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EXCELLENT JOB ON CALLING GOLD!!!
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Update Time: 02 Jul 2020 16:57GMT

INTRA-DAY EUR/CHF OUTLOOK - 1.0623

Intra-day fall in NY suggests recovery fm Wed's
1-month low at 1.0613 has ended at 1.0665 in Europe
n re-test of said sup wud be seen after consolida-
tion, break wud extend decline fm Jun's 5-1/2 month
peak at 1.0915 to 1.0590 but 1.0577 shud hold.

Exit prev. short n sell again at 1.0640 for 1.06
10. Only abv 1.0665 risks gain to 1.0685/88.
Rate: 1.0623
Strategy: Exit short n sell at 1.0640
Position: Short at 1.0655
Objective: 1.0610
Stop-Loss: 1.0660
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MARKET REVIEW ON 01 Jul 2020 23:52 GMT

Dollar ends lower on improved risk sentiment

Although the greenback initially rose in Asia and European morning on safe-haven usd buying due to continued fears over a second wave of coronavirus pandemic, dollar erased intra-day gains and fell against majority of its peers on Wednesday as encouraging economic data from the U.S. and Europe improved risk sentiment.  
 
Reuters reported the ADP National Employment Report on Wednesday showed private payrolls increased by 2.369 million jobs last month. Data for May was revised up to show payrolls surging 3.065 million, in line with a surprise reb ...
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MARKET MOVING NEWS

  
All times in GMT    
2 Jul 2020 14:46 EUR/USD - 1.1241... Reuters news, German Chancellor Merkel says : 
 
- Europe is in the hardest situation it has been in its history 
- we have to prepare on Brexit for the possibility of not getting a deal 
- the anser to this unprecedented crisis has to be effective 
- it would be less good if it took .....
2 Jul 2020 14:29 USD/MAJORS... Reuters news, in an interview with Bloomberg TV, White House economic adviser Kudlow says : 
 
- he does not see why temporary layoffs cannot continue to reverse 
- shape of any further coronavirus relief package is very much in the air 
 
.....
2 Jul 2020 14:09 USD/MAJORS... Reuters news, in an interview with CNBC, U.S. Vice President Pence says : 
 
- will visit Florida Thursday to discuss rise in coronavirus cases 
- "we're going to keep opening up America again" 
- supports Governors who are pausing re-openings 
- there is no need for a national mandate to w.....
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ECONOMIC INDICATORS FOR 02/07/2020

All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
0130 Australia Trade Balance AUD - May 8,025M 9,000M N/A 8,800M
0130 Australia Imports - May -6% N/A N/A -10%
0130 Australia Exports - May -4% N/A N/A -11%
0630 Swiss CPI MM - Jun 0.0% 0.1% -0.1/0.4 0.0%
0630 Swiss CPI YY - Jun -1.3% -1.2% -1.4/-0.6 -1.3%
0800 Italy Unemployment Rate - May 7.8% 7.7% 7.0/8.5 6.3% 66.6%
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DAILY MARKET OUTLOOK

Update Time: 02 Jul 2020 07:24 GMT

USD/JPY - 107.47

Yesterday's selloff from 108.16 in Asia to 107.37 (New York), then 107.34 today suggests upmove from last Tuesday's 106.08 low has made a temporary top there and subsequent rebound would bring consolidation before heading to 107.05/10 but 106.81 should remain intact.  
  
On the upside, only above 107.88 would risk re-test of 108.16, break, 108.54.
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20 years of history in providing forex market analysis and trading recommendations to institutional traders
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DAILY GBP/USD TECHNICAL OUTLOOK

All times in GMT    
Last Update At 02/07/2020 06:50 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Sideways Turning down 1.2440 1.2398
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Up Bearish divergences 66 +ve
Daily Analysis
Consolidation with upside bias
Resistance Support
1.2542 - Last Wed's high
1.2510 - Last Wed's hourly res
1.2490 - Y'day's high
1.2420 - Y'day's European res (now sup)
1.2402 - Tue's high (now sup)
1.2360 - Y'day's low
. GBP/USD - 1.2464.. The British pound went through a roller-coaster ride. Despite dropping to 1.2360 in Asia, price gained to 1.2420 b4 retreating again to 1.2374. Cable then rallied to 1.2490 in NY on usd's weakness b4 easing. . On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar on safe-haven usd's d.....
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charts offered by ProRealTime.com
 
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WHO WE ARE

AceTrader provides "up-to-the-minute" financial market commentaries and foreign exchange trading recommendations round the clock.

AceTrader is the internet operation of Trendsetter, a global specialist data provider who has been providing its users with real time commentaries and trading recommendations focusing on the foreign exchange market for over 20 years. A dedicated team 7 Analysts monitor the market and update recommendations and commentaries 20 hours a day.

Our coverage includes 20 different instruments with a primary focus on the foreign exchange market and Gold & Silver.

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