Dollar Depressed
The dollar ended the past week lower by almost 0.7% against the euro at the close of trading session on Friday, after the Federal Reserve setting committee revealed that the central bank may not raise interest rates at the next meeting in September.
Projections of Fed policy makers, the central bank benchmark interest rate, which was released after the close of its policy meeting on Wednesday, showed that the majority of Fed policy makers support raising rates only once before the end of the year has increased since the policy meeting in March.
On Friday, the euro turned lower after a report that Greece attracts more than € 3 billion ($ 3.4 billion) from the banking system this week, sparking fears that capital flight could lead to a full collapse of the banking system of the country. The governing board of the European Central Bank raised the emergency liquidity assistance to Greece at an emergency call Friday, but did not disclose how the amount of injection of liquidity is the second time that raised the upper limit on the ELA program this week.
Currency Strategist at Scotiabank said that tensions between the Bank of Greece and the ruling party Syriza has exacerbated fears that capital controls may be imposed on Greece by euro zone peers to clog capital flight. EU leaders are scheduled to attend an emergency meeting on Monday.
Technically, today’s trading session on Monday (22/06), the pair Euro-dollar likely to move in a positive trend.
The strengthening Euro is mainly expected to immediately re-examine the minimal resistance at 1.1425 and maximum 1.1500. Meanwhile, if the Euro unable to break below 1.1374 and then survive another alternative scenario will be Euro likely to test support in 1.1350 areas and 1.1300.
Nikkei Early Rally
Starting the domestic stock market trading Monday morning week, the Japanese sun fourth Dulan this June (22/6), the Nikkei appears to work by continuing penguatuan opened at the end of the previous week caused by turning the weakening Japanese yen in early trading this morning.
Turned positive US fundamental data which will be released today, looks imposing Japanese Yen movements, so that helped strengthen exporter shares such Shares% Konica Minolta 2:09, 0:53% stake Fujitsu, Sony shares 0.81%, shares of Nikon 2:24% stake in Isuzu Motors rose 1.01 %.
The Nikkei index opened this morning with the same position at the close of trading positions at the end of last week that the position of 20174.14 points, reaching the highest position previously traded at 20194.45 points and the previous low at 20075.91 points.
But slightly different from the movement of Nikkei index futures this morning are successfully opened higher by 40 points or 0:20% being 20 170 points from the previous closing position at 20 130 points and reached the highest position previously traded at 20 185 points and the previous low at 20 060 points.
Based on the closing of trading on the previous weekend, the Vibiz Analyst Research Centern estimate that the movement of the Nikkei index today will try to continue the gains to penetrate the first resistance at 20 215 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 second resistance at 20 310 points by the middle MA5 BB10 daily.
If the movement of the index managed to reverse direction, it is expected to try to penetrate the first support at 20 085 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 19,970 points with MA5 under BB10 daily.
Technically, the index on the trading session today, Monday (22/06) 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 20400 and 20450. If it fails at 20340, then the next index is expected to tend to retest the support level that is 20 310 and continued until the possibilities are in the 20250 area.
Gold Print Strengthening
Gold held near a three-week high on Friday, and scored the strengthening of two consecutive weeks, driven by the cautious attitude of the Federal Reserve to raise interest rates, as well as anxiety over the Greek crisis.
Gold rallied on Thursday after the Fed said keniakan interest rates will be right after the further improvement in the labor market and the US central bank is confident that inflation will rise.
Protracted talks with its creditors Greek debt problems making gold’s appeal as a safe haven increased. Due to the agreement between the two sides, Greece has the potential to default on June 30, it triggered the rush or withdrawals besara in Greece. Reuters reported in Greece on the range Monday to Thursday this week reported as much as € 3 billion in funds withdrawn from banks in Greece. Eruo zone leaders will hold an emergency meeting on Monday to avoid a Greek default.
Although capable of higher, but the long-term outlook for gold is still bearish, it is reflected from the ownership of assets in SDPR Gold Trust, the largest gold ETF in the world, which is the lowest level since 2008.
Technically, gold on the trading session today, Monday (22/06) the potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands began to shrink, thus giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1204.25 and re-test the maximum level of 1210.00. But if the gold price could not break and survive below 1199.20 then predicted gold prices could potentially test the Support 1197.10 and 1195.25.
