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Thread: Accurate Forex Signals

  1. #21 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    USD/CAD


    USD is showing a weak downtrend against CAD during the morning trading session, trying to consolidate below 1.2100.
    Despite the rather optimistic US macroeconomic publications on inflation the day before, the positions of USD are still under pressure. The Consumer Price Index rose 0.6% MoM in May after rising 0.8% MoM in April. Market forecasts assumed a slowdown in the indicator to +0.4% MoM. In annual terms, inflation accelerated from +4.2% YoY to +5% YoY, which also turned out to be higher than the forecasts at +4.7% YoY.
    Today, in addition to the European G7 summit, the focus of traders will be on the publication of statistics from Canada on the dynamics of capacity utilization for Q1 2021. The markets are also awaiting a speech by the Deputy Governor of the Bank of Canada Paul Beaudry.
    Support and resistance


    Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly narrowed from below, remaining spacious enough for the current market activity. MACD histogram preserves the uptrend and a weak buy signal (located above the signal line). Stochastic, having approached the level of "80", reversed into a descending plane, responding to the emergence of a "bearish" trend last Thursday.

    Resistance levels:
    1.2143,
    1.2200,
    1.2245,
    1.2300

    Support levels:
    1.2060,
    1.2000,
    1.1930.
    Attached Images  

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. #22 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    USD/CHF


    Today, during the Asian session, the USD/CHF pair slightly declines, actively testing the level of 0.8930 for a breakdown.
    The instrument shows a downward trend for the sixth session in a row, and even the confident macroeconomic statistics on The US inflation cannot stop the "bears". However, the data on consumer prices are unlikely to provide significant support to the dollar since a reaction from the US Federal Reserve is needed. The next meeting of the American regulator will take place on Wednesday, June 16 but so far analysts' forecasts are rather restrained.
    On Friday, investors expect new drivers to emerge from the launched G7 summit. Among other things, the focus of the market is on the flaring conflict between the UK and the EU over the border of Northern Ireland, which slightly overshadowed the beginning of the meeting. The parties may be able to find at least a temporary compromise, and the market's attention will return to the prospects for the recovery of the global economy in the context of persisting epidemiological risks.

    Support and resistance


    On the daily chart, Bollinger Bands reverse into a horizontal plane. The price range slightly widens from below, letting the "bears" renew local lows. MACD falls, maintaining a poor sell signal (the histogram is below the signal line). Stochastic reached the level of 20 and reversed horizontally, indicating that USD may become oversold in the ultra-short term.

    Resistance levels:
    0.8960
    0.9000
    0.9050
    0.9100

    Support levels:
    0.8925, 0.8880,
    0.8850,
    0.8800.
    Attached Images  

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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