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16 June 2022
Daily Analysis Report
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Asian Bulle n: U.S. dollar depreciated sharply against major peers a er Fed raised funds rate by 75 basis points to 1.75 pct, Asian stock markets in green, gold hovers around $1,830 mark
Key Headlines:
• FOMC raised Funds rate at 1.75 pct vs 1.00 pct previous release.
• New Zealand GDP q/q stands at -0.2 pct vs 3.0 pct previous release.
• Japan Trade balance stands at -1.93T vs -1.58T previous release.
• Australia MI Infla on Expecta ons stand at 6.7 pct vs 5.0 pct previous release.
• Australia Employment Change stands at 60.6K vs 4.4K previous release.
• Australia Unemployment Rate remains unchanged at 3.9 pct.
• FOMC - Fed Says Balance Sheet Reduc on Will Proceed As Planned.
• FOMC - 'Highly A en ve' To Infla on Risks.
• FOMC - Job Gains Are Robust, And Unemployment Has Remained Low.
• FOMC - Fed Sees Rates at 3.4% End-2022, 3.8% End-2023, 3.4% End-2024 – BBG.
• FOMC - Fed Officials See Infla on Of 5.2% at End Of 2022; 2.6% for 2023.
• FOMC - Fed Officials See Unemployment At 3.7% at End of 2022; 3.9% for 2023.
• FOMC - Fed Policymakers' Projec ons Show They Expect to Start Cu ng Rates in 2024.
• The Czech Na onal Bank is likely to raise its main rate by at least 75 basis points at its June 22 board policy mee ng, Vice-Governor Tomas Nidetzky was quoted as saying on
Wednesday – Reuters.
• Thailand's central bank said on Wednesday it was closely monitoring capital movements and the baht currency and was ready to take ac on on any excessive vola lity – Reuters.
• Shut out of the bond market and spurned by banks, a growing number of cash-starved Chinese local government financing units are tapping a loosely regulated funding channel to
directly court yield-hungry retail investors - Reuters.
• Bank of America is rolling out a new cash management tool to U.S.-based clients, it said on Tuesday, in a bid to gain market share in the $300 billion cash management business for
mul -na onal corpora ons – Reuters.
• The average interest rate on the most popular U.S. home loan climbed to its highest level since the 2008 financial crisis and purchase applica ons were down more than 15% from
last year, Mortgage Bankers Associa on (MBA) data showed on Wednesday – Reuters.
• IKEA said on Wednesday it would sell factories, close offices and reduce its nearly 15,000-strong workforce in Russia, the latest move by the world's biggest furniture brand to cut its
opera ons there following Moscow's invasion of Ukraine – Reuters.
• Japanese Prime Minister Fumio Kishida said on Wednesday he expected the Bank of Japan (BOJ) to s ck to a 2% infla on target, when asked about a possibility the central bank may
adjust its massive s mulus to stem the yen weakening – Reuters.
• European Central Bank's policymakers were holding a rare, unscheduled mee ng on Wednesday to discuss a blowout in borrowing costs for some euro zone na ons, fanning
specula on the bank may be gearing to act to calm markets – Reuters.
• Global equity funds have shed over 7% this month due to a slump in stock prices as higher infla on levels fuel worries about more aggressive policy ghtening by major central
banks – Reuters.
Key Economic Indicators Ahead:
• (0730 GMT/1300 IST) Swiss Interest Rate Decision, previous 0.75, expected 0.75.
• (1100 GMT/1630 IST) U.K. Interest Rate Decision, previous 1.00, expected 1.25.
• (1230 GMT/1800 IST) U.S. Philly Fed Manufacturing Index, previous 2.6, expected 5.1.
• (1230 GMT/1800 IST) U.S. Unemployment Claims Weekly, previous 229K, expected 215K.
• (1230 GMT/1800 IST) U.S. Building Permits, previous 1.82M, expected 1.78M.
• (1230 GMT/1800 IST) U.S. Housing Starts, previous 1.72M, expected 1.70M.
Economic Events Ahead:
• All Day – Eurogroup Mee ngs.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.21% to 104.94 points.
