GBPUSD, H4 | Potential For Bearish Continuation

Type: Bearish ReversalKey Levels:Resistance: 1.25969Pivot: 1.25463Support: 1.2457Preferred Case:On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our pivot at 1.25463 where the swing high resistance is to the 1st support at 1.2457 in line with the swing low support, 38.2% fibonacci retracement and 61.8% fibonacci retracement .Alternative Scenario:Alternatively, prices may break pivot structure and rise to 1st resistance at 1.25969 in line with swing high resistance and 78.6% fibonacci projection .

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-for-bearish-continuation9"
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AUDCAD, H4 | Potential Bearish Momentum

Type: Bearish ReversalKey Levels:Resistance: 0.90689Pivot: 0.90421Support: 0.89571Preferred Case:On the H4, with prices moving below the ichimoku indicator, price breakout from ascending trendline, we have a bearish bias that price will drop from our pivot at 0.90421 where the horizontal pullback resistance is to our 1st support at 0.89571 where the horizontal swing low support, 200% fibonacci extension and 78.6% fibonacci retracement are.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 0.90689 in line with swing high resistance.

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Daily Market Outlook, June 9, 2022

Daily Market Outlook, June 9, 2022 Overnight Headlines China’s May Trade Balance Surplus Balloons On Exports Surge Beijing Cases Hover Near Lows As Regional Outbreaks Under Focus RBNZ To Begin Five-Year Exit From QE Bond Holdings Next Month IMF's Gopinath Sees Risk Of De-Anchoring US Inflation Expectations UK Gov Northern Ireland Protocol Legislation Now Expected Next Week UK BCC: UK Growth Will 'Grind To A Halt', 10% Inflation On The Way Iran Expands Advanced Centrifuge Work Underground, IAEA Report Shows Yen Extends Slide, Euro Steady As All Eyes On ECB Meeting Ethereum Moves Closer To Blockchain Revamp After Milestone Test Oil Hovers Near 13-Week High On Robust US Demand, China Optimism Asian Shares Slip And US Bond Yields Rise As Investors Await ECB Twitter Will Give Elon User Data, But It's Not The Data He Needs - Axios EU Lawmakers Uphold Ban On New Combustion Engine Cars By 2035The Day Ahead Asian equity markets are mostly lower this morning. Brent crude oil has risen towards $124 a barrel, adding to inflation concerns, and US 10-year Treasury yields have edged further above 3%. There were also reports Shanghai is introducing lockdown restrictions in some districts for mass Covid testing. That offset better data on China’s trade flows. The OECD yesterday downgraded its global GDP growth forecast for this year to 3.0% from 4.5% and sees it moderating further to 2.8% in 2023. It predicted UK growth of 3.6% this year before stagnating in 2023. Today’s focus is the policy update from the European Central Bank. The policy decision will be announced at 12:45BST, followed by the press conference with President Lagarde from 13:30BST. Although interest rates are expected to be left unchanged, markets will be watching for confirmation of an imminent end to net asset purchases under its QE programme. That would pave the way for interest rate lift-off at the next meeting on 21 July. ECB President Lagarde has indicated that 25bp hikes are on the table for both July and September, which would bring the deposit rate out of negative territory from the current -0.5% to 0%. President Lagarde has played down prospects of a larger 50bp increase in one go, although there is pressure from some rate-setters to move more quickly. There