Daily Market Report: June 20, 2022
Latest events and figures - make your trading smarter by following the daily summary of the hottest market news and announcements.
June 20, 2022
US stocks up; Gold recovers
US stock futures rose modestly during Sunday’s evening deals. Dow Jones Futures were up 0.4%, S&P 500 Futures gained 0.6% and Nasdaq 100 Futures were up 1%.
The RSI is mixed with a bearish bias.
For short positions below 11950.00, check out targets at 10930.00 and 10300.00 in extension.
In the case of a price rise above 11950.00, look for a further upside with 12400.00 and 12900.00 as targets.
USD/CAD pares recent gains at 19-month high, renews intraday low of late. The USD/CAD takes offers to renew intraday low around 1.3000 as buyers take a breather around the highest levels since late 2020 amid a sluggish start to the week.
The RSI calls for a new downleg.
In the event of a price drop below 1.3045, find new targets at 1.2990 and 1.2965 in extension.
Should the rate move above 1.3045, look for a further upside with 1.3080 and 1.3105 as targets.
Gold price has recovered its opening losses and has reclaimed $1,842.00. (XAU/USD) has rebounded sharply after slipping below the potential cushion of $1,842.00.
A break below 1833.00 would trigger a drop towards 1825.00.
Should the rate fall below 1851.00, find new targets at 1833.00 and 1825.00 in extension.
If the price climbs above 1851.00, look for a further upside with 1858.00 and 1865.00 as targets.
WTI crude oil prices retreat towards the monthly low, despite taking rounds to $108.50 during Monday’s Asian session, as fears of economic slowdown join hopes of higher output.
As long as the resistance at 111.20 is not surpassed, the risk of the break below 106.40 remains high.
If the price drops below 111.20, discover new targets at 106.40 and 104.20 in extension.
Should the price move above 111.20, look for a further upside with 113.30 and 114.80 as targets.
EUR/USD bears take a breather after three-week downside, sidelined of late. The EUR/USD pares recent losses around 1.0500 during a quiet Asian session on Monday.
The RSI lacks downward momentum.
For long positions above 1.0450, check out targets at 1.0510 and 1.0540 in extension.
If the rate dips below 1.0450, look for a further downside with 1.0420 and 1.0385 as targets.
The GBP/USD pair is oscillating in a narrow range of 1.2205-1.2233 in the early Asian session after a minor rebound from a low of 1.2173, recorded on Friday. The pair is displaying a balanced market profile and is expected to turn imbalance as higher expectations of Consumer Price Index (CPI) figures by the UK economy will spurt the recession fears and will weaken the cable further.
The RSI lacks downward momentum.
Should the rate climb above 1.2180, find the next targets at 1.2260 and 1.2300 in extension.
In the event of a price drop below 1.2180, look for a further downside with 1.2135 and 1.2090 as targets.
Customer Notice: The charts are provided by Trading Central, which is a respected third party research provider. The information provided should not be considered as trading or investment advice. 1Market provides Trading Central chart analysis to support clients in their trading decisions, which should be independently evaluated. The recipient acknowledges that he is solely responsible for his decisions. The analysis offered reflects the views of Trading Central and are subject to change at any time. Past performance of a financial asset is not a reliable indicator of its future performance. 1Market cannot be held liable for any information provided by Trading Central. 1Market makes no representation and assumes no liability as to the accuracy or completeness of the information provided nor any loss arising from any investment based on this material, forecast or other information supplied by an employee of 1Market, a third party or otherwise.
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