DAILY TECHNICAL ANALYSIS FOR JUNE 21, 2022petar skakalov
Current level – 1.0532
Volatility during yesterday’s trading session remained muted and the single European currency continues to consolidate between the two key levels at 1.0470 and at 1.0580. Neither the bears nor the bulls can boast a breakthrough on any significant level, but if the bulls manage to breach the mentioned range, then the next resistance for them would be the level at 1.0640. An increase in short EUR volumes to an extent, to which the bears could manage to overcome the range, would mean that the next key resistance in front of them would be placed at 1.0400. Important news for today that would help develop the above scenarios is the data on existing home sales in the United States (14:00 GMT).
Current level – 135.07
The non-working day in the United States also affected the Ninja as it resulted in lower liquidity, which led to sharp moves in both directions. From the start of today’s trading session to the time of writing the analysis, the pair fluctuated only a few pips, however this calm state will most likely not last during today’s session. If we witness increased market activity, then the bears would first have to overcome the support at 134.60. In order to find the next resistance for the bulls, we would have to go back several years until we reach the historic level of 138.50. This week, no major news that could affect the Japanese yen is expected from the land of the rising sun.
Current level – 1.2267
As with the other currencies, the sterling didn’t experience any large movements yesterday and volatility remained muted. Still, the day was more profitable for the bulls as they were able to record a jump of around half a figure at the time of writing the analysis. If they maintain their momentum, then they could face resistance at 1.2380. If, on the other hand, the bears manage to attract the market’s attention, a more stubborn obstacle in front of them would be the support at 1.2180.
Gold price shows weak trades
Gold price fluctuates within tight range since yesterday, hovering around the EMA50, and as long as the price is above 1830.00, the bullish trend scenario will remain active for the upcoming period, supported by stochastic positivity, depending on the formation of the higher lows that was formed recently, waiting to breach 1850.00 to confirm rallying towards our positive targets that start at 1890.00 and extend to 1925.35.
The expected trading range for today is between 1825.00 support and 1870.00 resistance.
The expected trend for today: Bullish
Source: Technical analysis