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Daily Technical analysis for June 28, 2021

EUR/USD

Current level – 1.1922

The currency pair failed to stay above the resistance at 1.1955 despite it being tested several times, which is a signal that the corrective movement from 1.1850 is over. The forecasts are for the downward movement to resume and for the pair to focus on a test of the local bottom at 1.1850, which is a level of key support. This week, investors’ attention will be focused on the data on the ADP non-farm employment change for the U.S. (Wednesday; 12:15 GMT), as well as on the data on the non-farm payrolls change, again for the U.S. (Friday; 12:30 GMT).

USD/JPY

Current level –  110.68


After reaching the resistance at 111.01 and forming a double top at these levels, the currency pair entered a corrective phase during the last trading session of the past week. This corrective move is projected to continue, but is likely to be limited to the support at 110.11, after which the dollar should begin to rise again against the yen.

GBP/USD

Current level – 1.3881

The past trading week started with a downward correction of the sell-off from 1.4130, after which the sterling started to depreciate against the dollar again and erased much of the correction in question, thus signalling its end. The pound is forecasted to continue to lose value against the dollar and the pair is to focus on a test of the first important support of 1.3801. In the upward direction, the first important resistance is the level of 1.3979.

Gold price resumes the decline

Gold price opened today with additional negativity to reach 1770.00, waiting to get negative motive that assist to break this level and open the way to continue the bearish trend towards our next target that reaches 1734.10.

The EMA50 forms continuous negative pressure against the price, to support the expectations of continuing the bearish trend, reminding you that holding below 1800.00 is important to achieve the waited targets.

The expected trading range for today is between 1755.00 support and 1795.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

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