Market Brief / 20-06-2017

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The EUR/USD pair is trading below the declining 20- and 50-period moving averages, which play resistance roles and maintain the downside bias. Meanwhile, the RSI has capped by a bearish trend line since Friday.

As long as 1.1185 holds, look for a drop to 1.1130 and 1.1095. Alternatively, if 1.1185 breaks on the upside, we are looking at 1.1250 and 1.1280 as targets.

On the data slate there’s German PPI; UK BOE’s Carney Speaks at Mansion House Event in London; Switzerland SNB’s Jordan Speaks in Bern; US Fed’s Rosengren to Speak at Macroprudential Conference and US Current Account Balance.

BUY EUR/USD @ 1.1150 OR BETTER – STOP @ 1.1110 – TARGET @ 1.1250

BUY GBP/USD @ 1.2750 OR BETTER – STOP @ 1.2700 – TARGET @ 1.2875
– no change

SELL USD/JPY @ 111.70 OR BETTER – STOP @ 112.20 – TARGET @ 111.00

BUY CL0817 @ 44.50 OR BETTER – STOP @ 43.80 – TARGET @ 46.30
– no change

BUY AUD/USD @ 0.7560 OR BETTER – STOP @ 0.7510 – TARGET @ 0.7620

BUY XAU @ 1242 OR BETTER – STOP @ 1236 – TARGET @ 1265

BUY XAG @ 16.50 OR BETTER – STOP @ 16.00 – TARGET @ 17.30
– no change

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.

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