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GBP/USD Technical Analysis: May 30, 2017

The British currency was able to gain strength amid Monday session after the stabilization in past few weeks. While the selloff was severe, nonetheless, were able to reach the region 1.2750 below. The mentioned level deemed as massive resistance previously based on the long-term chart.

As the sterling could maintain its overall stability, the market could possibly edged upwards. Upon breaking down the 1.2750 handle, buying in the dips appeared to offer a bigger and longer term buying opportunity. The selloff was drastic because of the political polls which is always wrong throughout the year. The market has to sustain its volatility, however, it will highly prefer the upside.

In the long-term, the GBPUSD will be bullish but there is a likelihood that the market has plenty of noise to deal with.

A break on top of the 1.29 handle will trigger the market to initiate a bullish pressure as it was able to lure the attention of some traders.

Meanwhile, buying the dips is possible and could be better if done in a short-term outlook, at the same time, employing small time frames and positions to complete this bias.

A cut through beneath the mark 1.2750 will break down which definitely change the general perspective.

AUD/USD Technical Analysis: May 30, 2017

The Australian dollar against the U.S. dollar broker lower amid a choppy conditioned during the Monday session. It fluctuated back then and bounced off as it found the 0.7450 level resistive. Then, it declined towards the 0.7425 region and bounced again. For the past trading session, the market is moving in a downward direction and it wont take long before the pair breaks below the 0.70 region in the lower channel. If the pair breaks higher than the 0.7450 level, the market will head towards the 0.75 handle.

Also, the gold market has a direct impact to the pair which will be influenced by the movement of the commodity market most especially, since there are several factors that could trigger a move in the gold market.

A surge in the gold market surged based on the appetite risk will be beneficial for the currency. However, if a safety trade is the driver of the surge in the gold market such as the increased concern regarding North Korea inducing fear in the International market and people may go to the Aussie since it is a risky currency.

The surge in gold is most likely because of the search for safe-haven asset instead of economic growth purposes. This puts the Australian dollar in a difficult situation although it wont take that long for another breakdown as said before.

When it breaks down, the price trend could further go down although there will be choppiness with it as how it is for this pair for a while. Overall, the greenback is moving in a better side compared to the Aussie betting forward in short-term.

USD/CAD Technical Analysis: May 30, 2017

The USD/CAD appeared to be negative throughout Monday session, however, it starts to search for another leg close to 1.3425 handle.

The market is in the downtrend at some point, which is highly influenced by the oil markets.

The trading yesterday was very thin as the oil sector surge which established a bearish pressure towards the USDCAD. It will be a challenge when the full volume returned to the marketplace which could absolutely persuade the market eventually.

Ability to break on top of 1.35 handle requires the market to continue moving higher. Otherwise, a renewed lows would significantly cause a breakdown and maybe, it could touch 1.33 handle. However, the route could be really choppy which obliged the participants to be cautious.

Previously, a downtrend is prominent despite the noise around the crude oil markets, this could lead to a sudden shift.

In case that the oil industry breaks on top of $50.50 level based on the WTI grade, the market will initiate a significant collapse. Contrarily, a cut through beneath $50 level could possibly prompt the pair to rally towards the upside giving an opportunity to resume a longer-term uptrend which is common and important in the past few weeks.

The next moves are highly anticipated and there are predictions that it could be best to take a pause on the sidelines, waiting for a correlating move from both markets prior investing a large amount to work.

GBP/USD Technical Analysis: May 31, 2017

The British currency had broken out in the upside amid Tuesdays session following an initial move lower. A break above pushes through a higher high with the possibility that the market will trail near 1.29 handle. The mentioned level certainly holds an amount of psychological significance and a cut through on top of its would generate a bullish signal.

The region below 1.2750 had a significant floor which appeared to be a massive resistance previously. With this, the buyers would likely return each time a dip was made and the pound has been further oversold because of the vote casting.

While the conservatives have greater chance to win again over the election, hence, risks should peter out taking into account to where the United Kingdom will go next.

Moreover, it still an advantage to buy dips within this market. It could touch the region 1.3050 again while offering good trading opportunities for longer-term position in the past sessions. An ability to break on top of that area would mean the market will move ahead near 1.3450 mark. It should be given enough time to reset the level and there is a tendency that market players will look this pull back as valuable and beneficial.

