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June 4th, 2019 @ 5:57 am by Muhammad Azeem

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Intraday bias in USDCHF remains on the down side for the moment and traders should consider only shot trades and no trade against the current USDCHF bearish trend. Technically; bearish trend could take price action towards next target at 0.9905.

 

Vital area for sellers is present at 0.9998, based on most recent swing high in fifteen minutes chart of USDCHF. However, a clear bullish break out in price action above 0.9998 vital resistance area will end bearish momentum. Henceforth, currency traders may jump at the chance to stay out of market and re-inspect USDCHF Spot Forex pair.

USDCHF Forex Analysis

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June 4th, 2019 @ 5:56 am by Muhammad Azeem

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Bearish collapse in price action could be seen in Friday’s trading session to a fresh new low in USDJPY 15 minutes chart. An upside retracement in price action should be consider as a good opportunity to sell the rally, which is probably a good idea to do in a down trending market environment. It looks quite obvious that sellers are in control of the market and aggressive selling could slide the market even below 107.80 target region.

 

A strong rejection of key resistance at 108.44 price level has been detected. However; a clear bullish break out above 108.44 key resistance level would neutralize the near term bearish trend. In this case, I would prefer to stay out of the market and re-analyze the price action.

USDJPY Forex Analysis

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June 4th, 2019 @ 5:56 am by Muhammad Azeem

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With a good momentum, the price of EURUSD 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 down towards 1.1268 price target area.

 

Multiple bullish legs pattern could be seen in EURUSD price action. Key support level is present at 1.1159 price level, based on most recent swing low in 15 minutes time frame of EURUSD. However, a clear bearish break down in price action below 1.1159 vital support area will end the up trend. In such type of Forex trading market situation, avoid buying and selling EURUSD and just keep re-analyzing the price movement.

EURUSD Forex Analysis

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June 4th, 2019 @ 5:56 am by Muhammad Azeem

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The GBPUSD attempted to retreat higher yesterday bottomed at 1.2609 but further down side movement was rejected and closed higher at 1.2662. 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 1.2700 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 Monday’s high of the day in 15 minutes chart.  Market has represented a rejection and short term low of the day is present at 1.2609. Vice versa to the down side, a break below 1.2609 barrier would nullify the bullish trend scenario and stimulate lower movement towards 1.2578 even reopen the path to 1.2568 and 1.2558. 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 3rd, 2019 @ 12:52 pm by Muhammad Azeem

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The GBPUSD attempted to retreat higher yesterday bottomed at 1.2591 but further down side movement was rejected and closed higher at 1.2627. 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 below pose no potential threat to the bullish bias with a break back above 1.2700 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 Friday’s high of the day in 15 minutes chart.  Market has represented a rejection and short term low of the day is present at 1.2591. Vice versa to the down side, a break below 1.2591 barrier would nullify the bullish trend scenario and stimulate lower movement towards 1.2575 even reopen the path to 1.2565 and 1.2550. 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 3rd, 2019 @ 12:52 pm by Muhammad Azeem

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Bearish collapse in price action could be seen in Friday’s trading session to a fresh new low in USDJPY 15 minutes chart. A upside retracement in price action should be consider as a good opportunity to sell the rally, which is probably a good idea to do in a down trending market environment. It looks quite obvious that sellers are in control of the market and aggressive selling could slide the market even below 108.00 target region.

 

A strong rejection of key resistance at 108.70 price level has been detected. However; a clear bullish break out above 108.70 key resistance level would neutralize the near term bearish trend. In this case, I would prefer to stay out of the market and re-analyze the price action.

USDJPY Forex Analysis

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June 3rd, 2019 @ 12:52 pm by Muhammad Azeem

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With a good momentum, the price of USDCHF Spot Forex pair is moving down and currency traders may attempt to look for a sell trading chance to join the down trend. Price action is stepping low and we expect market to keep falling down towards 0.9968 price target area.

 

Multiple bearish legs pattern could be seen in USDCHF price action. Key resistance level is present at 1.0017 price level, based on most recent swing high in 15 minutes time frame of USDCHF. However, a clear bullish break out in price action above 1.0017 vital resistance area will end the down trend. In such type of Forex trading market situation, avoid buying and selling USDCHF and just keep re-analyzing the price movement.

USDCHF Forex Analysis

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June 3rd, 2019 @ 12:50 pm by Muhammad Azeem

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Intraday bias in EURUSD remains on the up side for the moment and traders should consider only long trades and no trade against the current EURUSD bullish trend. Technically; bullish trend could take price action towards next target at 1.1200.

 

Vital area for buyers is present at 1.1136, based on most recent swing low in fifteen minutes chart of EURUSD. However, a clear bearish break down in price action below 1.1136 vital support area will end bullish momentum. Henceforth, currency traders may jump at the chance to stay out of market and re-inspect EURUSD Spot Forex pair.

EURUSD Forex Analysis

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