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Thread: Daily Market Analysis

Daily Market Analysis
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    USD/JPY Technical Analysis: June 22, 2017
    During the Wednesday session, the USD/JPY pair dropped although it attained the 111.75 region since there is sufficient buying pressure from traders. Currently, the market is trying to bring the price down amid high volatility the being uncertainty in the market. Eventually, it is anticipated to reach the 112 level or up to 112.50 level later on.
    The interest rate differential will still favor the U.S. dollar since the Federal Reserve will most likely implement its rate hike prior to the Bank of Japan. Hence, this will put the pair in a bullish tone although it might need to pull back until there is enough value to gain from going long in this pair. In the meantime, the 111 level below continues to supportive.
    In long-term, there is a high chance for the pair to be directed upward and reach the 115 region in the next few months. There is a massive floor seen at 110 level below and in times of pullbacks, it will be more appealing for buyers to jump in the market.
    A selloff is highly probable to happen for the Japanese yen when the stock market surges which will also influence the pair and other yen related pairs to move higher. Also, the U.S. dollars will benefit from the U.S. stock market as it performs a notch better than others and the current interest rate outlook of Fed in the next years to come.
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    AUD/USD Technical Analysis: June 23, 2017
    The Australian dollar pair had a choppy trading session on Thursday as it lingers around the 0.7550 region. In general, there will be volatility in the market for short-term that makes it more difficult to put in money. If the pair breaks higher than the 0.7560 level, the market will proceed to move up towards the 0.76 mark.
    A massive support is found underneath and there will be more buyers found if given enough time. It might be best to wait for a sudden turnaround of the gold market to change the current sentiment and turn into a bullish pressure to reverse the current trend.
    If the pair breaks lower than the 0.75 level, the market could further decline possibly towards the 0.73 region. Expect buyers to dominate the market with a choppy downward nature of the trend.
    The latest GDP of Australia has surpassed expectations as it came in stronger which affects the mindset of traders. As a buyer, a formation of the impulsive candle is needed to turn bullishness into an advantage. Hence, it is wise to wait on the sidelines and see what the market dictates before buying the pair.
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    EUR/GBP Technical Analysis: June 23, 2017
    The Euro against the British pound moved sideways as the 0.88 handle remains supportive. The market is trying to gather enough momentum to climb higher but it won’t be a simple thing.
    There are several headlines that would affect this pair to move to and fro especially the Brexit negotiations. Overall the market is sensitive to sudden changes that are why traders should be cautious in placing orders. Nevertheless, it seems that the uptrend will persist to move forward that can be taken as an opportunity to pose bigger positions for the long-term in trading.
    The major events will determine the next move although there is still a large gap that hasn’t been filled below. Although, aggressive pullbacks are highly probable to happen while the gap would imply a heavy buying pressure below the channel.
    It is advisable to trade in smaller positions and add on as a trader moves forward because of choppiness in the market. Augment as one gain profits but there are also risks on hand when an unexpected turnaround against the trades.
    Hence, trade in small quantities or make use of other options are the ideal course of action in trading this pair since there will be a lot of noise and volatility in the market amid Brexit negotiations
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