GBP/USD Fundamental Analysis: May 31, 2017

The GBP/USD pair exhibited a very intermittent price action during the previous session as it was extremely volatile during the previous 24 hours. The cable pair further surged in value during the European session and the first few hours of the NY session as the market volatility returned to its normal levels following a low liquidity volume last Monday. The US PCE data which was released yesterday also came out to be somewhat disappointing for the market as the data showed a lack of bite in US inflation rates, causing the greenback to drop in value and enabled the GBP/USD pair to advance towards 1.2880 points.

The June snap elections in the UK is recently serving as a determinant for the price action of the cable pair, and since there have been a lot of discussions going on including the possibility of the UKs ruling party losing the snap elections, the GBP/USD pair did not take this particular piece of news lightly and fell below 1.2800 points almost immediately after the said update. Theresa May had initially called for the snap elections as a means for her to establish herself further while creating a more solid majority for herself, and such, anything less than a landslide victory for may would cause a massive pound selloff as the market becomes jittery just before the elections commence.

For todays session, there are no major releases from the UK economy, although a lot of month-end flows are expected within the day which are all expected to put downward pressure on the cable pair.

GBP/JPY Technical Analysis: May 31, 2017

The national currency of Britain weakened amid Tuesday trading, however, it had a significant rebound from the area 141.80 reaching the 143 handle. A break over the daily highs would direct the market in a higher position, as it may reach 144 level without plenty of issues.

Generally, the Sterling holds a significant amount of reversal throughout the day since the Cable further exhibited active signs. This could probably be a correction for the oversold condition where the GBP sees itself, after the election polling it became tighter exceeding its expectations in the past. Moreover, the figures decreased inclined with the conservative administration. Having said that, the uptrend will resume eventually, hence buying is highly preferred on the gap above the highest.

Remember that the pairs relative to Japanese yen appeared to very sensitive to risk. This could be considered as one of the most delicate pairs, the simultaneous rally of the stock market is a big help that could move 100 pips in an instant.

Either way, a cut through underneath 142.50 region would allow the market to touch 142 handle once again.

The daily candle begins to display a bullish stance which signals that buyers will return, nevertheless, it could be best that youll wait for the market to reveal hints to initiate the buying, as a means to safeguard your account against an extensive volatility.

EUR/USD Fundamental Analysis: June 1, 2017

The EUR/USD pair looks poised to make another attempt at reaching its current range highs as the currency pair was able to take advantage of a correction in the greenback. This upward pressure in the currency pair is expected to last well into the first few days of June, particularly the 2 most essential trading days for this month.

The dollar experienced corrections on the back of a couple of disappointing data from the US economy. The first one was the Chicago PMI data, which failed to meet its expected economic reading and the pending home sales data, which also disappointed the entirety of the market yesterday. This triggered a large-scale dollar selloff against other major currencies and has enabled the EUR/USD pair to advance towards 1.1200 and was even able to reach 1.1250 points throughout the course of the NY session. Since the Fed had previously clarified that the implementation of the June rate hike will be wholly dependent on the results of the incoming economic readings from the US, the market has become very sensitive to readings coming from the US economy, with even minor readings inducing major volatility levels on the market especially if these comes out as very disappointing for investors. Eventually, the PMI data was revised to a much higher reading and this helped to cushion the blow of the fall of the USD, although this has left an impression on the market with regards to the adverse effects of a negative reading to the value of the US dollar. Meanwhile, the USD continues to be in peril in spite of its drop in value being temporarily stalled.

For todays trading session, there are no major news releases coming from the EU economy while the US will be releasing its unemployment claims data and its ADP Non-Farm Employment change data during the NY session, which is a precedent to the release of the NFP report on Friday. This particular bit of news is then expected to induce major volatility levels and a move of the currency pair below 1.1200 points should be a signal for the pairs bulls to rethink their positions.

EUR/USD Technical Analysis: June 1, 2017

The EURUSD accelerated on Wednesday amid lower than expected inflation statistics released by the European Union. Meanwhile, France also reported disappointing figures upon issuing HICP data, this was announced along with the soft German data on Tuesday.

