DAILY TECHNICAL ANALYSIS FOR JUNE 30, 2022petar skakalov
Current level – 1.0442
The common European currency lost quite a bit of ground against the dollar and the pair breached the zone at 1.0467. At the time of writing the analysis, the pair is trading just below the level at 1.0467. If the bearish attack continues, then a test of the major support at 1.0396 would be the most probable scenario. A violation of the mentioned level would easily deepen the sell-off towards the low at 1.0359 and would strengthen the negative expectations for the future path of the EUR/USD. If the bulls enter the market, then their first target would be the level at 1.0467, which is currently acting as resistance. Today, increased volatility can be expected around the announcement of the initial jobless claims data for the United States at 12:30 GMT.
Current level – 136.55
The positive sentiment remained unchanged and the Ninja tested the resistance at 136.47. A successful confirmation of the breach here would easily lead to new gains for the dollar against the yen and could continue the rally towards the zone at 137.00. If the bullish momentum fades, then the bears could try to breach the support at 135.43. А success for them could deepen the decline and could pave the way for a test of the lower zone at 134.33.
Current level – 1.2118
Like all the other major currencies, the sterling lost some ground against the dollar and the pair breached the support zone at 1.2170. It is currently holding positions around the level at 1.2118, but if the sell-off continues, the expectations are for a test of the next target at 1.2038. A successful violation could easily deepen the decline and could strengthen the negative expectations for the future path of the Cable. If the buyers prevail instead, then their first target would be the zone at 1.2170, followed by the upper important resistance at 1.2321.
Gold price reaches the first target
Gold price reached few pips away from our first waited target at 1810.00, showing tight trades, settling below the EMA50 that forms negative pressure against the price, waiting to resume the bearish bias that its next target located at 1780.25.
Therefore, the bearish trend scenario will remain valid and active unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1795.00 support and 1835.00 resistance.
The expected trend for today: Bearish
Source: Technical analysis