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04.06.2020

EUR/USD: wave analysis

The pair may grow.

On the H4 chart, the development of the downward correction of the higher level as wave (2) has completed and the formation of wave (3) has begun, which includes the development of wave 1 of (3). At the moment, the third wave of the lower level iii of 1 is forming, as part of which wave (iii) of iii is developing. If the assumption is right, the growth of the pair will continue to the levels of 1.1350–1.1490. The level of 1.1109 is critical and stop-loss for this scenario.

Consumer Price Index. Switzerland, 08:30 (GMT+2)

At 08:30 (GMT+2), Swiss data on the Consumer Price Index for May will be released. It is the main indicator of inflation in the country and determines the change in the level of retail prices for a particular basket of goods and services: food, transportation, utilities, healthcare, etc. It has a significant impact on monetary policy decisions. It is expected that the Consumer Price Index on an annualized basis will decrease from –1.1% to –1.3%, and on a monthly basis it is expected to grow from –0.4% to 0.1%.

Retail Sales. Australia, 03:30 (GMT+2)

Australian Retail Sales data for April are due at 03:30 (GMT+2). Retail Sales indicator measures the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It is the primary indicator of consumer spending, which influences the GDP. Sales in April are expected to decline sharply by 17.9%, after rising by 8.5% a month earlier. The implementation of the forecast could put pressure on AUD.

GBP/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (136.01). One of the previous maximums of Chikou Span line is expected to be a resistance level (139.12).

AUD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (74.74). One of the previous maximums of Chikou Span line is expected to be a resistance level (77.19).

CAD/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (0.7071). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.7284).

03.06.2020

CAD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (80.20). One of the previous maximums of Chikou Span line is expected to be a resistance level (82.00).

EUR/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.7100). The closest resistance level is Tenkan-sen line (1.7573).

EUR/NZD: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.7300). The closest resistance level is Tenkan-sen line (1.7680).