On June 23rd, I highlighted the best trade opportunities for the week:
1. Long position in the USD/JPY currency pair resulted in a gain of 0.67%.
2. Long position in the AUD/JPY currency cross resulted in a gain of 1.13%.
3. Long position in the NZD/JPY currency cross did not set up as expected.
4. Short position in the USD/ZAR currency pair resulted in a loss after rejection of the resistance area.
5. Long position in the NASDAQ 100 Index did not set up.
6. Long position in the S&P 500 Index did not set up.
Overall, there was a net gain of 1.80%, excluding the loss on the USD/ZAR trade.
Key takeaways from last week’s data include:
– US Core PCE Price Index increased by 0.1% month-on-month.
– Australian and Canadian CPI data exceeded expectations.
– US Final GDP data confirmed growth as expected.
A notable event was the strong showing of far-right parties in French polls, potentially impacting the general election outcome.
Upcoming important data releases include:
– US FOMC Meeting Minutes.
– US Non-Farm Payrolls/Average Hourly Earnings.
– Eurozone CPI Flash Estimate.
– German Preliminary CPI.
– Swiss CPI.
– French Parliamentary Elections.
Other major data releases scheduled for the week are Chinese Manufacturing PMI, US ISM Manufacturing PMI, US ISM Services PMI, US Unemployment Claims, and Canadian Unemployment Rate.
The US Dollar Index displayed indecision with a doji candlestick last week. Potential bullish breakout is awaited above key resistance levels.
Forecasts for USD/JPY, AUD/JPY, EUR/JPY, CAD/JPY, EUR/USD, and AUD/USD currency pairs were discussed based on market trends and data analysis.
Lastly, best trading opportunities for the week were identified as long positions in USD/JPY, AUD/JPY, CAD/JPY, and NASDAQ 100 Index following a daily close above 20,000.