Daily technical analysis report 6/3/2024

Finance and economics explained simply
Daily technical analysis report 6/3/2024

EUR/USD

The euro dollar rose this morning and is trading at $1.0851, by 0.04%. Technically: The euro rose from the fulcrum area at 1.08372 and reached and rebounded from the first resistance area and failed to break the area. Among the expected scenarios is the price returning to retest the levels of the resistance area again, or returning to targeting the fulcrum area and then the first support area.

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

  • America: Manufacturing PMI 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 1.2726. 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: Manufacturing PMI 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

USD/JPY is somewhat stable since this morning. It is currently trading at 157.20 levels, and from a technical standpoint: We may see prices rising further in an attempt to target the third resistance area as a retest, and the alternative scenario is that the price will fall by targeting the second resistance area and 156.260 levels.

Upcoming news that may affect the pair’s movement:

  • America: Manufacturing PMI 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 Australian dollar fell against the US dollar this morning, falling more than 0.22%, and is currently trading at 0.6639. Technically: The price rebounded near the third resistance area and reached the second resistance area. One of the possible scenarios is to retest the second resistance area and then the first, and the alternative scenario is to return to the third resistance area.

Upcoming news that may affect the pair’s movement:

  • America: Manufacturing PMI 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 fallen since the opening of the markets, breaking the fulcrum area and seeking to reach the first support area. This morning, oil fell by 0.89% 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 movement of oil:

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 has been falling since the markets opened and rose this morning, currently trading at $2,324.71 per ounce. From a technical standpoint, we note that the price respects the regions. But the sellers’ pressure was stronger, and among the current possible scenarios, gold is rising to test the breached area at the third support area. If the penetration is successful, it will rise by targeting the second support area, and in the event of failure, the decline will continue, targeting the $2,300 levels.

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

  • America: Manufacturing PMI 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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