Daily Market Report: June 21, 2022
Latest events and figures - make your trading smarter by following the daily summary of the hottest market news and announcements.
June 21, 2022
US stocks eased; Oil up
US stock futures eased in overnight trading Monday, with markets remaining closed for a public holiday after suffering heavy losses in the previous week. Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each trading 0.1% lower.
The RSI calls for a new upleg.
For long positions above 3635.00, check out targets at 3837.00 and 3900.00 in extension.
Should the rate slide below 3635.00, look for a further downside with 3565.00 and 3475.00 as targets.
USD/CHF fades rebound from a fortnight-low, remains sidelined of late. The USD/CHF seesaws around 0.9675, fading the late Monday’s bounce off a two-week low, as traders await fresh catalysts.
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
For long positions above 0.9645, discover fresh targets at 0.9690 and 0.9710 in extension.
If the rate dips below 0.9645, look for a further downside with 0.9620 and 0.9600 as targets.
The gold price picks up bids to refresh intraday high, reverses week-start declines. The gold price (XAU/USD) remains firmer around $1,843 as bulls cheer the US dollar’s sustained weakness during the lackluster Asian session on Tuesday.
As long as 1845.00 is resistance, look for choppy price action with a bearish bias.
In the case of a price drop below 1845.00, look for targets at 1833.00 and 1825.00 in extension.
Should the price increase above 1845.00, look for a further upside with 1852.00 and 1858.00 as targets.
Oil rises on market caution over supply concerns. Oil prices rose to 110.50 or 1% in early trade on Tuesday, clawing back more of last week's losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track.
The RSI calls for a bounce.
Should the rate climb above 108.00, look for the next targets at 111.20 and 112.40 in extension.
If the rate slides below 108.00, look for a further downside with 106.40 and 105.30 as targets.
EUR/USD grinds higher around 1.0525 as bulls jostle with weekly resistance line. EUR/USD battles with an eight-day-old resistance line as buyers extend the week-start rebound to 1.0520 during Tuesday’s Asian session.
The RSI advocates for further upside.
If the price moves above 1.0500, find fresh targets at 1.0545 and 1.0575 in extension.
Should the price decline below 1.0500, look for a further downside with 1.0470 and 1.0445 as targets.
GBP/USD fades week-start rebound, seesaws inside short-term triangle. The GBP/USD remains sidelined around the mid-1.2200s as it funnels down to the short-term triangle break during early Tuesday’s Asian session.
The RSI advocates for further upside.
For long positions above 1.2230, check out targets at 1.2310 and 1.2340 in extension.
If the price falls below 1.2230, look for a further downside with 1.2200 and 1.2170 as targets.
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