Thursday, June 30, 2022 marketupdate@ICMCapital.co.uk
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Market Comment
NA
Calendar
07:00 GE MAY Import Prices (MoM) exp: 1.4% prev: 1.8%
07:00 GE MAY Retail Sales (MoM) exp: 0.9% prev: -5.4%
07:00 UK 1Q Current Account (B GBP) exp: -39.6 prev: -7.3
07:00 UK 1Q F GDP (QoQ) exp: 0.8% prev: 0.8%
07:45 FR JUN P Consumer Price Index (MoM) exp: 0.7% prev: 0.7%
07:45 FR JUN P CPI - EU Harmonised (MoM) exp: 0.8% prev: 0.8%
07:45 FR MAY Households Consumption (MoM) exp: 0.2% prev: -0.4%
07:45 FR MAY Producer Price Index (MoM) exp: NA prev: 0%
08:55 GE JUN Unemployment Change (k) exp: -5.2 prev: -4
08:55 GE JUN Unemployment Rate exp: 5% prev: 5%
10:00 EC MAY Euro-Zone: Unemployment Rate exp: 6.8% prev: 6.8%
13:30 US MAY Personal Income exp: 0.5% prev: 0.4%
13:30 US MAY Personal Spending exp: 0.4% prev: 0.9%
13:30 US W25 Initial Jobless Claims (k) exp: 227 prev: 229
14:45 US JUN Chicago Purchasing Manager Index exp: 57.4 prev: 60.3
Forex Last %1D %YTD
EUR/USD 1.0442 -0.73 -8.20
USD/JPY 136.62 0.36 18.70
GBP/USD 1.2123 -0.50 -10.40
Commodities Last %1D %YTD
Gold 1,818.4700 -0.08 -0.60
Silver 20.7623 -0.37 -10.90
Crude Oil 109.4900 -2.03 51.70
EUR/USD intraday: the downside prevails as long as 1.0471 is resistance Next
Our pivot point is at 1.0471.

Our preference: the downside prevails as long as 1.0471 is resistance.

Alternative scenario: above 1.0471, look for 1.0504 and 1.0524.

Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0479 and 1.0502).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
EUR/JPY intraday: the downside prevails as long as 143.28 is resistance Previous  | Next
Our pivot point is at 143.28.

Our preference: the downside prevails as long as 143.28 is resistance.

Alternative scenario: above 143.28, look for 144.05 and 144.51.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 142.89 and 143.09).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
GBP/USD intraday: rebound towards 1.2210 Previous  | Next
1.2075 is our pivot point.

Our preference: rebound towards 1.2210.

Alternative scenario: the downside breakout of 1.2075 would call for 1.2027 and 1.1998.

Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2137 and 1.2168).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
GBP/JPY intraday: the downside prevails as long as 166.31 is resistance Previous  | Next
166.31 is our pivot point.

Our preference: the downside prevails as long as 166.31 is resistance.

Alternative scenario: the upside breakout of 166.31, would call for 167.20 and 167.74.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 165.68 and 165.82).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
USD/JPY intraday: as long as 135.97 is support look for 137.91 Previous  | Next
Our pivot point stands at 135.97.

Our preference: as long as 135.97 is support look for 137.91.

Alternative scenario: the downside breakout of 135.97 would call for 135.23 and 134.79.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (136.60) but above its 50 period moving average (136.31).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
USD/CAD intraday: the upside prevails as long as 1.2863 is support Previous  | Next
Our pivot point is at 1.2863.

Our preference: the upside prevails as long as 1.2863 is support.

Alternative scenario: the downside breakout of 1.2863 would call for 1.2822 and 1.2798.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2876 and 1.2873).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Crude Oil (WTI) (Q2) Intraday: the downside prevails. Previous  | Next
Pivot: 110.85

Our preference: short positions below 110.85 with targets at 108.10 & 107.00 in extension.

Alternative scenario: above 110.85 look for further upside with 111.80 & 112.50 as targets.

Comment: the break below 110.85 is a negative signal that has opened a path to 108.10.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Brent (ICE) (U2) Intraday: further advance. Previous  | Next
Pivot: 112.70

Our preference: long positions above 112.70 with targets at 116.90 & 118.00 in extension.

Alternative scenario: below 112.70 look for further downside with 111.80 & 110.90 as targets.

Comment: the next resistances are at 116.90 and then at 118.00.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Dow Jones (CME) (U2) Intraday: key resistance at 31150.00. Previous  | Next
Pivot: 31150.00

Our preference: short positions below 31150.00 with targets at 30760.00 & 30540.00 in extension.

Alternative scenario: above 31150.00 look for further upside with 31310.00 & 31500.00 as targets.

Comment: as long as the resistance at 31150.00 is not surpassed, the risk of the break below 30760.00 remains high.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Gold intraday: the downside prevails as long as 1831.50 is resistance Previous 
1831.50 is our pivot point.

Our preference: the downside prevails as long as 1831.50 is resistance.

Alternative scenario: above 1831.50, look for 1847 and 1856.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Gold stands below its 20 and 50 period moving average (respectively at 1820.50 and 1819.90).

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

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