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Bitcoin has turned table around today after certain correction and volatility above $6,500 area recently. The price is currently staying at the edge of $6,000 support area after impulsive bearish pressure pushed the price lower with ease. Though the market sentiment was quite optimistic, sudden bearish pressure over Bitcoin led to a dramatic bearish momentum which is expected to extend further if we see a bearish bar after the daily close today. As for the current scenario, the price is expected to sink deeper towards $5,000 as predicted earlier by the statement of Willy Woo. As the price remains below $8,000 area, the bearish bias is expected to continue further.

The material has been provided by InstaForex Company – www.instaforex.com

Daily Outlook

In April 2018, the short-term outlook turned to become bearish when the EUR/USD pair maintained trading below the broken uptrend as well as the lower limit of the depicted consolidation range.

Bearish persistence below the price level of 1.2200 allowed further bearish decline towards the price levels of 1.1990 and 1.1880.

As mentioned, the price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established.

The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, further bearish momentum was expressed in the market.

The price zone (1.1850-1.1750) was considered a prominent Supply zone where bearish rejection and a valid SELL entry were offered last week. Bearish target around 1.1520 was already reached on Thursday.

On the other hand, the price zone of 1.1520-1.1420 was considered a prominent bullish demand where a valid bullish BUY entry was offered during this week’s consolidations. It’s already running in profits. Bullish target levels are located around 1.1650 and probably 1.1740.

However, a bearish breakdown below 1.1400 might occur if enough bearish pressure is applied. This can potentially enhance further bearish decline towards 1.1270 (recent consolidation range and demand level).

The material has been provided by InstaForex Company – www.instaforex.com

Since January, the price zone of 0.7320-0.7390 has been standing as a significant supply zone during recent bullish pullback. The bulls failed to execute a successful Bullish breakout above 0.7400 during previous consolidations.

The NZD/USD pair had been trapped between the price levels of 0.7170 and 0.7350 until the bearish breakdown of 0.7200 occurred.

Since April 13, significant bearish pressure has been applied. This probably turns the short-term outlook for the NZD/USD pair into bearish giving considerable significance to the multiple-top reversal pattern.

That’s why a bearish breakdown of 0.7220-0.7170 (neckline zone) was needed to confirm the depicted reversal pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already.

The bearish scenario needed obvious bearish persistence below 0.7050 to maintain significant bearish momentum towards 0.6860 and 0.6820. That’s why the price level of 0.7050 was considered a key-level for the NZD/USD bears.

As anticipated, the recent bullish pullback towards the price level of 0.7050 (Broken Demand-Level) offered a good opportunity for sellers to have a valid SELL entry. It’s already running in profits. S/L should be lowered to 0.6925 to secure some profits.

Currently, the price levels of 0.6820-0.6780 are the next destination for the NZD/USD pair to be reached. These price levels should be watched for bullish rejection and a target level for current sellers.

The material has been provided by InstaForex Company – www.instaforex.com

USD/CAD has been quite impulsive with the bullish gains after breaking above 1.3120 area with a daily close recently. USD has been dominating CAD for a few days since the US Fed Rate Hike to 2.00% from the previous value of 1.75%.

After a series of downbeat economic reports yesterday, today US Flash Manufacturing PMI report is going to be published which is expected to decrease to 56.3 from the previous figure of 56.4 and Flash Services PMI report is expected to decrease to 56.4 from the previous figure of 56.8.

On the other hand, today Canada’s CPI report is going to be published which is expected to increase to 0.4% from the previous value of 0.3%, Core Retail Sales is expected to increase to 0.5% from the previous value of -0.2%, and Retail Sales is expected to decrease to 0.0% from the previous value of 0.6%.

As for the current scenario, The pair is set to trade with higher volatility today as several macroeconomic reports are due in Canada. Though USD has been battered recently, any downbeat reading from Canada is expected to lead to further indecision and volatility in the pair. On the other hand, positive economic reports from Canada are expected to push the price lower in the short term.

Now let us look at the technical view. The price depends on the bearish momentum. So,it is expected to retrace towards 1.3120 area before bullish pressure comes back in the coming days. There has not been any bearish divergence in the daily chart right now, but certain hidden divergence effect can be observed that is expected to push the price lower for a while. As the price remains above 1.2900-50 area, the bullish bias is expected to continue further.

The material has been provided by InstaForex Company – www.instaforex.com

NZD/USD has been quite bearish till yesterday before it bounced off the 0.68 support area with a daily close. NZD has been dominated by USD in several ways, but after the recent rate hike from 1.75% to 2.00%, the USD gains were quite massive.