The retail sales of Germany declined and yet the employment gained much strength beating expectations. The European Central Bank mandates a single monetary policy fixates on inflation which compels ECB President, Mario Draghi to conduct an effective argument in order to keep the banks dovish view of forward guidance.

The pair continues to create a bull flag formation which is designed as a continuation pattern that takes a pause to refresh. This is a breakout pattern that resembles a cup and saucer and we could get the picture when prices entered the previous week highs found at 1.126 region.

The next target for the resistance level is close to November 8 highs touching 1.1299 mark. While the support approach the 10-day moving average took the 1.1189 range.

Momentum appeared neutral since the MACD histogram prints around the zero-index level with a flat trajectory which further indicates for a consolidation.

The RSI (relative strength index) crept upwards along the with price trend suggesting an ascending positive momentum.

USD/CAD Fundamental Analysis: June 1, 2017

The USD/CAD pair was able to advance further towards its range highs during the previous session in spite of the greenback suffering blows against other major currency pairs due to a series of disappointing economic data from the US economy. The loonie is now trading at just above 1.3500 points which is considered to be a very essential trading region for the currency pair. However, the market has yet to see whether the USD/CAD pair will indeed manage to go even higher and reclaim its bullish price action or if it will correct and return to its previous trading range.

This surge in the value of the USD/CAD pair has been mostly attributed to a string of weak economic data from Canada. As the Canadian GDP was released during yesterdays session, the annual and quarterly readings for 2016 disappointed the market in spite of a very positive monthly reading. This was far worse than what the market had initially anticipated and has caused the loonie to correct and the USD/CAD pair to increase further in value. Oil prices also dropped while the Canadian inventory data showed a solid draw in addition to an added increase of Libyan production data. This caused both the Canadian dollar and oil prices to drop and was more than enough for the currency pairs bulls to help prop up the value of the USD/CAD pair past 1.3500 points where it is currently sitting as of the moment.

For todays session, the market is expecting the release of unemployment claims data and the ADP employment report from the US economy, both of which are of utmost importance since this serves as a precursor to the incoming NFP report due tomorrow. The oil inventory data is set to be released today, and this, together with the NFP report will most likely determine the short-term price action of the USD/CAD pair.

NZD/USD Technical Analysis: June 1, 2017

The Kiwi dollar calmly traded during the session on Wednesday as the 24-hour exponential moving average continued receiving some type of support. Meanwhile, the 0.71 region still offers some psychological resistance, however, a break over the area is expected very soon. The pullbacks provide a buying opportunity since all moving averages are bullish and the level below 0.70 lured the attention of market players as it appeared to be large, round and an important psychological number. With this, the pullback seems valuable not until a breakdown under 0.70 occurred. And the market could probably be sold because the NZD beat a relative currency, the Australian dollar. The noise was prevalent as the chart shows that we are in an uptrend.

Moreover, the market would probably chop with a mild bias going upwards and at the same time, there is a possibility for a long, slow grind higher to take place.

As the New Zealand currency strengthened against its cousin, AUD, you may opt to buy this along with an Asian currency except that you refers to the selloff in JPY pair.

GBP/JPY Technical Analysis: June 5, 2017

The British pound against the Japanese yen declined during the Friday session following a surge in the start changing the risk on attitude in a rapid pace. Moreover, the U.S. jobs data worsen the situation which is less than expected. There is also a lot of risk appetite from the market which is contradictorily beneficial for the pair.

From the current psychological levels, it seems that the market will rally from here on directed towards the 143 handle. The 142 level below gives significant support and if the market is able to sustain this, there is a higher chance for a rebound.

However, if the price breaks lower than the 142 level instead, the next move will most likely go down towards the 141 handle. Nevertheless, there is a high chance for volatility and choppiness which is already expected for this pair especially since it is risk sensitive.

Buying in the lows is advantageous for the market that makes it easier to trade this pair. However, it seems that this is fitting for buyers to get involved. Consequently, the market will go down towards the 143 handle and down to 144 handle.

For long-term, this pair will tend to move higher but the current risk appetite is uncertain but the stock market is reliable that could reverse trades lower in the day on Friday. This makes selling less appealing in the current condition.

