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June 6th, 2019 @ 5:29 am by Muhammad Azeem

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Intraday bias in GBPUSD remains on the up side for the moment and traders should consider only long trades and no trade against the current GBPUSD bullish trend. Technically; bullish trend could take price action towards next target at 1.2750.

 

Vital area for buyers is present at 1.2662, based on most recent swing low in fifteen minutes chart of GBPUSD. However, a clear bearish break down in price action below 1.2662 vital support area will end bullish momentum. In such a market scenario, it would be best not to trade the market and re-analyze the GBPUSD 15 minutes time frame.

GBPUSD Forex Analysis

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June 6th, 2019 @ 5:29 am by Muhammad Azeem

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With a good momentum, the price of USDCHF Spot Forex pair is moving up and currency traders may attempt to look for a buy trading chance to join the up trend. Price action is stepping high and we expect market to keep rising up towards 0.99554 price target area.

 

Multiple bullish legs pattern could be seen in USDCHF price action. Key support level is present at 0.9912 price level, based on most recent swing low in 15 minutes time frame of USDCHF. However, a clear bearish break down in price action below 0.9912 vital support area will end the up trend. Henceforth, I may jump at the chance to stay out of the market and re-inspect the USDCHF price action.

USDCHF Forex Analysis

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June 6th, 2019 @ 5:28 am by Muhammad Azeem

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With a strong sideways market, the price of USD/JPY Spot Forex pair is moving nowhere and Forex traders could easily notice that price action is printing up and down swings, meaning no trading chances for the day.

 

Multiple bullish and bearish legs could be seen in USD/JPY price action and market could hit a support area or a resistance level and the price direction looks unclear. Price action is stepping down and stepping up, looks like a Zig Zag pattern in both directions. Strong resistance is present at 108.47 price level and strong support is present at 107.80, based on most recent swing high and swing low in 15 minutes time frame of USD/JPY. However; a clear bullish break out in price action above 108.47 resistance area or a bearish break down in price action below 107.80 support area will kick start the new trend. So, based on today’s market situation, avoid buying and selling USD/JPY and just keep re-analyzing the price movement.

USDJPY Forex Analysis

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June 6th, 2019 @ 5:27 am by Muhammad Azeem

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Price action looks solid sideways in EURUSD and it is moving no place. The market is venturing down and venturing up and Forex investors could undoubtedly see that market activity is printing all over mix swings. Upcoming near term direction of the market looks ambiguous and we could expect EURUSD to hit buy zone or sell zone.

 

Zig Zag pattern has appeared in intraday chart. Solid long area is available at 1.1219 value level and solid short area is available at 1.1306, in light of latest swing high and swing low in 15 minutes time span of EURUSD. With reference to the sideways pattern, currency traders ought to consider no sell and no buy trades. In any case; a bearish break down in market activity beneath 1.1219 buyer area or a bullish break out in price activity above 1.1306, helps to bring a new trend in market. In this way, in view of the present market circumstance, abstain from buying and selling EURUSD and simply keep re-investigating the market development.

EURUSD Forex Analysis

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June 5th, 2019 @ 6:11 am by Muhammad Azeem

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Based on short term chart analysis in USDCHF it appears a sideways price action is in progress and there is no up or down trend present. From the conservative trading viewpoint, Forex traders must not trade today as the direction of USD/CHF looks uncertain.

 

Vital area for sellers is present at 0.9955, based on most recent swing high and vital area for buyers is present at 0.9901, based on most recent swing low in fifteen minutes chart of USDCHF. A good idea is to look for a break out or break down in either direction. So, for the time being, currency traders may jump at the chance to stay out of market and just inspect USDCHF Spot Forex pair.

USDCHF Forex Analysis

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June 5th, 2019 @ 6:11 am by Muhammad Azeem

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Price action looks solid sideways in USDJPY and it is moving no place. The market is venturing down and venturing up and Forex investors could undoubtedly see that market activity is printing all over mix swings. Upcoming near term direction of the market looks ambiguous and we could expect USDJPY to hit buy zone or sell zone.

 

Zig Zag pattern has appeared in intraday chart. Solid long area is available at 107.83 value level and solid short area is available at 108.35, in light of latest swing high and swing low in 15 minutes time span of USDJPY. With reference to the sideways pattern, currency traders ought to consider no sell and no buy trades. In any case; a bullish break out in market activity above 108.35 buyer area or a bearish break down in price activity beneath 107.38, helps to bring a new trend in market. In this way, in view of the present market circumstance, abstain from buying and selling USDJPY and simply keep re-investigating the market development.

USDJPY Forex Analysis

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June 5th, 2019 @ 6:10 am by Muhammad Azeem

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The GBPUSD attempted to retreat higher yesterday bottomed at 1.2641 but further down side movement was rejected and closed higher at 1.2695. The today’s market bias is bullish in the near term and Forex traders should consider buy trades. As you can notice my short term view pose no potential threat to the bullish bias with a break back above 1.2720 target not only expose 1.2700 region but would bring the major bullish fashion back in play.

 

After an impulse wave pattern, market broke the Tuesday’s high of the day in 15 minutes chart.  Market has represented a rejection and short term low of the day is present at 1.2641. Vice versa to the down side, a break below 1.2641 barrier would nullify the bullish trend scenario and stimulate lower movement towards 1.2600 even reopen the path to 1.2590 and 1.2580. In such a market scenario, it would be best not to trade the market and re-analyze the GBPUSD 15 minutes time frame.

GBPUSD Forex Analysis

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June 5th, 2019 @ 6:10 am by Muhammad Azeem

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With a strong sideways market, the price of EURUSD Spot Forex pair is moving nowhere and Forex traders could easily notice that price action is printing up and down swings, meaning no trading chances for the day.

 

Multiple bullish and bearish legs could be seen in EURUSD price action and market could hit a support area or a resistance level and the price direction looks unclear. Price action is stepping down and stepping up, looks like a Zig Zag pattern in both directions. Strong resistance is present at 1.1276 price level and strong support is present at 1.1226, based on most recent swing high and swing low in 15 minutes time frame of EURUSD. However; a clear bullish break out in price action above 1.1276 resistance area or a bearish break down in price action below 1.1226 support area will kick start the new trend. So, based on today’s market situation, avoid buying and selling EURUSD and just keep re-analyzing the price movement.

EURUSD Forex Analysis

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