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EUR/USD Below 1.0750 on Risk Aversion; Nasdaq Up; Gold Stagnant in Holiday Trading.

By Research Team Wednesday, Jun 19, 2024
EUR/USD

    • 11.30amD1
    • High1.0742
    • Low1.0725
    • Close1.0737

EUR/USD is trading at 1.0737, 0.01% down since previous day close. September Fed rate cut bets keep the USD bulls on the defensive and lend support. The technical setup favors bearish traders and supports prospects for further losses. lending some tepid support to the risk complex and lifting EUR/USD to as high as the 1.0760 zone, where some initial resistance seems to have emerged. Nearest support is 1.0710 and resistance will 1.0757 strong US Dollar lead other currencies to trade in red.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0845
R2 1.7905
R1 1.0747
Turnaround 1.0700
S1 1.0710
S2 1.0664
S3 1.0646
By Research Team Wednesday, Jun 19, 2024
US100

    • 11.35amD1
    • High19977.00
    • Low19940.00
    • Close19972.00

US100 is trading at 19908. 0.12% up since previous day close. tech-heavy Nasdaq as better-than-expected U.S. retail sales data increased investor confidence about the Federal Reserve’s intention to ease monetary policy this year. Retail sales increased by 0.1% in May, according to a Commerce Department report, less than the 0.3% increase predicted by economists surveyed by Reuters US100. maintain their bullish momentum without any hurdle after publish retails sales report Nasdaq climb 0.13 % closed in green the nearest support on daily chart is 19600 and resistance 20133.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 20600.00
R2 20467.00
R1 20133.00
Turnaround 19750.00
S1 19606.00
S2 19180.00
S3 19000.00
By Research Team Wednesday, Jun 19, 2024
GOLD

    • 11.40amD1
    • High2933.00
    • Low2326.00
    • Close2333.00

XAU/USD is trading at 2329, 0.06%, up since previous day close. The price of gold is consolidating its early Wednesday recovery, Tuesday saw a significant recovery in the price of gold, which was fueled by a slight decrease in US Treasury bond yields and the release of US retail sales data. Disappointing data caused the US Fed to resurrect its expectations for a September rate cut and destroyed the US Dollar along with US Treasury bond yields resistance close to 2340, where zone 2309–2287 is the support zone

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2385.00
R2 2377.00
R1 2340.00
Turnaround 2321.00
S1 2309.00
S2 2287.00
S3 2254.00
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