Asian markets started this week with a growth, Nikkei has set a 3 month top after US positive Unemployment Claims and indexes have closed accordingly high again. There were 217,000 workplaces created in May. Unemployment rate keeps going without changes — 6.3%. Asian sentiments were supported by the news from China. The second world’s biggest economy presented the trade balance with a large surplus.
Europe follows world trends and is trading now in the green area. Lloyds fell for 0.5% because of news. There are no important news because of the Bank Holidays in all the major economies. Currency pairs are forming new trading opportunities
USD/JPY has stopped after it jumped off 200 EMA 100.82 and now it’s building a base before the resistance 102.75-102.80 (this is the last chance for sellers to show their strength if they want to control the situation). The pair has recovered all the main key moving averages which stands for a buyers strength. So I’ll trade tactically in both directions from support/resistance rates. Support rate #1 is 8 EMA, it's about 102.31. If it is broken there is a possibility of the new #2 rate where another key moving averages converge at 102.10-102.15. Resistance is 102.75-102.80
t is the decisive moment for GBP/USD. Two weeks ago sellers broke through the trend line which took place since November 2013. But buyers managed to intercept control and recovered all the main key moving averages both on daily and middle term periods of time. Now the price is building the base before the downtrend (every next top is lower than previous one which stands for lack of demand on these levels). I’ll be waiting for potential trades down for a middle term period 5-15 minutes in the resistance zone 1.68350-.450. This rate breakthrough may attract the breakthrough-traders and their next target can be 1.68800, and 1.69200 after that. Then we have a support rate at 1.67800 which used to act as a resistance. British Prime Minister David Cameron keeps saying that there would be a referendum on leaving the EU.
On a daily chart AUD/USD is getting closer to the bull flag resolution which took place since March 2014. I’ll only be looking up using 8/21 EMA to measure the strength of a trend and potential dynamic support rates. Resistance rate is 0.94081, the next top is 0.94600, and these are my middle term targets.
After 2 months consolidation breakthrough Gold has fallen from $1.300 to $1.240 where it has found a support. Resistance of this 3 days consolidation were broken through with a large green inflamed candle and now buyers are building the base near to the top $1.257. $1.252 support was broken for a while because of the news turmoil, but it was recovered quickly. I predict the continuation of gold’s accumulation and the closest target might be 21 EMA $1.268.
Social networks keep showing relative weakness. Facebook has closed with 1% minus and Twitter with 1.65%. I’ve mentioned a strong $64 resistance before and it didn’t manage to settle higher than that. I’ve pulled the trigger when it broke the mentioned level of $62.82 and kept falling after the little roll back. The intraday bottom was $62.15. The next support would be $62.00, than we have a 21/50 EMA in the $61.25-$61.60 area. Now sellers are holding up prices and all the pressure, so I think that these levels would be broken soon.