Intraday technical levels and trading recommendations for EUR/USD for June 27, 2018

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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.

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

The price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established. However, the EUR/USD bulls failed to pursue towards higher bullish targets.

Instead, further bearish momentum was expressed in the market.

Recently, the price zone (1.1850-1.1750) offered significant bearish rejection and a valid SELL entry. Bearish target around 1.1520 has already been reached on Thursday.

On the other hand, the price zone of 1.1520-1.1420 was considered a prominent bullish demand where a valid bullish BUY entry was offered during last week's consolidations.

Bullish target levels are located around 1.1650 and probably 1.1740 (lower limit of the depicted supply zone) where price action should be watched for further decisions.

Hence, the EUR/USD pair remains trapped between the depicted key-levels 1.1520 and 1.1750 until a breakout occurs in either direction.

A bearish breakdown below 1.1400 might occur if enough bearish pressure is applied. This would potentially enhance further bearish decline towards 1.1270 (recent consolidation range and demand level).

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NZD/USD Intraday technical levels and trading recommendations for for June 27, 2018

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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 previous consolidations.

The NZD/USD pair had been trapped between the price levels of 0.7170 and 0.7350 until 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 (the 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 needed 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 was considered a key level for the NZD/USD bears.

As anticipated, the recent bullish pullback towards the price level of 0.7050 (the 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 0.6925 to secure some profits.

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

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BITCOIN Analysis for June 27, 2018

Bitcoin has been correcting itself below $6,500 area for a few days in a row. The price is heading lower currently with a target towards $5,000 in the short term. Market participants are currently quite worried about the Bitcoin's fall below $6,500 area recently. This fall is assumed as the result of recent hacking attempts on several cryptocurrency exchanges. The slump in the Bitcoin's value marks a new sense of uncertainty but the trading volumes are still consistent that is viewed as positive signs at present. As for the current scenario, the price is expected to decline towards $5,000, making confluence with the dynamic level of 20 EMA with non-volatile bearish momentum by the side. As the price remains below $6,500 area with a daily close, the bearish bias is set to continue further.

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Fundamental Analysis of USD/CHF for June 27, 2018

USD/CHF has been a bit bullish recently after bouncing off the 0.9850 area with a daily close. After certain retracement in the bullish trend, the price resumed the upward bias in a expected move. The question is open how the price is going to react, reaching the resistance area of 0.9980 to 1.0050.

After the recent rate hike ny the US Fed, USD has been quite impulsive with the gains over CHF which led the price to reach a new high of the year. After a series of downbeat economic reports from the US, the pair made pullbacks along the way. Amid lingering trade jitters, the pair has not gained obvious momentum. Today, US Core Durable Goods Orders report is going to be published which is expected to decrease to 0.5% from the previous value of 0.9%, Durable Goods Orders are expected to decrease in deficit to -0.9% from the previous value of -1.6%, Goods Trade Balance is expected to increase in deficit to -68.9B from the previous figure of -67.3B, and Prelim Wholesale Inventories report is expected to increase to 0.2% from the previous value of 0.1%. Additionally, Pending Home Sales report is expected to show an increase to 0.4% from the previous value of -1.3%, Crude Oil Inventories are expected to decrease in deficit to -2.4M from the previous figure of -5.9M. FOMC Member Quarles is going to speak today as well. His speech is likely to inject certain volatility in the market.

On the other hand, today Switzerland's Credit Suisse Economic Expectation report was published with a decrease to 8.0 from the previous figure of 28.0. Moreover, SNB Quarterly Bulletin is due today which is expected to inject certain volatility in the pair as well.

As for the current scenario, CHF is currently quite soft amid the recent economic reports and expectations whereas USD is expected to strengthen further in the coming days. Though certain corrections may be observed, USD is going to hold the upper hand in this pair.

Now let us look at the technical view. The price is currently heading higher with a target towards the resistance area of 0.9980-1.0035 which is also residing above the dynamic level of 20 EMA. On the back of the recent bullish momentum off the 0.9850 area, the price is expected to climb higher in the coming days, though certain correction and volatility may be observed. As the price remains above 0.97 area, the bullish bias is expected to continue further.

