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GBP/JPY is expected to move higher and continue the rebound . The pair bounced off its support at 122.35 last night, and is expected to post a new rebound. As both the 20-period and 50-period moving averages are turning up, they should continue to push the prices higher. In addition, the nearest support at 123.10 should also limit any downward attempts. The relative strength index is bullish and calls for further upside.

Hence, as long as 141.00 is support, we expect for an advance to 142.75 and 143.35 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 141.00 with targets at 142.75 and 141.80.

Chart Explanation: The black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 141.00, Take Profit: 142.75

Resistance levels: 142.75, 143.35, and 144.00

Support levels: 140.35,139.85, and 139

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

Recently, the GBP/USD pair has been trading sideways at the price of 1.2770 According to the 15M time frame, I found a big buying climax in the background and a broken symmetrical triangle, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2730 and 1.2700.

Resistance levels:

R1: 1.2785

R2: 1.2800

R3: 1.2810

Support levels:

S1: 1.2760

S2: 1.2750

S3: 1.2735

Trading recommendations for today: watch for potential selling opportunities.

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

NZD/USD is expected to trade with a bullish bias above 0.7185. The pair is holding firmly above its key support at 1.3225, and may post some consolidations before a further advance. The process of higher highs and lows remains intact on the prices, which should confirm a positive outlook. Besides, the relative strength index lacks downward momentum.

Hence, as long as 0.715 is not broken, look for a limited consolidation before a new rise to 0.7280 and 0.7300 in extension.

Strategy: BUY at dips, Stop Loss: 0.7185, Take Profit: 0.7280

Chart Explanation: The black line shows the pivot point; the present price above pivot point indicates the bullish position and below pivot points indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7280, 0.7300, and 0.7345

Support levels: 0.7160, 0.7125, and 0.7100

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

Recently, the EUR/USD pair has been trading sideways at the price of 1.1174. According to the 5M time frame, I found a broken upward trendline and broken H3 (Camarilla resistance), which is a sign that buying looks risky. My advice is to watch for selling opporutntiies. The downward target is set at the price of 1.1120.

Resistance levels:

R1: 1.1175

R2: 1.1185

R3: 1.1200

Support levels:

S1: 1.1145

S2: 1.1130

S3: 1.1115

Trading recommendations for today: watch for potential selling opportunities.

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

Worldwide macro summary for 16/06/2017: The Bank of England decided to leave the interest rate the same at the level of 0.25% as expected, however MPC vote was a surprise. The Monetary Policy Committee was expected to vote 7-1 as usual, but the vote was 5-3 as 2 more policy members, Saunders and McCafferty, sign up with Forbes in requiring a rate walking. The asset purchase targets were the same: prior possession purchase target was 435billion and prior corporate bond purchase target was 1billion.

In the Monetary Policy Summary we can check out that all MPC agree any rate increase should be progressive and restricted. The CPI inflation might exceed 3% by autumn 2017 and the sterling’s fall given that the May inflation report will add to this if fall is sustained. The BoE’s tolerance of the above-target CPI is being eroded as strong employment growth might suggest spare capacity. The UK wage development remains weak even relative to historic standards, so it can further slow the customer costs. At the end, the BoE revised Q1 GDP growth to +0.3%, and Q2 to +0.4%.

In conclusion, market individual were shocked by the ballot outcomes (there hasn’t been a split like 5-3 considering that 2011) and hawkish tone of the policy summary. There was a talk of more QE or a rate trek in the future, but the BoE is headed in the other direction despite political uncertainty. The Brexit negotiations will begin on Monday, 19th of June. It appears like the BoE is seeing things in a different way than the markets and isn’t really sure what’s occurring in the economy or exactly what will be the result of the settlements, even if it will agree with for the UK.

Let’s now take a look at the GBP/USD technical image on the H4 timeframe. The cable leapt right after the press release, however then slowly gave up all the gains. Presently, it is trading in the middle of the range in a sideways cost action pattern. The next technical resistance is seen at the level of 1.2818 and the next support lies at 1.2690.