is also speculation that the ECB will also announce measures to counter the risk of wider peripheral bond yield spreads within the Eurozone as QE ends and interest rates start to rise. A reassessment of the inflation outlook will be provided in the ECB’s new macroeconomic projections. Eurozone inflation has continued to surprise on the upside, with the latest May reading at 8.1% for headline CPI, while even core inflation (excluding food and energy) is well above target at 3.8% reflecting strong price rises for services and non-energy industrial goods. Overnight, the UK RICS survey’s house price balance eased to 73% in May from 80% in April. The organisation said that new buyer enquiries fell but constrained supply will continue to support house prices. Later today, PM Johnson is expected to give a speech which will include housing market reform, including extending right to buy to people renting from housing associations. Elsewhere, US weekly jobless claims are expected to reaffirm a tight labour market. Expect initial claims to have edged just below 200k and to remain not too far above March lows. China will release CPI and PPI inflation data early Friday.FX Options Expiring 10am New York Cut EUR/USD: 1.0600-05 (1.03BLN), 1.0620-25 (288M) 1.0650 (258M), 1.0750-55 (1.06BLN), 1.0800 (294M) USD/JPY: 130.95-00 (621M) GBP/USD: 1.2400-10 (374M), 1.2575-80 (336M) 1.2600-05 (574M). EUR/GBP: 0.8600 (200M), 0.8650 (312M) EUR/CHF: 1.0350 (831M) AUD/USD: 0.7100 (763M), 0.7135 (475M), 0.7165-75 (900M) 0.7180-85 (406M) USD/CAD: 1.2500 (389M), 1.2690-00 (460M)Technical & Trade ViewsEURUSD Bias: Bearish below 1.07 Bullish above EUR/USD opened +0.12% at 1.0717 after rising against all major currencies After trading 1.0709 it edged higher on pre-ECB positioning It traded 1.0733 and is around 1.0730 into the afternoon EUR/USD not trending, but ECB decision/message may spark fresh trend Offers seen towards 1.0790/1.08 1.0620 Fibo is a 38.2% retrace of the 1.0349-1.0787 May recovery EUR/USD's recent rise ground to a halt by key 1.0787 Fibo supply 1.0787 Fibo is a 38.2% retrace of the 1.1495 to 1.0349 (EBS) fallGBPUSD Bias: Bearish below 1.26 Bullish above. Steady after trading in a 1.2523-1.2542 range with modest interest Tight ranges for the major currencies in Asia into ECB rate decision Cost of living pressures begin to weigh on UK housing market Cable drops to 1.2505 before UK PM delivers first policy speech since Monday 1.2505 = two-day low (1.2515 was Wednesday's low) 41% of Tory MPs voted against Johnson in confidence vote Monday 1.2433 was Tuesday's low, courtesy of political damage to Johnson from vote 1.26 = ensuing top (after shorts squeezed). By-election tests for PM June 23USDJPY Bias: Bullish above 127 Bearish below JPY remains on the back-foot across the board, USD/JPY to 134.56 high Low limited to 134.12, 133.84 EBS later, no verbal intervention today In fact, IMF Salgado backed-up BoJ view weak JPY due to fundamentals USD/JPY dip-buy interest still from Japanese importers, some investors Tech support from 133.74 - 133.24 Some Japanese exporter sales, more offers eyed @134.50+, towards 135 Talk any option barriers at 135.00 could be large, large too at 135.50AUDUSD Bias: Bullish above .7200 Bearish below AUD/USD opened -0.59% at 0.7189 after rise in US yields supported USD It traded 0.7193 early before drifting lower through the morning Soft equities and report Shanghai COVID restrictions increasing weighed AUD/USD fell to 0.7161 before buyers returned to give support Heading into the afternoon it is trading 0.7175/80 Key support at 0.7105/10 a 38.2 fibo