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Technical analysis of USD/CHF for June 27, 2018

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Overview:

The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9943, the market will indicate a bearish opportunity below the new strong resistance level of 0.9943 (the level of 0.9943 coincides with a ratio of 78.6% Fibonacci). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9943, so it would be good to sell at 0.9940 with the first target of 0.9795. It will also call for a downtrend in order to continue towards 0.9733. The daily strong support is seen at 0.9733. On the other hand, the stop loss order should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.9994.

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Technical analysis of EUR/USD for June 27, 2018

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Overview:

The EUR/USD pair is still trading below the level of 1.1734. The EUR/USD pair has found strong support at the level of 1.1543. So, the strong support has been already encountered at the level of 1.1543 and the pair is likely to try to approach it in order to test it again and form a double bottom. Hence, the EUR/USD pair is continuing to trade in a bullish trend from the new support level of 0.9660; to form a bullish channel. According to the previous events, we expect the pair to move between 1.1662 and 1.1543. Also, it should be noted that major resistance is seen at 1.1734, while immediate resistance is found at 1.1662. Then, we may anticipate potential testing of 1.1662 to take place soon. Moreover, if the pair succeeds in passing through the level of 1.1662, the market will indicate a bullish opportunity above the level of 1.1617. A breakout of that target will move the pair further upwards to 1.1662. Buy orders are recommended above the area of 1.1617 with the first target at the level of 1.1662 and continue towards 1.1698. On the other hand, if the EUR/USD pair fails to break out through the resistance level of 1.1662; the market will decline further to the level of 1.1490.

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Trading recommendations for the EUR / USD currency pair on June 26, 2018

Yesterday's recommendation coincided by 100% and fixation within the level of 1.1650 was excellent for placing a pending order, resulting in an excellent entry point with a rapid movement to the predicted value of 1.1720. What do we have? Stop / rollback, and it is quite reasonable because of the Fibo value of 23.6, which as a result increases the resistance. Today, as such, there is no news, except for the small batch of data from the United States, including the Composite index of the cost of housing S & P / CS Composite-20 without seasonal fluctuations and CB Consumer confidence index.

In fact, the output data is unchanged.

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Further vision

It is still too early to speak about any further upward movement. The level of 1,1720 is not broken and at the very time you are working very well. While it is possible to consider short positions, we will return to the level of 1.1650. But going further is already a question. Positions to buy at this time are only in pending orders. Fixation above 1.1730 is likely to lead to a further move to 1.1850, where the variable range level is located in conjunction with Fibo 38.2. For me, this level (1.1850) is strong. I would postpone buying positions as such, as if we go back to 1.1650. Perhaps, the most interesting variations will appear.

Indicator analysis

Analyzing the different sector of timeframes (TF), we can see that there is a downward mood in the short term, confirming the above with the move to the level of 1.1650. In the intraday perspective there is still a rising interest, which, perhaps, after approaching level 1, 1650 will be replaced. The medium-term perspective continues to signal a downward mood.

zfDMJ0E-mXdubXiXYfOsSd4pi2UuEmqF8yo0A36WWeekly volatility / Volatility measurement: Month; Quarter; Year

The measurement of volatility reflects the average daily fluctuation with the calculation for the Month / Quarter / Year.

(June 26 - it was recorded in the account of the publication of the article)

yd-fQhOJQ2Nh7QgYyiPHRFrK3_5JkNYbvj3y0q5TKey Levels

Resistance zones: 1,1720 *; 1.1850; 1,2100

Support zones: 1.1650 *; 1.1550 ** (1.1510 / 1.1550); 1.1440; 1.1300 **

* Periodic level

** Range level

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Bitcoin analysis for June 27, 2018

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Trading recommendations: According to the H1 time frame, I found a potential end of the downward correction (flat abc), which is a sign that selling looks risky. I also found a hidden bullish divergence in the background, which is another sign of strength. My advice is to watch for potential buying opportunities if you see a breakout of the supply trendline. The upward target is set at the price of $6.772.

