The US Dollar is strengthening against most major currencies due to strong economic data. Several currencies are expected to see limited movement or potential reversals in the coming days. Gold and Oil remain under downward pressure.
Euro (EUR/USD):
- Bearish outlook in the short-term with potential downside to 1.0681.
- The euro has reached oversold levels, showing signs of exhaustion.
- Resistance: 1.0798, 1.0815
- Support: 1.0685, 1.0593
- Buy signal above 1.0742, with targets at 1.0760, 1.0785, and 1.0815.
- Sell signal below 1.0730, with targets at 1.0685.
British Pound (GBP/USD):
- Bearish outlook in the short-term with potential downside to 1.2647.
- UK job growth is expected to shrink, putting downward pressure on the pound.
- Resistance: 1.0798, 1.0815
- Support: 1.0685, 1.0593
- Buy signal above 1.2711, with targets at 1.2761.
- Sell signal below 1.2687, with targets at 1.2647.
Japanese Yen (USD/JPY):
- Bullish outlook in the short-term with potential upside to 157.55.
- Japan’s GDP data came in weaker than expected.
- The Bank of Japan is not expected to raise interest rates on June 14th.
- Resistance: 158.28, 157.52
- Support: 155.57, 156.33
- Buy signal around 157.05, with targets at 157.55.
- Sell signal below 156.71, with targets at 1.2630.
Australian Dollar (AUD/USD):
- Downward correction within a dominant upward trend.
- Resistance: 0.6760, 0.6710
- Support: 0.6520, 0.6570
- Buy Signal: Reversal signals after price reaches support zone
- Sell Signal: Potential exhausted
New Zealand Dollar (NZD/USD):
- Downward price movement expected to end in the coming week, with a potential reversal to the upside.
- Resistance: 0.6290, 0.6240
- Support: 0.6090, 0.6040
- Buying opportunities after corresponding reversal signals appear in the support zone (0.6090/0.6040).
- Sell Signal: Risky and unprofitable
Canadian Dollar (CAD/USD):
- Bearish outlook in the medium-term with potential downside to 1.3600.
- The Canadian dollar weakened after strong US jobs data.
- Resistance: 1.3837, 1.3801
- Support: 1.3696, 1.3732
- No buying signals identified for the next week.
- Selling opportunities may arise after corresponding signals appear on the chart.
Swiss Franc (USD/CHF):
- Upward retracement expected in the coming days, followed by a resumption of price decline.
- Resistance: 0.9070, 0.9020
- Support: 0.8790, 0.8740
- Buy Signal: Low potential, reduce lot size
- Sell Signal: Reversal signals near resistance zone
Gold (XAU/USD):
- Mixed outlook with potential for a fall towards 2,270 or a rebound to 2,337.
- Resistance: 2,337, 2,313
- Support: 2,285, 2,270
- Sell below $2,312, with targets at 2,285 and 2,270.
- Buy Signal: Reversal signals after price reaches support zone
Crude Oil:
- Bearish outlook in the short-term with potential downside to 75.20 or 73.61
- Support level: 75.20
- Resistance level: 76.24
- No Buy Signal
- Sell Signal: Confirmation needed, wait for price movement below 76.24
Categories: Market News