Daily Analysis 2014-06-03
GBPUSD has not broken below the lows on the daily chart for the past two days. This might be the beginning of the pair moving its way back up. If so, by the weekend we could see it at 1.68.
AUDUSD has once again found support at last week's lows level, so there may be more to the medium trend rally we have been seeing.,If everything continues smoothly this week, we could see the pair reach 0.935.
USDCAD is at a major resistance and, most likely, that it will seek further support before the pair continues its massive move upwards.
GOLD is trading at 1243.5 with a very narrow range. If it remains that way, then we might reach the bottom of the last downward movement.
S&P500 looks like it may need some room to breath, following its gains of 2.6% in the past two weeks, (the index has gained every day except for one). It may find a good support at the round number 1900.
Economic news:
11:30 - Construction PMI (GBP)
12:00 - CPI Flash Estimate y/y (EUR)