Support/Resistance

$5.990 – Intraday resistance; $6,232 – Intraday support; $6.772 – Objective target

With InstaForex, you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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Analysis of Gold for June 27, 2018

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Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,253.00. According to the H1 time - frame, I found that sellers are in control and that there is a broken intraday bearish flag. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,249.50, $1,235.85 and at the price of $1,228.75.

Resistance levels: R1: $1,267.35R2: $1,274.85R3: $1,280.35

Support levels: S1: $1,254.35S2: $1,248.87S3: $1,241.35

Trading recommendations for today: watch for potential selling selling opportunities.

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Review of GBP / USD pair for the week of June 27 on simplified wave analysis

The wave pattern of the H4 graph:

The direction of the short-term trend is indicated by the bearish wave of the instrument emerging from January 25. The preliminary target zone is approximately in 5 price figures below the current price values.

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The wave pattern of the H1 graph:

The bearish wave of April 17 in higher timeframe takes the place of the final part (C). In the last month, the price forms a counter correction in a wrong form, in which the final lift is lacking.

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The wave pattern of the M15 chart:

The ascending section from June 21st started the bullish wave. The lifting potential is limited by the design resistance.

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Recommended trading strategy:

Purchases are risky and they can only be used in inter-session trading. It is better to look for signals for the sale of the pair in trading in higher sections of the schedule in order to roll back up.

Resistance zones:

- 1.3520 / 1.3570

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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Fractal analysis for major currency pairs as of June 27

Dear colleagues.

For the EUR / USD pair, the price is close to the key support for the upward movement of June 21 at 1.1621. For the GBP / USD pair, the price is in the correction zone from the rising structure on June 21. For the USD / CHF pair, we follow the downward structure from June 21. We continue to move downwards after the breakdown of 0.9863. For the USD / JPY pair, the price is in correction from the downward structure on June 15. For the EUR / JPY pair, the price has entered the equilibrium state. For the GBP / JPY pair, the continuation of the movement downwards is expected after the breakdown at 145.00. The range of 146.20 - 146.58 is the key resistance level.

Forecast for June 27:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD pair, the key levels on the scale of H1 are: 1.1807, 1.1761, 1.1729, 1.1683, 1.1660, 1.1621 and 1.1568. Here, the price is close to lifting the upward structure from June 21, which requires breakdown at the level of 1.1621. In this case, the first potential target is 1.1568. The continuation of the upward movement is expected after the breakdown of 1.1696. Here, the first target is 1.1729. The breakdown of this level will allow us to count on the movement towards 1.1761. Near this level is the consolidation of the price. The potential value for the top is the level of 1.1807. Upon reaching this level, we expect a pullback downwards.

The main trend is the upward structure of June 21, the stage of deep correction.

Trading recommendations:

Buy: 1.1698 Take profit: 1.1727

Buy 1.1730 Take profit: 1.1760

Sell: 1.1618 Take profit: 1.1575

Sell: Take profit:

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For the GBP / USD pair, the key levels on the scale of H1 are 1.3441, 1.3395, 1.3326, 1.3281, 1.3225, 1.3191, 1.3143, 1.3097 and 1.3030. Here, the price is in the zone of initial conditions for the upward movement of June 21. Short-term upward movement is expected in the area of 1.3281 - 1.3326. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.3395. We consider the level of 1.3441 to be a potential value for the upward trend. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3225 - 1.3191. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3143. This level is the key resistance for the bottom. Its breakdown will lead to a movement towards the level of 1.3097. The potential value for the bottom is the level of 1.3030.

The main trend is the formation of the potential for faiths from June 21.

Trading recommendations:

Buy: 1.3282 Take profit: 1.3324

Buy: 1.3328 Take profit: 1.3395

Sell: 1.3224 Take profit: 1.3192

Sell: 1.3188 Take profit: 1.3147

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For the USD / CHF pair, the key levels on the scale of H1 are: 0.9950, 0.9921, 0.9902, 0.9863, 0.9826, 0.9804, 0.9771 and 0.9754. Here, we follow the formation of a downward structure from June 21. Currently, the price is in correction. The continuation of the downward movement is expected after the breakdown of 0.9860. In this case, the target is 0.9826. In the area of 0.9826 - 0.9804 is short-term downward movement as well as the consolidation of the price. The breakdown at the level of 0.9804 will allow us to count on the movement towards the potential target of 0.9754. Upon the reaching this level, we expect consolidation in the area of 0.9771 - 0.9804.