USD/CAD Technical Analysis: June 5, 2017

The U.S. dollar attempted to surge in the beginning of Friday session. Soon after, this was reversed due to soft results of jobs data. The pair broke lower than the 1.35 handle signaling the downtrend of the pair. On the other hand, the long-term trend moves in an upward direction.

There is massive support found in the 1.3250 region. More buyers will come in the market if given enough time but for now, sellers are dominating the market for short-term.

The oil market also has a high impact in the market but as it is directed downward, this could push the price to move up. Also, higher volatility on Friday brought in gains for traders that could result to oversupply later on when the traders realized the current situation of the market.

Choppiness is anticipated in the market with some problems from time to time. Other than the oil market that had a high impact to this pair, the current job condition is the primary focus of the market more than other issues. Although this is just for short-term, traders could opt to go long on this pair.

A significant support is found close to the 1.3450 region while it is found at 1.3250 on the long-term charts. A bounce back from here or a move higher than the 1.35 handle hints a move to the upside. Some traders would sell this market but they should still remain vigilant in doing so.

GBP/USD Technical Analysis: June 5, 2017

The GBPUSD declined on Friday and face through some volatility as the U.S. employment figures released with a lower than anticipated results.

The market now appeared to hover below the 1.29 handle considered as a major level. The ability to break on top of the said region would lead the market towards 1.3050 area which provided a significant resistance.

Buying on the dips remain to be the most suitable way in playing the market beneath 1.2850 that has been offering an amount of support. Meanwhile, a break over 1.29 range would trigger a continuous higher movement. In the long term, buyers will still get involved and show further strength sooner or later.

Headline risk could still remain since concerns regarding British exit keep forging ahead. This might influence the sterling in any moment. Ultimately, the pair can find a bottom upon staying beyond the level 1.2750.

Moreover, the built-in bid resumes in regards to the GBP. An attempt to move ahead the 1.3450 handle should be done. However, lots of issues and concerns surrounds the British economy, therefore it may take some time to reach the target. Selling is ruled out except when we cut through down the 1.2750 area.

GBP/USD Fundamental Analysis: June 5, 2017

The GBP/USD pair exhibited a very weak trading action earlier this morning although this was kind of expected due to yesterdays terror attacks in London. This recent slew of attacks within the region has increased the risks surrounding Britain and now that the snap elections are set to begin within a matter of days, the cable pair is expected to continue receiving pressure throughout the duration of todays session as well as in the coming days leading up to the day of the UK snap elections.

The GBP/USD pair has been very weak during the past weeks as Theresa May had a hard time making sure that the results of the snap elections would come out in favor of her political inclinations. May had initially sparked the election in the hopes of getting a much better majority, and this initially seemed like a good move considering that the opposition bloc back then was very spotty and in shambles. But within the course of two months, Mays lead has been steadily decreasing during the past weeks and the market is now speculating that the Parliament might be hung in no time at all. However, there is still a possibility that May might be able to win the elections after all and could even win a small majority, although this is not enough for May to be able to establish her position in the international scene, especially when the time comes for her to start with the Brexit negotiations. This could ultimately be very bad for both May and the UK economy and this is why the GBP/USD pair has been very weak as of late, with pair being unable to go beyond 1.2900 points in spite of a relatively weak US employment report.

For todays session, the UK economy will be releasing its services PMI data, but regardless of how this data comes out, the political events from the UK is expected to remain in the headlines, with the GBP/USD pair continuing to look very weak in the short-term period.

EUR/USD Fundamental Analysis: June 5, 2017

The EUR/USD pair underwent a very volatile trading action last week after it was able to stick to certain resistance and support levels, thereby making last week a relatively painless week as far as the currency pairs traders and investors are concerned. The buyers only had to choose the correct buys in order to gain profits as the EUR/USD pairs uptrend was pretty much evident since it was able to maintain its hold on to certain selling and buying points.

