Intraday Analysis for EURUSD, GBPUSD, USDJPY and XAUUSD, June 17, 2020

by Jun 17, 2020Setups

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EURUSD Outlook

EURUSD Yesterday’s chart analysis

EURUSD have made a pullback as was discussed yesterday, but it did not pull back to $1.12806 as was said. The price pulled back down to $1.12366, a strong support that pushed the price up on Monday.

Entry point from yesterday did not materialize because there were no bullish price action signal.

On the resistance level, at $1.13427, we had two indecision candles that shows fight between bulls and bears. If you take a look into H1 time frame you will see bearish engulfing candle that was a sign of bearish power. After that candle the price have move down.

EURUSD daily analysis_17062020

EURUSD Chart Forecast

Uptrend support line and horizontal support line that forms confluence level at $1.12366, pushed the price up. It seems that that support level is holding and we need more bears to push the price bellow.

The price did not close on H4 below uptrend line which means trend line is still valid and bulls are holding.

After large bearish candle we have two indecision candles.

Entry EURUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

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GBPUSD Outlook

GBPUSD Yesterday’s chart analysis

GBPUSD did not manage to hold the price above key support level $1.26228. We did not see any bullish price action signal when the price reached $1.26228 so there was no entry signal.

The price fall down below $1.26228 and for now is on the small support level. If we take a look on the D1 time frame we see bearish Pinbar. And the Pinbar is pointing down right on the strong resistance level.

GBPUSD daily analysis_17062020

GBPUSD Chart Forecast

While the price is below $1.26228 which tells me bears are stronger, and we have daily bearish Pinbar, the price could move down. We could see pullback to $1.26228 and bearish price action signal as a confirmation that we will see price down.

Entry GBPUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips GBPUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: GBP/USD Pip Range Analysis

USDJPY Outlook

USDJPY Yesterday’s chart analysis

USDJPY is still in the fight between bulls and bears. The price could not manage to break in any way. It has stuck in 40 pip range and no one could make a strong push to point the price down or up.

USDJPY daily analysis_17062020

USDJPY Chart Forecast

The price is below previous range area, but above strong support level at 107.00. There is no clear signal where the price could move in the next trading session. These situations require patience and move out from the market in order to save the money.

We should see the price breaking above or below key levels in order to make a trading decision. For now, it is the best to stay out and wait.

Entry USDJPY: If you want to see how to play this scenario join G-Trader

If you want to know how much pips USDJPY moves each day in a week or how much it moves on London or New York trading session, you should check this article: USD/JPY Pip Range Analysis

Trading Analysis Bonus

As a bonus I am sending entry ideas.

ONLY for G-Trader members.

XAUUSD Outlook

XAUUSD Yesterday’s chart analysis

The XAUUSD yesterday have moved almost as predicted in the yesterday’s analysis. The price have made a pullback to $1725.11. There was a bullish Pinbar on H1 time frame that was a nice entry point.

There are several bullish Pinbar’s that holds the price above. Even they do not look like a perfect Pinbar, I am counting on them.

A pullback that has moved the price down to $1716.74 did not manage to hold the price down. Bulls have pushed the price back and for now the price is above key level, $1725.11.

XAUUSD daily analysis_17062020

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XAUUSD Chart Forecast

The price is now in the indecision area where bulls or bears cannot push the price in their direction. While the price is above key level and above trend line I am bullish until the price change the direction and close below $1712.64.

For the entry level I would wait until the price make a move and make a bullish price action signal. The price action signal should be around support level.

Entry XAUUSD: If you want to see how to play this scenario join G-Trader

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The market is not easily predictable and we need to prepare our self for bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners.

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