Short-term upward movement is possible in the area of 0.9902 - 0.9921. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9950. This level is the key support for the downward structure from June 21.

The main trend is the formation of a downward structure from June 21.

Trading recommendations:

Buy: 0.9902 Take profit: 0.9920

Buy: 0.9925 Take profit: 0.9950

Sell: 0.9860 Take profit: 0.9828

Sell: 0.9824 Take profit: 0.9808

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For the USD / JPY pair, the key levels on a scale are: 110.89, 110.38, 110.01, 109.75, 109.28, 109.00, 108.50 and 108.17. Here, we follow the downward structure of June 15. At the moment, the price is in the correction zone. Short-term downward movement is expected in the area of 109.28 - 109.00. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.50. The potential value for the top is the level of 108.17. After reaching this level, we expect a rollback to the top.

Consolidated traffic is possible in the area of 109.75 - 110.01. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.38. This level is the key support for the downward structure from June 15.

The main trend is the downward structure of June 15.

Trading recommendations:

Buy: 109.75 Take profit: 110.00

Buy: 110.04 Take profit: 110.35

Sell: 109.28 Take profit: 109.02

Sell: 109.00 Take profit: 108.52

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For the CAD / USD pair, the key levels on the H1 scale are: 1.3454, 1.3400, 1.3340, 1.3260, 1.3219, 1.3159 and 1.3116. Here, we follow the local upward structure of May 31. The continuation of the upward movement is expected after the breakdown of 1.3340. In this case, the target is 1.3400. Near this level is the consolidation of the price. The potential value for the top is the level of 1.3454. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3260 - 1.3219. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3160. The range of 1.3159 - 1.3116 is the key support for the top.

The main trend is the upward structure of May 31.

Trading recommendations:

Buy: 1.3340 Take profit: 1.3400

Buy: 1.3402 Take profit: 1.3452

Sell: 1.3260 Take profit: 1.3220

Sell: 1.3216 Take profit: 1.3160

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For the AUD / USD pair, the key levels on the scale of H1 are: 0.7569, 0.7512, 0.7440, 0.7400, 0.7322, 0.7262 and 0.7216. Here, we continue to follow the downward cycle from June 6. The continuation of the downward movement is expected after the breakdown of the level of 0.7322. Here, the target is 0.7262. In the area of 0.7262 - 0.7216 is the consolidation and from here, we expect a key upward turn.

Consolidated traffic is possible in the area of 0.7400 - 0.7440. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7512. We expect initial conditions for the upward cycle to reach the level of 0.7569.

The main trend is the downward cycle from June 6, the correction stage.

Trading recommendations:

Buy: 0.7442 Take profit: 0.7510

Buy: 0.7514 Take profit: 0.7566

Sell: 0.7320 Take profit: 0.7264

Sell: 0.7260 Take profit: 0.7218

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For the EUR / JPY pair, the key levels on the scale of H1 are: 129.52, 128.80, 127.80, 126.77, 126.18, 125.08 and 124.15. Here, the situation has entered the equilibrium state. Short-term downward movement is expected in the area of 126.77 - 126.18. The breakdown of the last value will lead to a movement towards the level of 125.08. Near this level is the consolidation of the price. The potential value for the bottom is the level of 124.15. From this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 127.80 - 128.29. The breakdown of the last value will lead to in-depth correction. Here, the target is 128.80. This level is the key support for the downward structure from June 13. Its breakdown will lead to the development of an upward structure. In this case, the potential goal is 129.52.

The main trend is the equilibrium state.

