Weekly Overview 27/6/2022

US Dollar Index

The dollar index declined, with the 10-year bond yields declining by about 13% for fear of economic stagnation to complete the bearish trend in the medium term, of course, to achieve a corrective decline before completing the long-term bullish trend
With the employment data expected at the end of the week, traders should monitor the levels of 102,765 and 102,430, which represent a reversal buying area to tamper the bullish trend again, and should not breach the 102.005 level to maintain the positive frame

Gold

After America, Japan, Britain and Canada announced a ban on new gold imports from Russia, we may witness increases in gold prices, but the movement of gold during the last period is not clear, as its horizontal movement decreased within the levels of 1805.205 and 1879.05 to become its movement within the levels of 1857 .635 and 1815.660, an important week for gold as US employment data awaits

Crude Oil

Crude oil recorded a new bottom below the level of 106.11, which supports the negative scenario and the bearish trend in the medium term, becoming the level of 110.82 is the maximum for the upward decline, also the levels of 109.66 and 108.68 constitute good selling levels.
The retracement from the 101.25 level is a negative sign for a decline, and the reason is that the 101.25 level is a support line and the rebound from it indicates the bulls are now controlling the market, which we have to wait for a confirmation signal before selling

Euro vs US Dollar

The euro is still trading in a bullish trend with the formation of higher tops and lower peaks, and the target is still at 1.06315, and if this level is breached and the four-hour candle closes above it, the target will be at the level of 1.07157

British pound against the US dollar

The British pound still will not confirm the reversal from bearish to bullish, and the reason is to form a lone top at 1.24097, and not to record a new top above this level maintains the possibility of a decline and forming a new bottom, it is better to record a new top above 1.24097 to confirm the bullish trend in the medium term
In the short term, the level of 1.23420 is breached, the target becomes at 1.23835

US Dollar against Canadian Dollar

After rebounding from the 1.30756 level, which represents a resistance line, but we are still in an uptrend until the breach and closing of the four-hour candle below 1.28604, which represents the last low high recorded by this pair, and in case it breaks the target, it becomes at the 1.26361 level

New Zealand Dollar against US Dollar

The pair recorded a new bottom last week at the level of 0.62139, the rise we are witnessing now in the medium term is a corrective one to complete the general bearish trend over the long term, and in the event of breaching the 0.65700 level, the negative scenario will be cancelled

The most important economic data for this week

Monday 27 June

US Dollar: Durable Goods Orders
Pending Home Sales Index

Tuesday 28th June

Euro: European Central Bank Governor Christine Lagarde's speech
US Dollar: Consumer Confidence Index

Wednesday 29th June

British Pound: Speech by the Governor of the Bank of England
US dollar: GDP
Federal Reserve Chairman Jerome Powell's speech
Euro: European Central Bank Governor Christine Lagarde's speech

Thursday 30 June

US dollar: PCE price index

Friday July 1

US Dollar: Institute of Supply Management (ISM) Manufacturing Purchasing Managers' Index