa May Thursday’s general election will go ahead. Election polls are still narrowing significantly, with the recent print from Survation poll indicating May’s lead cut to one point over her Labour counterparts. But the poll results might be delusive; despite the growing support for Labour party in the big cities, the countryside people are still likely to vote for Conservatives. GBP/USD dropped just slightly after another terrorist atrocity to 1.2850 from Friday’s high at 1.2920. From here, the pair will likely trade steadily within the range of 1.2800 – 1.3015. The great move was noticed on the Brent oil futures chart. Prices surged after Saudi Arabia, Egypt, the UAE, and Bahrain cut their ties with Qatar, accusing the Gulf Arab state of supporting such Islamist fractions as the Muslim Brotherhood, Islamic State, and al-Qaeda. Qatar is not only a large oil supplier, it is also a greatest Arab supplier of liquefied natural gas and seller of condensate. The Brent futures are currently trading at $50.67 from Friday’s low at $48.95. The US dollar regained its strength on Monday. It is higher against the yen. It seems the USD managed to recover disappointing labor market report out of the US. USD/JPY is now near 111.10. The current outlook is neutral if bears break 110.00 support. On the upside, there is a solid resistance at 111.25. Today, traders should be focused on the US non-manufacturing PMI and factory orders. EUR/USD was trading lower at 1.2225 from Friday’s high at 1.2580 in the Asian session. In the short-term. There is a strong resistance at 1.3000, but it will unlikely be hit this week as market anticipate a less dovish message from ECB which is due on Thursday. AUD/USD ticked higher in Tokyo morning due to the better than expected company operating profits and upbeat Caixin services PMI released from China. AUD/USD is trading above 0.7455. It seems that it is caught in a broad 0.7380 – 0.7490 consolidation range. We don’t anticipate greater moves from Aussie since the Reserve Bank of Australia will likely stay on hold and deliver a neutral statement tomorrow. More: https://fbs.com/analytics/articles/morning_brief_for_june_5__1408 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 AUD/USD: AUSSIE HAD A SLIDE ON THE WOLFE WAVES 06:18 05.06.2017 Recommendation: BUY 0,744 SL 0,7385 TP 0,755. On the AUD/USD daily chart, the Bears failed to break an important support at 0.738; it was a signal of their weakness. Quotes left the medium-term downward trading channel and returned to the short-term ascending one. As a result, the risks for the realization of the Gartley pattern have increased. The target 78.6% of the Gartley pattern is located near the 0.755 mark. On the AUD/USD hourly chart, the Wolfe Waves pattern has been formed. Its targets can be found above the 0.75 mark. You may use rebounds from important supports at 0.744 and 0.7422 as new entry points for opening long positions. More: https://fbs.com/analytics/articles/aud_usd%3a_aussie_had_a_slide_on_the_wolfe_waves_1410 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 USD/CAD: BEARS ARE PREPARING FOR THE ATTACK 06:19 05.06.2017 On the USD/CAD daily chart, the realization of the Wolfe Waves pattern continues. The next move would be the return of quotes within the borders of the downward trading channel. For this to happen, the Bears need to break the support at 1.3435. On the USD/CAD hourly chart, the breakout of the diagonal support in the form of the lower border of the upward trading channel will be a signal for the Bears' attack. There is a chance for quotes reaching the convergence zone at 1.344 - 1.3455. Within these levels, there is a target 88.6% of the Shark pattern. If support at 1.344 is broken, there will be a slide towards lower levels. More: https://fbs.com/analytics/articles/usd_cad%3a_bears_are_preparing_for_the_attack_1411 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 EUR/USD: "PENNANT" PUSHING PRICE HIGHER 09:02 05.06.2017 The price faced resistance at 1.1287 - 1.1307, so the market is consolidating. Therefore, bulls are likely going to test the next resistance at 1.1325 in the short term. If we see a pullback from this level, there'll be an opportunity to have a decline towards support at 1.1267 - 