Market Brief / 21-06-2017

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The EUR/USD pair posted a rebound from 1.1115 (the low of June 20), it is still trading below the declining 50-period moving average, which plays a resistance role.

The RSI is below its neutrality level at 50.

The upside potential should be limited by the key resistance at 1.1165 (the high of June 20).

Therefore, as long as this key level is not broken, a further decline to 1.1115 and even 1.1080 seems more likely to occur.

Alternatively, above 1.1165, look for a new advance with 1.1185 and 1.1210 as targets.

On the data slate there’s UK Public Finances; UK Central Government NCR; UK PSNB ex Banking Groups; US Mortgage Applications; UK BOE’s Haldane Speaks in Yorkshire; US Existing Home Sales and US Crude Oil Inventories.

BUY EUR/USD @ 1.1130 OR BETTER – STOP @ 1.1100 – TARGET @ 1.1220

BUY GBP/USD@ 1.2620 OR BETTER – STOP @1.2570 – TARGET @ 1.2710

SELL USD/JPY @ 111.70 OR BETTER – STOP @ 112.20 – TARGET @ 111.00
– no change

BUY CL0817 @ 43.50 OR BETTER – STOP @ 43.00 – TARGET @ 45.30

BUY AUD/USD @ 0.7560 OR BETTER – STOP @0.7510 – TARGET @ 0.7620
– no change

BUY XAU @ 1242 OR BETTER – STOP @ 1236 – TARGET @ 1265
– no change

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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