{"id":128745,"date":"2018-06-20T07:45:58","date_gmt":"2018-06-20T11:45:58","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128745"},"modified":"2018-06-20T06:43:49","modified_gmt":"2018-06-20T10:43:49","slug":"intraday-analysis-20th-june-2018","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/intraday-analysis-20th-june-2018\/","title":{"rendered":"Intraday Analysis 20th June 2018"},"content":{"rendered":"
June 20, 2018<\/div>
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By Orbex<\/a><\/strong><\/p>\n

The U.S. dollar managed to turn fairly stronger on the day on Tuesday. Economic data was limited. The U.S. building permits data showed an increase of 1.30 million. This was slower than the estimates of a 1.35 million increase. Housing starts fared better, rising 1.35 million and marked the highest increase on a month over month basis.<\/p>\n

The market uncertainty continued with the U.S. President Trump\u00a0announcing fresh tariffs on China<\/a>\u00a0which sent the equity markets closing lower on the day.<\/p>\n

The lineup of speeches from various central bank chiefs takes precedence today. The speeches include that from the ECB President, Mario Draghi, BoJ\u2019s Kuroda, and the Fed\u2019s Powell. The central bankers are converging in Portugal for a banking conference.<\/p>\n

It was only last year that the ECB President, Draghi talked up the euro currency which sent the currency pair rallying to fresh highs.<\/p>\n

On the economic front, the U.S. existing home sales data will be coming out followed later in the evening by New Zealand\u2019s quarterly GDP report. The quarterly\u00a0GDP<\/a>\u00a0is expected to rise at a pace of 0.5%, slightly slower than the 0.6% increase that was registered in the previous quarter.<\/p>

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EURUSD intra-day analysis<\/strong><\/h2>\n

\"eurusd<\/p>\n

EURUSD (1.1574):<\/strong>\u00a0The EURUSD currency pair formed an outside bar yesterday with the intraday gains failing to hold. The currency pair closed on a bearish note. The declines came following Draghi\u2019s comments from Portugal where he\u00a0reiterated his comments from the recently held ECB meeting<\/a>. Price action was seen to be steady above 1.1539 level of support for the moment. On the 4-hour chart, the EURUSD broke out to the downside from the bearish flag pattern only to retrace the losses rather quickly. Still, a close below the previous low at 1.15594 could suggest further declines.<\/p>\n

USDJPY intra-day analysis<\/strong><\/h2>\n

\"usdjpy<\/p>\n

USDJPY (110.09):<\/strong>\u00a0The USDJPY currency pair was seen to be closing bearish but price action managed to pullback from intraday lows of 109.57. Still, the near term retracement following the downside breakout from the rising trend line is expected to keep the bias to the downside. Failure to breakout above the trend line could signal another retest back to the support level at 109.57. There is also a possibility that USDJPY could break out from the bearish flag pattern which is yet to be validated.<\/p>\n

XAUUSD intra-day analysis<\/strong><\/h2>\n

\"xauusd<\/p>\n

XAUUSD (1273.91):<\/strong>\u00a0Gold prices continued to inch lower despite the broader market sentiment. Price action is seen hovering near the 1274.50 level of support marking the lower end of the support zone at 1282 and 1274. A close below this level could signal continued decline in price action. The declines come following a period of consolidation in price action below the 1304 \u2013 1301 level of resistance. A break down below 1274 could trigger further declines to the next main support at 1242.25.<\/p>\n

\"ForexTV\"<\/a><\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex The U.S. dollar managed to turn fairly stronger on the day on Tuesday. Economic data was limited. The U.S. building permits data showed an increase of 1.30 million. This was slower than the estimates of a 1.35 million increase. Housing starts fared better, rising 1.35 million and marked the highest increase on a […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-128745","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=128745"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128745\/revisions"}],"predecessor-version":[{"id":128755,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128745\/revisions\/128755"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}