1.1249. There's a "Pennant" pattern, so bulls are likely going to test the closest resistance at 1.1287 - 1.1307 in the coming hours. However, if a pullback from this area happens, bears will have a chance to test the next support at 1.1278 - 1.1267. More: https://fbs.com/analytics/articles/eur_usd%3a_%22pennant%22_pushing_price_higher_1414 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 GBP/USD: BULLISH "TRIANGLE" 09:06 05.06.2017 The price is consolidating between resistance at 1.2913 and the 34 Moving Average. In this case, the pair is likely going to test the nearest resistance at 1.2913 - 1.2945, which could be a departure point for another decline in the direction of the closest support at 1.2887 - 1.2865. We've got a bullish "Triangle", so we should keep an eye on the next resistance at 1.2935 - 1.2952 as an intraday target. Nevertheless, if a pullback from this area arrives afterwards, we could have a decline towards the 34 Moving Average. More: https://fbs.com/analytics/articles/gbp_usd%3a_bullish_%22triangle%22_1415 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 EUR/USD: "WINDOW" ACTED AS RESISTANCE 12:57 05.06.2017 The price reached the upper "Window", which acted as resistance, so we've got a bearish "Tweezers" pattern. Therefore, the market is likely going to decline towards the nearest support level in the short term. However, if any bullish pattern arrives afterwards, there'll be an opportunity to have another upward price movement. We've got a bullish "Hammer", but this pattern hasn't been confirmed yet. In this case, we could have a local upward correction, but bears are likely going to deliver a new local low later on. More: https://fbs.com/analytics/articles/eur_usd%3a_%22window%22_acted_as_resistance_1418 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 USD/JPY: BEARISH "TOWER" 13:00 05.06.2017 There's a bearish "Tower" on the 144 Moving Average. However, we've got a pullback from a quite strong support level, so the middle of the last black candle is likely going to act as resistance. If a pullback from this level happens, the lower "Window" is going to be the next bearish target. We've got a bullish "High Wave", but the last bearish "Shooting Star" has been confirmed strongly, so the pair is likely going to test the closest support in the coming hours. Meanwhile, if we see a pullback from this level, there'll be a green light for another bullish rally. More: https://fbs.com/analytics/articles/usd_jpy%3a_bearish_%22tower%22_1419 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 NZD/CHF REVERSED FROM SUPPORT ZONE 17:15 05.06.2017 NZD/CHF reversed from support zone Next buy target - 0.7000 NZD/CHF continues to rise after the earlier upward reversal from the support zone lying between the powerful long-term support level 0.6750 (former major resistance level which has been reversing the price at the start of 2016), lower weekly Bollinger Band and the 38.2% Fibonacci correction of the previous sharp weekly upward impulse from August of 2015. The upward reversal from the aforementioned support zone created the weekly Japanese candlesticks reversal pattern Piercing Line. NZD/CHF is expected to rise toward the next buy target at the round resistance level 0.7000. More: https://fbs.com/analytics/articles/nzd_chf_reversed_from_support_zone_1424 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 5, 2017 Share Posted June 5, 2017 AUD/JPY REVERSED FROM SUPPORT ZONE 17:17 05.06.2017 AUD/JPY reversed from support zone Next buy target - 84.00 AUD/JPY today reversed up from the support zone lying between the support level 82.00 (which reversed with the daily Hammer the pervious intermediate ABC correction (2) in May), lower daily Bollinger Band and the 50% Fibonacci correction of the pervious sharp upward impulse from last November. Considering the oversold reading on the daily Stochastic indicator - AUD/JPY is expected to rise in the active impulse waves 3 and (3) toward the next buy target at the next resistance level 84.00 (which stopped the previous minor impulse wave 1 in May). More: https://fbs.com/analytics/articles/aud_jpy_reversed_from_support_zone_1425 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 EUR/USD: EURO STAYED ABOVE TENKAN-SEN 05:10 06.06.2017 