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EUR/USD Rebounds to 1.0700 on Dollar Weakness; Wall St. Seeks Clarity; Gold Edges Higher.

By Research Team Thursday, Jun 27, 2024
EUR/USD

    • 11.30amD1
    • High1.0679
    • Low1.0677
    • Close1.0694

EUR/USD is trading at 1.0693, 0.13% up since previous day close. The pair gains support from the resumption of US Dollar selling combined with the decline in the USD/JPY. But given the political unrest in the EU, it seems that the pair’s upside is limited. The US dollar is under pressure to sell after a one-sided gain that gave bulls a foundation for trading other currencies, but political unrest in France is making the Euro market nervous. The pair’s resistance is at 1.0720, and support is still at 1.0662-1.0604.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0770
R2 1.0765
R1 1.0720
Turnaround 1.0688
S1 1.0664
S2 1.0605
S3 1.0605
By Research Team Thursday, Jun 27, 2024
US100

    • 11.35amD1
    • High19722.00
    • Low19632.00
    • Close19716.00

US100 is trading at 19700, 0.03% up since the previous day’s close. After brutal selloffs, Nvidia and other AI-related stocks saw a rise on Tuesday, and investors anticipated more signals on the direction of monetary policy based on statements made by Federal Reserve officials and this week’s economic data. Fed Governor Michelle Bowman stated that she is still not expecting the benchmark interest rate in the United States to drop this year. Tuesday was up 1.13%, and it is currently trading in the buying zone as a result of encouraging news from a major tech company about the potential applications of AI. closest resistance to 19800 and support for 19450.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 20200.00
R2 20118.00
R1 19800.00
Turnaround 19550.00
S1 19450.00
S2 19200.00
S3 19000.00
By Research Team Thursday, Jun 27, 2024
GOLD

    • 11.40amD1
    • High2303.86
    • Low2296.57
    • Close2399.06

XAUUSD is trading at 2299.86, 0.02%, down since previous day close. XAUUSD remains close to two-week lows, failing to show any signs of a significant rebound as it traded near $2,300 on Thursday during the European session. By the end of the June meeting, the Federal Reserve (Fed) had taken on a more aggressive posture. The XAUUSD is unsure but could eventually sell after Asian countries stopped buying and there isn’t a macro or geo event in the news. The closest resistance is 2325, and the nearest support is 2287.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2370.00
R2 2340.00
R1 2325.00
Turnaround 2304.00
S1 2287.00
S2 2277.00
S3 2265.00
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