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Futures June 30, Economies.com analysts latest view today: At the beginning of this week, gold prices hit our previously set support target of $3,250. This decline gave gold prices some upward momentum, helping it to rebound and reduce most of the early losses. This rebound strengthened the beginning of the positive divergence formation on the relative strength index (RSI), and with the emergence of positive signals, the overall technical outlook is still affected by negative pressure, as the dominance of the short-term bearish correction trend continues and is accompanied by a bearish trend line. Therefore, our expectations indicate that gold prices will rise in the next intraday trading, provided that the support level of $3,250 can remain stable, with the goal of retesting the main resistance level of $3,300. The trading range is expected to be between the support level of $3,220 and the resistance level of $3,320. Todays forecast: bullish.S&P Global Ratings: Korean companies will face challenges of structural transformation.The South Korean won rose 1% against the dollar during the day.Futures June 30, Economies.com analysts latest view today: In the short term, the bearish correction trend is dominant, and it brings continuous negative pressure due to the trading price below EMA50. WTI crude oil prices formed a negative technical pattern in the recent decline, namely the bearish flag pattern, increasing the possibility of continued decline. The negative signal of the relative strength index (RSI) reinforces this scenario, especially after reaching the oversold level, which indicates that the bullish momentum is weak and increases the possibility of continued decline in the next trading. Therefore, we expect crude oil prices to fall below the support level of $63.70 and approach the next support level of $59.75 in the next intraday trading. The trading range is expected to be between the support level of $61.50 and the resistance level of $66.40. Todays forecast: bearish.Japans new housing starts in May were -34.41% year-on-year, in line with expectations of -14.8% and the previous value of -26.60%.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.


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