Analysis of foreign exchange gold and crude oil market

**Gold**

- Turning point: 2371
- May fall to 2347.00 - 2354.00 on the day
- Below 2371.00, bearish with target at 2354.00, then 2347.00.
- Bullish on 2371.00 with target at 2378.00 and then 2384.00.
- The RSI technical indicator is showing a further downward trend.

**EUR/USD**

- Turning point: 1.0790
- May drop 10-25 points on the day
- Below 1.0790, bearish with target at 1.0760 and then 1.0745.
- Bullish on 1.0790 with target at 1.0805 and then 1.0820.
- A break below 1.0760 will trigger a decline to 1.0745.

**GBP/USD**

- Turning point: 1.2540
- May drop 23-43 points on the day
- Below 1.2540, bearish, target 1.2500, then 1.2480.
- Bullish on 1.2540 with target at 1.2560 and then 1.2580.
- As long as the 1.2540 resistance level is not breached, the risk of a downside break below the 1.2500 level is high.

**USD/JPY**

- Turning point: 155.50
- May rise 20-40 points on the day
- Above 155.50, bullish, target 155.95, then 156.15.
- If below 155.50, bearish with target price at 155.30, then 155.15.
- A support bottom has been formed near 155.50, which will bring stability to the trend in the short term.

**USD/CHF**

- Turning point: 0.9080
- May drop 15-30 points on the day
- Below 0.9080, bearish with target at 0.9050, then 0.9035.
- Bullish on 0.9080 with target at 0.9095 and then 0.9110.
- As long as the 0.9080 resistance level remains, there is a bearish trend in price action.

**Crude Oil (WTI) Futures (Crude Oil WTI)**

- Turning point: 78.90
- May drop to 76.95 - 77.30 on the day
- Below 78.90, bearish, target 77.30, then 76.95.
- If above 78.90, bullish, target price at 79.50, then 79.95.
- The RSI technical indicator fell below its 30 level.

 

The following is a market analysis of the mentioned financial products (gold, U.S. dollar, EUR/USD, crude oil (WTI) futures, GBP/USD, USD/JPY, USD/CHF):

gold

Market analysis: Gold currently maintains range-bound fluctuations and has not accelerated to break through the previous high. The market expects that this week's inflation data may support the Federal Reserve's expectation of cutting interest rates ahead of schedule, so it is recommended to wait for opportunities to buy low after a pullback. The support level is at 2300, and the upper pressure level is 2380.

Dollar

Market analysis: The U.S. dollar index is currently fluctuating slightly and is within the convergence range, with no clear direction choice yet. Since there are no further changes in fundamentals, it is recommended to maintain a convergent approach and wait for direction choices after the release of US inflation data this week.

EUR/USD

Market analysis: The euro fluctuated upward yesterday, and the current exchange rate is trading around 1.0790. Supported by factors such as short covering and a weaker US dollar index, the European Central Bank's expected interest rate cut in June has limited the upside potential of the exchange rate. Today, focus on the pressure situation near 1.0900, with the lower support near 1.0700.

Crude Oil (WTI) Futures

Market analysis: U.S. crude oil rebounded slightly, but did not break through the box pressure. Fundamentally, the demand side is expected to decline. At the same time, commodities are differentiated and adjusted, and the overall structure is not conducive to the strengthening of oil prices. It is recommended to wait for the direction selection after the EIA inventory data is released. The counter-pumping pressure is around $81, and the lower support is $75.

GBP/USD

Market analysis: The pound fluctuated upward yesterday, and the current exchange rate is trading around 1.2560. Affected by the economic data released by the United Kingdom, especially the good GDP data, and supported by the fall of the US dollar index, the Bank of England's expected interest rate cut in June limited the upside space of the exchange rate. Today, we will pay attention to the pressure situation near 1.2650, and the lower support is around 1.2450.

USD/JPY

Market analysis: USD/JPY may currently rise by 24-39 points. Above 156.25, bullish, targets 156.60, then 156.75. If it falls below this level, it may drop to 156.10 and 155.90. The operating trends of ultra-short-term technical indicators are complex and should be operated with caution.

USD/CHF

Market analysis: USD/CHF may fall 7-22 points. Below 0.9080, bearish, with price targets at 0.9055 and then 0.9040. A break above this level could lead to a rebound to 0.9090 and 0.9100. A break below 0.9055 will trigger a drop to 0.9040.

trading community：https://t.me/jrfxasia2024

Please note that the above market analysis is only based on currently available information and data, and actual market trends may change due to a variety of factors. Investors should fully consider their own risk tolerance and investment objectives when making trading decisions.

 

The following is a market analysis of the mentioned financial products (gold, U.S. dollar, EUR/USD, crude oil (WTI) futures, GBP/USD, USD/JPY, USD/CHF):

gold

Market analysis: Gold currently maintains range-bound fluctuations and has not accelerated to break through the previous high. The market expects that this week's inflation data may support the Federal Reserve's expectation of cutting interest rates ahead of schedule, so it is recommended to wait for opportunities to buy low after a pullback. The support level is at 2300, and the upper pressure level is 2380.

Dollar

Market analysis: The U.S. dollar index is currently fluctuating slightly and is within the convergence range, with no clear direction choice yet. Since there are no further changes in fundamentals, it is recommended to maintain a convergent approach and wait for direction choices after the release of US inflation data this week.

EUR/USD

Market analysis: The euro fluctuated upward yesterday, and the current exchange rate is trading around 1.0790. Supported by factors such as short covering and a weaker US dollar index, the European Central Bank's expected interest rate cut in June has limited the upside potential of the exchange rate. Today, focus on the pressure situation near 1.0900, with the lower support near 1.0700.

Crude Oil (WTI) Futures

Market analysis: U.S. crude oil rebounded slightly, but did not break through the box pressure. Fundamentally, the demand side is expected to decline. At the same time, commodities are differentiated and adjusted, and the overall structure is not conducive to the strengthening of oil prices. It is recommended to wait for the direction selection after the EIA inventory data is released. The counter-pumping pressure is around $81, and the lower support is $75.

GBP/USD

Market analysis: The pound fluctuated upward yesterday, and the current exchange rate is trading around 1.2560. Affected by the economic data released by the United Kingdom, especially the good GDP data, and supported by the fall of the US dollar index, the Bank of England's expected interest rate cut in June limited the upside space of the exchange rate. Today, we will pay attention to the pressure situation near 1.2650, and the lower support is around 1.2450.

USD/JPY

Market analysis: USD/JPY may currently rise by 24-39 points. Above 156.25, bullish, targets 156.60, then 156.75. If it falls below this level, it may drop to 156.10 and 155.90. The operating trends of ultra-short-term technical indicators are complex and should be operated with caution.

USD/CHF

Market analysis: USD/CHF may fall 7-22 points. Below 0.9080, bearish, with price targets at 0.9055 and then 0.9040. A break above this level could lead to a rebound to 0.9090 and 0.9100. A break below 0.9055 will trigger a drop to 0.9040.

trading community：https://t.me/jrfxasia2024

Please note that the above market analysis is only based on currently available information and data, and actual market trends may change due to a variety of factors. Investors should fully consider their own risk tolerance and investment objectives when making trading decisions.