The product has been supplied by InstaForex Business – www.instaforex.com

Trading plan for 16/06/2017: Bank of Japan left the monetary policy specifications unchanged while inflation expectations stay weak despite enhancing financial conditions. As an outcome, JPY is the weakest currency from the G10 basket and is the only one losing to the dollar. The greatest are risky currencies – AUD (+0.15%), GBP, and NZD (+ 0.1%). The United States dollar is picking up speed throughout the board again.On Friday

16th of June, the occasion calendar is hectic with essential financial news. Eurozone will reveal the Customer Cost Index, Russia will provide Key Bank Rate decision, and Canada will post Foreign Securities Purchases. The US will release Structure Permits, Real estate Begins, and Michigan Customer Sentiment Index.EUR/ USD analysis for 16/06/2017:

The Consumer Rate Index information are scheduled for release at 09:00 am GMT and market individuals anticipate no change here, so the 1.4% annual infaltion boost must stay in place. In April, the increase was much greater at 1.9%, which some commentators incorrectly interpreted to imply that the European Reserve bank is close to its inflation target of 2%. Low inflation readings, in addition to the moderate and decreasing inflation outlook, will basically keep the ECB from too-hawkish statements in the future. Regardless of an absence of changes in ECB financial policy, the inflation is not rising quickly enough in the Eurozone and recent dovish remarks from ECB President Mario Draghi still support the view of wait-and-see technique implemented by ECB. Additionally, the FED hawkish remarks today may suggest the EUR/USD pair will face more selling pressure in the near future as United States policymakers have actually accepted deliver a minimum of one more hike this year.Let’s now take a look at the EUR/USD technical photo on the H4 amount of time. The marketplace is too weak to rally above the golden trend line resistnace, so a failure is expected around the level of 1.1200 once again, even if today’s information will be better than expected. The market conditions are starting to look oversold and the momentum indicator is still hovering listed below the fifty level, so the price action at the end of the week need to stay sideways. The closest technical support is seen at the level of 1.1130 – 1.1108 and the next technical resistance is seen at the level of 1.1236.

Market Picture: Crude Oil trades below

78% Fibo level The prices of Crude Oil degraded below the 78%Fibo and now are trading just above the last Might’s low at the level of $43.74. All of the attempts to rally higher resulted only in a phony breakout above the navy pattern line and after that the price made new lows. The marketplace conditions remain oversold, however the momentum indicator is still hovering below the fifty level, so no bullish pressure is present at the moment. The next technical resistance is seen at the level of $45.21.

Market Picture: AUD/USD under an increasing selling pressure

On the daily time frame chart of AUD/USD, selling pressure (gray rectangle) around the 61%Fibo level can be seen, however the pair is still attempting to break out above the technical resistance at the level of 0.7636. The market conditions look overbought, so a restorative relocate to the downside can occur anytime now. The next technical support is seen at the level of 0.7568

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

NZD/USD has been in a bullish non-volatile trend since the break above 0.7050 resistance level. Currently the price is showing some volatility in the market on the back of recent economic reports from the US and New Zealand. New Zealand published the GDP report at 0.5% which was better than previous value of 0.4% but worse than expected value of 0.7% which affected the NZD negatively yesterday. Moreover, the Fed rate hike decision provided some positive gains on USD side which currently paused the NZD bullish trend. Today NZ Business Manufacturing Index was published which showed a rise to 58.5 from 56.9 previously and the news helped NZD to make some gains today. The United States will unveil the Building Permits report which is expected to increase to 1.25M from 1.23M previously. The Housing Starts report is also expected to show a rise to 1.23M from 1.17M. As the high impact US reports are to be published, a good amount of volatility is expected to hit the market today where positive USD reports may lead to counter trend move in this pair in the coming days.

Now let us look at the technical view. The price has moved in a non-volatile way since the break above the resistance at 0.7050. There have been very little retracements in the trend so far which has taken the price quite far from the dynamic level of 20 EMA. As of the recent bearish price action, currently the pair is expected to retrace back to 20 EMA. If 20 EMA is breached below, then the price may fall to 0.7050 level to retest it as a support before proceeding further upward. The bias is currently bullish in this pair until the price breaks below 0.7050 with a daily close.

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

AUD/JPY is currently in an impulsive bullish run after the positive economic report published yesterday. The Australian Employment Change report was published with a better than expected result at 42.0k versus the forecast of 9.7k. Moreover, the unemployment rate decreased to 5.5% which was expected to be unchanged at 5.7%. With the positive employment reports, AUD got a massive boost against JPY yesterday which can still be observed. Today the Bank of Japan revealed its policy statement, leaving the rate unchanged. As the short-term interest rate is one of the key factors for currency valuation, this news could not provide much support to the Japanese currency to compete against the aussie. As of the current fundamental situation, AUD is expected to dominate over JPY in the coming days.

Now let us look at the technical view. The price is currently at the edge of the resistance level of 84.50. If it breaks above the level with a daily close today then we will be looking forward to buy with a target towards 86.20. As the market has already shown a good amount of exhaustion recently, further bullish move is expected in this pair. The bullish bias is expected to continue until price breaks below 83.00 with a daily close.

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

Slovakia Apr New Industrial Orders -7.3% On Month, -6.9% On Year

The material has actually been offered by InstaForex Business – www.instaforex.com