The first half of last weeks trading session was a rather lackluster time for the EUR/USD pair, with the dominant market trend being the performance of the dollar as the market anticipation for the month-end flows increased by the day, wherein the market was generally expecting an influx of US data such as the NFP report. This then caused the EUR/USD pair to drop in terms of its value but since the 1.1100 points contained a lot of buys, the pair has managed to revert strongly against any quick drops in its value. As the second half of last weeks session commenced, this was marked by a transition into a new month and was characterized by several economic reports such as the ADP employment report, which impressed the market by coming in at a strong reading of 153,000, thereby increasing the chances of a positive NFP report, which would ultimately increase the possibility of a Fed rate hike this month. But the NFP fell short of its market expectations as well as the wages report, and this was more than enough for the EUR/USD pair to surge by over 70 pips and closed down last weeks session at its range highs located at 1.1280 points. ]

For this weeks session, there are no major news coming from the EU except the ECB press conference scheduled on Thursday. The market is instead expected to shift its focus towards the UK elections as this will have a significant impact on the standing of the euro. If Theresa May manages to win over a strong majority vote, then the euro could possibly drop a few points, although the bullish undertone for the EUR/USD pair is expected to remain intact at least for a few more days.

GBP/JPY Technical Analysis: June 6, 2017


The British pound against the Japanese yen broke on the lower side during the Monday session which was upturned indicating bullishness in the trend. It is directed towards the 143 level and higher up that fills the gap. There is a robust resistance seen in the previous trades that makes the reversal unexpected. However, if the price is set higher, this would persist to an elevated level pointed to the 144 region.

It is anticipated to have volatility for this pair regardless of the next move since the market is in a risk on or risk off sentiment. Moreover, the British elections worsen the situation as it affected the British currency that brings unpredictability in the market until the election on Thursday. Other global economic concerns will also affect the trend.

Volatility is the current focal point of the market and if it gaps more than the 143 region, more buying opportunities will come out for the market. However, if the election polls showed conservatives leading in Britain, this push this pair aimed higher with chances to break higher than the 144 region then shift towards the 145 handle.

Traders should not expect that trading this pair would be easy that makes trades on small positions to be ideal for this pair or one could opt to wait in the sidelines as GBP/JPY is one of the pairs risky to position in the market.

GBP/USD Fundamental Analysis: June 7, 2017

The GBP/USD pair experienced a major correction during yesterdays session as its previous gains were due to a reaction on the most recent opinion polls, which outlined a clear victory for UK PM Theresa May. However, these opinion polls were quickly forgotten by the market as the market shifted its focus on more immediate geopolitical events which could have an influence on the cable pair.

The opinion polls, although somewhat positive at first, had no lasting effect on the price action of the sterling pound and as such, the GBP/USD pair corrected its gains and is now back at 1.2900 points in spite of the dollar weakness as the pound had to deal with some problems of its own. The GBP is now under heavy downward pressure as the snap elections are set to commence this coming Thursday and since the majority of opinion polls are still giving off an ambiguous stance, the market is in turn unsure of what steps it should take next and this has put additional pressure on the sterling pound. In addition, the dollar is also relatively weak as of late since it will be reacting to Comeys testimony set tomorrow, which falls on the same day as the snap elections. This is one of the reasons why traders refuse to make any clear moves on the GBP/USD pair and instead shift to a wait and watch mode until such time that all activity subsides and be safe enough for them to resume trading.

For todays session, the US economy will be releasing its oil inventory data while there are no major releases coming from the UK economy. The GBP/USD pair is then expected to range and consolidate throughout todays session as it preps for tomorrows polls.


GBP/USD Fundamental Analysis: June 7, 2017

The GBP/USD pair experienced a major correction during yesterdays session as its previous gains were due to a reaction on the most recent opinion polls, which outlined a clear victory for UK PM Theresa May. However, these opinion polls were quickly forgotten by the market as the market shifted its focus on more immediate geopolitical events which could have an influence on the cable pair.

The opinion polls, although somewhat positive at first, had no lasting effect on the price action of the sterling pound and as such, the GBP/USD pair corrected its gains and is now back at 1.2900 points in spite of the dollar weakness as the pound had to deal with some problems of its own. The GBP is now under heavy downward pressure as the snap elections are set to commence this coming Thursday and since the majority of opinion polls are still giving off an ambiguous stance, the market is in turn unsure of what steps it should take next and this has put additional pressure on the sterling pound. In addition, the dollar is also relatively weak as of late since it will be reacting to Comeys testimony set tomorrow, which falls on the same day as the snap elections. This is one of the reasons why traders refuse to make any clear moves on the GBP/USD pair and instead shift to a wait and watch mode until such time that all activity subsides and be safe enough for them to resume trading.

