What to Trade on June 20-24?

What to Trade on June 20-24?

2022-12-15 • Updated

Last week was shocking! 

The US dollar gained more than 2% against other currencies ahead of the 75-basis points rate hike by the Federal Reserve on Wednesday but dropped after the announcement. As a result, EURUSD bounced off the 1.0350 support and reached 1.0550 by Friday. The US stock market lost its global support. US500 plunged below 3800, while US100 broke through the 11 700 support level. The oil market has cooled down. XBRUSD plunged to 110.70 support, the 50-day moving average.

Trade ideas


The Canada Statistics will publish the Core Retail Sales m/m numbers on Tuesday. Moreover, on Wednesday, investors will get the data about the inflation rate in Canada. USDCAD is trading right under the strongest resistance level of 1.3000. Higher than expected results might strengthen the Canadian dollar versus the USD and send the pair down to 1.2730 support.

Also, on Wednesday, the Office of National Statistics will publish the Great Britain inflation rate. GBPUSD bounced from the historic support of 1.2000. A higher-than-expected inflation rate might push the pair towards 1.3000 resistance. 

On Thursday, investors will get the German Flash Manufacturing PMI data. EURUSD has also found a support level of 1.0350. The pair is heading towards the 1.0770 resistance level, and higher-than-expected results might help the price to reach it. 


The US stock indices had a rough close of the previous week due to the key rate increase in the United States. Both indices have lost their critical support. US100 and US500 might keep going down to the next support level of 3500 and 10 800, respectively. 

Chinese Hang Seng has been trading in range during the past week. However, markets are concerned about the possible military conflict between China and Taiwan. If it happens, the HK50 might drop to 19 000.

Oil, gas & metals 

XBRUSD has declined to $110.50 support by the end of the previous week. Traders might consider buying XBRUSD while the price is staying above this level. On the other hand, if the price declines below, it might plunge to $106.50 and $102.00.

XAUUSD plunged under the 200-day moving average last Friday. If buyers couldn’t return the price above this resistance, it will fall to $1800. Otherwise, we might see a pump above $1900.



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