Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

Morning brief for June 20

Fed Dudley was a superstar of yesterday’s trading sessions. In the absence of any significant economic data overnight, the market’s focus was on Fed member Dudley who gave an upbeat assessment to the US economy and forecasted a further increase in inflation rate due to tightening of the labor market.

USD/JPY: Dollar is overbought

Weak bullish Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; a market is overbought and expected a correction movements.

AUD/USD: aussie ready to go higher

Expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen and Kijun-sen; the prices supported by Kijun-sen and the Cloud.

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