BITCOIN Analysis for June 15, 2018

Bitcoin bounced above $6,500 area yesterday quite surprisingly. This opens the doors for the bulls to push the price higher for a certain period of time. Due to the recent negative reports about hacker attacks and Bitcoin experts signaling the price to move lower towards $5,000, the sentiment was quite against the bullish pressure. Nevertheless, yesterday we observed certain bullish pressure leading to a bullish daily close above $6,500 area, the price is expected to push higher for a certain period towards the dynamic level of 200 EMA residing at $7,000-7,500 area. After the price is rejected off the area, the bearish pressure is expected to continue to push the price lower with a target towards $5,000 area in the coming days. As the price remains below $8,000 area, the bearish bias is expected to continue further.

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Fundamental Analysis of EUR/GBP for June 15, 2018

EUR/GBP has been residing inside the correction range 0.87 to 0.8850 area for a few weeks now, where the price showed impulsive bearish pressure yesterday following the recently published EUR economic reports and events.

Recently EUR Main Refinancing Rate report was published with an unchanged value as expected at 0.00% but ECB failed to impress the market participants with its upcoming plans to for the economic growth. EUR economy has been quite unimpressive recently leading EUR to lose certain grounds in the market. Today EUR Final CPI report was published with an unchanged value as expected at 1.9%, Final Core CPI report was also published unchanged as expected at 1.1% and Trade Balance report was published with a decrease to 18.1B from the previous figure of 19.8B which was expected to increase to 20.2B.

On the other hand, GBP gained momentum having better than expected Retail Sales report yesterday. Retail Sales report was published at 1.3% decrease from the previous value of 1.8% which was expected to decrease to 0.5%. The better than expected result helped GBP to gain momentum when EUR was struggling to make an impact. As a result, GBP gained quite impulsively against EUR in the process which is expected to continue further in the coming days leading to more gains on the GBP side in the future.

Now let us look at the technical view. The price has rejected the bulls with greater extent today after the recent impulsive bearish pressure breaking below 0.8750 area with a daily close. Though the price is currently residing inside the support area of 0.8700-50 the bears are expected to push the price much lower towards 0.85 in the coming days. As the price remains below 0.8850 area with a daily close, the bearish bias is expected to continue further.

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Fundamental Analysis of AUD/JPY for June 15, 2018

AUD/JPY has been quite impulsive in the bearish bias after bouncing off the 84.00 area with a daily close recently. Amid the recent mixed employment report from Australia, JPY has gained impulsive momentum which is expected to encourage a further downward move in the coming days.

Today, RBA Assistant Governor Ellis spoke about the nation's key interest rate and future monetary policies which had a neutral impact on the market. RBA is currently in the process to develop plans for GDP growth with not much change in the policies which will be inveiled in the coming days.

On the other hand, today Japan's Policy Rate report was published with the same record low key policy rate at -0.10% in line with expectations, whereas BOJ Press Conference was quite indecisive, having a neutral impact on further economic developments.

As for the current scenario, certain correction and indecision is expected in this pair in the short run. JPY is expected to have an upper hand over AUD in the process, as AUD is found struggling for gains amid the fresh employment reports.

Now let us look at the technical view. The price is currently residing below 83.50-84.00 resistance area after the recent rejection off the level with a daily close. The price is being held by the dynamic level of 20 EMA in the process along with Bearish Divergence as well, which is expected to push the price much lower towards 80.50-81.50 support area in the coming days. As the price remains below 84.50 area with a daily close, the bearish bias is expected to continue further.

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EUR/USD analysis for June 15, 2018

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1542. According to the H1 time – frame, I found a potential end of the bullish corrective phase in the background. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1510.

Resistance levels:

R1: 1.1760

R2: 1.1950

R3: 1.2050

Support levels:

S1: 1.1469

S2: 1.1370

S3: 1.1178

Trading recommendations for today: watch for potential selling opportunities.

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Fundamental Analysis of EUR/CAD for June 15, 2018

EUR/CAD is currently residing below 1.53 price area after being rejected off the 1.5350 price area with an impulsive bearish daily candle. EUR has been quite weak in comparison to CAD in the current market scenario, where the price is expected to push much lower in the coming days.

Despite the recent weak economic reports of CAD including a decrease in Employment Change to -7.5k from the previous figure of -1.1k, did have an impact on the growth of CAD in the process. Recently CAD NHPI report was published unchanged at 0.0% which was expected to increase to 0.2%.

On the other hand, EUR has been quite mixed with the recent economic reports whereas ECB had less to offer for the currency growth in the market. Today Final CPI report was published with an unchanged value as expected at 1.9%, Final Core CPI report was also published unchanged as expected at 1.1% and Trade Balance report was published with decrease to 18.1B from the previous figure of 19.8B which was expected to increase to 20.2B.

As of the current scenario, CAD is expected to gain further momentum over EUR in the coming days as of the recent EUR worse economic reports having impact on the economy growth. Though there are certain high impact economic events like ECB President Draghi's speech for a multiple time which is expected to inject volatility ahead of the CAD CPI and Retail Sales report to be published in the coming days.

Now let us look at the technical view. The price is currently residing at the edge of breaking below the dynamic level of 20 EMA after being bounced off with a daily close from 1.5350 area. Currently the price is forming certain Continuous Bearish Divergence in the process, which is expected to push the price lower towards 1.50 in the coming days. As the price remains below 1.5350 area, the bearish bias is expected to continue further.

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