Trading recommendations:

Buy: 127.80 Take profit: 128.25

Buy: 128.32 Take profit: 128.80

Sell: 126.75 Take profit: 126.20

Sell: 126.14 Take profit: 125.15

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For the GBP / JPY pair, the key levels on the scale of H1 are: 146.58, 146.20, 145.01, 144.47, 143.96, 143.16 and 142.69. Here, the price is in correction from the downward structure on June 7. The continuation of the downward movement is expected after the breakdown of the level of 145.01. Here, the first target is 144.47. In the area of 144.47 - 143.96 is short-term downward movement as well as the consolidation of the price. The breakdown at 143.95 should be accompanied by a pronounced movement towards the level of 143.16. The potential value for the bottom is the level of 142.69. From this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 146.20 - 146.58. This range is the key support for the downward structure. Passing the price will lead to the development of the upward movement. In this case, the target is 147.28. Near this level is the consolidation of the price.

The main trend is the downward cycle from June 7, the correction stage.

Trading recommendations:

Buy: 146.20 Take profit: 146.55

Buy: 146.65 Take profit: 147.25

Sell: 145.00 Take profit: 144.50

Sell: 144.41 Take profit: 144.00

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EUR/USD analysis for June 27, 2018

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Recently, EUR/USD has been trading downwards. The price tested the level of 1.1623. According to the H1 time - frame, I found a potential end of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found a breakout of the upward trendline and bearish flag in the background, which is another sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1510.

Resistance levels: R1: 1.1700R2: 1.1750R3: 1.1785

Support levels: S1: 1.1615S2: 1.1858S3: 1.1530

Trading recommendations for today: watch for potential buying selling opportunities.

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Fundamental Analysis of EURAUD for June 27, 2018

EUR/AUD has been quite impulsive with the bullish gains recently which led the price to reside above 1.5750 area with a daily close. Recent decrease in Employment Change in Australia subdued the growth of the aussie against EUR which led to certain weakness in the pair.

Today, the eurozone's M3 Money Supply report was published with an increase to 4.0% which was expected to be unchanged at 3.8% and Private Loans remained unchanged at 2.9% which was expected to increase to 3.0%. Though the economic report revealed mixed readings, it managed to gain certain momentum in the process over AUD today.

On the other hand, the economic calendar lacks macroeconomic data or events from Australia which could inject volatility in the market this week. Next week, Cash Rate report is due in Australia which is expected to be unchanged at 1.50%. Moreover, RBA Rate Statement will be announced on the same day which is expected to clear up the central bank's plans on monetary policy. Till now, the Reserve Bank of Australia has not dropped a hint about the nearest rate hike. Global investors assume the RBA may act hawkish in the short term.

As for the current scenario, EUR is expected to gain further momentum over AUD ahead of the RBA policy decision which will be announced next week. Till now, EUR is the leading currency in the pair. Amid expectations of a series of the eurozone's economic reports throughout the week, EUR is expected to extend strength.

Now let us look at the technical view. The price is currently residing above 1.5750 area with a daily close which may correct itself along the way before pushing higher towards 1.60 and later towards 1.62 area in the future. Though the price is currently residing way above the dynamic level of 20 EMA, a pullback and correction is expected in the coming days. As the price remains above 1.5750 area with a daily close, the bullish bias is expected to continue further.

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Global macro overview for 27/06/2018

Since Monday, the gold prices have come under selling pressure. The yellow metal rate dropped by 0.1%, and on Tuesday morning it dropped by 0.5%, going down to the lowest level since December. In this way, gold has squandered this year's profits in just over two months. Please notice, that in mid-April, an ounce of gold cost almost 1,370 dollars and was the most expensive since July 2016.

The macroeconomic reason behind this gold sell-off is seen as the consequences of central bankers' decisions. And these lately are not very beneficial for gold - at least in the short run. In June, the Federal Reserve made another interest rate increase and announced the intensification of the monetary policy normalization process. The European Central Bank may also break the policy of easy money until the end of the year. In the short run, closing the tap with easy and incredibly cheap money should lead to a decrease in the investment attractiveness of gold. After all, many bought yellow metal for fear of the effects of monetary insanity of central bankers. Now that the last ones have come to their senses and are trying to restore the pre-crisis order, gold seems less needed. Only that an attempt to normalize interest rates may end in a serious crisis and the final collapse of the current monetary system - too much has become addicted to cheap credit. And that would help gold in the long run. The thing is, however, that this shorter period may take long enough that many holders of long gold positions may not survive.

