USD/JPY Sustains Recent Rallies, Faces Rejection atlevel 111.00

USD/JPY Sustains Recent Rallies, Faces Rejection atlevel 111.00

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
USD/JPY is in an upward move. The currency price is making a series of higher highs and higher lows. On June 17 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement. The retracement indicates that the Yen will rise to level 1.618 Fibonacci extension or level 111.76. The Yen has risen and it is approaching the high of level 110.86.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
USD/JPY is at level 63 of the Relative Strength Index period 14. It implies that the Yen is in the uptrend zone and above the centerline 50. The 21-day and 50-day SMAs are sloping upward. The currency price has broken above the SMAs. The pair will rise if the bullish momentum is sustained.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the Yen is in an upward move. On June 23 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.272 Fibonacci extension and reverse. That is at level 111.50.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair is below the 80% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating an uptrend.

General Outlook for USD/JPY
USD/JPY is in an uptrend. The currency pair is yet to break the resistance at level 111.00. The market is declining after the rejection at the 111.00 resistance zone. According to the Fibonacci tool, the Yen will reverse at level 1.272 Fibonacci extension or level 111.50.


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FTSE 100 (UKX) Is in a Brief Rally, May Face Rejection at level 7200

FTSE 100 (UKX) Is in a Brief Rally, May Face Rejection at level 7200

Resistance Level:7500, 7600, 7700
Support Level: 7300, 7200, 7100

FTSE 100 (UKX) Long-term Trend: Bullish
UKX index is in an upward move. The first uptrend was terminated at level 7200. This caused the index to fall the low of level 7008. FTSE 100 has recovered and it is resuming a fresh uptrend. The index price is breaking above the moving averages. A break above the moving averages will accelerate the index’s upward move.

UKX – Daily Chart

Daily Chart Indicators Reading:
UKX has risen to level 54 of the Relative Strength Index. It indicates that the market is in the uptrend zone and above the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the trend.

FTSE 100 (UKX) Medium-term Trend: Bullish
On the 4 hour chart, FTSE is in an upward move. On June 23 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that UKX will rise and reverse at level 1.272 Fibonacci extension or level 7160.80. From the price action, the market has reached a high of 7116.64.

UKX – 2 Hour Chart

4-hour Chart Indicators Reading
FTSE 100 is above the 78% range of the daily stochastic. It indicates that the market is in bullish momentum. The 21-day and 50-day SMAs are sloping upward. UKX price is above the moving averages which indicate a possible rise of the index.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is rising. UKX price is likely to rise on the upside. Presently, FTSE 100 is trading at level 7116.64. Further upward move is doubtful as the index reaches the overbought region of the market.


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US Wall Street 30 (US30USD) Is in an Uptrend, Targets Level 34320

US Wall Street 30 (US30USD) Is in an Uptrend, Targets Level 34320

Key Resistance Zones: 34000, 34500, 35000
Key Support Zones: 27000, 26500, 26000

US Wall Street 30 (US30USD) Long-term Trend: Bullish
Since June 21, the selling pressure has subsided as the index resumed an uptrend. US Wall Street 30 fell to the low of 33197.50 and resumed an upward move.US30USD has reached level 34207. The upward move is facing resistance at the 50-day SMA. On the upside, if price breaks above the moving averages, the index will resume an uptrend. Otherwise, the market will be in the bearish trend zone.

US30USD – Daily Chart

Daily Chart Indicators Reading:
US Wall Street 30 has risen to level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day and 50 –day SMAs are sloping upward indicating the uptrend.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is presently retracing. Meanwhile, on June 24 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that US30USD is likely to rise to level 1.618 Fibonacci extension or level 34311.00. From the price action, the index is trading at level 34228.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 80% range of the daily stochastic. It indicates that the market is in a bullish momentum. Also, it has reached the overbought region. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD is in an uptrend. According to the Fibonacci tool, US30USD will rise to level 1.618 Fibonacci extension or level 34311. Meanwhile, the index is now trading in the overbought region.

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Dogecoin (DOGE) Recovers above $0.1650 Support, Resumes Uptrend

Dogecoin (DOGE) Recovers above $0.1650 Support, Resumes Uptrend

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bullish
DOGE’s price fell to the $0.1650 support twice before resuming upward. The uptrend has reached the high of $0.244 which caused it to retrace. Presently, the upward move is facing rejection as it reaches the overbought region of the market. However, the uptrend is likely to resume a minor retracement. On the upside, if the DOGE price breaks above $0.35 resistance, the market is likely to be in the bullish trend zone.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
Dogecoin price is at level 39 of the Relative Strength Index period 14. It indicates that the altcoin is in the bearish trend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping horizontally indicating the downtrend.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGEUSD downtrend appears to have been exhausted above the $0.1650 support level. The price has broken the moving averages. On June 23 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.618 Fibonacci extensions or level $0.2913.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 80% range of the daily stochastic. It indicates that the coin is in a bearish momentum. Also, the market has reached the overbought region. The moving averages are sloping upward indicating the uptrend.

