Technical Overview - 15th June

EURUSD - Falling Wedge

The drop in the price of EURUSD, started on 9th of June, has drawn a Falling Wedge. This price pattern is usually giving strong bullish signals. A break above the upper line of the pattern can be considered a confirmation for the signal, since it will increase the probability of a rally in favor of the Euro. 
Currently the currency pair is trading under a very strong resistance area formed by the the resistance from 1.1230 and the upper line of the Wedge. A break above this level could trigger a strong rally towards the next intermediate resistance from 1.1278, or even 1.1300. On the other hand another drop to the 1.1190 could build up pressure and break it.
EURUSD - 15th June Falling Wedge

GBPUSD - Piling Up Pressure

The GBPUSD has managed to bounce once more from the 1.4085/4100 support area, though the Brexit polls and speculations have been pushing  the pound down for the past two weeks. The rally stopped at a local resistance, very close to the 1.4200 round number level, and the downtrend line. I am expecting the price to come back down to the support area piling up down pressure. A break below this area could trigger a steeper drop towards 1.4000.
GBPUSD - 15th June Pilling Up Pressure

OIL WTI - Bullish Price Pattern

OIL WTI has drown a Falling Wedge on a downtrend. Usually found in these conditions is known to act as an Ending Diagonal. This pattern is known to be a bullish one. If the price will break above the upper line of the pattern and, I would add, above the local resistance from 40.10, the pattern can be considered confirmed. The breakout could then be followed by a rally towards the next important resistance area found between 48.70 and 49.00 dollars per barrel.
OIL WTI - 15th June Falling Wedge

Risk Warning: Financial Derivative Instruments are complex instruments and leveraged products that involve a high level of risk which can result in high losses, including the risk of losing the entire capital invested by the Client. Such instruments might not be suitable for all Clients. The Client should not engage in transactions with such Financial Instruments unless he/sheunderstands and accepts the risks involved by trading Financial Instruments, taking into account his/her investment objectives and level of experience. Hayeswell warns that the information published on this website shall not be considered as a recommendation to buy/sell/keep a certain financial instrument and that past performance of Financial Instruments is not a reliable indicator of future performances.