Trade Ideas for June 08 – 12, 2020

It is a new week. and we are adding instruments to our repertoire.

In Addition to the GBPUSD, we shall look at EURUSD, EURJPY and Gold.

In your trading plans for this week, keep an eye at these levels.

If you want daily levels for the pairs I am trading subscribe to my mailing list for the key price action levels for each trading day.

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Key Price levels this week.

EURUSD.

EURUSD-forecast

Pivot – 1.12582.

Resistance Levels: 1.13664, 1.14333, 1.14809, 1.15416, 1.16498, 1.17167, 1.18250.

Support Levels: 1.11499, 1.10830, 1.10354, 1.09748, 1.08665, 1.07996, 1.06914

GBPUSD.

GBPUSD Forecast

Pivot – 1.25712.

Resistance Levels: 1.27294, 1.28271, 1.28967, 1.29853, 1.31435, 1.32412, 1.34011.

Support levels. 1.24133, 1.23154, 1.22457, 1.21570, 1.19986, 1.19007, 1.17423

EURJPY.

EURJPY Forecast

Pivot – 122.516.

Resistance levels: 124.429, 125.612, 126.454, 127.526, 129.439, 130.622, 132.536.

Support levels: 120.602, 119.419, 118.578, 117.506, 115.592, 114.409, 112.496

GOLD.

GOLD Forecast

Pivot – 1700.36.

Resistance levels: 1728.83, 1746.83, 1758.95, 1774.91, 1803.38, 1820.98, 1849.46.

Support Levels: 1671.88, 1654.28, 1641.76, 1625.81, 1597.33, 1579.73, 1551.26

Key Fundamentals this week.

ECB President Lagarde Speaks today – Monday

On Wednesday we have CPI data, FOMC Statement, Federal Funds Rate, FOMC Economic Projections.

Eurogroup Meetings on Thursday.

Prelim UoM Consumer Sentiment on Friday

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Final remarks.

Price will often drift towards the first four levels – R38 to R100 for bullish bias and S38-s100 for bearish bias.

Strong fundamentals can however test the last three levels – 138 – 200.

Trade according to your strategy but keep an eye on these levels.

If you struggle with where to place your take profit targets, then these levels may help.

Signup for my newsletter for price levels for daily trading.

Till next week.

Trade responsibly.

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