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Investment Bank Outlook 09-06-2022

Credit AgricoleAsia OvernightThe rise in UST 5Y and 10Y UST yields back above 3% as well as higher oil prices weighed on investor sentiment during the Asian session. The Chinese technology stock rally that started yesterday also appears to have petered out. China’s trade data showed an upside surprise in its trade balance and exports, which helped support sentiment. A firmer CNH following the data also weighed a little on the USD. At the time of writing, most Asian bourses as well as S&P 500 futures were trading lower. G10 FX was trading in tight ranges ahead of the ECB meeting later today. The AUD was a modest underperformer during the Asian session given that China’s imports data was soft. The JPY was a modest outperformer on a softer USDCIBCFX FlowsLike yesterday and the day before that, $YEN prodded higher with talk of buying coming from the retail sector. Japanese retail day traders were long $YEN and have been reducing and going short above 130. They are now stopping out. Little fatigue after 134.525, the pair drifted back towards 134.12. Witness good volume around 134.15-25, profit taking from offshore names while speculators bought on higher US yields. $YEN moved lower over the Tokyo lunch, there wasn’t any headlines, I suspect maybe headlines available locally in Japanese.Indeed a slow session as we head into ECB meeting. The pressure is on the central bank to deliver a monetary policy response to inflation. Nothing is expected in today’s meeting but rate expectations have been ramped up of late with markets torn between 25 bps or 50 bps move next month with asset purchases coming to an end. The majority of the Governing Council seems to be in support of a smaller move, but market participants will be closely watching remarks. Story in Bloomberg that hedge funds are positioning short US Treasuries into Thursday. What if the ECB disappoints? I believe EUR$ is still locked inside 1.0620 and 1.0787. Hawkish and we’ll see if we can take out the topside.One of Australia’s biggest bank issued a report that it expects the current aggressive monetary policy tightening to weigh heavily on the economy and force RBA to reverse course and cut interest rates in the second half of 2023. I do not think AU$ reacted to this story. AU$ weakness was linked to lower AU$NZ$ cross. Yield spreads of the 2-year AU-NZ bonds widened to 76 bps this morning. Danger lurks below 1.1085. For the AU$, technical resistance at 0.7193 and intraday support at 0.7141.$CAD ended the morning at middle of the day’s range, not reflecting AU$. In our FICC, Ian Pollick wrote given the BoC change in tone from the April meeting, we are likely going to change the policy forecast, but we want to see the employment data tomorrow first. If and when we adjust our forecast, it would likely be pulling forward the single hike we expected in 2023 into 2022, making September a 50 bps meeting (from 25 bps currently) and 2.50% being achieved earlier. Importantly, that is the level at which we see the Bank taking a pause for 2022, and perhaps for the rest of thecycle. Ian believes the peak in longer-term yields is fast approaching. For example, our current rates forecast has the peak in CAD 10yr yields at 3.15%, slightly below current levels at time of writing. Macro strategist Bipan is sticking to his view that $CAD range 1.25-1.30 and risk is to the upside. Option strikes due today, $740mio at 1.2500 and $440mio at 1.2690.Strong trade data from China, export growth rebounded in May, data released, while import growth also beat expectations. Exports grew by 16.9%, total trade surplus was $78.76bn versus $51.12bn previous month. $CNH had a nudge lower onto 6.69-handle. Total of $2.39bn of 6.7000 strikes mature today.

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Market Update – June 10 – European Futures Down Ahead of ECB

USDIndex steady at 102.50 but overall USD on bid. Stocks traded mostly lower, with China bourses hit by news suggesting that virus restrictions in part of Shanghai are already being tightened again amid a rise in case numbers, shortly after Covid lockdowns were lifted. Shanghai will lock down the Minhang district on Saturday morning for mass COVID-19 testing, according to Bloomberg. Hang Seng -0.9%, US stocks closed down over 1% (INTEL -5.28%), Yields back up (10-yr over 3% again), JPY pressured,  Brent & WTI rose over 2.5% on tight supply and China opening up. Yellen says some China tariffs still warranted. Bonds are under pressure, with a 6 bp jump in Australia leading the way overnight.

Overnight – China trade surplus widened as exports rebound. 

• USDIndex dipped to 102.24.
• Equities – Hang Seng and CSI300 are currently down -0.9% and -0.8% respectively. JPN225 moved sideways, but the ASX lost 1.5%. GER40 and UK100 are both down -0.6% and US futures are also in the red. USA500 finished off -1.08%, while the USA30 was off -0.81% and the USA100 was -0.73% lower.
• Intel rethinks near-term spending plans amid economic uncertainty – freezes some hiring.
• Yields 10-year rose over 6 bps to test 3.045%. The 2-year was 4 bps higher at 2.77%. The 10-year Bund yield is up 0.4 bp at 1.35%.
• USOIL up to $123.13 after stronger-than-expected Chinese exports in May, but found a ceiling amid new Shanghai lockdown restrictions. Gold weaker again below 1850. 
• NATGAS futures jump 25% this morning on US LNG outage.
• FX markets – Yen found some support in the near term. USDJPY is above 133.90. EURUSD found some buyers ahead of the ECB meeting, leaving EURUSD at 1.0712, while Cable dropped to 1.2516 and Sterling also declined against the EUR. Turkish lira slid to beyond 17.2.

Today – ECB Rate Decision and Statement and US jobless claims.

