Weekly Forex Market Update & Key Levels June 22 – 26th

WEEKLY FOREX UPDATE

EURUSD – The Euro once again is battling much indecision in the week ahead from the drama of the Euro zone and Greece. I would expect more sideways price action if not deal is made this week. However, the Euro is facing an important resistance zone at around 1.1467

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USDJPY – The Dollar is pulling back to a long term support zone and could be an interesting play if executed properly. Keep this currency pair on your radar this week.

USDJPYDaily-210615

WTI – Oil is failing to break out of its trading range suggesting price consolidation. Despite what has been stated by energy analysts, OPEC has explicitly stated that they have no interest in cutting supply from the oil market. Right now, I still stand with a negative bias on the oil market unless the overhead resistance at $63 is broken.

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Chris Ferreira

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