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Daily Market Overview and Trade Ideas

TraderTalk | AUD hit on US trade tariffs on China | June18th easyMarkets

-AUD/USD closes below 0.7450 on Trade war fears as US hits CHina with more tariffs

-EUR/USD bounces after heavy ECB falls on Friday

-USD/JPY struggles to hold gains as Stocks fall on trade fear

Daily Trading Ideas

USDCHF approaching resistance, potential drop!

USDCHF is approaching our first resistance at 1.0096 (horizontal swing high resistance, 78.6% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 0.9892 (horizontal pullback support, 23.6% Fibonacci retracement).

Stochastic (89,5,3) is also approaching our resistance and a reaction off this level might see a corresponding drop in price.

See enlarged at: https://www.tradingview.com/chart/USDCHF/0JY2wJio-USDCHF-approaching-resistance-potential-drop/

NZDUSD approaching resistance, potential drop!

NZDUSD is approaching our first resistance at 0.6963 (horizontal overlap resistance) and a strong reaction might occur below this level pushing price down to our major support at 0.6777 (horizontal swing low support, 61.8% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.

RSI (55) is also approaching our resistance and a reaction off this level might see a corresponding drop in price.

See enlarged at: https://www.tradingview.com/chart/NZDUSD/XULu32xA-NZDUSD-approaching-resistance-potential-drop/

EURAUD approaching resistance, potential drop!

EURAUD is approaching our first resistance at 1.5628 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.5277 (horizontal swing low support).

Stochastic (89,5,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.

See enlarged at: https://www.tradingview.com/chart/EURAUD/7y8Ps0wy-EURAUD-approaching-resistance-potential-drop/

USDJPY approaching resistance, potential drop!

USDJPY is approaching our first resistance at 112.09 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 108.49 (horizontal swing low support).

Stochastic (89,5,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.

See enlarged at: https://www.tradingview.com/chart/USDJPY/R3QPQ81C-USDJPY-approaching-resistance-potential-drop/

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