Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
The month of May, as you can see, recovered off worst levels out of demand from 1.0488/1.0912 and closed firm.
June extended gains to highs at 1.1422 and finished adding 1.19%, despite running into opposition at the lower ledge of...
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 and long-term trendline resistance (1.7191) remains clear structure on the monthly timeframe at the moment, with the latter prompting a notable upper shadow in June.
Concerning the primary trend, lower...
AUD/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension, together with June’s follow-through, has supply at 0.7029/0.6664 echoing a vulnerable tone in early July, particularly as an intersecting long-term trendline resistance (1.0582) shows signs of giving way....
EUR/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
The month of May, as you can see, recovered off worst levels out of demand from 1.0488/1.0912 and closed firm.
June extended gains to highs at 1.1422 and finished adding 1.19%, despite running into opposition at the lower...
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension, together with June’s follow-through, has supply at 0.7029/0.6664 echoing a vulnerable tone in early July, particularly as an intersecting long-term trendline resistance (1.0582) shows signs of giving way....
USD/JPY:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Since kicking off 2017, USD/JPY has been busy carving out a descending triangle pattern between 118.66/104.62.
April and May were pretty uneventful, with June also wrapping up indecisively in the shape of a neutral doji...
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 and long-term trendline resistance (1.7191) remains clear structure on the monthly timeframe at the moment, with the latter prompting a notable upper shadow in June.
Concerning the primary trend, lower...
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension, together with June’s follow-through, has supply at 0.7029/0.6664 echoing a vulnerable tone at the moment, particularly as an intersecting long-term trendline resistance (1.0582) shows signs of giving way....
The recovery from daily support at 95.84 and daily AB=CD pattern completion at 96.16 (the latter is regarded as a basic bullish configuration among harmonic traders) has placed price action within close proximity to daily supply at 98.18/98.65. Traders will also note the recovery is establishing what appears to be a bear flag between 95.72/97.45.
98.18/98.65...
GBP/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 and long-term trendline resistance (1.7191) remain clear structure on the monthly timeframe, with the latter prompting a notable upper shadow in June.
Concerning the primary trend, lower peaks...
AUD/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension, as well as June’s follow-through, has supply at 0.7029/0.6664 echoing a vulnerable tone at the moment, particularly as intersecting long-term trendline resistance (1.0582) shows signs of giving way....
EUR/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May, as you can see, recovered off worst levels out of demand from 1.0488/1.0912.
June extended gains to highs at 1.1422, though mid-month ran into opposition at the lower ledge of supply from 1.1857/1.1352 (unites with...
GBP/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 and long-term trendline resistance (1.7191) remain clear structure on the monthly timeframe, with the latter prompting a notable upper shadow in June.
Concerning the primary trend, lower peaks...
USD/JPY:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Since kicking off 2017, USD/JPY has been busy carving out a descending triangle pattern between 118.66/104.62.
April and May were pretty uneventful, with June also wrapping up indecisively in the shape of a doji...
AUD/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension, as well as June’s follow-through, has supply at 0.7029/0.6664 echoing a vulnerable tone at the moment, particularly as long-term trendline resistance (1.0582) shows signs of giving way.
Regarding the...
EUR/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May, as you can see, recovered off worst levels out of demand from 1.0488/1.0912.
June extended gains to highs at 1.1422, though mid-month ran into opposition at the lower ledge of supply from 1.1857/1.1352 (unites with...
GBP/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 and long-term trendline resistance (1.7191) remain clear structure on the monthly timeframe, with the latter prompting a notable upper shadow in June, shaped by way of a shooting star candlestick...
USD/JPY:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Since kicking off 2017, USD/JPY has been busy carving out a descending triangle pattern between 118.66/104.62.
The month of March concluded by way of a long-legged doji candlestick pattern, ranging between...
