EURUSD

EUR/USD is extending the overnight correction from six-week highs above 1.1000, drifting toward 1.0900 early Friday.  The Fed’s hawkish outlook and the risk-off impulse continue to underpin the safe-haven buck. EU and US PMIs in focus.

 If the pair continues the uptrend to the range of 1.0995, it is expected to continue the uptrend to the range of 1.1034.

On the other hand, If the pair continues the downtrend to the range of 1.0871, it is expected to continue the downtrend to the range of 1.0793.

USDJPY

USD/JPY makes rounds to 143.00 amid a lackluster Friday morning in Europe, after refreshing the yearly top the previous day. In doing so, the Yen pair pauses the previous two-day uptrend amid an overbought RSI (14) line. Adding strength to the quote’s latest inaction could be the cautious mood ahead of the US PMIs and fears of the US recession.

if the pair continues the uptrend to the range of 144.27, it is expected to continue the uptrend to the range of 145.31.

On the other hand, If the pair continues the downtrend to 142.65, it is expected to continue the downtrend to 142.07.      

GBPUSD

GBP/USD is consolidating losses above 1.2700 after the UK Retail Sales for May beat estimates with 0.3% MoM. The pair is on the back foot amid ongoing US Dollar recovery and broad risk aversion ahead of the UK and US Preliminary Manufacturing and Services PMI data.

If the pair continues the uptrend to the range of 1.2767, it is expected to continue the uptrend to the range of 1.2809.

On the other hand, if the pair continues the downtrend to 1.2665, it is expected to continue the downtrend to 1.2605.

AUDUSD

AUD/USD is falling toward 0.6700, changing course after the Australian S&P Global PMIs for June came in mixed data early Friday. The pair is losing ground, as the US Dollar is extending its recovery amid intensifying risk-off flows on global economic concerns. Focus on US PMIs, Fedspeak.

If the pair continues the uptrend to the range of 0.6708, it is expected to continue the uptrend to the range of 0.6732.        

On the other hand, if the pair continues the downtrend to 0.6671, it is expected to continue the downtrend to 0.6604.

XAUUSD

Gold price remains on the way to posting the biggest weekly loss since late January as the US Dollar cheers the market’s risk-off mood, as well as the hawkish Federal Reserve (Fed) concerns. Central banks bolster recession woes and underpin US Dollar run-up, weighing on XAU/USD.

If the pair continues the uptrend to the range 1928.47, it is expected to continue the uptrend to the range of 1943.07.

On the other hand, if gold continues the downtrend to the range of 1905.87, it is expected to continue the downtrend to the range 1897.87.

EURUSD

EUR/USD is trading above 1.0700, as bulls keep the reins for the second consecutive day early Thursday. The major currency pair fails to justify looming economic fears and upbeat US Treasury bond yields amid a broadly weaker US Dollar. Final Eurozone Q1 GDP eyed.

 If the pair continues the uptrend to the range of 1.0774, it is expected to continue the uptrend to the range of 1.0807.

On the other hand, If the pair continues the downtrend to the range of 1.0665, it is expected to continue the downtrend to the range of 1.0632.

USDJPY

The USD/JPY pair struggles to capitalize on the overnight goodish rebound from the 139.00 mark, or the weekly low and meets with some supply during the Asian session on Thursday. Spot prices currently trade around the 139.85 area, down nearly 0.20% for the day.

if the pair continues the uptrend to the range of 140.61, it is expected to continue the uptrend to the range of 141.04.

On the other hand, If the pair continues the downtrend to 139.39, it is expected to continue the downtrend to 138.60.      

GBPUSD

GBP/USD buyers occupy driver’s seat around 1.2450, despite marking a slow run towards the north heading into Thursday’s London open. The Cable pair buyers cheer the receding odds of a Fed rate hike in June while early signals for the Bank of England’s (BoE) interest rate guide appear mixed.

If the pair continues the uptrend to the range of 1.2494, it is expected to continue the uptrend to the range of 1.2549.

On the other hand, if the pair continues the downtrend to 1.2389, it is expected to continue the downtrend to 1.2339.