ECB Preview: Markets are eagerly awaiting today’s press conference. Rate settings are expected to be held steady for now, and while there are some members who see the urgency to act sooner rather than later as inflation goes through the roof, the ECB’s timetable for the phasing out of stimulus effectively excludes a move on rates this week. Net asset purchases need to end first and Lagarde is expected to confirm that this will happen early in July, which would pave the way for a rate hike in July. Lagarde has already mapped out two moves in July and September and the basic scenario is for “gradual” 25 bp steps, although the discussion on a bolder kick off with a 50 bp boost in July has already started. We suspect that Lagarde will stick with a focus on “gradualism” for now. But she will not rule out a 50 bp step as the need to maintain credibility and assert the Bank’s commitment to price stability and the 2% inflation target seem increasingly urgent.

Biggest Mover @ (06:30 GMT) Platinum (-1.92%). Next key support at 970.00. H1 MAs aligning lower, MACD histogram sharply down, RSI 28, OS & declining, H1 ATR 3.91, Daily ATR 24.51.

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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 distribution.

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Market Spotlight: World Bank Slashes Global Growth Forecasts

World Bank Cites Ukraine, Inflation & Supply Issues As Recession RisksIn its latest Global Economic Prospects report issued today, the World Bank warned that many countries are at severe risk of a “major recession” in the wake of the violence in Ukraine, inflation and supply-issues. In particular, the World Bank noted that less developed nations in Europe and Asia are facing elevated risks.Inflation Likely to PersistIn the report, the World Bank noted: "The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid." Looking ahead, the outlook is not positive with report going on to say that "Subdued growth will likely persist throughout the decade because of weak investment in most of the world. With inflation now running at multi-decade highs in many countries and supply expected to grow slowly, there is a risk that inflation will remain higher for longer."Global Growth Outlook DowngradedThe bank’s global growth projection has now been reduced to 2.9% from 4.1% in January, in light of these risks. In the US, the World Bank expected 2022 growth of 2.5%, down from the prior 3.7% projection. China also saw its growth outlook slashed to 4.3% while the Eurozone is forecast to see growth of 2.5%, down from the prior 4.2% projection. Notably, the report concluded that: “Even if a global recession is averted, the pain of stagflation could persist for several years -- unless major supply increases are set in motion.”Technical ViewsMSCI World Index FundThe recovery in the index off the 110.27 lows has seen price trading back up into the middle of the bearish channel which has framed the sell-off this year. Price is currently caught around the 117.91 level, which marks the March and February lows. With both MACD and RSI bullish, however, the focus is on a further push higher with 122.06 and the channel highs the next resistance levels to note. Failure at the current level, however puts the focus on further downside and a resumption of the bear trend.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-world-bank-slashes-global-growth-forecasts"
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It survived the pandemic, but will Rolls-Royce ever be the same again?

Rolls-Royce survived the pandemic-induced collapse in the aviation industry – its biggest market – but it still struggles to create value for shareholders. So, asks Rupert Hargreaves, should you buy Rolls-Royce shares?

from Moneyweek RSS Feed https://moneyweek.com/investments/stocks-and-shares/604944/should-you-buy-rolls-royce-shares
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RICE FUTURES (ZR1!), H1 Potential for Bearish Momentum

Type: Bearish MomentumKey Levels:Resistance: 16.985Pivot: 16.760Support: 16.360Preferred Case:On the H1, price is moving below the ichimoku cloud and has a bearish exit from the ascending channel which supports our bearish bias that when price drops to our pivot at 16.760 in line with swing low resistance, 61.8% fibonacci projection and 78.6% fibonacci projection , there will be a bearish momentum that price will drop to the 1st support at 16.375 in line with the swing low support and 100% fibonacci projection .Alternative Scenario:Alternatively, price may break through pivot structure and rise to the 1st resistance level at 16.985 in line with the pullback resistance.Fundamentals:Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for rice.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/rice-futures-zr1-h1-potential-for-bearish-momentum8"
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ZINC FUTURES (ZR1!), H1 Potential For Bearish Momentum

Type: Bearish MomentumKey Levels:Resistance: 333.95Pivot: 329.95Support: 317.75Preferred Case:On the H1, price is moving below the ichimoku cloud and has broken out from the ascending trendline which supports our bearish bias that price will drop from our pivot at 329.95 in line with the overlap resistance and 38.2% fibonacci retracement to the 1st support at 317.75 in line with the swing low support, 50% fibonnaci retracement and 78.6% fibonacci projection .Alternative Scenario:Alternatively, price may break through pivot structure and rise to the 1st resistance level at 333.95 in line with the swing high resistance, 100% fibonacci projection and 61.8% fibonacci retracement .Fundamentals:As market worries over inflation slightly pushed up US dollar index , we have weak bearish bias for zinc.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/zinc-futures-zr1-h1-potential-for-bearish-momentum"
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CRUDE OIL FUTURES (CL1!), H1 Potential For Bullish Momentum