This scenario was backed up by the technical analysis. After the Friday session on the daily chart, the 50-session stepped through the top 200-session average. Technical analysts call this formation the "death cross" (there is no consensus here: different experts take other averages), supposed to herald a further sell-off. The previous "death cross" on the gold market appeared in November 2016. At that time, on the wave of optimism caused by the election of Donald Trump to the seat of the President of the United States in less than two months, dollar quotations dropped by nearly 8%. However, statistically speaking, the "death cross" is not a particularly effective formation. Yes, it sometimes precedes epic declines, but definitely more often generates incorrect or late sales signals, so no reason to panic yet, although the next important technical support is seen at the level of $1,236.

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EUR/AUD Testing Resistance, Prepare For A Reversal!

EUR/AUD is testing its resistance at 1.5818 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing the price to fall to its support at 1.5672 (38.2% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 1.5748 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching resistance at 96% where a corresponding reversal could occur.

Sell below 1.5818. Stop loss at 1.5905. Take profit at 1.5672.

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GBP/JPY Approaching Support, Prepare For A Bounce!

GBP/JPY is approaching its ascending support line at 144.98 (61.8% Fibonacci extension, 76.4% & 78.6% Fibonacci retracement, horizontal swing low support) where we expect the price to bounce up from there, to its resistance at 146.60 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) is approaching its corresponding ascending support line where we expect to see a similar bounce.

Buy above 144.98. Stop loss at 144.24. Take profit at 146.60.

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Review of EUR / USD as of June 27, 2013

The Bank of England and the ECB regularly began to help each other about a difficult matter, which is the collapse of their national currencies, respectively. This time the Bank of England showed itself, as the Bank of England Governor Jonathan Haskel stated during his speech that if the economic situation worsens, there is no need to raise the refinancing rate. Such words were taken literally as a recognition that the Bank of England should not wait for tightening of monetary policy in the near future, as the pace of UK economic growth is slowing down. Also, the Bank of England representative said that in the event of problems in financial markets, the regulator could renew the quantitative easing program. Also, this only applies to the pound because it's easy to draw comparison with the ECB. The Bank of England is forced to respond according to the conditions of a serious dependence of the British economy on what is happening in continental Europe. If the Bank of England representatives make such statements, as Jonathan Haskel did, then it was obviously done with an eye to the actions of the ECB. So many investors have made for themselves a simple conclusion and that the ECB will continue to extend the quantitative easing program. Hence, it is not surprising that the single European currency has confidently moved down.

The funny thing is that there were no other reasons for the weakening of the single European currency. On the contrary, the data of S&P / Case Shiller on US house prices showed a slowdown in their growth rates from 6.7% to 6.6%. Moreover, the previous data were revised downwards from 6.8% to 6.7%. And a similar result was quite expected on the background of a significant increase in the US home sales.

Today, the consumer lending data in Europe will come out and its growth rates can accelerate from 2.9% to 3.0%. The potential growth of the single European currency is further strengthened by expectations about US statistics, which are not so positive. In particular, commodity stocks in warehouses of wholesale trade can grow by another 0.2%, which means that stocks have been growing for seven months in a row. Also, durable goods orders should be reduced by 1.0%, since it was declining for two months in a row by which the US statistics are expected to be extremely weak. However, Mark Carney will have his speech today, and the head of the Bank of England may well enhance the negative effect caused by the words of his colleague.

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If the head of the Bank of England does not make harsh statements, then the single European currency may increase well in price to 1.1725. However, when Mark Carney confirms the words of Jonathan Haskel, then the single European currency will continue to move to 1.1575.

* The presented market analysis is informative and does not constitute a guide to the transaction.

