Gold and Forex Market moving between the channel ranges

Gold

Gold is still moving in a range between the uptrend line. wait for a breakout.

Gold is still moving in a range between the uptrend line. wait for breakout.

Gold prices remain higher as Yesterday US CPI report came in higher numbers.

Gold prices go for a good correction

Consumption of Gold is medium in June month, but Prices are Varying according to Inflation rates higher, not by demand created.

FED monetary policy meeting next week will decide another breakout for Gold or Consolidation move.

And the US lifts some sanctions on Iran deals; due to this, Supply from Iran Oil will come to market and reduced the Price surges of the Oil market.

USD

EURUSD is moving in a descending channel forming lower highs and lower lows..

EURUSD is moving in a descending channel forming lower highs and lower lows

USDJPY is bouncing back harder after hitting the higher low level of an Uptrend line.

USDJPY is bouncing back harder after hittin the higher low level of an Uptrend line.

Yesterday US Inflation CPI rate came at 5.0% is a rise in the biggest in 13 years in the US economy.

when US inflation at expected rate

But FED keeps cool on monetary policy settings, and Interest rates higher is transitory all we know.

US Dollar seems a muted reaction to higher inflation, and gold prices were ticked higher as perfect hedging to Rising inflation rates.

10-year yield rates subtracted to the inflation rate as a result-3.5% came shows Inflation rate keeps control of the economy.

By Considering the above situation, FED will hike the rate only when the Inflation rate came down to control of real interest rates.

EUR

EURGBP is still moving between these descending Triangle pattern, wait for the breakout from this pattern to catch the big move on EURGBP.

EURGBP is still moving between these descending Triangle pattern wait for the breakout from this pattern to catch the big move on EURGBP

EURAUD formed a double bottom in the 1-hour timeframe chart.

EURAUD formed a double bottom in the 1 hour timeframe chart

EURUSD saw a Flat price movement after the ECB meeting happened Last day. ECB Lagarde said there is no room for tapering assets and increasing purchasing assets above the First quarter of 2021.

EU central bank president Lagarde

Due to this, EUR may suffer some losses for Higher purchases, and inflation seems lower than the 2% target in the Eurozone.

And in the upcoming ECB meeting next month, we may expect some tapering assets speech based on Domestic data performed in Eurozone.

US Dollar moved into the rangebound market as the US Core CPI inflation rate higher.

GBP

GBPUSD is moving up and down between the resistance and support level.

GBPUSD is moving up and down between the resistance and support level

GBPJPY is moving in a descending channel and it’s consolidating now at the lower high zone.

GBPJPY is moving in a descending channel and its consolidating now at the lower high zone

The monthly UK GDP report shows the economy expanded by 2.3% in April against a growth of 2.4%.

And this reading is better than March month printed at 2.1%. April month, UK industrial sector remains dull, and manufacturing dropped to -0.3% MoM and Industrial Output came at -1.3%.

UK economy Domestic data of UK Performed well

UK Domestic data proved good report for Further expansion of GDP data in UK Zone.

GBPUSD rise by 0.50% from 1.40 to 1.41700 level in the last 2 days after a report published.

CAD

AUDCAD is consolidating after the breakout of the descending channel.

AUDCAD is consolidating after the breakout of the descending channel

Canadian Dollar moves down from 91-90.500 as the range-bound market plays as Oil market gives consolidation.

Crude oil rises 33% in a day. Brent oil made a historical gain record in a day.
Crude oil rises 33% in a day. Brent oil made a historical gain record in a day.

As US Lifts some sanctions on Iran, may fear of Supply increases come from the Iran side, and Oil prices controlled to the Normal level.

And Bank of Canada patiently waits for Another meeting for further tapering purchases and Hike rates before the US.

Commodity prices like Iron ore and Copper push commodity currencies like AUD, NZD, and CAD.

And US Dollar weakness now goes in correction may see in USD moves to 1.21 level from 1.20 level.

JPY

AUDJPY is consolidating at the higher low level of an Uptrend line.

AUDJPY is consolidating at the higher low level of an Uptrend line

Japanese Yen made higher as the Japanese Government agreed to put more stimulus on the economy to retrieved from crisis level.

Japanese Currency gets weaker among G10 Peers

UK PM Johnson terms Joe Biden takes a long breath before talking of Brexit deal.

Like the UK, the EU already agreed on overfishing contracts in the Brexit deal; Britain will accept the Northern Ireland issue and helps to join hands with the EU and Northern Ireland to smooth the Brexit deal issue.

A G7 meeting is mainly for punishing China for Spreading Covid-19 is under rumour says, but there are talks between US and UK and finalized to give 50 million doses for All parts of World.

AUD

AUDUSD is ranging up and down between the specific prices.

AUDUSD is ranging up and down between the specific prices

Australian Dollar jumps to 0.20% as Core inflation expectation rose to 4.4% from 3.5 in the previous month.

Rising Commodity prices like Copper, Iron ore and lumber made factory production gate prices higher at Global levels.

Iron ore prices surge

Australian Dollar gains may be possible if rising inflation rates continue in the market.

China has a non-smooth relationship with Australia, Australian PM Scott Morrison continuously blames Covid-19 spread issues linked with China.

NZD

New Zealand Dollar Quite higher after the Disappointment of ECB and US inflation rates higher.

New Zealand Dollar remains higher

ECB has forecast the GDP growth to attain 4.6% this year and 4.7% in 2022, and Inflation may rise to 1.9% in 2021 and 1.5% in 2022.

EU and UK made a G7 meeting for compromising on Brexit deal issue.

UK and US joined hands for investigation on China overspread of Covid-19 is keeps rumours on news media.

CHF

US Dollar slid to 0.89500 last day as US CPI inflation data came higher tone and Swiss Franc increased this week as US Dollar performing weakness tone.

Swiss Franc remains ultrasafe haven

Employment rate and business confidence numbers in Switzerland in Medium numbers, SNB takes out more actions to retrieve economy from Crisis level.

US Dollar demand is slightly sliding as Inflation moves out of control, and currency is weakening as the Inflation rate moves higher in one nation.

Don't trade all time, Trade Forex only at Confirmed Setup

X