Trade Tensions:
Trump has threatened higher tariffs on Japan, criticising its refusal to import U.S. rice.
The EU is open to a trade deal with the U.S. involving a 10% universal tariff on many exports, but seeks lower rates for key sectors like pharmaceuticals and semiconductors.
Markets:
U.S. equity futures are steady after the S&P 500 posted its best quarter...
The EURAUD currency pair maintains a bullish bias, underpinned by the prevailing upward trend. Recent sideways consolidation in intraday price action suggests a potential continuation pattern within the broader uptrend.
The key level to watch is 1.7880, marking the lower boundary of the recent consolidation range. A corrective pullback toward this level, followed...
The EUR/CHF pair remains under bearish pressure, aligned with the prevailing downtrend. Price action is currently consolidating below the key resistance level at 0.9330, which marks a prior intraday congestion zone.
A rebound toward 0.9330 could present a selling opportunity, with a potential bearish rejection targeting support levels at 0.9300, followed by...
The EURUSD currency pair continues to exhibit a bullish price action bias, supported by a sustained rising trend. Recent intraday movement reflects a sideways consolidation breakout, suggesting potential continuation of the broader uptrend.
Key Technical Level: 1.1640
This level marks the prior consolidation range and now acts as pivotal support. A corrective...
Trend Overview:
The DAX index maintains a bullish overall sentiment, supported by a sustained rising trend on the higher timeframes. However, recent intraday price action suggests a corrective pullback and consolidation phase, likely part of a broader continuation pattern.
Key Support and Resistance Levels:
Support:
Initial support: 23,330 – a key previous...
Major Economic Data:
US:
ISM Manufacturing (June) and JOLTS job openings (May) – Key for Fed rate cut outlook.
Construction spending and vehicle sales – Insight into economic strength.
Dallas Fed services – Regional business sentiment check.
China:
Caixin Manufacturing PMI (June) – Watch for signs of continued slowdown.
Japan:
Tankan Survey (Q2) – Key...
Trend Overview:
The AUDUSD currency price remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.6465 (primary pivot), followed by 0.6445 and 0.6400
Resistance: 0.6570...
Trend Overview:
The NZDUSD currency price remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.6000 (primary pivot), followed by 0.5985 and 0.5950
Resistance: 0.6100...
The USDCHF pair remains under bearish pressure, consistent with the prevailing downtrend. Recent price action has transitioned into a sideways consolidation, suggesting a pause in bearish momentum but not a reversal.
The key technical level to monitor is 0.8050, which marks a prior intraday consolidation zone and acts as immediate resistance. Should the pair...
Silver – Technical Analysis
The Silver price action continues to exhibit a bullish sentiment, underpinned by a prevailing rising trend. However, recent intraday moves indicate a corrective pullback, reflecting short-term consolidation within the broader uptrend.
Key Technical Levels:
Support:
3,500 – Primary support and previous consolidation zone; critical...
The Gold remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 3245 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3245 would confirm ongoing upside momentum, with potential targets at:
3310 – initial...
Trend Overview:
EURGBP remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.8510 (primary pivot), followed by 0.8490 and 0.8470
Resistance: 0.8570 (initial), then...
The GBPAUD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 2.0880 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 2.0880 would confirm ongoing upside momentum, with potential targets at:
2.1060 – initial...
The GBPUSD currency pair continues to exhibit a bullish price action bias, supported by a sustained rising trend. Recent intraday movement reflects a sideways consolidation breakout, suggesting potential continuation of the broader uptrend.
Key Technical Level: 1.3600
This level marks the prior consolidation range and now acts as pivotal support. A corrective...
The FTSE remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 8695 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 8695 would confirm ongoing upside momentum, with potential targets at:
8820 – initial...
A packed data slate and central bank commentary will shape market sentiment today. Key focus will be on China’s official PMIs for June, offering the first major insight into the health of the global manufacturing cycle as Q3 begins. A soft print could amplify global growth concerns, while a surprise to the upside may support risk sentiment across Asia and...
Silver – Technical Analysis
The Silver price action continues to exhibit a bullish sentiment, underpinned by a prevailing rising trend. However, recent intraday moves indicate a corrective pullback, reflecting short-term consolidation within the broader uptrend.
Key Technical Levels:
Support:
3,500 – Primary support and previous consolidation zone; critical...
WTI crude oil is trading just above a two-week low of 6400, as demand concerns continue to weigh on prices.
The pressure comes from uncertainty around President Trump’s tariff policy, which could worsen when the current 90-day pause ends on July 9. So far, only a minor trade deal with the UK has been reached, adding to fears of a global slowdown and weaker oil...