General Outlook for Dogecoin
DOGE/USD has resumed upward move. The crypto rebounded above level $0.1650 to reach the previous highs. According to the Fibonacci tool, the current uptrend will reach the high of level 1.618 Fibonacci extensions or level $0.2913.

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Uniswap (UNIUSD) Price May Bounce Up at Support Levels at $15

Uniswap (UNIUSD) Price May Bounce Up at Support Levels at $15

Uniswap Price Analysis – June 24

Inability to break down $15 price level by the bears, Uniswap price may increase to $21, $27 and $34 price levels. In case the bears were able to exert pressure to break down the support level of $15, the price may decrease to the support level at $12 and $9 levels.

UNI/USD Market

Key Levels:

Resistance levels: $21, $27, $34

Support levels: $15 $12, $9

UNI/USD Long-term Trend: Bearish

On the long-term outlook, Uniswap is bearish. Bearish momentum continues in the Uniswap market. The support level of $21 could not hold the price, it is penetrated and dropped to the support level of $15. The price is trying to pull back at the moment. The bulls’ pressure is trying to push the price back at the support level of $15.

Uniswap Daily chart, June 24

 

Uniswap continue its trading below the 9 periods EMA and 21 periods EMA which indicates an increase in bearish momentum. The fast moving average (9 periods EMA) is below the slow moving average (21 periods EMA). Inability to break down $15 price level by the bears, Uniswap price may increase to $21, $27 and $34 price levels. In case the bears were able to exert pressure to break down the support level of $15, the price may decrease to the support level at $12 and $9 levels. However, the Relative Strength Index is bending up at 30 levels which indicate a buy signal.

UNI/USD Medium-term Trend: Bearish

On the 4-hour chart, Uniswap is bearish. The bears gain momentum at the resistance level of $29 and the bearish movement continues. At the same time, the bears’ momentum increases and it break down the support level of $21. The price decline to test the support level at $15.

Uniswap 4 hour chart, June 24

Uniswap is trading between the 9 periods EMA and 21 periods EMA, the relative strength index period 14 is at 50 levels bending up to indicate buy signal.

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AUDUSD Rises for the 4th Day in a Row Towards 0.7600

AUDUSD Rises for the 4th Day in a Row Towards 0.7600

AUDUSD Price Analysis – June 24

The AUDUSD pair has been trending upward for the first 4 days of the week, lingering at the top end of its intraday trading range, around 0.7586, heading into the American session. Following a slight bounce in the prior day, the US Dollar Index struggles for traction while focusing switches to the US’ important macroeconomic data releases.

Key Levels
Resistance Levels: 0.7800, 0.7700, 0.7600
Support Levels: 0.7531, 0.7476, 0.7350
AUDUSD Long term Trend: Ranging
AUDUSD is approaching the weekly resistance around 0.7600 in the European session on Thursday. As a result, the Australian pair validates its rebound from the ascending trendline support at 0.7476 level. After trading below the weekly high in the first half of the day, keeping AUDUSD’s constrained, the bulls are back.
 
However, buyers remain optimistic due to strong momentum and trading past the weekly rising support line. As a result, AUDUSD traders should wait for a clear break of the area between the indicated moving average (5 and 13) which is now around 0.7600 and 0.7531 levels, respectively.
AUDUSD Short term Trend: Ranging
Beyond the mid 0.7500 marks, the AUDUSD continues in a range, with the intraday tilting first towards the 0.7600 level. A further gain could ensure that the 0.7600 thresholds is been crossed. The short-term gain from 0.7476 to 0.7599 might reach 0.7700 levels.

However, given the prolonged consolidation state in the 4 hour RSI, a return to the 0.7476 support level could imply a short-term topping. The intraday bias will be shifted back to the downside as the market corrects towards a weaker support level at 0.7400.

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USD/Cad Declines as It Faces Rejection at Level 1.2500

USD/Cad Declines as It Faces Rejection at Level 1.2500

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.1900, 1.1800, 1.1700

USD/CAD Price Long-term Trend: Bearish
Since June 21, the USD/CAD upward move has been interrupted. The currency pair is facing rejection at the 1.2500 resistance level. The market is declining on the downside. If price breaks below the moving averages, it will accelerate the downward move. On March 17 downtrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the market will fall to level 2.618 Fibonacci extension or level 1.1771.

USD/CAD -Daily Chart

Daily Chart Indicators Reading:
USD/CAD has fallen to level 56 of the Relative Strength Index period 14. It indicates that the pair is still in the uptrend zone and above the centerline 50. The 21-day and 50-day SMAs are sloping downward.

