Main Quotes Calendar Forum
flag

FX.co ★ Technical analysis and recommendations on EUR/USD and GBP/USD on June 15

parent
Forex Analysis:::2021-06-15T11:36:33

Technical analysis and recommendations on EUR/USD and GBP/USD on June 15

EUR/USD

Technical analysis and recommendations on EUR/USD and GBP/USD on June 15

The meeting with the weekly supports joined at 1.2103 (weekly Fibo Kijun + weekly short-term trend) led to the development of slow down. A breakout of this zone will allow us to consider new downward prospects. In this case, the nearest and significant pivot point will be the daily cloud, whose upper border is now strengthened by the weekly medium-term trend (1.2027). The center of attraction in the current conditions continues to be the daily Ichimoku cross (1.2184 - 1.2160 - 1.2133) and the historical level (1.2150).

Technical analysis and recommendations on EUR/USD and GBP/USD on June 15

The daily deceleration led to the development of the upward correction on the hourly chart. The bulls have caught the central pivot level (1.2115) and are rising now to test the weekly long-term trend (1.2154). A consolidation above the moving average and its reversal will change the current balance of forces in the smaller intervals, which will confirm the formation of a rebound in the bigger ones.

The further development of the situation will completely depend on the breakdown of the attraction and influence zone 1.2184 - 1.2160 - 1.2133, which determines the persistence of consolidation and uncertainty in the higher time frames.

GBP/USD

Technical analysis and recommendations on EUR/USD and GBP/USD on June 15

The historical support of 1.4090, reinforced by the final level of the daily Ichimoku golden cross, provoked the development of deceleration again. The pound remains in the zone of the previously formed consolidation. It is still possible to note the influence of the levels of the Ichimoku daily cross (1.4127-35-55) in its center, led by the daily short-term trend. The breakdown of the current support levels will open up opportunities to continue the decline. The next pivot point is found in the area of 1.4008-22 (weekly short-term trend + historical level).

Technical analysis and recommendations on EUR/USD and GBP/USD on June 15

The bears retained the main advantage in the smaller time frames since they took control of the weekly long-term trend. The breakdown of the level of 1.4131 (weekly long-term trend) and consolidation above will change the current balance of power. In this case, the resistance of 1.4154 (R2) and 1.4184 (R3) will become the intraday upward targets. On the contrary, the update the low (1.4069) will allow us to consider new pivot points to strengthen the bearish mood. The intraday supports are set at 1.4046 (S2) and 1.4022 (S3).

***

Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...