Daily Market Reflection 20 June 2022

Market Outlook

The U.S. dollar rose in early European trade Friday, posting

strong gains against the Japanese yen after the Bank of Japan Fundamental News
maintained its ultra-easy monetary policy in contrast to the
aggressive tightening of its peers. The Dollar Index, which
tracks the greenback against a basket of six other currencies,  Russian imports may drop by 30%
traded 0.8% higher at 104.245, after slipping to a one-week low this year, says top official –Tass
of 103.41 overnight, a contrast to the two-decade high of
 U.S. manufacturing output softens;
105.79 prior to the Fed decision. Elsewhere, EUR/USD fell
leading indicator extends decline
0.4% to 1.0504, retreating from a one-week high in the wake of
the European Central Bank's decision to promise fresh support  Canada home price index growth
to contain borrowing costs among southern nations. slows pace in May - Teranet
Oil prices tumbled about 6% to a four-week low on Friday on
worries that interest rate hikes by major central banks could
slow the global economy and cut demand for energy. Also
pressuring prices, the U.S. dollar this week rose to its highest
level since December 2002 against a basket of currencies, INTRADAY SUPER STAR PREMIUM
making oil more expensive for buyers using other currencies.
Brent futures fell $6.69, or 5.6%, to settle at $113.12 a barrel,
while U.S. West Texas Intermediate (WTI) crude fell $8.03, or Date Currency Entry Exit Target/SL
6.8%, to settle at $109.56.There will be no U.S. trading on 17/06 AUDCAD(L) 0.9032 0.9072 TARGET
Monday, the Juneteenth holiday.
Date Commodity Entry Exit Target/SL
17/06 XAUUSD(L) 1834 1844 TARGET
Global Markets
World stocks on Friday closed out their steepest weekly slide
Index of the Week
since the pandemic meltdown of March 2020, as investors
SENSEX
worried that tighter monetary policy by inflation-fighting
Indian shares nosedived on Monday amid concerns
central banks could damage economic growth. The FED
that the U.S. Federal Reserve may raise interest
biggest rate hike since 1994, the first such Swiss move in 15
rates aggressively to control inflation.
years, a fifth rise in British rates since December and a move
Things to Note
by the ECB to bolster the indebted south all took turns roiling
MPC will continue to frontload policy tightening
markets. The BOJ was the only outlier in a week where
over the coming months.
money prices rose around the world, sticking on Friday with
its strategy of pinning 10-year yields near zero.
Global Currencies International Markets
Currencies Close Previous % Chg Index Value Change %
Change
GBPUSD 1.2225 1.2351 -1.02% DOW 29888.78 -38.29 -0.13%
EURUSD 1.0500 1.0547 -0.45%
NASDAQ 10798.35 +152.25 +1.43%
USDJPY 134.96 132.20 +2.09%
EURJPY 164.95 163.27 +1.03% FTSE 7016.25 -28.73 -0.41%
GBPJPY 1.1860 1.1938 -0.65% 25963.00 -468.20 -1.77%
NIKKEI
GBPCHF 1.1860 1.1938 -0.65%
SHANGHAI 3316.79 +31.40 +0.96%
USDCHF 0.9703 0.9666 +0.38%
USDCAD 1.3026 1.2949 +0.59% HANG SENG 21075.00 +229.57 +1.10%
EURGBP 0.8589 0.8536 +0.62% DAX 13126.26 +87.77 +0.67%
CHFJPY 139.17 136.71 +1.80%
COMEX
EURCHF 1.0188 1.0196 -0.08%
COMMODITY DATE DATE %
AUDUSD 0.6935 0.7044 -1.55% 17/06/22 16/06/22 CHANGE
EURAUD 1.5138 1.4966 +1.15% XAUUSD 1839.47 1856.74 -0.93%
GBPAUD 1.7626 1.7523 +0.58%
XAGUSD 21.67 21.95 -1.27%
CRUDE 110.48 117.59 -6.05%

Event Calendar (20th June 2022, Monday)

Time Currency Event Forecast Previous

6:30 pm EUR ECB President Lagarde Speaks - -
8:30 pm EUR ECB President Lagarde Speaks - -
10:15 pm USD FOMC Member Bullard Speaks - -
All Day USD Bank Holiday - -
- - - - -
- - - - - -
- - - - -
OVERVIEW
XAUUSD

XAUUSD faced strong

resistance near 1855 in the
previous session and dropped
towards near support levels.
Strength is seen till it sustains
in range of 1840-1855 while
1825 is marked as immediate
R1 R2 S1 S2 support for the metal.
1855 1863 1825 1815

XAGUSD

XAGUSD corrected from the

crucial resistance of 21.95 on
hourly charts. Major move
can be seen if it crosses the
resistance mark of 21.95 and
may move towards 22.40.
Meanwhile, 21.30 is seen as
R1 R2 S1 S2
key support for it.
22 22.20 21.40 21.20
 EURUSD

EURUSD gradually showed

downtrend during the entire
session and closed below the
previous close. Now, 1.0600 is
seen as major resistance level
from current levels whereas
hovering near or below 1.0450
may again result in weak trades. R1 R2 S1 S2
1.0550 1.0620 1.0420 1.0380

GBPUSD

GBPUSD did not sustain above

the gains so made in the previous
session and remained on weaker
side for the whole session. Again,
1.2380 is seen as immediate
resistance for the currency pair
and 1.2040 is seen as crucial
support.
R1 R2 S1 S2
1.2340 1.2380 1.2140 1.2090
INTRADAY SUPER STAR(PREMIUM)

AUDCHF closed below the support

levels on daily charts and may extend
bears in coming session.
SELL BELOW 0.6715 TARGETS
0.6695/0.6675 SL ABOVE 0.6735.

SILVER is observed consolidating

XAUUSD on hourly
in a pattern chart,
expected to shows pattern
move up
which is from
positively biased and
the drawn level. may bring
the metal northwards.
BUY ABOVE 22.78 TARGETS
BUY ABOVE 1845 TARGETS
22.93 SL BELOW 22.631850/1855
SL BELOW 1840.
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