EURUSD

The EUR/USD pair has surrendered the majority of intraday gains added in the Asian session. The major currency pair has faced some selling pressure while attempting to recapture the psychological resistance of 1.1000.

 If the pair continues the uptrend to the range of 1.1046, it is expected to continue the uptrend to the range of 1.1102.

On the other hand, If the pair continues the downtrend to the range of 1.0932, it is expected to continue the downtrend to the range of 1.0876.

USDJPY

USD/JPY picks up bids to pare intraday losses around 141.75 amid early Thursday morning in Europe. In doing so, the Yen pair justifies recently dovish commentary from a Bank of Japan (BoJ) Official, versus the hawkish bias of Federal Reserve (Fed) Chairman Jerome Powell.

if the pair continues the uptrend to the range of 142.41, it is expected to continue the uptrend to the range of 142.92.

On the other hand, If the pair continues the downtrend to 141.34, it is expected to continue the downtrend to 140.78.      

GBPUSD

GBP/USD is trading in a narrow range near 1.2750 ahead of the key BoE decision on Thursday. Pound Sterling ignores rising bets for a 50 bps BoE lift-off, following hot UK inflation data. A modest US Dollar bounce weighs on the pair.

If the pair continues the uptrend to the range of 1.2815, it is expected to continue the uptrend to the range of 1.2864.

On the other hand, if the pair continues the downtrend to 1.2705, it is expected to continue the downtrend to 1.2644.

AUDUSD

AUD/USD is trading with modest losses below 0.6800, progressing toward the European morning. Risk sentiment remains fragile amid expectations of more rate hikes by major global central banks, offering some respite to the US Dollar. Fedspeak, US data next in focus.

If the pair continues the uptrend to the range of 0.6821, it is expected to continue the uptrend to the range of 0.6845.        

On the other hand, if the pair continues the downtrend to 0.6757, it is expected to continue the downtrend to 0.6717.

XAUUSD

Gold remains on the back foot as it jostles with short-term key support, lacks a directional sense of late, as markets await a slew of central bank decisions. Apart from the pre-announcement anxiety, the holiday in China and mixed catalysts about the Fed also restrict the XAU/USD price moves.

If the pair continues the uptrend to the range 1941.54, it is expected to continue the uptrend to the range of 1950.70.

On the other hand, if gold continues the downtrend to the range of 1921.23, it is expected to continue the downtrend to the range 1910.08.

EURUSD

EUR/USD is posting small gains above 1.0700, finding support from a broad US Dollar weakness and hawkish ECB expectations ahead of the mid-tier EU data this Tuesday. Cautious market mood and disappointing German Factory Orders limit the upside in the major.

 If the pair continues the uptrend to the range of 1.0750, it is expected to continue the uptrend to the range of 1.0778.

On the other hand, If the pair continues the downtrend to the range of 1.0684, it is expected to continue the downtrend to the range of 1.0656.

USDJPY

USD/JPY holds a lower ground near the intraday bottom surrounding 139.35 heading into Tuesday’s European session. In doing so, the Japan Yen (JPY) pair defends the previous day’s bearish bias with a one-week-old ascending triangle formation.

if the pair continues the uptrend to the range of 140.27, it is expected to continue the uptrend to the range of 140.96.

On the other hand, If the pair continues the downtrend to 138.56, it is expected to continue the downtrend to 137.87.      

GBPUSD

GBP/USD is trading close to 1.2450, defending minor bids in early Europe. Amidst poor US economic data and increased Fed pause bets, the US Dollar takes the back seat, despite a cautious risk tone so far this Tuesday.

If the pair continues the uptrend to the range of 1.2472, it is expected to continue the uptrend to the range of 1.2510.

On the other hand, if the pair continues the downtrend to 1.2382, it is expected to continue the downtrend to 1.2330.

AUDUSD

AUD/USD gains near 50 basis points (bps) on the Reserve Bank of Australia’s (RBA) second surprise rate hike during early Tuesday. That said, the Aussie pair initially jumped to 0.6673 on the RBA’s verdict before retreating to 0.6668 by the press time.

If the pair continues the uptrend to the range of 0.6670, it is expected to continue the uptrend to the range of 0.6703.        

On the other hand, if the pair continues the downtrend to 0.6611, it is expected to continue the downtrend to 0.6585.

XAUUSD

Gold price is auctioning inside the woods around $1,960.00 in the early London session. The precious metal is displaying back-and-forth action as the investing community is divided about the interest rate decision by the Fed to be taken in June’s monetary policy meeting.

If the pair continues the uptrend to the range 1971.20, it is expected to continue the uptrend to the range of 1980.60.

On the other hand, if gold continues the downtrend to the range of 1945.28, it is expected to continue the downtrend to the range 1928.76.

EURUSD

EUR/USD is trading modestly flat just below 1.0700, extending its sideways movement in Asia this Thursday. The US debt deal wins the House passage. Traders refrain from placing fresh bets on the pair ahead of the EU inflation data and the US jobs data.

 If the pair continues the uptrend to the range of 1.0739, it is expected to continue the uptrend to the range of 1.0789.

On the other hand, If the pair continues the downtrend to the range of 1.0637, it is expected to continue the downtrend to the range of 1.0585.

USDJPY

USD/JPY picks up bids to refresh its intraday high near 139.50 as it prints the first daily gains in four during early Thursday. In doing so, the Yen pair recovers from the bottom line of a short-term bull flag formation. The RSI (14) line’s rebound from the below-50 region seems to underpin the USD/JPY pair’s latest recovery moves within the flag.

if the pair continues the uptrend to the range of 140.80, it is expected to continue the uptrend to the range of 141.21.

On the other hand, If the pair continues the downtrend to 138.93, it is expected to continue the downtrend to 138.52        .

GBPUSD

GBP/USD grinds near weekly high as bulls and bears jostle ahead of the key data/events scheduled for publishing on Thursday. The Cable pair makes rounds to 1.2450 during early Thursday morning in Europe amid the latest retreat in the US Dollar, mainly due to the cautious optimism and receding hawkish Fed bias.

If the pair continues the uptrend to the range of 1.2474, it is expected to continue the uptrend to the range of 1.2507.

On the other hand, if the pair continues the downtrend to 1.2378, it is expected to continue the downtrend to 1.2315.

AUDUSD

AUD/USD prints the first daily gains in three around 0.6520 as cautious optimism in the market joins the mixed concerns about Federal Reserve (Fed) to recall buyers early Thursday. However, the looming employment clues from the US and impending voting on the US debt-ceiling bill in the Senate check the risk-barometer buyers.

If the pair continues the uptrend to the range of 0.6536, it is expected to continue the uptrend to the range of 0.6568.        

On the other hand, if the pair continues the downtrend to 0.6465, it is expected to continue the downtrend to 0.6426.

XAUUSD

Gold is demonstrating topsy-turvy moves in a $1,962-1,967 range in the Asian session. The precious metal has turned sideways as investors are awaiting the release of the US Employment data to gain serious guidance about June’s interest rate policy of the Fed.

If the pair continues the uptrend to the range 1973.75, it is expected to continue the uptrend to the range of 1984.85.

On the other hand, if gold continues the downtrend to the range of 1952.64, it is expected to continue the downtrend to the range 1942.63.