USD/CAD Medium-term Trend: Bearish
On the 4-hour chart, the USD/CAD is in a downward move. The currency price is attempting to break below the moving averages. A break below the moving averages will signal the resumption of selling pressure.

USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
USD/CAD is above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum. However, the stochastic bands are pointing downward indicating the downtrend. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for USD/CAD
USD/CAD pair is now in a downward move. On the daily chart, if price falls and finds support above the moving averages, the uptrend will resume. However, the downtrend will continue if price breaks below the SMAs or the trend line.

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CAD/JPY Consolidates Ahead Of A Breakout!

CAD/JPY Consolidates Ahead Of A Breakout!

CAD/JPY changed little in the short term as the buyers are exhausted. The bias is bullish, so the pair could resume its growth soon. It’s trapped within a minor continuation pattern, a valid breakout from this formation may signal an upside continuation.

The pair has slipped lower after worse than expected Canadian retail sales data. The Retail Sales indicator dropped by 5.7% versus 5.1% expected, while the Core Retail Sales decreased by 7.2% more versus the 4.4% forecast.

CAD/JPY H1 Chart Technical Analysis!

CAD/JPY has decreased a little but it has failed to retest the R1 (89.956). It has developed a minor continuation pattern on the H1 chart. Making an upside breakout and passing above the downtrend line could signal potential growth.

A minor consolidation was expected and it’s natural after the amazing rally. CAD/JPY tries to accumulate more bullish energy before jumping higher.

Conclusion!

The outlook is bullish as long as it stays above the R1 and above the median line (ML). Taking out the immediate resistance levels could bring us a new long opportunity.

 

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Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

Ethereum (ETH) Price Analysis: Ether Resumes Selling Pressure as It Faces Rejection at $2,034

Ethereum (ETH) Price Analysis: Ether Resumes Selling Pressure as It Faces Rejection at $2,034

Key Highlights
Ethereum price faces rejection at $2,034
The altcoin has resumed selling pressure

Ethereum ETH) Current Statistics
The current price: $1,936.18
Market Capitalization: $225,934,662,449
Trading Volume: $26,606,288,953
Major supply zones: $2,800, $3,000, $3,200
Major demand zones: $2400,, $2,200, $2,000

Ethereum (ETH) Price Analysis June 23, 2021
Yesterday, Ether plunged to level $1,711 as bulls bought the dips. The crypto’s price corrected upward to level $2,034 but was repelled. The altcoin is likely to resume downward as it faces rejection. The market will decline to the previous low at either levels $1825 or $1755. Ether is in a downward correction as price fluctuates above level $1,740.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The altcoin is at level 36 of the Relative Strength Index period 14. Ether is approaching the oversold region. The crypto’s price is below the moving averages which suggest further downside. It indicates that ETH is in the downtrend zone and below the centerline 50.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum is falling because of the latest rejection. Meanwhile, on June 8 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ethereum will fall to level 2.0 Fibonacci extension or level $1,761.75. From the price action, the market is falling and has reached a low of $1,956.60.

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XLM/USD (Stellar) Price Approaches a Potential Bullish Reversal Level

XLM/USD (Stellar) Price Approaches a Potential Bullish Reversal Level

STELLAR Price Analysis – June 23

An increase of the bears’ pressure may break down the support level of $0.22, which may leads to further price decrease to the low of $0.16, later it may extend to $0.11 level. In case the bears’ pressure are unable to break down the support level of $0.22, bulls may take over and the price may increase towards the $0.30, $0.42 and $0.50 resistance levels.

Key Levels:

Resistance levels: $0.30, $0.42, $0.50

Support levels: $0.22, $0.16, $0.11

XLM/USD Long-term Trend: Bearish

Stellar is bearish on the daily chart. The sellers had to double their pressure so that the confluence at the former support level of $0.30 can be penetrated. The support level of $0.30 has been broken downside and the coin testing the support level of $0.22 at the moment. Today, the coin is carrying out a retracement towards the $0.30 resistance level.

XLMUSD Daily chart, June 23

Stellar continues trading below the 9 periods EMA and 21 periods EMA which indicate an increase of bearish momentum. An increase of the bears’ pressure may break down the support level of $0.22, which may leads to further price decrease to the low of $0.16, later it may extend to $0.11 level. In case the bears’ pressure are unable to break down the support level of $0.22, bulls may take over and the price may increase towards the $0.30, $0.42 and $0.50 resistance levels. However, the relative strength index period 14 is bending up at 20 levels to indicate buy signal.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. Last two weeks, the bears’ momentum and that of the bulls seems to be equal and that is what caused consolidation in the Stellar market. The price reached the support level of $0.22 and the bearish momentum is becoming weak.

XLMUSD 4 hour chart, June 23

The price is crossing over the 9 periods EMA and the 21 periods EMA upside as a sign of bullish movement. The Relative Strength Index period 14 is at 50 levels pointing up to indicate buy signal.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.