Technical Overview - 16th June

EURUSD - Sideways Under 1.1300

The EURUSD has bumped into the 1.1300 resistance area twice from last night. Currently is trading above the support area of the sideways move, at 1.1255. A break below this area could trigger a drop in the Euro’s value against the USD. A fall in the price could end up retesting the local support from 1.1237 or even lower the lows from 1.1188. On the other hand another rally towards the resistance might end up breaking it.

EURUSD - 16t June Sideways Move


USDJPY - Rally on ‘Nothing’

The JPY has gained against the US dollar on the fact that BOJ changed nothing to its monetary policy this morning. The price broke under the key level support from 105.65 and stopped at 103.53. Currently the price is retreating and I am expecting it to retest the resistance from 105.00, sitting in between the 50% and 61.8 Fibonacci retrace.

USDJPY - 16th June Drop After Nothing


OIL WTI - Stopped the Fall

The support from 47.50 seems to have stopped the fall for OIL WTI. The sideways move might continue throughout the day. As guidelines for future price evolution I would look at the support area from 47.50, a drop below it could end up getting the price towards 46 dollars per barrel. On the upper side of the range I would keep an eye on the resistance from 48.71. A break above this level could trigger a rally towards the round number level of 50 dollars per barrel.

OILWTI - 16th June Sideways Move

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