fbpx

Daily Technical analysis for June 10, 2021

EUR/USD

Current level – 1.2166

The currency pair failed to stay above the resistance at 1.2207, ending the upward movement of 1.2100. The euro is projected to continue to lose value in favor of the dollar as, in the first hours of today’s trading session, the pair breached the support at 1.2170. The next important support is found at 1.2106, and the critical resistance is the mentioned level of 1.2207. Today, investors’ attention will be focused on the European Central Bank interest rate decision (11:45 GMT), as well as on the data for the core CPI for the United States (12:30 GMT).

USD/JPY

Current level –  109.53

The dollar recovered against the yen in the last few trading sessions and, although today’s session started with a decline, the forecasts are for the upward trend to continue and for the pair to test the important resistance at 110.18. The first important support is located at 109.06.

GBP/USD

Current level – 1.4111

The currency pair continues to trade in the narrow range between 1.4101 and 1.4209, but the forecasts are for a breach of the lower limit of this range and a subsequent decline. This lower limit at 1.4101 is acting as a critical support. In the upward direction, the first resistance is the level of 1.4177, followed by the upper limit of the range at 1.4209.

Gold price declines calmly

Gold price shows slight bearish bias to move below the EMA50, noticing that stochastic attempts to gain the positive momentum, waiting to get motive that assist to push the price to resume the main bullish trend, which targets 1928.60 as a next main station.

In general, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above the bullish channel’s support line, which rise now to 1872.50, as breaking this level will press on the price to start correctional bearish wave on the intraday basis.

The expected trading range for today is between 1875.00 support and 1910.00 resistance.

The expected trend for today: Bullish

Source: Technical analysis

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

Privacy Preference Center

Necessary

Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookie

Advertising

Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

Analytics

Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.

Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.

Other

Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.

Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.

User Agreement

Day Finance is an educational site and a platform for exchanging Forex information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense.
Terms And Conditions