3. AUD / USD
BUY SELL
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Technical Summary
Trend Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
0.7030
R2 S2
0.7055
R3 S3
0.7072
R4
Commentary
S4
0.7099
Buy Above 0.7030
0.7061
0.7004
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6992
0.6958
0.7028
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie appreciates on Thursday after mixed employment results and jumps back
above $0.7000 mark. Today pair made intraday high at $0.7035 and low at $0.6992 mark.Aday chart
is down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$0.7030 on H1 chart requires for the upside rally. Alternatively, a consistent close below $0.6998 will
check further supports.
0.6990
0.6965
0.6950
0.6921
JUNE,
2022
4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0460
R2 S2
1.0476
R3 S3
1.0499
R4
Commentary
S4
1.0526
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-
Time Frame: H1
EUR/USD: The euro moves in rigid boundaries ahead of Eurogroup’s meeting and hovers around
$1.0450 mark. The pair made intraday high at $1.0469 and low at $1.0431 mark. Today triple EMAon
a day chart and H1 chart suggest bearish trend for the time being. A consistent close above $1.0460
on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.0415 on H1 chart
will check further supports.
EUR / USD
1.0415
1.0400
1.0384
1.0365
Buy Above 1.0470
1.0502
1.0446
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0422
1.0389
1.0450
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
JUNE,
2022
5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2178
R2 S2
1.2199
R3 S3
1.2226
R4
Commentary
S4
1.2250
Buy Above 1.2189
1.2240
1.2148
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2131
1.2091
1.2165
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
GBP/USD: The sterling trades flat ahead of U.K.’s Interest Rate Decision and stabilizes around
$1.2150 mark. Today pair made intraday high at $1.2189 and low at $1.2141 mark. A day chart is
down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$1.2178 on H1 chart will check key resistances. Alternatively, a consistent close below $1.2130 will
check further supports.
USD
1.2130
1.2112
1.2086
1.2055
GBP/
Trends Up Trend
Moving Average (Period=75) Above MA
RSI (Period=26) Above RSI LEVEL 50
JUNE,
2022
6. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26 Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.2911
R2 S2
1.2940
R3 S3
1.2965
R4
Commentary
S4
1.2999
Buy Above 1.2916
1.2952
1.2888
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2855
1.2820
1.2890
– Take Profit
– Stop Loss
Trade Idea
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analysis@tpglobalfx.com
-
Time Frame: H1
USD/CAD: The CAD trades in narrow range on Thursday and hovers around 1.2900 mark. Today the
pair made intraday high at 1.2895 and low at 1.2860 mark. Today a day chart is up and H1 chart with
triple EMA suggests down trend for the time being. A sustained close above 1.2911 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 1.2865 on H1 chart will check key
supports too.
USD /CAD
1.2865
1.2840
1.2821
1.2801
JUNE,
2022
7. BUY SELL
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Technical Summary
Trend Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
134.70
R2 S2
134.99
R3 S3
135.31
R4
Commentary
S4
135.58
Buy Above 134.65
135.05
134.32
– Take Profit
– Stop Loss
Trade Idea
Sell Below 133.99
133.50
134.32
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen trades marginally lower as trade balance data misses expectations.
The pair made intraday high at 134.67 and low at 133.67 mark. The triple EMAon a day chart is up and
H1 chart suggests down trend for the time being.Asustained close above 134.65 on H1 chart requires
for the upside rally. Alternatively, a consistent close below 134.00 on H1 chart will check further key
supports.
USD /JPY
134.00
133.81
133.50
133.21
JUNE,
2022
8. BUY SELL
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Technical Summary
Trend Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1838
R2 S2
1842
R3 S3
1848
R4
Commentary
S4
1854
Buy Above 1838
1845
1831
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1828
1821
1834
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold strengthened sharply in previous session as Fed official raised funds rate by
75 basis points. Today the pair made intraday high at $1,836 and low at $1,829 mark. A day chart is
down and H1 chart with triple EMA suggests up trend for the time being. A sustained close above
$1,838 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,828 on H1
chart will test further supports. Later today U.S. Philly Fed manufacturing Index data will remain in
focus.
XAU [GOLD]
USD
/
1828
1822
1818
1812
JUNE,
2022
9. Thank
you!
Info@tpglobalfx.com
www.tpglobalfx.com
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