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Technical Analysis:Your Daily Dose of Market Insights, June 16, 2023

Headlines:


- Weaker US dollar made oil more affordable for buyers, supporting positive sentiment in the market.

- Federal Reserve maintains borrowing costs but signals higher likelihood of future rate increases, raising concerns about economic growth.

- European Central Bank raises euro zone borrowing costs to combat high inflation, indicating potential for further rate increases.

- Bank of Japan maintains ultra-easy monetary policy to support fragile economic recovery despite stronger-than-expected inflation.

- Market outlook reflects a mix of optimism from China's stimulus measures and cautiousness due to concerns over higher interest rates.

Key event today:

  • US University of Michigan consumer sentiment

 

Dollar Index (DXY) Intraday:


Pivot Level: 102.53


Dollar Index, DXY  Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Gold Intraday:


Pivot Level: 1935.82


XAU/USD Gold Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

USD/JPY Intraday:


Pivot: 140.57


USD/JPY Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.


AUD/USD Intraday


Pivot: 0.6847


AUD/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Crude Oil (WTI)‎ Intraday


Pivot: 70.14


WTI Crude oil Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

USD/CAD Intraday:


Pivot: 1.3263


USD/CAD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

EUR/USD Intraday:


Pivot: 1.090

EUR/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

GBP/USD Intraday:


Pivot: 1.273


GBP/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

EUR/GBP Intraday:


Pivot: 0.8566


EUR/GBP Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Nasdaq 100 Intraday


Pivot:

15,120.74


Nasdaq 100 stock index Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

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