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.

Need a forex broker? Try Tickmill or XM with a $30 no deposit bonus and eToro for US citizens.

Key Price levels this week.



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 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 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 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

Need a forex broker? Try Tickmill or XM with a $30 no deposit bonus and eToro for US citizens.

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.

Hit the bell icon on the bottom right of this page to subscribe for notifications and follow me on Twitter @thetraderinyou to be the first to know when an article like this is published.

Need to try a new forex broker? Grab a $30 no deposit bonus from XM and Tickmill and trade risk-free. You can withdraw your profits.

#COVID-19 is real, be safe. #Trade safe and follow your rules. #forex #investment Click To Tweet

Leave a Comment

Are you SICK of loosing money and your mind trading?

Join traders like you and receive exclusive actionable trade ideas and resources that will help you extract money every day from the markets.