For todays session, the US economy will be releasing its oil inventory data while there are no major releases coming from the UK economy. The GBP/USD pair is then expected to range and consolidate throughout todays session as it preps for tomorrows polls.

NZD/USD Technical Analysis: June 7, 2017

The NZDUSD rallied amid trades on Tuesday and broke the level on top of 0.7150 smoothly. The Kiwi dollar continued to search for buyers on dips and tend to handle some pullback as an opportunity to increase rate.

The market tried to touch the region above 0.72, en route 0.75 afterwards. As shown in the chart, the area around 0.71 handle provides a lot of support and regarded to be the floor of the market in the near-term uptrend. The commodity space continues to weigh on the market and the NZD seems to be the barometer towards the overall sentiment of futures trading. Watch closely for the commodity because it could possibly show the way.

It could be a good move to buy dips moving forward because it suits the current status of the New Zealand currency. Selling remains impossible as far as we breach under the 0.71 mark. A successful break down prompts the market to reach the range below 0.7050 which is very supportive previously, along with the 0.70 region. In any case, the market remains to be volatile, however, the moving averages came in reliable, particularly the 48-hour MA shown in green color, hence it should offer further buying opportunities.

The volatility driven market persists, but the late impulsivity indicates that buyers begin to develop more confident as it moves ahead. Moreover, the dips will provide value which is an advantage to market participants.

EUR/USD Technical Analysis: June 7, 2017

The EURUSD aimed to make a rally during Tuesday session but look for a strong resistance around 1.1280 region to make a reversal. Then, rebounded through the 1.1240 mark.

Meanwhile, the market remains to be bullish and attempted to front run the monetary policy statement of the European Central Bank.

The ability to break out in the upside enable the market to move towards the area on top of 1.13. The 1.15 range is the top of the latest consolidation seen in the EUR/USD for the past years.

Moreover, the market might experience difficulty in breaking above the mentioned range, however, series of attempt were made to get through the area and identify its capacity to hold on.

Buying in the dips resumes progressing forward despite anticipated noise.

As the Britain will leave the European Union, there is a chance that some statements will weigh against Euros value. Either way, the interest rate hikes from the United States may catch more attention.

A breakout to the upside is possible while the 1.12 market must be the floor in this market.

USD/JPY Technical Analysis: June 7, 2017

The U.S. dollar was behind of the Japanese yen during the Tuesday session. The USD/JPY pair broke lower than the 110 region which makes weaker to further decline. On the other hand, the 110 mark is being resistive. A move lower towards the 108/ region is the next target because of 61.8% Fibonacci retracement level and a whole number that offers significant level.

In the current condition of the market, it is better to sell this pair, especially if the 110 level and below is sustained. Also, market should be careful of volatility with the presence of bearish pressure as the U.S. dollar depreciates

More traders could play on the safe side with the ongoing tension between Saudi Arabia and Qatar. There is a somehow a pressure underneath and entails a risk off in trading. A move higher than the 110.50 level would counter the negativity in the market that would push the trend to go higher.

Overall, traders should expect high volatility. It may be difficult to bring the price higher with the strong resistance level while the 108 region is a significant level that traders cannot ignore following a rollover during the Tuesday session. If the price breaks lower than 108 region, then this would propel the price downhill in the next trading sessions.

EUR/USD Fundamental Analysis: June 8, 2017

The EUR/USD pair exhibited a very intermittent trading action within a very limited range, and although the currency pair had a single clear move amidst the haze of its incessant ranging and consolidation, the market chose to interpret the currency pairs movement as very choppy ahead of Super Thursday. Although the EUR/USD pair did manage to move towards the bottom rungs of 1.2200 points, it was almost immediately met with large-scale buying, causing the pair to retreat towards over 1.1250 where it is currently located.

