Weekly Overview

US Dollar Index

Fixing interest by the Federal Reserve at a rate of 5.25% and the decline in inflation to a level of 4% pushed the US dollar index to breach the level of 102.845, which is considered an important support line to maintain the bullish trend, and record a bottom below, which turned the outlook on the US dollar from positive to negative.
The rise in the dollar index at the present time represents a correction to complete its bearish trend, and touching the level of 102.660 represents a selling opportunity to target the level of 101.750, and the negative outlook for the US dollar will not change unless the level of 102.975 is breached and a peak is recorded above

Gold

Gold declined last week by about 2.40% to record a new low below the level of 1932.04 to confirm its bearish trend, but in the medium term, i.e. the four-hour frame, and the rise to the level of 1976.4 represents a selling opportunity on gold to target the level of 1936.91, and the negative scenario remains valid if the level of 1983.7 is maintained and not Sign apex above
Note: the change in the direction of the dollar index weakens the gold decline scenario, which is the only negative point for gold analysis

Euro against US Dollar

This pair is considered one of the most clear pairs in the movement and rise that it recorded in the past week, firstly, the weakness of the US dollar and the interest rate fixation by the Federal Reserve at a rate of 5.25%, and secondly, the European Central Bank raised interest rates by 25 basis points, bringing the interest rate to 4% and talking about raising Another in the next meeting by 25 basis points as well, which affected in a positive way on the euro, and we witnessed these rises on the euro pair against the US dollar.
The difference in monetary policies between the Federal Reserve and the European Central Bank maintains the bullish trend on the euro-dollar pair in basic terms, while technically, of course, the general trend in the medium and long term is positive, and in the event that the euro declines, it is corrective only to buy again, and the level of 1.08371 represents a buying opportunity to target the level of 1.09504, In order to maintain the positive scenario, the price must maintain the level of 1.08038 and not record a bottom below it

British Pound against US Dollar

The British pound pair against the US dollar is trading in a general upward trend, forming higher peaks than one another, and the retreat to the level of 1.27848 represents a buying opportunity for this pair to target 1.2850 as a first target in the medium term, and 1.29705 as a second target in the long term, the scenario will be canceled if it is recorded The price is the lowest low of 1.27676
Note: The British pound awaits the interest rate decision by the British Central Bank on Thursday, June 22nd, and expectations indicate that it will raise interest rates by 25 basis points, to target the rate of 4.75%

US Dollar against Swiss Franc

The trading of the US dollar pair against the Swiss franc is similar to the trading of the dollar index, as they are trading in a downward direction, and we also expect a corrective rise to complete the downward trend, and this pair is one of the most obvious opportunities for this week
The rise to 0.90232 represents a selling opportunity to target 0.8920, and not breaching 0.90570 and recording a top above maintains the negative scenario.
Note: This week, the Swiss Franc is awaiting the interest rate decision by the Swiss National Bank on Thursday, June 22nd, and expectations indicate an interest rate hike of 25 basis points, targeting the rate of 1.75%

The most importante economic data and news for this week

Wednesday 21st June

British Pound: Consumer Price Index on an annual basis
US Dollar: Fed Chair Powell Testifies

Thursday 22nd June

Swiss Franc: Interest rates decision by the Swiss National Bank
British Pound: intrest rate decision by Bank of England
US dollar: Unemployment Claims 
Fed Chair Powell Testifies

Friday 23 June

Eurozone: Services and manufacturing PMIs for France and Germany
British Pound: services and manufacturing PMI
US dollar: services and manufacturing PMI