AUDUSD

The AUD/USD pair has displayed a less-confident recovery to near 0.6620 in the early European session after a vertical sell-off from 0.6717. The Aussie asset seems prone to more losses as gains propelled by a surprise interest rate hike by the Reserve Bank of Australia (RBA) have started waning.

If the pair continues the uptrend to the range of 0.6699, it is expected to continue the uptrend to the range of 0.6746.        

On the other hand, if the pair continues the downtrend to 0.6624, it is expected to continue the downtrend to 0.6596.

XAUUSD

Gold seesaws around intraday high as it prints mild gains after falling the most in a week the previous day. Even so, the XAU/USD remains indecisive on a weekly basis as the markets struggle for clear directions amid the pre-Fed blackout and mixed feelings about global growth concerns.

If the pair continues the uptrend to the range 1960.15, it is expected to continue the uptrend to the range of 1980.36.

On the other hand, if gold continues the downtrend to the range of 1929.82, it is expected to continue the downtrend to the range 1919.70.

EURUSD

The EUR/USD pair has witnessed some selling interest after facing stiff barricades around 1.0700 in the early European session. The major currency pair is consistently defending the crucial support of 1.0670, therefore, a breakdown of the same would result in wider bearish ticks.

 If the pair continues the uptrend to the range of 1.0728, it is expected to continue the uptrend to the range of 1.0764.

On the other hand, If the pair continues the downtrend to the range of 1.0632, it is expected to continue the downtrend to the range of 1.0596.

USDJPY

USD/JPY is trading with mild losses below 139.50 in Wednesday’s early European hours. The pair is undermined by the ongoing sell-off in the US Treasury bond yields, which is dragging the US Dollar lower. Focus shifts to Japanese Q1 GDP data, in the absence of top-tier US economic data.

if the pair continues the uptrend to the range of 140.05, it is expected to continue the uptrend to the range of 140.46.

On the other hand, If the pair continues the downtrend to 138.68, it is expected to continue the downtrend to 138.27.      

GBPUSD

GBP/USD remains pressured for the fourth consecutive day, fades bounces off intraday low. Fears of British economic woes, sluggish markets allow Cable bears to keep the reins. Political news, Fed vs. BoE chatters will direct Pound Sterling traders.

If the pair continues the uptrend to the range of 1.2458, it is expected to continue the uptrend to the range of 1.2492.

On the other hand, if the pair continues the downtrend to 1.2358, it is expected to continue the downtrend to 1.2324.

AUDUSD

The AUD/USD pair enters a bullish consolidation phase on Wednesday and oscillates in a narrow trading band just below over a three-week high touched during the Asian session. Weaker-than-expected economic data from Australia and China turns out to be a key factor acting as a headwind for the major.

If the pair continues the uptrend to the range of 0.6701, it is expected to continue the uptrend to the range of 0.6731.        

On the other hand, if the pair continues the downtrend to 0.6656, it is expected to continue the downtrend to 0.6626.

XAUUSD

Gold price lacks clear directions even as bulls have an upper hand for the second consecutive week. In doing so, the precious metal depicts the sluggish markets amid an absence of the Federal Reserve (Fed) talks and a lack of major data on the calendar.

If the pair continues the uptrend to the range 1968.54, it is expected to continue the uptrend to the range of 1980.54.

On the other hand, if gold continues the downtrend to the range of 1949.49, it is expected to continue the downtrend to the range 1944.54.

EURUSD

EUR/USD is posting small gains above 1.0700, finding support from a broad US Dollar weakness and hawkish ECB expectations ahead of the mid-tier EU data this Tuesday. Cautious market mood and disappointing German Factory Orders limit the upside in the major.

 If the pair continues the uptrend to the range of 1.0750, it is expected to continue the uptrend to the range of 1.0778.

On the other hand, If the pair continues the downtrend to the range of 1.0684, it is expected to continue the downtrend to the range of 1.0656.

USDJPY

USD/JPY holds a lower ground near the intraday bottom surrounding 139.35 heading into Tuesday’s European session. In doing so, the Japan Yen (JPY) pair defends the previous day’s bearish bias with a one-week-old ascending triangle formation.

if the pair continues the uptrend to the range of 140.27, it is expected to continue the uptrend to the range of 140.96.

