BTCUSD approaching pivot, potential for bounce

Prices are currently facing bearish pressure s it is approaching pivot in line with 100% Fibonacci extension and 78.6% Fibonacci retracement, Prices might push up from pivot towards horizontal swing high resistance in line with 161.8% Fibonacci extension and 61.8% Fibonacci retracement. If prices push down further, price might take support on horizontal swing low support in line with 161.8% Fibonacci extension and 127.2% Fibonacci retracement. EMA is also below prices, showing bullish pressure for prices.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btcusd-approaching-pivot-potential-for-bounce"
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NIKKEI approaching ascending trendline, potential for a bounce

Prices is approaching Pivot, in line with 61.8% Fibonacci retraceemnt, 78.6% Fibonacci extension, ascending trendline support and horizontal swing low support. We could see a bounce and further rise towards 1st resistance. Stocahstics is also approaching the support where it has bounced from before.

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Investment Bank Outlook 07-06-2021

Goldman Sachs USD: Moderate US job gains should keep Dollar on back foot. The US economy added 559k jobs in May and the U3 unemployment rate edged down to a recovery low of 5.8%. But the latest employment report missed market expectations (which were elevated after the earlier ADP result), and did little to dispel concerns that supply frictions are holding back the labor market recovery. Indeed, the US labor force participation rate declined slightly during the month, and the employment-to-population ratio increased by just one tenth. We expect that the report will ease market concerns about an earlier-than-expected wind down of the Fed’s asset purchases, even if it does not entirely eliminate the possibility of a September taper announcement. The combination of steady Fed expectations and a broadening global economic recovery should allow recent Dollar weakness continue.Citi It’s a steady if muted start to the week, with prices little changed from Friday’s close after NFP. With very little on the calendar today, we'll be waiting for events later in the week. It’s all about Thursday, with US CPI and also the ECB. Overnight, comments from Yellen regarding interest rates should be contextualized, while we note that China trade data saw a slight miss in exports.While election results are still being counted, PEN is on track for a sizeable rally as Fujimori looks to emerge victorious from the presidential election run off. MXN sees AMLO and his parties with likely enough votes for a simple majority, while we see KRW and INR trading on a better note today.FX EM and commodity currencies outperformed as commodity prices rose and the NFP report reduced risk of early Fed tightening. Short USD positions have been cut and hawkish Fed risks slightly recede, opening up the way for further USD downside. But this week a likely dovish ECB and potentially high US inflation reading could stand in the way of downside Dollar momentum, even though our overall view remains for a weaker Dollar over time and upside in G10 commodity currencies, EUR and GBP.Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 65% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/investment-bank-outlook-07-06-2021"
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Market Update – June 7 – On the back foot of Jobs and Banks

Market News Today – The markets characterized the May US jobs report as Goldilocks –– neither too hot, nor too cold. Indeed it was just right for bond and stock bulls. Treasuries rallied with a burst of short covering as the smaller than expected headline job increase pushed a Fed tapering further out the calendar. The steep drop in yields was very favorable to Wall Street, and especially the USA100. Today stock markets traded narrowly mixed amid disappointing trade data out of China and with investors keeping a close eye on comments from Treasury Secretary Yellen, who urged President Biden to press ahead with spending plans ($4 trl/year), even if they may fuel inflation, while saying that a “slightly higher” interest rate environment would be a “plus”.China trade data showed weaker than expected export growth, but a jump in imports to highest since 2010.

G7 –  agreed to a global minimum tax of at least 15% on multinational companies faces a rocky path to implementatio. (Biden administration could win support for its US tax increases). – The deal give countries more authority to tax the profits of digital companies like Apple Inc. and Facebook Inc. that dominate global markets but pay relatively little tax in many countries where they operate.

European Open – The Sep 10-year Bund future is little changed, as are US futures, while in cash markets the US 10-year rate has lifted 2.0 bp to 1.57%. EGBs are also likely to move up from the lows seen in the wake of the US payroll number on Friday. With fiscal support being stepped up and the recovery strengthening, the pressure on central banks to take the foot off the accelerator is getting stronger and flexible QE schedules may become more of a thing especially for the ECB, which will meeting on Thursday. ECB is expected to move away from the commitment to “significantly” higher monthly PEPP purchases. GER30 and UK100 futures are currently down -0.2% and up 0.04% respectively, while US futures are fractionally lower.

