Daily technical analysis 6/4/2024

Finance and economics explained simply
Daily technical analysis 6/4/2024

EUR/USD

The euro dollar is falling this morning and is trading at $1.0890, by 0.13%. Technically: The euro rose from the fulcrum area at 1.08372, penetrated the first resistance area, and recorded the highest high at $1.09160, and then fell. Among the expected scenarios is a continuation of the decline by targeting and testing the first resistance area and then the fulcrum. The alternative scenario is retesting the resistance area and failing to break the area and resuming the rise by targeting the second resistance area.

Upcoming news that may affect the movement of the euro dollar:

  • America: Job opportunities for April 18:00

Second resistance area

1.09256 - 1.09378

First resistance area

1.08700 - 1.08843

fulcrum

1.08372

First support area

1.08017-1.0795

Second support area

1.07486 - 1.07422

GBP/USD

The British pound falls against the US dollar with the opening of the markets after arriving at the third resistance area, which in turn is being tested as to whether it is an area that should be taken into consideration as a region, and it is currently trading at 1.2789. From a technical standpoint: The pound may return to the second resistance area to retest the area. If it passes and closes below the area, it will open for further decline to return to the first resistance area. In the event of failure, we may witness a rise that may reach the resistance area of ​​the four-hour time frame.

Upcoming news that may affect the pair’s movement:

  • America: Job opportunities for April 18:00

Second resistance area

1.25423 - 1.25282

First resistance area

1.24750 - 1.24554

fulcrum

1.23827

First support area

1.23093 - 1.22931

Second support area

1.22089 - 1.21847

USD/JPY

The dollar and the yen have been falling since yesterday. It is currently trading at levels of 155.69. From a technical standpoint: The dollar and the yen fell to the second resistance area, broke it, retested the area and failed to stabilize above it, and continued to fall, targeting the first resistance area. Among the possible scenarios: a continuation of the decline, targeting the fulcrum area, and the alternative scenario is a rebound from the first resistance area and a return. To target the second resistance area

Upcoming news that may affect the pair’s movement:

  • America: Job opportunities for April 18:00

Second resistance area

156.341 - 156.260

First resistance area

155.406 - 155.343

fulcrum

154.394

First support area

152.846 - 155.741

Second support area

151.681 - 151.639

AUD/USD

The Euro/Dollar is falling this morning and is trading at $1.0843, by 0.12%. Technically: The euro rose from the fulcrum area at 1.08372 and reached the first resistance area and failed to break the area. Among the expected scenarios is the price rebounding from the resistance area levels and targeting the fulcrum area and then the first initial support area. The alternative scenario is a continuation of the rise to the second resistance area.

Upcoming news that may affect the husband:

  • America: Job opportunities for April 18:00

Second resistance area

0.66143 - 0.66231

First resistance area

0.65663 - 0.65783

fulcrum

0.65217

First support area

0.63154 - 0.63609

Second support area

0.60219 – 0.59604

USOIL

Oil prices have been somewhat stable since a day ago and broke the fulcrum area and is seeking to reach the first support area. This morning, oil fell by 0.33% since this morning and is currently trading at $77.12 per barrel. From a technical point of view, oil fell to the focus area, and currently, the rebound to the first resistance area, and the alternative scenario is reaching the first support area.

Upcoming news that may affect the pair’s movement:

Second resistance area

81.71 - 82.00

First resistance area

79.08 - 79.38

fulcrum

77.47

First support area

75.20 - 75.67

Second support area

73.13 - 73.62

XAU/USD

Gold rose yesterday and fell with the Asian session this morning, and is currently trading at levels of $2342.16 per ounce. From a technical standpoint, we note that the price respects the regions. But the pressure from sellers was stronger. Possible scenarios include: After gold returns to the second support area, we notice the price rebounding from it. In this case, either the decline continues by targeting the third support area, and the alternative scenario is to test the second area again, break it, and continue the rise by targeting the first support area.

Upcoming news that may affect the movement of gold:

  • America: Job opportunities for April 18:00

Second resistance area

2451.17 - 2446.43

First resistance area

2408 - 2413.10

fulcrum

2394.35

First support area

2377.35 - 2372.87

Second support area

2355.59 - 2350.21

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