Daily Market Forecast, June 26, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

GBP/USD: Pound Rebound Continue

The Pound has continued to get stronger in early trading against the U.S Dollar as the week has begun. The U.K government has announced it will pursue trade talks with emerging markets globally. The Pound is above the 1.27 mark handily, and the 1.28 mark may be interpreted as resistance. Traders may look for short-term reversals today, but the Pound’s rebound should be taken seriously.

Gold: Central Bank Shadows

Gold has sold off slightly this morning. The precious metal made solid gains last week and was able to hold onto its value. The 1250.00 U.S Dollars an ounce price could be viewed as support. Gold will be affected by central bank leaders who will be speaking this week almost on a daily basis. The precious metal is likely to see heavy speculation in the coming days.

EUR/USD: Test of Values Coming

The Euro continues to trade near the 1.12 level against the U.S Dollar. The European currency has been in a tight range the past week, but has maintained the upper realm of its value nicely. However, the Euro may be ready to break the consolidated mode it has idled within and test higher prices. The European Central Bank holds its forum this week and will certainly provide trading impetus.

Crude Oil: Traders Speculating on Reversal

Crude Oil has gained early. The commodity has shown support around the 43.00 U.S Dollars a barrel level holding. Traders may be tempted to continue to test for upward momentum, based on the hope a reversal is developing after the rather strong downward trend Crude Oil has experienced the past few weeks.

USD/JPY: Scalpers Market

The Yen has experienced a tight range against the U.S Dollar and its consolidated band continues to be seen today. Traders may find the opportunity to take advantage of small movements scalping, if they are patient enough to let momentary price action take its natural path. The 111.00 mark between the Yen and U.S Dollar remains a talking point.

Yaron Mazor is a senior analyst at SuperTraderTV.

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