Gold Fell Along Strengthening Stocks And Greenback
Gold prices fell sharply hit by the strength that lifted the stock market potential Greek deal. Opportunities will be the end of the uncertainty of the financial fate of Greece lowers its charm gold as a safe haven asset.
The valuation of the US dollar which increased also the additional pressure in the gold trade. The US dollar strengthened moderately against its currency pairs after home sales data in May better than expected. Investors expect strong US economic data could make the Fed more quickly to raise interest rates while other central banks monetary easing. In addition to economic data, the latest developments of the negotiations Greece is also calming financial markets to switch to assets that give flowers, away from the gold that did not yield the form of interest.
Gold trading almost flat, ending at the level of $ 1185.77 per troy ounce, near daily lows $ 1,182.06 to $ 1,201.00 daily highs.
Technically, gold in today’s trading session Tuesday (06/23) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1182.25 and re-test the maximum level of 1175.10. However, if the price of gold is able to break and hold above 1187.20, the estimated price of gold could potentially test the Resistance 1189.10 and 1194.50.
Hang Seng Opened Positive
Hong Kong shares trade on Tuesday (23/6), the Hang Seng Index still managed to open in positive territory despite the results of the data rails negative Current Account, which was released in time after the Hong Kong stock market trading closed.
The indicator showed a significant decrease becomes HKD 0.38B from the previous release in HKD 16.7B with expectations by economists that growth will be HKD 25.8B. However, the negative sentiment can be broken by positive sentiment that the data came from China HSBC Flash Manufacturing PMI indicated shows the increase from the previous release.
While reinforcing the stock market this morning was AIA Group of 1.23%, Hang Seng Bank shares 0.91%, China Resources Land shares 0.80%, Cathay Pacific Airways shares 1.63%, shares of China Unicom Hong Kong 1:32%, and shares of Lenovo at 2:48%.
The movement of the Hang Seng Index opened positively this morning managed by 45.62 points, or 0:17% by becoming 27126.47 points from the previous closing position at 27080.85 points and reached the highest position previously traded at 27166.52 and the lowest point at 26811.66 points previously.
Similar to the movement of the Hang Seng Index futures this morning, which successfully opened sped 59 points or 0.21% to be 27 013 points from the previous closing position at 26 954 points and reached the highest position previously traded at 26 995 points and the previous low at 26 615 points.
Based on the results of the previous closing, the analyst predicts that the movement of the Hang Seng Index today will penetrate resistance was observed first at 27 120 points by the middle MA5 BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate the next resistance at 27,300 points with MA5 on BB10 daily.
If the movement of the index managed to turn around the direction of lower back, it is expected to try to penetrate the first support at 26 820 points with MA5 under BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the second support at 26 640 points with MA5 under BB10 daily.
Technically, the index on the trading session today, Tuesday (23/6) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first resistance level of 27 170 and 27 119 27230. If it fails in, then the next index is expected to tend to retest the support level of 27050 and continued until the possibilities are in the 27050 area.
USDJPY Down Thin
The movement of the currency market on Tuesday (23/6), the US dollar was observed to slightly weaker against the yen after the greenback increased demand in the previous session supported by the improving condition of the US housing market.
Ongoing trade in the Asian session, the USDJPY fell a 0.01% to trade at 123.37 where the pair is seen moving hit a daily low of 122.57 for the session and 123.43 levels to the highest sessions daily.
US dollar seen a slight decline against the Yen due to improving conditions in the housing market in the Americas region. Based upon the official report released by the National Association of Realtors said that sales of US existing home has increased by a seasonally adjusted rise be 5:35 million in May from 5:09 million in April.
Meanwhile, market participants this morning will be faced with the Japanese manufacturing activity report scheduled to be released at 8:35 pm Jakarta time. In line with the report, if the Japanese manufacturing activity has increased the US dollar likely to continue weakening against the yen. But on the contrary, if the Japanese manufacturing activity has the potential to weaken the US dollar strengthened against the yen.
Technically, today’s trading session on Tuesday (23/06), the dollar yen pair has an opportunity to move in a positive trend.
A stronger yen is mainly expected to immediately retest the resistance at 124.10 minimum and maximum 124.90. Meanwhile, if the Yen could not break below 123.59 and then survive another alternative scenario the Yen likely to test support in 123.25 and 122.75 area.