This week, NZD has been quite weak with the recently published economic reports including GDP decreasing to 0.5%, as expected, from the previous value of 0.6%, Current Account showing an increase to 0.18B from the previous negative value of -2.75B which was expected to be at 0.05B, and Westpac Consumer Sentiment report, published with a decrease to 108.6 from the previous figure of 111.2.

On the other hand, USD has been a bit weaker due to worse economic results published recently, after the rate hike phenomenon persisted in the market earlier. Today, USD Flash Manufacturing PMI report is going to be published which is expected to decrease to 56.3 from the previous figure of 56.4 and Flash Services PMI report is expected to decrease to 56.4 from the previous figure of 56.8.

As of the current scenario, NZD is expected to gain certain momentum over USD which is struggling to get over the worse economic reports and gain momentum. Though the long-term trend is still bearish, certain bullish momentum of NZD gains are expected to last for a shorter period resulting as retracement in the process.

On the technical view, the price has been forming certain Bullish Divergences recently, which is currently expected to cause certain bullish momentum in the pair leading the price towards the resistance in the 0.7150 area in the coming days. As the price remains above 0.68 with a daily close, the bullish momentum is expected to continue further.

The material has been provided by InstaForex Company – www.instaforex.com

Overview:

This week, the EUR/USD pair fell from the level of 1.1734 to bottom at 1.1543. It rebounded from the bottom to close at the price of 1.1642. The EUR/USD pair has faced strong support at the level of 1.1543. So, the strong support has been already faced at the level of 1.1543 and the pair is likely to try to approach it in order to test it again and form a double bottom. Hence, the EUR/USD pair is continuing to trade in a bullish trend from the new support level of 0.9660; to form a bullish channel. According to the previous events, we expect the pair to move between 1.1662 and 1.1543. Also, it should be noted that major resistance is seen at 1.1734, while immediate resistance is found at 1.1662. Then, we may anticipate potential testing of 1.1662 to take place soon. Moreover, if the pair succeeds in passing through the level of 1.1662, the market will indicate a bullish opportunity above the level of 1.1617. A breakout of that target will move the pair further upwards to 1.1662. Buy orders are recommended above the area of 1.1617 with the first target at the level of 1.1662 and continue towards 1.1698. On the other hand, if the EUR/USD pair fails to break out through the resistance level of 1.1662; the market will decline further to the level of 1.1489.

The material has been provided by InstaForex Company – www.instaforex.com

Global macro summary for 22/06/2018: The Bank of England leaves the rates unchanged, however pressure to trek increases.The crucial interest

USD is continuing a landslide, started on Thursday afternoon, although the modifications during the night are little. Favorable info about the US-China trade conflict is assisting currencies, but Asian stock markets are down on Wall Street. Uneasiness does not leave the oil market prior to the OPEC summit.An unexpected retreat from USD from Thursday today has its light extension. NZD, NOK and SEK carry out best. EUR/ USD exceeds 1.1630

, GBP/ USD continues to rebound to 1.3270 indirectly with the aid of the hawkish tone of Thursday’s BoE decision.The stock market in Asia dropped to 6-month lows following the Thursday’s sell-off on Wall Street. Japanese Nikkei225 is losing 0.7 %, but the Chinese Shanghai Composite handled to eventually ride towards the neutral 0.0% level under the influence of details about possible USD-China negotiations.On Friday 22nd of June, the event calendar is hectic with crucial data releases. During the London session, the PMI Production, Solutions and Composite data will be releases from France, Germany and Eurozone. During the New York session, Canada will post Retail Sales and Customer Price Index information and the US will provide ISM Production data, Composite PMI information and Final Solutions PMI data.USD/ JPY analysis for 22/06/2018: The United States information turned out to be weaker than expected, however still solid. The worths of the Fed’s Philadelphia Index turned out to be weaker than anticipated. The index level in the processing sector was 19.9 points. The figures amazed the financial experts who forecast 34.3 points. The rate level come by over 3 points, from 36.4 last month to 33.2 points in June. Joblessness in the US fell by 3,000, to 218,000 against the projection of 220,000. Friday is the day of releasing PMI information from the service and industrial sectors. Forecasts on the worth of indications from France, Germany, the Eurozone and the US do not vary much from the figures got last month, so their effect on the marketplace behavior may be limited unless there is a huge surprise in either

direction. Let’s now take a look at the USD/JPY technical image at the H4 time frame. The marketplace has failed to rally above the technical resistance at the level of 110.76 and fell down to the level of 109.83, which is now an intraday support. The momentum remains weak and the RSI sign points to the south once again, so

any offense of the level of 109.83 would cause another slide towards the essential technical support at the level of 109.54. The material has been supplied by InstaForex Business-www.instaforex.com

Dear colleagues.