Covid will remain on the regional radar screen this week, as cases in several countries continue to rise, causing economic restrictions and factory closures. Thailand and Vietnam have been hit by fresh outbreaks, while Malaysia last week put a total lockdown in place. The restrictions will ultimately impact incoming data in the region.

Today – Today’s slate includes Japan’s Q1 GDP, current account, PPI and the MoF business outlook survey.  Supply is a focal point in the week ahead with the $120 bln in coupon auctions. Today‘s rally in Treasuries reflects little fear. Ironically, the richening may work to diminish demand. Markets will also digest today the G7 agreement on tax payments of big firms.

Biggest FX Mover @ (07:30 GMT) EURGBP (+0.49%) has moved up from 2 month floor at 0.8560. Faster  MAs remain aligned higher,  RSI 68and spiking higher, MACD signal line and histogram rising but signal remain at 0. Stochs turning lower from OB zone. H1 ATR 0.0005, Daily ATR 0.0041.

Click here to access our Economic Calendar

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Biden to press UK PM Johnson over Northern Ireland - The Times

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After NFP Data, Where Will Gold Go?

XAUUSD jumped around 1% on Friday, following the Non-farm Payrolls report showing a slight increase in job changes and a lower unemployment rate. The results of the NFP are considered disappointing when compared to the previous ADP Employment Change, which showed that the private sector absorbed nearly one million new jobs. As a result, gold prices strengthened and closed the week at 1891.55 amid a pullback in the USD, while treasury yields saw a much more choppy reaction with less weakness.

USDIndex vs. XAUUSD

Gold finished the trading week near the 1891.55 area. The asset price quote continues to move as part of the correction and formation of the inverted Head and Shoulders pattern. The moving averages show a bullish trend for Gold, where the daily price is above the 20/50/200 day EMA moving averages.Average prices have support around 1850.00 and a bounce from 1856.01 last week indicates pressure from buyers and a potential rally. A break of the 1916.50 resistance would confirm further strengthening to 1959.28. A break of the support level at 1850.00 is biased downwards for correction, completing the inverted Head & Shoulders pattern with a bounce at the support level at 1808.00 or lower again at the correction level of 61.8%FR at 1768.00.

Click here to access our Economic Calendar

Ady Phangestu

Analyst – HF Indonesia

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Daily Market Outlook, June 7, 2021