This downtrend in the EUR/USD pair was mostly due to reports that Draghi could possibly make amendments to the central banks inflation targets but was immediately reversed after another report came out which hinted at Draghi being very hawkish with regards to overall growth. These kinds of speculations are usually expected during a very big trading day like today, although the real deal is expected to happen during todays trading session. The UK snap elections is one of the highlights of todays session, and although the Conservatives seem to have the upper hand as of the moment, the essential factor here would be the margin of victory and this will have an effect on the value of the euro. Next up is the ECB rate announcement, wherein the central bank is expected to maintain its rates, which will be followed by the ECBs press conference where the market will be closely monitoring whether Draghis statement will be hawkish or otherwise. James Comeys testimony is also another thing to watch today as this will reveal whether Trump had any involvement with the Russian probe which could cause a drop in the USD. The 1.1300 point range has been the pairs key level for the past weeks and due to repeated attempts and failures of breaking through this range, a target of 1.1500 could be easily reached if the pair would be able to surpass 1.1300 points.

Due to several events happening today, the market is expected to be highly volatile and traders are advised to stay away from the sidelines first and wait for all the fanfare to subside before making any trades.

EUR/USD Technical Analysis: June 8, 2017

The EURUSD edged lower, however, bounced off from Wednesdays support prior the meeting of the European Central Bank scheduled tomorrow along with the leak regarding ECB will lower down inflation predictions.

Moreover, the bund yields decline causing the single European currency to become unattractive and yet traders raise concerns with concerns to the forward guidance of the bank as this could lead the pair to a higher stance.

Additionally, the United Kingdom would likely do polling considering the presidential race tightened significantly but decreased by 18 points roughly because PM Theresa May had announced a snap general election. The pull out made by May would likely result to another hung parliament bringing a chaotic Brexit.

The pair rebounded at 1.221 support close to the 10-day moving average. While resistance highlighted the 1.1284 region around the weekly highs. The next aim for resistance is the level 1.1299 near the highs of November 8.

Momentum appeared to be neutral considering the moving average convergence divergence (MACD) to print within the zero-index level. The histogram is positioned also close to zero with a flat trajectory which suggest for further consolidation. The relative strength index (RSI) showed a neutral stance as it prints at 64 found on the higher end of the neutral range.

NZD/USD Technical Analysis: June 8, 2017

The New Zealand dollar dropped in the beginning of Wednesday session. There is a sufficient support found in the 24-hour EMA in the hourly chart sufficient to reverse the trend to move higher. It seems that the pair would try to reach the 0.72 region and above. A breakout would be the best deal as this makes the start of buying again similar with staying in the lows and how long can it be maintained on yesterday trading.

The pair could further rise if the commodity market, regardless of its type, steadies as it gains strength. It could be the CRB or the ETF outside of the U.S. that are still part of the commodity market as a whole.

Buying on the lows is still ideal for this pair despite its breakdown during the Wednesday session. The 0.7150 is found to be supportive especially the 0.71 handle. Hence, it wont be long before the buyers dominate the market again considering its value when retreated to lower levels.

Consequently, there will be volatility seen in the trend from time to time which is an opportunity for bulls waiting for a chance to sell this pair when the Kiwi recovers.

USD/CAD Fundamental Analysis: June 9, 2017

The events happened yesterday unexpectedly wrought a slight impact against the USD/CAD, as well as to other currency pairs. However, there are predictions that it would be an explosive day yesterday due to incidents lined up while traders work late at night to secure a safe position and to keep their trades well but everything turned out to be less impressive and unexciting.

The said events are as follows; the decision of ECB to hold its rates paired with the announcement on inflation targets and increasing growth outlook, though it is obviously has nothing to do with the pair. Next is the testimony of Comey after he accused US President Trump with lots of things.

These scenarios were unable to move the dollar and any movement only indicates an insignificant strengthening of the greens that lead the USDCAD near 1.35.

In relation to the Canadian dollar, BOC Governor Poloz delivered a speech expressing his delight about the current condition of their economy. He also stated that he was comfortable regarding the price trend in the housing industry. The neutral tone strike by Poloz reflected towards the commodity-linked pair which continuously trades in a steady and unspecified direction.

Later this day, the Canadian employment figures is anticipated to be release that would likely cause volatility. If the report showed a stronger result, it would help the pair to reach the lows of its tight range close to the 1.3450 level.