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Overview of the main events of the Forex economic calendar for the next trading week from 17.06.2019 to 23.06.2019 Trading on key Forex news: we expect the publication of important macro statistics from Germany, the Eurozone, New Zealand, Canada, including data on consumer inflation in the UK and Canada, as well as the results of meetings of central banks of the USA, Japan, and the UK devoted to monetary policy Gold price reached last year's new highs near $1358.00 per ounce, and the yield on 10-year US government bonds fell to almost 2-year lows near 2.060% last week. Investors are alarmed by conflicts...

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Forecast for BTCUSD, ETHUSD, LTCUSD, EOSUSD, XRPUSD Wave analysis for BTCUSD The market continues moving down in the long-term downward triple zigzag [W]-[X]-[Y]-[X]-[Z] that has been developing during 2018 and 2019. The upward corrective linking wave [X] is about to complete soon. Afterwards, the price should be going down in the new descending wave [Z]. Let us see the chart structure in more detail in the four-hour timeframe. The chart presents the structure of the final part of the upward corrective wave [X]. Wave X is taking the shape of a plain zigzag A-B-C. After the B wave completed in the...

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Bank of Japan is to act according to the outcomes of the FOMC meeting The meetings of the Fed and the Bank of Japan make investors be focused on the USD/JPY pair. The BoJ has an important advantage, it will announce its decision on monetary policy a few hours after the US regulator, that is, it will see the USD response to the outcomes of the FOMC meeting. The Japanese regulator doesn’t want the yen to strengthen; although investors think that the Bank of Japan has a limited set of tools, Haruhiko Kuroda doesn’t share their opinion. His comment that...

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BTCUSD (Bitcoin ) strong recovery over the course of last week with a strong weekly close above 8200/8500. Bulls were able to retest another possible supply based on weekly around 9300/10000 ( zone we already discussed few times ). What next? If and when bulls are going to be able to close 10000 11800 as next target. Levels to watch 8500/8200 and 7600/7400. ETHUSD (Ethereum) still range, still no change in view 200/220 vs 280/300. Again as its 100 USD range any breakout/breakdown should bring the movement of at least 100 USD so either 100 or 400, what is your...

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US strong economic data lure investors back to dollar The market can punish for forwardness. The CME derivatives were indicating two or three Fed’s rate cuts in 2019, investors were selling the greenback, expecting the FOMC to sound dovish at the meeting on June 18-19. However, the central bank should have some reasons to lower the rate. Jerome Powell has stressed many times that the decision on any changes in the Fed monetary policy will be taken based on the incoming data. Therefore, strong reports on the US retail sales and manufacturing production don’t suggest that the US GDP should...

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Gold price is being corrected in the middle-term uptrend USCrude – oil Oil is still trading in the middle-term downtrend. Unless the resistance at [54.31 – 53.97] is not broken out, it will be relevant to sell with a target at June’s low. Buyers are trying to reverse the short-term downtrend. They will succeed if they break out the high of June 13. If they do, it will be relevant to look for purchases with a target at the upper Target Zone [54.47 – 54.13]. Until the key resistance is not broken out, look for sell trades with a target...

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Financial markets are accustomed to the US President’s speeches and freaks  Your elbow is near, but you cannot bite it, dear. Donald Trump started criticizing the Fed again, accusing the central bank of incompetence and calling FOMC officials “not his people”. They just don’t understand what they’re doing! The US inflation rate is low but Jerome Powell and his team are raising interest rates! They’re creating an unfavourable environment for the trade war with China! Accidental people will hardly take Fed chairs, won’t they? But who cares... And who cares about the fact that 3 out of 4 of them...

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The pair XAU/USD is still likely to grow. Estimated pivot point is at a level of  1269.38. Main scenario: long positions will be relevant above the level of 1269.38 with a target of 1385.94 – 1431.14. Alternative scenario: Breakout and consolidation below the level of  1269.38 will allow the pair to continue declining to the levels of  1252.00 – 1230.00. Analysis: Supposedly, a correction wave of senior level (B) continues forming on the weekly time frame, with the wave C of (B) developing within. On the D1 time frame, presumably the third wave iii of C is developing , with...

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The USD/JPY pair is under correction, still likely to fall. Estimated pivot point is at a level of 108.80. Main scenario: short positions will be relevant from corrections below the level of 108.80 with a target of 107.51.  Alternative scenario: breakout and consolidation above the level of 108.80 will allow the pair to continue the rise up to the levels of 110.67 – 112.40.  Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 3 of (C) forming inside. On H4 timeframe, presumably there’s a descending correction ii of 3...

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Correction is completed, the pair GBP/USD is likely to continue growing. Estimated pivot point is at a level of 1.2550. Main scenario: long positions will be relevant from corrections above the level of 1.2550 with a target of 1.3178 – 1.3377. Alternative scenario: Breakout and consolidation below the level of 1.2550 will allow the pair to continue declining to the levels of 1.2241 – 1.2101. Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the daily frame in the form of a zigzag and the wave (3) started developing. On...

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