DAILY TECHNICAL ANALYSIS FOR JUNE 22, 2023petar skakalov
Current level – 1.0991
During the past session, the single European currency managed to gain ground against the dollar. The bulls managed to break through and settle permanently above the resistance at 1.0953. They are likely to attack the next level at 1.1009. If they fail to hold above it, the bears would once again take the upper hand, heading for the support at 1.0953, but even if they break it, their strength would probably last till the next level at 1.0904. The important news today that could influence the rate are the weekly jobless claims and new home sales in the U.S. at 12:30 GMT.
Current level – 141.68
With the Ninja, the resistance at 142.23 is supporting the bulls for now, but this is likely to be temporary. If the bears breach the level at 141.30, it is possible that they will reach the second support at 140.43 for a correction, but there we will probably see a consolidation and a resumption of the upward movement.
Current level – 1.2765
After the pound’s two-day negative correction, we are likely to see a consolidation and a resumption of upward movement. However, today at 11:00 GMT the Bank of England will announce the change in interest rates, as well as a report on monetary policy. This can change the sentiment of traders. High volatility is expected.
Gold price loses momentum
Gold prices attempted to break the minor support 1929.00 but it returns to fluctuate above it, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish bias to head towards our next main target at 1913.15.
Therefore, our bearish overview will remain valid and active, organized inside the bearish channel that appears on the chart, noting that breaking the targeted level will extend the bearish wave to reach 1873.50 areas, while breaching 1945.20 will stop the expected decline and lea the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1915.00 support and 1945.20 resistance.
The expected trend for today: Bearish
Source: Technical analysis