NZD/USD Intraday technical levels and trading recommendations for June 19, 2018


Since January, the price zone of 0.7320-0.7390 has been standing as a significant supply zone during recent bullish pullback. The bulls failed to execute a successful Bullish breakout above 0.7400 during the previous weeks' consolidations.

The NZD/USD pair had been trapped between the price levels of 0.7170 and 0.7350 until the bearish breakdown of 0.7200 occurred.

Since April 13, significant bearish pressure has been applied. This probably turns the short-term outlook for the NZD/USD pair into bearish giving considerable significance to the multiple-top reversal pattern.

That's why a bearish breakdown of 0.7220-0.7170 (neckline zone) was needed to confirm the depicted reversal pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already.

The bearish scenario needs obvious bearish persistence below 0.7050 to maintain significant bearish momentum towards 0.6860 and 0.6820. That's why the price level of 0.7050 is currently considered a key-level for the NZD/USD bears.

As anticipated, the recent bullish pullback towards the price level of 0.7050 (Broken Demand-Level) offered a good opportunity for sellers to have a valid SELL entry. It's already running in profits. S/L should be lowered to 0.6960 to offset the risk.

Currently, the price levels of 0.6820-0.6780 will be the next destination for the NZD/USD pair. It should be watched for bullish rejection and a target level for current sellers.

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Intraday technical levels and trading recommendations for EUR/USD for June 19, 2018


Daily Outlook

In April 2018, the short-term outlook turned to become bearish when the EUR/USD pair maintained trading below the broken uptrend as well as the lower limit of the depicted consolidation range.

Bearish persistence below the price level of 1.2200 allowed further bearish decline towards the price levels of 1.1990 and 1.1880.

As mentioned, the price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established.

The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, further bearish momentum was expressed in the market.

The price zone (1.1850-1.1750) was considered a prominent Supply zone where bearish rejection and a valid SELL entry were offered on Thursday. S/L should be lowered to 1.1660 to secure some of the profits.

On the other hand, the price zone of 1.1520-1.1420 is the next destination for the current bearish decline where price action should be watched for bullish demand and a possible bullish pullback.

Otherwise, Bearish breakdown below 1.1400 might occur if the current bearish momentum persists. This can potentially enhance further bearish decline towards 1.1270 (recent consolidation range and demand level).

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Review of GBP / USD pair for a week of June 19 on simplified wave analysis

The wave pattern of the H4 graph:

The direction of short-term trends of the major pound from January 25 this year sets the bearish wave algorithm. By now the structure has been formed, the preliminary goal has been achieved.


The wave pattern of the H1 graph:

The bearish wave of April 17 is the closest to this scale. It completes a larger wave model. Quotations have reached the upper boundary of the potential reversal zone.


The wave pattern of the M15 chart:

The last wave can be considered a bearish section of the traffic from June 7. In the near future, within the framework of this wave, an upward pullback is expected.


Recommended trading strategy:

Sales are risky and not recommended. For all bidders, it's more logical to wait for the current bearish wave to end and look for signals to buy a pair.

Resistance zones:

- 1.3450 / 1.3500

Support zones:

- 1.3180 / 1.3130

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems

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Technical analysis of GBP/USD for June 19, 2018



This week, the GBP/USD pair opened below the weekly pivot point (1.3429). It continued to move downwards from the level of 1.3429 to the bottom around 1.3225. Today, the first resistance level is seen at 1.3429 followed by 1.3580, while daily support 1 is seen at 1.3225.

Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.3225. So it will be good to sell at 1.3250 with the first target of 1.3200. It will also call for a downtrend in order to continue towards 1.3106. The strong daily support is seen at the 1.3106 level, which represents the double bottom on the H4 chart.

According to the previous events, we expect the GBP/USD pair to trade between 1.3250 and 1.3106 in coming hours. The price area of 1.3300 remains a significant resistance zone. Thus, the trend is still bearish as long as the levels of 1.3300/1.3429 are not broken. On the contrary, in case a reversal takes place and the GBP/USD pair breaks through the resistance level of 1.3429, then a stop loss should be placed at 01.3475.

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Indicator analysis. Daily review of EUR / USD pair for June 19, 2018

Trend analysis (Figure 1).

Touching the fifth support line gives 70% probability of top work with the first target of 1.1664 - Fibonacci level 14.6% (blue dotted line). After working off the strong news at 8.00 London time. an upward movement is possible, but for now, it will only be at the bottom.


Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - down;

- Fibonacci levels - neutral;

- volumes - down;

- candle analysis - neutral;

- trend analysis - up;

- Bollinger lines - up;

- Weekly schedule - up.

General conclusion:

On Tuesday, the market will move down with the first goal 1.1566 until 8.00 London time - e support line (white line). Then, it is possible to top.

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