Alpari - Analytics

Alpari

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Daily analytical report (17/06/17)

  • This was a very eventful week, especially on Wednesday after the interest rate decision in the US and after we found out their economic projections.
  • EURUSD combined technical analysis and fundamentals. The Fed was supported by the inverse head and shoulder formation and by the correction equality pattern. Sentiment stays positive and we should see the price near the 1.0840 mark anytime soon.
  • AUDUSD also was supported by both types of market analysis. Fundamentally weaker USD after FOMC and from a technical point of view, we had a flag and iH&S - both pointing North.
  • Gold and AUDUSD are highly correlated with each other. On both instruments, we saw an upswing. On gold, we managed to come back above 1220 USD/oz, which will now be the closest support. Bullish sentiment is back on XAUUSD and we can expect that we will soon test the resistance on the 1245 USD/oz.

 



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