On the other hand, If the pair continues the downtrend to 138.56, it is expected to continue the downtrend to 137.87.      

GBPUSD

GBP/USD is trading close to 1.2450, defending minor bids in early Europe. Amidst poor US economic data and increased Fed pause bets, the US Dollar takes the back seat, despite a cautious risk tone so far this Tuesday.

If the pair continues the uptrend to the range of 1.2472, it is expected to continue the uptrend to the range of 1.2510.

On the other hand, if the pair continues the downtrend to 1.2382, it is expected to continue the downtrend to 1.2330.

AUDUSD

AUD/USD gains near 50 basis points (bps) on the Reserve Bank of Australia’s (RBA) second surprise rate hike during early Tuesday. That said, the Aussie pair initially jumped to 0.6673 on the RBA’s verdict before retreating to 0.6668 by the press time.

If the pair continues the uptrend to the range of 0.6670, it is expected to continue the uptrend to the range of 0.6703.        

On the other hand, if the pair continues the downtrend to 0.6611, it is expected to continue the downtrend to 0.6585.

XAUUSD

Gold price is auctioning inside the woods around $1,960.00 in the early London session. The precious metal is displaying back-and-forth action as the investing community is divided about the interest rate decision by the Fed to be taken in June’s monetary policy meeting.

If the pair continues the uptrend to the range 1971.20, it is expected to continue the uptrend to the range of 1980.60.

On the other hand, if gold continues the downtrend to the range of 1945.28, it is expected to continue the downtrend to the range 1928.76.

EURUSD

EUR/USD is trading modestly flat just below 1.0700, extending its sideways movement in Asia this Thursday. The US debt deal wins the House passage. Traders refrain from placing fresh bets on the pair ahead of the EU inflation data and the US jobs data.

 If the pair continues the uptrend to the range of 1.0739, it is expected to continue the uptrend to the range of 1.0789.

On the other hand, If the pair continues the downtrend to the range of 1.0637, it is expected to continue the downtrend to the range of 1.0585.

USDJPY

USD/JPY picks up bids to refresh its intraday high near 139.50 as it prints the first daily gains in four during early Thursday. In doing so, the Yen pair recovers from the bottom line of a short-term bull flag formation. The RSI (14) line’s rebound from the below-50 region seems to underpin the USD/JPY pair’s latest recovery moves within the flag.

if the pair continues the uptrend to the range of 140.80, it is expected to continue the uptrend to the range of 141.21.

On the other hand, If the pair continues the downtrend to 138.93, it is expected to continue the downtrend to 138.52        .

GBPUSD

GBP/USD grinds near weekly high as bulls and bears jostle ahead of the key data/events scheduled for publishing on Thursday. The Cable pair makes rounds to 1.2450 during early Thursday morning in Europe amid the latest retreat in the US Dollar, mainly due to the cautious optimism and receding hawkish Fed bias.

If the pair continues the uptrend to the range of 1.2474, it is expected to continue the uptrend to the range of 1.2507.

On the other hand, if the pair continues the downtrend to 1.2378, it is expected to continue the downtrend to 1.2315.

AUDUSD

AUD/USD prints the first daily gains in three around 0.6520 as cautious optimism in the market joins the mixed concerns about Federal Reserve (Fed) to recall buyers early Thursday. However, the looming employment clues from the US and impending voting on the US debt-ceiling bill in the Senate check the risk-barometer buyers.

If the pair continues the uptrend to the range of 0.6536, it is expected to continue the uptrend to the range of 0.6568.        

On the other hand, if the pair continues the downtrend to 0.6465, it is expected to continue the downtrend to 0.6426.

XAUUSD

Gold is demonstrating topsy-turvy moves in a $1,962-1,967 range in the Asian session. The precious metal has turned sideways as investors are awaiting the release of the US Employment data to gain serious guidance about June’s interest rate policy of the Fed.

If the pair continues the uptrend to the range 1973.75, it is expected to continue the uptrend to the range of 1984.85.

On the other hand, if gold continues the downtrend to the range of 1952.64, it is expected to continue the downtrend to the range 1942.63.

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