28.06.202110:35 Forex Analysis & Reviews: Trading recommendations for starters of EUR/USD and GBP/USD on June 28, 2021

Here are the details of the economic calendar from June 25:

The economic calendar last Friday only had US data on personal expenses and income, where the indicators are weak, but they still came out better than the forecast.

• Personal spending didn't rise in May, but it didn't fall either, which is not bad.
• Personal incomes declined by -2% in May, although it was expected to fall by -2.5%.

The data on personal expenses and income is prepared by the Bureau of Economic Analysis of the US Department of Commerce.

The personal income indicator reflects the change in the total income of individuals, including salaries and salaries, interest income, dividends, rent, and compensation. A high result leads to the strengthening of the national currency, and a low indicator leads to its weakening.

The indicator for personal expenses reflects the change in the total volume of goods and services purchased by individuals. A high result leads to the strengthening of the national currency, while a low one leads to its weakening.

In this case, we had a discrepancy between the expectation and the forecast, where not-so-good data became a local incentive for the US dollar's strengthening due to the fact that we expected even worse results.

Analysis of trading charts from June 25:

The EUR/USD pair did not change the market cycle, where the quotes follow within the amplitude range of 1.1910/1.1975 for more than 50 hours.

The process of price fluctuations in a closed amplitude leads to the so-called process of accumulation of trading forces in the market, where a sharp price change will occur in the case of a breakdown of a particular border of the amplitude.

The trading recommendation on June 25 considered the accumulation stage, indicating the method of breaking through one or another amplitude border.

The GBP/USD pair managed to restore the downward trend by about half relative to the correction movement on June 21-23. The psychological level of 1.4000 serves as a resistance, from which the price rebound occurred.

It is worth noting that psychological levels are round values (1,2000,1,3000, 1,4000,1,5000, etc.) that serve as key coordinates in the market, which traders pay special attention to. These levels are often used as support or resistance.

Trading recommendation for EUR/USD and GBP/USD on June 28, 2021

Today is a typical Monday in terms of the economic calendar, where there are no important statistics. In this case, traders pay special attention to the information flow, as well as to technical analysis.

Looking at the EUR/USD trading chart, one can see that a looped sideways movement along with the previously known amplitude in the market. The trading method based on the outgoing impulse is still relevant among traders.

Let's concretize the recommendation into trading signals:

• Buy positions will be considered if the price is kept above the level of 1.1980
• Sell positions will be considered if the price is kept below the level of 1.1905

As for the trading chart of the GBP/USD, it shows that a variable pivot point in the face of the price area of 1.3870, which has a natural basis of support from June 22, has stood in the way of sellers. To continue the downward cycle, the quote must be kept below the level of 1.3855, otherwise, the price may return above the level of 1.3950.