Daily Market Outlook, June 7, 2021 Overnight Headlines U.S. TsySec Yellen – G7 commits to global minimum corp tax rate, tech giants, tax havens targeted Yellen – urges G7 to keep up fiscal support for recovery, climate investments, inflation to pass U.S. job growth picks up, wages boosted, leisure-hospitality pay surges to record Clock is ticking for Republicans on infrastructure, Biden officials say Speculators decrease short dollar bets in latest week – CFTC/Reuters China's imports grow at fastest pace in decade as materials prices surge • CN May Exports YY, 27.9%, 32.1% f'cast, 32.2% prev; Imports YY, 51.1%, 51.5% f'cast, 43.1% prev • CN May Trade Balance, 45.53 bln, 50.50 bln f'cast, 42.83 bln prev Former China FX official says "opportune moment" to launch yuan futures. China blocks several cryptocurrency-related social media accounts amid crackdown Japan to pledge fiscal reform in economic blueprint, action to avert deflation – draft S&P upgrades outlook on Australia's AAA rating to stable from negative • Australian job advertisements jump 7.9% in May – ANZ • Australia's Victoria logs biggest rise in COVID-19 cases in a week Conservative win in German state election boosts Laschet’s chancellery hopesG10 FX Options Expiries for 10AM New York Cut(Hedging effect can often draw spot toward strikes pre expiry if nearby)EUR/USD: 1.2050 (677M), 1.2175 (591M), 1.2215 (624M), 1.2250 (650M)1.2290-1.2300 (1BLN)USD/CHF: 0.9125 (600M). EUR/GBP: 0.8615 (275M)AUD/USD: 0.7650 (266M), 0.7675 (238M), 0.7700 (467M), 0.7730 (248M)USD/CAD: 1.2000 (895M). EUR/JPY: 133.40 (439M)USD/JPY: 109.20 (670M), 109.50 (1.25BLN), 110.00 (781M), 110.50 (825M)Technical & Trade ViewsEURUSD Bias: Bearish below 1.2150 bullish aboveOvernight trade: Consolidates as post-US jobs hangover fails to inspire • EUR/USD opened +0.33% after reversing higher following US payroll report • After opening at 1.2167, it traded in a tiny 1.2160/72 range in Asia • Resistance is at the 21-day MA at 1.2175 and 10-day MA at 1.2194 • EUR/USD will need to break above 1.2200 to regain upward momentum • A break below 1.2155 will likely see post-US jobs gap filled to 1.2130/35 • Range trading likely to continue until market finds fresh catalystFlow reports topside offers congested through to the 1.2300 level with weak stops limited through the 1.2320 area and long term trend line around the 1.2345 area likely to see strong offers before weak stops opening the topside to further gains through the 1.2400 level. Downside bids into the 1.2140-60 level likely to be light and then increasing through the 1.2120 level to 1.2080 before weak stops appear and open up a deeper move through to the 1.2000 level with very little congestion until that point.GBPUSD Bias: Bullish above 1.41 bearish below.Overnight trade: Heavy in a low key start, as risk appetite cools • -0.15% at the base of a 1.4139-1.4170 range with only occasional interest • Risk cools with softer commodities, mixed stocks – firmer US Treasury yields • Britain's lowest-paid workers face highest jobless risk • UK calls for pragmatism and EU seeks trust into N.Ireland talks • This week's N.Ireland talks will be key for the EU-UK relationship this year • Charts; 5, 10 & 21 DMAs coil, momentum studies slip – neutral setup • 1.4080-1.4250 range in place since mid May could be vulnerable • Tight 21 day Bollinger bands contract, which suggests a breakout is dueFlow reports suggest topside offers light through the 1.4250 area with some congestion increasing on any move to the 1.4300 and stronger offers in the area, a break above the 1.4310 area will likely see weak stops and breakout stops coinciding and the topside open to a quick squeeze through the 1.4350 level and an attempt on the possibly weak 1.4400 area and stronger stops again through the level. Downside bids likely to increase on a move through to the 1.4100 with a couple of weeks of congestion building up in the area with weak stops on a break through the 1.4090-80 area and opening to the 1.4000 level with very little support other than limited sentimental bids, however, the move through will then start to see stronger bids into the 1.3950-1.3900 area limiting any further loses.USDJPY Bias: Bullish above 108 targeting 112Overnight trade: claws back after plunge to 109.37, good bids • USD/JPY claws back up after plunge to 109.37 after another US NFP miss • To @109.54 at NY close, Asia 109.47-63 EBS, good bids below from 109.30 • Bids trail down, large around 109.00, more interest eyed below • USD/JPY back to low-altitude flight, base 108.30-40 lows post-April NFP • Offers in above too, large at 109.65, Japanese exporters included • Option expiries help contain action today, $1.7 bln between 109.45-70 • US yields off again to lows of last week, Treasury 10s @1.571%Flow reports suggest downside light through the 108.50 before opening the market to a new test of the 108.00 level, stronger bids into the 107.80 however, a break through the level is likely to see weak stops and breakout stops appearing and the market free to quickly test 107.50 and an old trendline then nothing until closer to the 107.00 area where stronger bids start to appear but the downside opening to Feb levels, topside offers through to the 110.00 level with light congestion through the figure level and weak stops possibly limited and stronger offers likely increasing on a move higher towards the 111.00AUDUSD Bias: Bearish below .7790 bullish aboveOvernight trade: eases slightly in quiet Asian session • AUD/USD opened 0.7745 after rising 1.07% after Friday's US jobs miss • After trading at 0.7748, the AUD/USD attained an offered tone • It traded down to 0.7731 before settling around 0.7735 into the afternoon • Support is at the 10-day MA at 0.7732 and close below eases upward pressure • Resistance is at the 21-day mA at 0.7750 where sellers are tipped • Range trading likely after Thursday's false breakFlow reports topside offers into the 0.7800 area with weak stops through the 0.7820 before opening for a new run higher and strong offers likely through the 0.7840-60 area to build for the 79-cent level. Downside bids into the 0.7700 level with weak stops on a move through the 0.7680 area however, stronger bids then start to show through into the 0.7650 and ultimately the 0.7600 area and likely to continue in that fashion through to the 0.7550 area.Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 65% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-june-7-2021"
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Dollar Edges Higher; Focus Turns to May CPI Release

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Dollar Up, But Gentle Pressure Remains Ahead of “Super Thursday”

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Dented by jobs miss, dollar teeters ahead of CPI

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Japan's yen set to suffer a while longer as BOJ baulks at tapering

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Brazil short-term FX rally obscured by reform worries: Reuters poll

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Rally in emerging market commodity currencies to roll on: Reuters poll

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Duration of U.S. dollar weakness splits FX analysts: Reuters poll

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