Technical levels: support – 1.1250; resistance – 1.1360. Trade recommendations: Buy — 1.1250/60; SL — 1.1230; TP1 — 1.1340; TP2 – 1.1360. Reason: expanding bullish Ichimoku Cloud, but Senkou Span A is horizontal; a golden cross of Tenkan-sen and Kijun-sen, horizontal Tenkan-sen and Kijun-sen; the market is overbought, but prices are supported by Tenkan-sen. More: https://fbs.com/analytics/articles/eur_usd%3a_euro_stayed_above_tenkan_sen_1431 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 GBP/USD: POUND BROKE SSB’S RESISTANCE 05:11 06.06.2017 Technical levels: support – 1.2900; resistance – 1.2980. Trade recommendations: Buy — 1.2920; SL — 1.2900; TP1 — 1.2980; TP2 — 1.3050. Reason: narrowing bearish Ichimoku Cloud and horizontal Senkou Span B; a golden cross of Tenkan-sen and Kijun-sen under the Cloud; the prices broke the Cloud’s resistance and entered into the positive area. More: https://fbs.com/analytics/articles/gbp_usd%3a_pound_broke_ssb%E2%80%99s_resistance_1432 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 MORNING BRIEF FOR JUNE 6: IT IS ALL ABOUT THURSDAY 05:47 06.06.2017 Markets today are exceptionally quiet before the great Thursday with ECB meeting, UK general election, and Comey’s testimony all scheduled for the same day. The yen strengthened to 109.86 against the USD in Tokyo reaching its highest level since April 25. USD/JPY may extend its downfall to 108.85 in the short-term unless USD manages to reclaim its positions. The US dollar index which tracks the USD against a basket of its trade-weighted peers hit its seven-month low ahead James Comey testimony before Congress scheduled on Thursday. The euro pared its yesterday’s losses and rose above 1.1265 ahead of the ECB meeting which is due on Thursday. A Bloomberg survey showed 90% analysts anticipate the ECB to upgrade its risks around the Eurozone recovery to balanced. The main focus will be on whether the central bank removes its easing bias on interest rates. If it is the case, we will see the EUR posting new gains against USD. The technical outlook for EUR/USD is still positive. To reaffirm our expectations, the pair should break a solid resistance at 1.1300. Otherwise, it may slide lower towards the support at 1.1210. Australian dollar registered new highs in Tokyo morning following the RBA rate announcement. The central bank left its rates and policy unchanged saying that current monetary policy settings is consistent with growth and inflation targets. It also noted that an appreciating A$ would complicate economic rebalancing. The undertone for AUD/USD is still positive. Aussie may extend its recent rebound started last week at least to 0.7520. From here, a sustained move upside is not expected. The AUD/USD may rollback towards the support at 0.7425. GBP recovered from its recent drop and rose to 1.2925 after a Guardian/ICM poll showed Tories have an eleven-point lead over Labour. The general election is scheduled for Thursday. We would cautious to change our neutral outlook at this stage before the Thursday’s ground-shaking event. Now, GBP/USD is trading range bound within the 1.2765 – 1.2950 levels. USD/CAD dropped below 1.3460 overnight mainly on surging oil prices. The latter ones were trading a little bit higher in Monday’s session being driven by the political clash in the Gulf. Saudi Arabia, Egypt, UAE and Bahrain cut their ties with Qatar with the aim to punish the nation for its links with Islamist groups. In Tokyo morning, traders downplayed their concerns that Qatar’s isolation might hamper its oil supply. So, the Brent and WTI oil futures suffered significant losses. Brent crude declined to $49.23, WTI – to $47.15 from yesterday’s high at $48.42. More: https://fbs.com/analytics/articles/morning_brief_for_june_6%3a_it_is_all_about_thursday_1436 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 EUR/USD: BULLS STRENGTHEN THEIR GRIP 06:22 06.06.2017 On the EUR/USD daily chart, the quotes are moving towards the resistance at 1.1345 (78.6% of the last downward wave). Until the euro breaks the support at 1.117 the pair will be under the Bulls' control. For the development of the correction, the quotes should fall below 1.113. On the EUR/USD hourly chart, a break of the lower border of the upward