Register for MT4 Demo Account

Register for xStation Account

Sideways Momentum Can be Seen in Markets Ahead of FOMC Meet

By Research Team Tuesday, Jun 14, 2022
USD/JPY

    • 9.10amD1
    • High134.815
    • Low133.871
    • Close134.676

USD/JPY is trading at 134.692, 0.03% down since previous day close. The depreciation in YEN continued to be seen since last two sessions against the strong USD after U.S showed a rise in inflation rate by 1.0% higher than expectation 0.7% which strengthens the U.S rate hike stance in upcoming meeting. The ECB’s chances raising interest rate in the next meeting led a weakness in global currencies. Last week, the Japan’s PPI grew by 9.1% against previous figure 9.8% & the Current Account surplus rose to 0.51T against the expectation 0.40. The result of Trade Balance data will remain in focus later in this week. As seen in the chart, the Fibonacci Expansion shows further weakness in JPY & Fibo level 61.8 can be expected as next possible target. Selling in USD/JPY may be recommended.

Read More… Read Less

Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 137.54400
R2 135.94300
R1 135.09000
Turnaround 134.34200
S1 133.48900
S2 132.74100
S3 131.14000
By Research Team Tuesday, Jun 14, 2022
SILVER

    • 9.48amW1
    • High21.212
    • Low21.091
    • Close21.209

Silver is trading at $21.162, 0.04% up since previous day close. The sideways trading can be seen in Silver against stronger USD ahead of the Fed meeting which is to be concluded on late Wednesday with a hope of rate hike stance. Last week, the chances of no interest rate hike in U.S in later half of the year & easing down of lockdown restrictions in few Chinese cities led buying side in precious metals since the above factor can retain the consumption demand of commodities. Besides this, ongoing conflicts between Russia & Ukraine may remain vital for riskier assets. As seen in the chart, the Silver is trading near major support level & hence, the cautious trading may be recommended for the day.

Read More… Read Less

Daily Outlook

SILVER

Intra Day
Near Day

Technical Levels

R3 23.23900
R2 22.87200
R1 21.70800
Turnaround 21.33500
S1 20.75600
S2 20.38300
S3 19.43100
By Research Team Tuesday, Jun 14, 2022
INDIA50

    • 9.32amW1
    • High15745
    • Low15643
    • Close15733

INDIA50 is trading at 15718, 0.13% down since previous day close. The flat to lower side momentum can be seen in SGX Nifty on Tuesday; following a sharp fall on Monday after U.S issued poor CPI data; showcasing a rise in inflation rate by 1.00% higher than expectation. However, on technical ground, the index is trading near major support of 15600 which also acts as cluster support & hence, market sentiments steadies at current level. Globally, easing down of lockdown restrictions in China strengthens pushes up the Asian shares to some extent. The outcome of key Central Banks’ meeting like FOMC, BoE & SNB will remain significant for the indices. As seen in the chart, the index is hovering near support level & hence, make or break situation can be recommended for the day.

Read More… Read Less

Daily Outlook

INDIA50

Intra Day
Near Day

Technical Levels

R3 16327.00000
R2 16037.00000
R1 15859.00000
Turnaround 15747.00000
S1 15569.00000
S2 15457.00000
S3 15167.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

© 2022 XFlow Markets LLC, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

  • triangle.png
  • Regulated by FSA

    The interests of XFlow Markets clients are protected by the Financial Commission’s Compensation Fund for up to USD 150,000 per claim.

XFlow Markets is incorporated in Saint Vincent and the Grenadines with registration no. 255 LLC governed by the Limited Liability Companies Act Chapter 151, registered by the Financial Service Authority of Saint Vincent and the Grenadines.

XFlow Markets is not required to hold any financial services license or authorization in Saint Vincent and the Grenadines to offer its products and services.

Telephone number: +44 20 3835 5241 Working hours: 7:00 AM - 5:00 PM (GMT+0)