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Global macro overview for 27/06/2018

Wall Street on Tuesday was supposed to show that the Monday discount scale was too big. In addition, the investors still had at the back of their heads that Donald Trump might change his mind at any time. They may have also suspected that the Monday drops in the indices would sober the US president. All this helped the bulls in Europe before the session, even though there was nothing left of the increases on these exchanges.

In the US, the S&P/Case-Shiller report was published on house prices in April and the June consumer confidence index provided by the Conference Board. The latter was able to influence the behavior of the markets quite strongly, but the reactions have been insignificant for several years. So it was this time. Let us just note that the S&P/Case-Shiller house price index in April increased by 6.6% y/y (expected growth by 6.8%). The Consumer Confidence Index - Conference Board amounted to 126.4 points. (it was expected to remain at the level of 128 points).

Wall Street started the session very uncertainly, but as it often happens after the session in Europe, the bull camp took over and the indexes began to grow. It helped a large increase in the price of oil and a large increase in the price of General Electric shares (resells its healthcare unit) and a bounce on high-tech companies' shares, which were overestimated on Monday. It is true that at the end of the session the supply attacked, but a small increase was saved.

One could say that the approaching end of the first half of the year must also help the holders of the campaign, despite the fact that nothing has changed on the front of the trade wars. On the contrary, Donald Trump threatened to quickly raise customs duties on cars from the EU. The Wall Street bull camp is definitely not yet dead, which, unfortunately, increases the threat of unleashing a real commercial war. The assets that will gain in case of this scenario are Gold, Yen, Franc and US Dollar.

Let's now take a look at the SP500 technical picture at the H4 time frame. The market has dropped below the important technical support at the level of 273.42, made a low at the level of 269.05 and now it is bouncing towards the level of 273.42 again in order to test it from below. A successful test (a rejection of this level) will put the bear in control over this market and lower lows should be expected. The next important technical support is seen at the level of 267.96 and 266.81. Weak momentum supports the general bearish bias, but the oversold market conditions indicate a short-term bounce first.

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Ichimoku cloud indicator analysis on EUR/USD for June 26, 2018.

UR/USD got rejected yesterday at the 61.8% Fibonacci retracement and pushed below short-term support at 1.1690. Price pulled back towards the lower cloud boundary and 38% Fibonacci retracement at 1.1640 and found support.

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The EUR/USD pair could be in the making of a higher low before continuing higher. Support at 1.1640 held and from current levels we can see a push higher. Key indicator for this scenario will be the RSI in our 4-hour chart. Bulls do not want to see the price of the RSI break the blue trend line support. If price breaks the blue TL, we should expect EUR/USD to move lower towards 1.1590.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis on Gold for June 27, 2018

Gold price remains in a bearish trend. Price is approaching important weekly support levels and at least a short-term bounce is approaching. Gold price has weekly oversold signals, warning not to be bearish at current levels. We have no reversal confirmation yet, but we believe that soon we will see the reversal. The key level is at $1,268.

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Green line - long-term support

Red line - long-term resistance

Blue arrows - reversal points when Stochastic was oversold.

Gold price is challenging the weekly cloud support and the weekly upward sloping trend line. All the previous times the stochastic was so oversold, Gold rallied. Our time frame is for the next 1-2 months and therefore our risk tolerance should be similar to the downside. Our target remains new highs above $1,400.

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Bitcoin analysis for 27/06/2018

Bitmain - ASIC producer and cryptocurrency giant - extracted 42% of all blocks found in the Bitcoin network in the last week. BTC.com and AntPool, owned by Bitmain, now account for 26.6% and 15.3% of the network hashrate respectively.

Bitmain has a big advantage over the competition because it produces and uses its own products in the mining process. The company produces specialized integrated circuits (ASICs) that are able to extract Bitcoins at a faster rate than high-end GPUs (GPUs).

It also runs mines where miners can combine their efforts and ultimately reduce mining costs, as well as offer mining services in the cloud, which allow miners to rent mining capacity from mining farms remotely.

With the help of its ASIC excavators, Bitmain also extracts Bitcoin Cash because Bitcoin and Bitcoin Cash operate on the same algorithm. If Bitmain stopped Bitcoin Cash mining and instead used 100% of its resources to dig Bitcoin, theoretically it could reach about 45% of Bitcoin's total hashate.