For the EUR / USD pair, the price forms the potential for the top of June 21 in correction from the downward trend. For the GBP / USD pair, the price forms the initial conditions for the top of June 21. For the USD / CHF pair, the price is close to lifting the upward structure, which requires a breakdown of 0.9890. For the USD / JPY pair, the price is in correction. The level of 109.46 is the key support. For the EUR / JPY pair, we follow the development of the downward structure from June 13. At the moment, the price is in correction. For the GBP / JPY pair, the noise range of 146.20 – 146.58 is the key support for the downward structure from June 7.

Forecast for June 22:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1683, 1.1640, 1.1611, 1.1542, 1.1511, 1.1491 and 1.1451. Here, the key goals remain unchanged but it is necessary to note the formation of the potential for the top of June 21 in correction from the downward structure. The continuation of the downward movement is expected after the breakdown of 1.1542. In this case, the target is 1.1511. In the area of 1.1511 – 1.1491 is the consolidation of the price. The potential value for the bottom is the level of 1.1451. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement, as well as consolidation are possible in the area of 1.1611 – 1.1640. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1683. This level is the key support for the downward movement.

The main trend is the downward cycle from June 7, the stage of deep correction.

Trading recommendations:

Buy: 1.1611 Take profit: 1.1638

Buy 1.1641 Take profit: 1.1680

Sell: 1.1540 Take profit: 1.1511

Sell: 1.1490 Take profit: 1.1453

For the GBP / USD pair, the key levels on the scale of H1 are 1.3441, 1.3395, 1.3326, 1.3281, 1.3225, 1.3191, 1.3143, 1.3097 and 1.3030. Here, the price forms an upward potential for the top of June 21. Short-term upward movement is expected in the area of 1.3281 – 1.3326. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.3395. We consider the level of 1.3441 to be a potential value for the upward trend, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3225 – 1.3191. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3143. This level is the key resistance for the bottom. Its breakdown will lead to movement towards the level of 1.3097. For the potential value for the bottom, consider the level of 1.3030.

The main trend is the formation of the potential for faiths from June 21.

Trading recommendations:

Buy: 1.3282 Take profit: 1.3324

Buy: 1.3328 Take profit: 1.3395

Sell: 1.3224 Take profit: 1.3192

Sell: 1.3188 Take profit: 1.3147

For the USD / CHF pair, the key levels on the scale of H1 are: 1.0092, 1.0048, 1.0025, 0.9990, 0.9963, 0.9890, 0.9863 and 0.9826. Here, we continue to follow the upward cycle from June 7. At the moment, the price is in correction and forms the potential for a downward movement from June 21. The continuation of the upward movement is expected after the breakdown of 0.9963. Here, the target is 0.9990. The breakdown of this level in turn will allow us to count on the movement of 1.0025. In the area of 1.0025 – 1.0048 is the consolidation of the price. The potential value for the top is the level of 1.0092. The movement towards this level is expected after the breakdown at 1.0050.

Short-term downward movement, as well as consolidation are possible in the area of 0.9890 – 0.9863. The breakdown of the latter value will lead to the development of the downward structure from June 21. In this case, the first potential target is 0.9826.

The main trend is the upward cycle from June 7, the correction stage.

Trading recommendations:

Buy: 0.9965 Take profit: 0.9990

Buy: 0.9992 Take profit: 1.0025

Sell: 0.9890 Take profit: 0.9866

Sell: 0.9860 Take profit: 0.9828

For the USD / JPY pair, the key levels on a scale are: 112.24, 111.90, 111.31, 110.92, 110.69, 110.15, 109.79, 109.46 and 108.91. Here, we continue to follow the formation of the local structure for the top of June 8. At the moment, the price is in correction. The continuation of the upward movement is expected after passing the price range of 110.69 – 110.92. In this case, the target is 111.31. We consider the level 112.24 to be a potential value for the top. After reaching this level, we expect consolidation in the area of 112.24 – 111.90.

