Intraday Analysis For EURUSD, GBPUSD, USDJPY And XAUUSD - Tuesday, June 16

EURUSD Outlook

EURUSD Yesterday’s chart analysis

EURUSD have bounced from the strong support confluence level that consists of a horizontal support line and an uptrend support line.

Bullish Pinbar was a sign that the support will hold. Between six H4 candles that have formed on the confluence level none of them did not suggest bearish scenario. The last one that have closed above $1.12806 was a clear signal that the price is moving up.

The price is now right on the resistance level that has made a barrier for the price to continue moving up. Here we will have a possible pullback to $1.12806 before attempt to break above.

We need to see close above $1.13427 to see the price trying to reach $1.14000 and eventually $1.15000. At the $1.14000 we have a resistance confluence level that could hold the price from moving higher or it could make a reversal.

 

GBPUSD Outlook

GBPUSD Yesterday’s chart analysis

GBPUSD closed above resistance level which suggests further move up. Large Pinbar on the support level at $1.24733 pointed for the move up and it is level where bears did not show any strength.

The price manages to close above resistance level $1.26228, which has open the road to $1.27495. That level was a strong resistance level that made price break out from the uptrend channel and revers back to $1.24733.

Because of the closing price above the resistance level $1.26228 I am bullish on this pair until the price close below $1.26228. This level acted as nice support in previous day’s so I am expecting the same scenario.

But, I will be cautious because the GBPUSD could get back below easily. While I am on the side of the bulls I would wait for the pullback and then enter to catch a move of 100 pips.

 

USDJPY Outlook

USDJPY Yesterday’s chart analysis

USDJPY is currently in the indecision area where several signals interfere. We have bearish Pinbar, bullish engulfing and bearish engulfing bar that makes the current situation unclear.

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Disclaimer: Any Advice or information is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By ...

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