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10Jun

DAILY TECHNICAL ANALYSIS FOR JUNE 10, 2022

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EUR/USD

The EURUSD breaks the support

The EURUSD pair managed to break 1.0670 level and close the daily candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, paving the way to achieve our extended negative targets that start at 1.0600 followed by 1.0550.

The EMA50 forms negative pressure to support the expected decline, which will remain valid unless breaching 1.0670 and holding above it.

The expected trading range for today is between 1.0540 support and 1.0690 resistance.

The expected trend for today: Bearish

USD/JPY

The USDJPY keeps its positive stability 

The USDJPY pair faced temporary negative pressure yesterday but it rose again to settle above 134.00 barrier, to keep the bullish trend scenario active for the upcoming period, organized inside the bullish channel that appears on the chart, waiting to visit 135.00 followed by 135.50 levels as next main stations.

The EMA50 provides continuous positive support to the expected positive scenario, which will remain valid conditioned by the price stability above 133.60.

The expected trading range for today is between 133.60 support and 134.80 resistance

The expected trend for today: Bullish

GBP/USD

The GBPUSD crawls downwards

The GBPUSD pair shows calm negative trades to fluctuate around 1.2490, waiting for more decline to achieve our main expected target at 1.2425, reminding you that breaking this level will extend the bearish wave to reach 1.2300 as a next station.

In general, the bearish trend scenario will remain active conditioned by the price stability below 1.2590.

The expected trading range for today is between 1.2400 support and 1.2560 resistance.

The expected trend for today: Bearish

Gold price under the negative pressure 

Gold price faced negative pressure yesterday to break 1850.00 level and approach 1838.10 level, to hint potential turn to the trend to the downside, which will be confirmed in case the price continued the decline to break the last level.

We prefer to stay aside temporarily until we get clearer signal for the next trend through breaking 1838.10 support or breaching 1850.00 resistance, noting that breaking the mentioned support will confirm the turn to decline and head to achieve negative targets that start at 1810.00 and extend to 1780.25, while breaching the resistance will lead the price to resume the bullish wave that its next main target located at 1890.00.

The expected trading range for today is between 1825.00 support and 1865.00 resistance.

The expected trend for today: Neutral

Source: Technical analysis

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