Consolidated movement is expected in the range of 110.15 – 109.79. Short-term downward movement is possible in the area of 109.79 – 109.46. The breakdown of the latter value will lead to the development of a downward structure. Here, the potential target is 108.91.

The main trend is a local structure for the top of June 8.

Trading recommendations:

Buy: 110.92 Take profit: 111.30

Buy: 111.33 Take profit: 111.90

Sell: 109.76 Take profit: 109.48

Sell: 109.44 Take profit: 108.95

For the CAD / USD pair, the key levels on the H1 scale are: 1.3454, 1.3400, 1.3340, 1.3260, 1.3219, 1.3159 and 1.3116. Here, we follow the local upward structure of May 31. The continuation of the upward movement is expected after the breakdown of 1.3340. In this case, the target is 1.3400. Near this level is the consolidation of the price. The potential value for the top is the level of 1.3454. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3260 – 1.3219. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3160. The range of 1.3159 – 1.3116 is the key support for the top.

The main trend is the upward structure of May 31.

Trading recommendations:

Buy: 1.3340 Take profit: 1.3400

Buy: 1.3402 Take profit: 1.3452

Sell: 1.3260 Take profit: 1.3220

Sell: 1.3216 Take profit: 1.3160

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7569, 0.7512, 0.7440, 0.7400, 0.7322, 0.7262 and 0.7216. Here, we continue to follow the downward cycle from June 6. The continuation of the downward movement is expected after the breakdown of the level of 0.7322. Here, the target is 0.7262. In the area of 0.7262 – 0.7216 is the consolidation of the price and from here, we expect a key upward turn.

Short-term upward movement is possible in the area of 0.7400 – 0.7440. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7512. Initial conditions for the upward cycle is expected to reach 0.7569.

The main trend is the downward cycle from June 6.

Trading recommendations:

Buy: 0.7400 Take profit: 0.7440

Buy: 0.7442 Take profit: 0.7510

Sell: 0.7320 Take profit: 0.7264

Sell: 0.7260 Take profit: 0.7218

For the EUR / JPY pair, the key levels on the scale of H1 are: 129.52, 128.80, 127.80, 126.77, 126.18, 125.08 and 124.15. Here, we follow the development of the downward structure of June 13. Short-term downward movement is expected in the area of 126.77 – 126.18. The breakdown of the last value will lead to a movement towards the level of 125.08. Near this level is the consolidation of the price. The potential value for the bottom is level of 124.15. From this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 127.80 – 128.29. The breakdown of the last value will lead to in-depth correction. Here, the target is 128.80. This level is the key support for the downward structure from June 13. Its breakdown will lead to the development of an upward structure. In this case, the potential goal is 129.52.

The main trend is the downward structure of June 13.

Trading recommendations:

Buy: 127.80 Take profit: 128.25

Buy: 128.32 Take profit: 128.80

Sell: 126.75 Take profit: 126.20

Sell: 126.14 Take profit: 125.15

For the GBP / JPY pair, the key levels on the scale of H1 are: 146.58, 146.20, 145.66, 145.31, 144.47, 143.96, 143.16 and 142.69. Here, the price is at the stage of deep correction and is close to the lifting of the downward structure from June 7, which requires passing the price of the noise range 146.20 – 146.58. The continuation of the downward movement is expected after the breakdown of level 145.01. Here, the first target is 144.47. In the area of 144.47 – 143.96 is short-term downward movement, as well as is the consolidation of the price. The breakdown of 143.95 should be accompanied by a pronounced movement towards the level of 143.16. The potential value for the bottom is the level of 142.69. From this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 146.58 – 146.20. The breakdown of the latter value will lead to the development of an upward trend. Here, the potential target is 147.28. Near this level is the consolidation of the price.

The main trend is the downward cycle from June 7, the correction stage.

Trading recommendations:

Buy: 146.60 Take profit: 147.25

Buy: 147.32 Take profit: 148.10

Sell: 145.00 Take profit: 144.50

Sell: 144.41 Take profit: 144.00

The material has been provided by InstaForex Company – www.instaforex.com

Deutsche Bank will pay a fine of $203 million for controling exchange rates on the forex market.The monetary regulator of New york city has actually imposed a fine on Deutsche Bank – and the bank accepted pay a fine of $203 million.

The regulator implicated the bank of manipulating the rates and inflated spreads that traders and bank managers used against the interests of customers.

The case worried the period from 2007 to 2013, when Deutsche Bank was the largest trader in the forex market in the world.The product has actually been offered by InstaForex Company – www.instaforex.com