Type: Bullish RiseKey Levels:Resistance: 9753Pivot: 9312Support: 9129Preferred Case:On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 9312 where the overlap support is to the 1st resistance at 9753 in line with the pullback resistance, 161.8% fibonacci extension and 100% fibonacci projectionAlternative Scenario:Alternatively, price may break pivot structure and drop to the 1st support at 9129 in line with the overlap support.Fundamentals:Due to the Russian-Ukraine invasion and a shortage of oil shipments from Russia, oil prices are projected to continue to increase. As a result, we've adopted a bullish stance.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/crude-oil-futures-cl1-h1-potential-for-bullish-momentum8"
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S&P500, H4 Potential For Bullish Momentum

Type: Bullish RiseKey Levels:Resistance: 4300.25Pivot: 4090Support: 3977Preferred Case:On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our pivot at 4090 in line with our 38.2% fibonacci retracement and overlap support to our 1st resistance at 4300.25 in line with the 61.8% fibonacci retracement at the horizontal pullback swing high.Alternative Scenario:Alternatively, price may break support structure at the pivot and drop to the 1st support at 3977 in line with the 78.6% fibonacci projection.Fundamentals:No major news

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/s-and-p500-h4-potential-for-bullish-momentum"
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Daily Market Outlook, June 8, 2022