It is very close to 51%. Theoretically, this would give Bitmain the opportunity to perform a 51% attack on the Bitcoin network in order to censor transactions or double expenses. This makes many people in the cryptocurrency space quite nervous - a number often associated with the loss of decentralization and invariance.

In the end - there does not seem to be any reason to worry that Bitmain will perform an attack even if it exceeds the 51% threshold, because the company could potentially lose more than to gain.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has been testing the weekly pivot area at the level of $6,223 for several hours, but the bulls did not manage to move higher above the technical resistance at the level of $6,519. This is why the local support at the level of $6,090 was broken and now the price is going lower towards the swing low at the level of $5,742. It is worth to keep an eye on the market behavior around this level.

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Trading plan for 27/06/2018

The market attention is focused on the weakening of the yuan to the lowest level for 6 months. Trade tensions between the US and China remain the main topic, which sustains the pressure on commodity currencies and supports JPY. USD/CNY broke through the psychological level of 6.60 (at most to 6 months), even though the People's Bank of China set a fixing below market expectations. However, this does not weaken speculation that Beijing wants to depreciate the yuan as a tool in a trade dispute with the US.

The nervousness of the yuan market may spread to other emerging markets, although at the moment the reaction is minimal. But among the main currencies, we can see a weaker attitude of AUD, NZD and CAD, and the strongest is JPY. USD / JPY has been pushed to 110. EUR/USD drifts at 1.1650.

The biggest loss of night trade was spotted at New Zealand Dollar market as the NZD/USD has set an 8-month low at 0.6812. The market fears a dovish transmission from the RBNZ this evening. In addition, the business mood index ANZ disappointed by a decline to -39 from -27.2.

The stock markets reflect the tense atmosphere and uncertainty as the Japanese Nikkei falls 0.3% and the Chinese Shanghai Composite loses 1.1%.

On Wednesday 27th of June, the event calendar is light in important data releases, but the market participants should keep an eye on M3 Money Supply data from the Eurozone, Bank of England Financial Stability Report data and a bunch of data from the US: Durable Goods Orders, Goods Trade Balance, Wholesale Inventories, Pending Home Sales and Crude Oil Inventories. Thre are some speeches scheduled later today from FOMC Member Randal K. Quarles and Eric Rosengren. Just at the end of the trading day, BOC Governor Stephen Poloz will give a speech as well.

Crude Oil analysis for 27/06/2018:

The WTI crude oil is at the 6 weeks highs because yesterday the rally was initiated by the information that the US is pushing its allies to abandon the import of oil from Iran by November 4. Moreover, the API's report showed that last week crude oil inventories fell 9.2 million barrels. Before today's DoE report expectations are averaged to -2.2 million barrels. Please notice, that DoE report is the actual inventories of crude oil, gasoline, and distillate, such as jet fuel, as reported on a weekly basis. The numbers are watched closely by the energy markets, and if the results differ greatly from the expected inventory levels, the market can react strongly.

Let's now take a look at the Crude Oil technical picture at the H4 timeframe before the inventories data are released. The market stopped making lower highs and lower lows and instead it started to make higher highs and higher lows. The immediate support is seen at the level of 70.24 as the price is going to test the recent high at the level of 72.84. This scenario has even higher probability if the crude oil inventories data will be lower then estimated.

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BITCOIN Analysis for June 26, 2018

Bitcoin has been corrective and low on liquidity recently after breaking below the $6,500 area. The trend is still bearish and quite non-volatile but being on low liquidity does seem to worn out the market momentum a bit. No definite pressure on bullish and bearish side has been observed till now but as of the current market formation, the price is expected to push higher towards $6,500 to retest and reject with impulsive bearish pressure with target towards the $5,000-5,500 area. Additionally, Bullish Divergence developing recently is expected to push the price a bit higher before the bearish trend continues to push impulsively lower in the coming days. As the price remains below the $6,500 area with a daily close, the bearish bias is expected to continue further.

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