trading channel and the combination of the "Three Indian" and 1-2-3 patterns will create prerequisites for a rollback. The target of the corrective movement is the convergence zone of 1.121-1.1215 (target in the Gartley pattern + psychologically important support). More: https://fbs.com/analytics/articles/eur_usd%3a_bulls_strengthen_their_grip_1437 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 USD/CHF: BULLS ARE GRASPING AT STRAW 06:23 06.06.2017 Recommendations: SELL 0,962 SL 0,9675 TP1 0,952 TP2 0,9535, BUY 0,9665 SL 0,961 TP1 0,9745 TP2 0,978. On the USD/CHF daily chart, there is an acceleration of the downtrend. If the Bears manage to keep the quotes below the support at 0.9635 ($88.6 from the last ascending near-term wave), the risks for the continuation of the rally towards 0.9435 will increase. On the USD/CHF hourly chart, activation of the inverted Crab pattern in the case of the breakout of the resistance at 0.9665 might lead to the implementation of the Wolfe Wave pattern. In contrast, a break of the support at 0.962 will send quotes lower. More: https://fbs.com/analytics/articles/usd_chf%3a_bulls_are_grasping_at_straw_1438 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 THURSDAY'S TRIPLE RIPPLE EFFECT: UK ELECTIONS, COMEY'S TESTIMONY AND ECB MEETING 07:44 06.06.2017 This is all about this Thursday when the UK general election together with the ECB monetary policy meeting will be held and James Comey will testify before Congress on whether Trump pressured him to end the Russian probe into Michael Flynn or not. The UK elections There are three scenarios of how this election may unfold Conservatives win a solid majority of votes. The following result will accord at least modest relief for the British pound. Conservatives do secure victory but without a material improvement in their majority. The undertone for GBP in this scenario will be negative. A hung parliament with no party having an absolute majority of votes. If the following scenario materializes, the immediate pound’s reaction will be negative. At around 10 pm GMT +1 voting ends across the UK and broadcaster release their exit poll. Normally, they are quite good at predicting the actual results. The exit poll of the 2015 general election showed that David Cameron was on course to remain Prime Minister with the Tories as the biggest party in parliament. This was an accurate prediction. 4 am GMT +1 will be probably the busiest time for traders, as the shape of the new parliament should be already clear unless the parties have the equal share of votes. At 7 am GMT+3 the latest result of the election will be announced. It will be almost over, as there will only six more results to appear till noon. By that time, we will already know who is the prime minister and what is the form of the new cabinet. The ECB monetary policy meeting The European Central Bank is set to deliver its interest rate and monetary policy statement at 2:45 pm MT time. Many analysts expect the ECB to upgrade its risk around the Eurozone economic recovery to balanced. Notwithstanding the solid economic data, the ECB may sound a less hawkish and more dovish given the fact that underlying inflation pressures remain subdued. If this eventuates, the euro will be titled to the downside taking into account already hawkish market expectations. But the euro’s slide wouldn’t be extensive as the USD on Thursday will likely remain weak as well because of James Comey testimony. James Comey’s testimony on Russia Former FBI Director James Comey is poised to testify before the US Senate intelligence committee. He will answer the question about Russian interference in the last year presidential election. Comey’s testimony is scheduled to begin at 10 am Eastern time (6 pm MT time). Last month, the New York Times alleged that Trump had asked Comey to drop an FBI investigation into possible links of his former national security advisor Michael Flynn with Russian entities. This was regarded by lawyers as an obstruction of justice – an impeachable offense. If allegations are confirmed by Comey, the USD will be hurt. More: https://fbs.com/analytics/articles/thursday%27s_triple_ripple_effect%3a_uk_elections%2c_comey%27s_testimony_and_ecb_meeting__1440 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 EUR/USD: BULLS PUSHING PRICE HIGHER 08:05 06.06.2017 There's a consolidation, which is taking place under resistance at 1.1287. So, the market is likely going to decline towards support at 1.1232 - 1.1204. