Morning Insights 16th June

Simon Alagbe

Analyst

Instrument: US30

Intraday: Bullish

Technical Analysis

Preference: Buy position is envisaged if prices trade above 26135 with take profit at 26591.

Alternative scenario: Sell position is envisaged if prices trades below 25889 with take profit at 25373.

Fundamentals:

USD Core Retail Sales m/m (USD)  1:30PM 

Fed Chair Powell Testifies (USD) 3:00 PM

Comment: Stocks has been on an upward move this week and they look to go higher. Technically, on the D1 we see that the instrument closed above the 200EMA and its heading upwards, a buy would be advised.





Instrument: NZDUSD

Intraday: Bullish

Technical Analysis

Preference: A Buy is in order if prices trade above 0.64624 with take profit at 0.65055

Alternative scenario: Sell is in order if price trades below 0.64347 with take profit at 0.63931.

Fundamentals:

Core Retail Sales m/m (USD) 1:30 pm

Retail Sale m/m (USD) 1:30 pm

Fed Chair Powell Testifies 3:00pm

Comment: Technically on the H1 there is bottom out on the bearish trend and we are either looking at a trend reversal or a minor retracement. The Fundamental news by 1:30 pm would have a major impact on the market direction for today.

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