Daily Market Outlook, June 8, 2022 Overnight Headlines Chinese Official: PBoC Will Guide Financing Costs Lower China MOFCOM: Foreign Trade Faces Uncertainties, Huge Pressure Japan's Q1 GDP Revised Up To 0.5% Annualised Contraction Japan's Current Account Surplus Shrinks On Record Imports US Tsy Sec. Yellen Urges Congress To Do More To Fight Inflation US Tsy Moves To Block Investors From Buying Russian Debt US Consumer Credit Surges Again As Loans, Card Spending Jump UK PM Seeks To Shift Narrative With Law To Rip Up Brexit Deal World Bank Warns Of Weak Growth And High Inflation Yen Tumble Continues As Weakness Spreads Beyond The Dollar Oil Prices Inch Higher Ahead Of US Inventories Data China Tech Shares Rally As Game Approvals Give Nod To Recovery Musk's Twitter Deal Threats Put New Financing On IceThe Day Ahead Asian equity markets are mostly higher this morning although Chinese indices are little changed on the day. The World Bank has revised down its global economic growth forecasts citing concerns about the surge in energy and food prices, supply side disruptions and the impact of tighter monetary policy. It warned that a few years of below-average growth and above-average inflation lie ahead, and that the global economy could tip into 1970s like stagflation. Reports suggest that the UK government plans to push ahead with legislation to override the Northern Irish protocol in the Brexit deal. Some sources say this will be introduced to parliament today or tomorrow, but others claim it will be delayed until next week. Today’s data calendar is very light. In the UK, the PMI construction index for May will provide an update on a part of the economy that is both highly cyclical and interest rate sensitive. As of April, the survey still showed activity in the sector at a high level but there were signs that growth was slowing. Having held steady at 59.1 in February and March, the headline index slipped to 58.2, although this is still the third highest reading since July of last year. In further signs of slowing growth, the detail of the April report showed that both new orders and expectations regarding future output fell to their lowest levels this year. The consensus expectation for May is for a further slowing in pace of growth. In the Eurozone, Q1 GDP is a second reading. The expectation is that this will not be revised. However, a much larger-than-expected quarterly growth in Ireland of 10.8% points to some upside risks. The report will also contain more detail and there will be particular interest in what components of expenditure led the rebound from Omicron and whether consumer expenditure will show any signs of a negative impact from surging inflation. Eurozone employment data for Q1 will also be released. The OECD will publish its latest set of economic forecasts this morning. Its last update in March gave its first impressions of the potential economic impact of the war in Ukraine. This new release will provide further information now that it has more time to consider potential effects. It will be particularly interesting to see the organisation’s economic policy recommendations, including the extent to which it expects interest rates to rise.FX Options Expiring 10am New York Cut EUR/USD: 1.0550-60 (640M), 1.0580-85 (431M) 1.0600 (545M), 1.0650 (537M), 1.0665-70 (310M), 1.0685 (302M) 1.0720 (300M), 1.0750-60 (830M), 1.0800 (880M) USD/JPY: 132.00 (210M), 133.45-51 (333M). EUR/JPY: 141.00 (228M) GBP/USD: 1.2450 (702M). 0.8450 (363M), 0.8590-95 (805M) AUD/USD: 0.7250 (203M), 0.7300-10 (485M) NZD/USD: 0.6315 (1.063BLN). USD/CAD: 1.2570-80 (310M) USD/CHF: 0.9525 (630M). USD/ZAR: 15.00 (450M)Technical & Trade ViewsEURUSD Bias: Bearish below 1.07 Bullish above EUR/USD opened +0.07% at 1.0711 after fall in US yields gave support USD/JPY broke above 133.00 early Asia and gave USD a bid tone EUR/USD slipped below 1.0700 and tracked down to 1.0682 EUR/USD is consolidating with clearly defined technical levels Resistance is at the 38.2 fibo of the 2022 high/low at 1.0786 A break above 1.0790 should result in the EUR/USD heading towards 1.09 Support is at at 1.0628 and break targets below 1.0500 Consolidation may continue ahead of ECB decision Thursday EUR/USD VWAP remains bullishGBPUSD Bias: Bearish below 1.26 Bullish above. -0.2% with a broadly firmer USD amid cooling risk appetite, E-minis -0.3% Trades at the base of a 1.2564-1.2597 range with plenty of interest on D3 Tuesday's bullish outside day needs a close above 1.2600 to confirm Daily momentum flips bullish 20 day VWAP bands rise - modest topside bias 1.2482 NY low then early London 1.2433 base initial supports 1.2600 NY high then 1.2666 May high are first resistanceUSDJPY Bias: Bullish above 127 Bearish below USD/JPY 132.61 to 133.22 EBS in Asia today, continuing moves higher Specs eyeing push towards 135.00, 135.20 high Jan 2002, maybe 150 BoJ easy stance supportive of view, data out today policy supportive Relatively firm US yields also USD/JPY supportive, Treasury 10s @2.993% Japanese importers remain in bind, must buy, demand higher too Bloc instrumental in recent push up, unable to buy enough on 128, 129 US funds, others also recently buyers of USD calls, cash USD/JPY Periodic Japanese exporter sales, at Tokyo fix today, but impact ephemeral Talk more option barriers above from 133.50, every 50 ticks up, 135 largeAUDUSD Bias: Bullish above .7200 Bearish below AUD/USD opened +0.53% at 0.7231 after easing US yields underpinned After trading at 0.7234 the AUD/USD began a slow grind lower A break above 133.00 in USD/JPY led the USD broadly higher AUD/USD is trading at the session low at 0.7200/05 into the afternoon Support is at 0.7191 with buying tipped ahead of 0.7150 AUD/USD trending higher with the 20 day VWAP bands A fall below 0.7095 would signal trend is over Resistance is at 0.7257 and June 3 high at 0.7282

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-june-8-2022"
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USDCHF, H4 | Potential Bullish Momentum

Type: Bullish BounceKey Levels:Resistance: 0.98726Pivot: 0.97157Support: 0.96394Preferred Case:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 0.97157 where the horizontal swing low support is to our 1st resistance at 0.98726 in line with the pullback resistance, 161.8% fibonacci extension , 61.8% fibonacci retracement and 100% fibonacci projection.Alternative Scenario:Alternatively, price may break entry structure and head for 1st support at 0.96394 where the horizontal overlap support is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdchf-h4-or-potential-bullish-momentum"
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USDJPY, H4 | Potential Bullish Momentum

Type: Bullish BounceKey Levels:Resistance: 134.428Pivot: 132.513Support: 131.186Preferred Case:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 132.513 where the horizontal swing low support is to our 1st resistance at 134.428 in line with the 161.8% fibonacci extension and 78.6% fibonacci projection.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 131.186 where the horizontal overlap support is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-bullish-momentum8"
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