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1325. The price is consolidating between the nearest resistance at 1.1278 and the 34 Moving Average. Therefore, bears are likely going to test the 89 Moving Average in the short term. However, if we see a pullback from this line, bulls will have a chance to reach the next resistance at 1.1287 - 1.1307. More: https://fbs.com/analytics/articles/eur_usd%3a_bulls_pushing_price_higher_1441 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 GBP/USD: BROKEN "TRIANGLE" 08:32 06.06.2017 Bulls faced resistance at 1.2945, so the pair is likely going to achieve the closest support at 1.2901 in the short term. Meanwhile, if a pullback from this level happens, there'll be an option to have the price higher. In this case, we should keep in mind resistance at 1.2964 - 1.2988 as an intraday target. The last "Triangle" pattern has been broken, so we've got a new local high. However, the price couldn't go through resistance at 1.2935 - 1.2952, so bears are likely going to test the 34 Moving Average. If we have a pullback from this line, bulls will probably try to test the next resistance at 1.2964. More: https://fbs.com/analytics/articles/gbp_usd%3a_broken_%22triangle%22_1444 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 EUR/USD: RESISTANCE BY THE UPPER "WINDOW" 12:33 06.06.2017 There's resistance by the upper "Window", so we've got a bearish "Tweezers", which has been confirmed. Therefore, there's an opportunity to have a correction in the direction of the 34 Moving Average, which could be a departure point for another bullish price movement. We've got a bearish correction, which is taking place on the one-hour chart. However, there's a "High Wave", so bulls are likely going to deliver a local upward correction. Nevertheless, the main intraday target is the 144 Moving Average, so we could have the market even lower. More: https://fbs.com/analytics/articles/eur_usd%3a_resistance_by_the_upper_%22window%22_1446 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 USD/JPY: LOCAL CORRECTION COMING SOON 13:05 06.06.2017 The price reached the nearest "Window", so there's an opportunity to have a bullish pattern. If so, the market is likely going to test the closest resistance, which could be a departure point for another decline. In this case, we should keep an eye on the next "Window" as an intraday bearish target. We've got two bearish "Three Methods" in a row, so the pair is likely going to continue moving down. However, there's also an option to have a local upward correction during the day. Anyway, we could have the market even lower soon. More: https://fbs.com/analytics/articles/usd_jpy%3a_local_correction_coming_soon_1447 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 EUR/USD: DEVELOPING IMPULSE 14:58 06.06.2017 There's a developing impulse in wave [c] of 2 with a diagonal triangle in wave (v). If a pullback from the upper side of this pattern happens, bears are likely going to test 3/8 MM Level. Wave iv of (v) may have been ended, so we could have a new local high in the coming hours. Meanwhile, if the price finds a lodgment under 8/8 MM Level, there'll be an opportunity to have a decline in the direction of 7/8 MM Level. More: https://fbs.com/analytics/articles/eur_usd%3a_developing_impulse_1450 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 GBP/NZD REACHED SELL TARGET 1.8000 15:39 06.06.2017 GBP/NZD reached sell target 1.8000 Next sell target - 1.7630 GBP/NZD today broke through the support zone lying between the round support level 1.8000 (which was set as the sell target in our previous forecast for this currency pair and which stopped the previous minor impulse wave 1 in May) and the 50% Fibonacci correction of the pervious upward price impulse from February. The breakout of this support zone should accelerate the active impulse wave 3, which belongs to the intermediate impulse © wave from the start of May. GBP/NZD is expected to fall to the next sell target at the next support level 1.7630. More: