Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Currency Pairs Analysis Today.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="forum forex, post: 210012, member: 78402"] [HEADING=1]June-28, 2022, Daily latest currency pairs analysis and forex market forecast, by forex forum.[/HEADING] [IMG alt="Daily latest currency market forecast, june-28, 2022"]https://www.forum.forex/attachments/daily-forex-market-forecast-and-currency-trading-analysis-copy-jpg.3064/[/IMG] The US Dollar has spent much of the past two weeks pulling back, with the FOMC rate decision in the middle of June as the defining line. While the Fed didn’t necessarily say anything dovish there, the USD hasn’t yet been unable to take out or even test the high that was set just as the FOMC statement was released. That pullback had taken on a somewhat orderly fashion, with a series of lower-highs to go along with horizontal support at 103.82. That price was the high in 2017 and it held as the five-year-high until it began to be tested in April, eventually giving way to bullish pressure in the month of May. [B]EUR/USD[/B] On the other hand, A key push-point for this theme in the USD has been EUR/USD. Going along with that descending triangle in the US Dollar, EUR/USD had built the mirror image formation with an ascending triangle. Resistance was from the same 1.0593-1.0638 zone that’s been in-play as resistance in May and then support in early-June. That zone has seen three separate resistance tests since mid-June with bulls making slightly higher-highs each time. If sellers can pose a breach, follow-through support exists around 1.0450 and then 1.0357. If bulls can hold the low while forcing a late-quarter turn-around, next resistance beyond 1.0593 is the 1.0638 level, followed by a spot at 1.0695 and after that, the bigger zone of resistance running from 1.0767-1.0787. [B]USD/JPY[/B] The USD/JPY pair built on its steady intraday ascent through the early North American session and shot to a fresh three-day high, around the 136.30 region in the last hour. The intraday bullish momentum, also marking the third successive day of a positive move, could further be attributed to some technical buying above the 136.00 round-figure mark. This, in turn, might have already set the stage for an extension of the upward trajectory, back towards retesting a 24-year high, around the 136.70 region touched last week. Moving ahead, the market focus now shifts to Fed Chair Jerome Powell's appearance on Wednesday. Market participants will look for clues about the US central bank's policy tightening path. This will play a key role in influencing the near-term USD price dynamics and help investors to determine the next leg of a directional move for the USD/JPY pair. [HEADING=2]Russian Ruble[/HEADING] The rouble rallied past 52 against the dollar to a more than a seven-year high on Tuesday as capital controls and month-end taxes offset the negative impact of Western statements that Russia has defaulted on its international bonds. The rouble hit 50.6125 against the dollar in Moscow trade for the first time since late May 2015, and jumped to 54.40 against the euro, a level last seen in April 2015. As of 1523 GMT, the rouble gained nearly 3% to 51.88 against the greenback and was at 54.71 against the euro, gaining more than 2.5% on the day. Market players "see the current levels as attractive for purchasing hard currency, especially in light of the recent comments from Russian officials indicating that the rouble has become too strong," Sberbank CIB said in a note. On the stock market, the dollar-denominated RTS index rose 2.5% to 1,464.1 points. The rouble-based MOEX Russian index was 0.3% lower at 2,409.1 points. [B]EUR/GBP[/B] The pound may not receive a lasting support from the Bank of England, even if it accelerates rate hikes, as investors override concerns about UK investment and growth, explain analysts at Rabobank. The BoE was quicker out of the blocks on policy tightening than many other G10 central banks this cycle. However, the five interest rate hikes announced by the BoE already have not prevented the pound from being one of the poorest performing G10 currencies in the year to date. A step up in the pace of BoE rate hikes, may not provide the pound with much lasting support given investors overriding concerns about UK investment and growth. We see scope for EUR/GBP to end the year around 0.88. [HEADING=3]USD/CAD[/HEADING] Elsewhere, USD/CAD fell 21 pips to 1.2875 as the rebound in oil prices continued. The US dollar was mixed as high yields and good economic data competed with end-of-month flows into some beaten-down currencies. The main feature on the USD/CAD chat is the double top at 1.3077/79. The declines in the past two days emphasize that as a key point of resistance and a potential top. The next hurdle to cross will be the June 16 low of 1.2861, which is about a dozen pips away but has held on a handful of pushes lower today. If that gives out, the 55-day moving average clocks in at 1.2783. Thank You [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…