https://fbs.com/analytics/articles/gbp_nzd_reached_sell_target_1.8000_1451 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 6, 2017 Share Posted June 6, 2017 EUR/NZD REACHED SELL TARGET 1.5700 15:41 06.06.2017 EUR/NZD reached sell target 1.5700 Next sell target - 1.5480 EUR/NZD continues to fall after the earlier breakout of the support level 1.5700 (previous sell target, which has been reversing the price from the start of May, as can be seen from the daily EUR/NZD chart below). The breakout of the support level 1.5700 should accelerate the active minor ABC correction 2 – which started earlier from the key resistance level 1.6200. EUR/NZD is expected to fall to the next sell target at the next support level 1.5480 (previous resistance level from March and the target price for the termination of the active correction 2). More: https://fbs.com/analytics/articles/eur_nzd_reached_sell_target_1.5700_1452 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 7, 2017 Share Posted June 7, 2017 AUD/USD: AUSSIE UNDER MAY’S HIGHS 05:14 07.06.2017 Technical levels: support – 0.7510, 0.7480; resistance – 0.7550. Trade recommendations: Sell — 0.7550; SL — 0.7570; TP1 — 0.7510; TP2 — 0.7480. Reason: bullish Ichimoku Cloud, rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are under the strong resistance of May; the market is overbought and expected a correctional movements. More: https://fbs.com/analytics/articles/aud_usd%3a_aussie_under_may%E2%80%99s_highs_1460 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 7, 2017 Share Posted June 7, 2017 USD/JPY: DOWNTREND CONTINUES 05:16 07.06.2017 Technical levels: support – 108.70; resistance – 109.90. Trade recommendations: Sell — 109.90; SL — 110.10; TP1 — 109.10; TP2 — 108.70. Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices formed a new lows, but market is oversold and Dollar may go to Tenkan-sen. More: https://fbs.com/analytics/articles/usd_jpy%3a_downtrend_continues_1461 Quote Link to comment Share on other sites More sharing options...
riki143 Posted June 7, 2017 Share Posted June 7, 2017 MORNING BRIEF FOR JUNE 7 05:57 07.06.2017 There is lots of anxiety ahead of Thursday’s events. Nervous investors streamed into low-risk bonds and other safe-haven assets ruled by fears of Britain general election, the ECB policy meeting and James Comey’s testimony, all planned for Thursday. The US dollar weakness reverberated across the trading desk on Tuesday. The yen was a great outperformer. It strengthened to 109.20 yesterday. In Tokyo morning, the USD regained its strength and popped a little higher to 109.55. EUR/USD acted in the similar pattern. Yesterday, the single currency picked higher due to weaker USD. In the Asian session, it fell to 1.1265. The ECB meeting will have to decide whether there will a considerable rebound from the present level to the key resistance at 1.1300. AUD/USD picked up on the positive quarterly GDP out of Australia beating investors’ worst fear. It posted a 0.3% gain which is tiny little comparing the forecasts envisioned by the Reserve Bank of Australia. The undertone for this pair is largely positive. It is trading at 0.7535 and may surge higher at least towards 0.7555/0.7575 levels. Extension beyond the following levels is unlikely. GBP/USD continues to trade sideways waiting for the major event of this week – the UK general election. Some polls indicate that Conservative party of the incumbent PM Theresa May is on course to increase its parliamentary majority, while others show the narrowing gap between the Tories and Labor. Don’t miss housing prices coming from Halifax Ban of Scotland. USD/CAD ticked a little bit higher in the Asian session. Today’s focus will be on the Canadian building permits. Brent crude futures is hovering near $50. It rose overnight due to rising tensions in the Middle East. Saudi Arabia, Egypt, OAE, Bahrain cut links with Qatar having accused it for supporting Islamist groups, Despite the sanctions imposed by the neighboring countries, Qatar pledged to fulfill its obligations under the OPEC agreement. More: https://fbs.com/analytics/articles/morning_brief_for_june_7_1463 Quote Link to comment Share on other sites More sharing options...
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