After over a month of decline, the euro rebounded sharply against the dollar since last Friday after the release of disappointing statistics NFP index that measures the level of job creation in the United States. The rate of the dollar (dollar index) ebbs, while in euro zone some signs of recovery are observed. Beyond the $ 1.1350 threshold, we encourage to take a long position to achieve by the end of the achievable target of 1.16. A fall below $ 1.1220 would limit this strategy void, rather requiring the use of scalps and positions taken in the short-term sale.
GBP / USD rising again
GBP / CHF (Pound against the Swiss franc) continued on an uptrend in the medium term. The 1.42 CHF resistance threshold was exceeded in May and is now a potential new floor.
The average price (moving average) to 50 days is also rising again, and comforting us in our forecast rise.
The pair GBP / CHF strengthens since she committed an increase in early April 2016. Achieving 1.4600 CHF is quite achievable. Facing strong appetite observed in the market, our action should be limited to a position call as the floor of 1.42 CHF resist.
The USD / CHF supported by the SNB
The Swiss National Bank (SNB) reapplies discreetly interventionist policy on the foreign exchange market and strengthens its dollar reserves in anticipation of a victory for pro-Brexit in the referendum of June 23 in the UK.
technically, the average price over the last 50 periods (50 periods moving average) materializes the current buyer power that bears the USD / CHF. It also represents a dynamic medium.
Long positions of Des taken by each investor may be appropriate, at least until the achievement of the first bullish target of 1.0040 CHF. Otherwise, a selling strategy should be favored below 0.9880 CHF.
Gold continues to rebound
The rebalancing seen in recent weeks on gold seem complete. The precious metal rebounded strongly from its trading floor ranks of the medium term to 1208 $.
The analysis of different graphic shows buyers boost appetite for the yellow metal. A trend which should bring the gold price to the next resistance level at $ 1,262 and long term to $ 1,294. As the floor of $ 1,208 resists, it is not possible to consider a short position.
The price of crude rises
Record for WTI oil, which reached its highest quotation in the last eight months, stabilizing at around $ 50. A significant rebound is due to several significant contingencies. WTI prices have soared because so many committed acts of sabotage occurred in Nigeria against oil wells and the inability of OPEC to agree on production quotas.
However, we plan still declining crude keeping an eye on the fluctuations in the $ 50 area. A justified position by the slowdown of the Chinese economy and sluggish global economic conditions that encourage betting on a context where supply will be greater than demand.
In June, it would be wiser to build only a reflux courses (bearish positions), the reverse is possible if the upward trend continued in the long run.
Future development of the S & P500
The evolution of the S & P500 is to scrutinize in the next sessions. The continuous upward pace adopted by the motor index of European markets could quickly run short if the 2090 point threshold is broken. If this level is broken again, it could lead to lower other major world indices, including the CAC40 and the DAX30. For now, the market seems to pressure between 2090 and 2100 points.
Playing only on scalping or short term bullish positions as the volume of 2090 does not yield to the decline seems to be the most sensible option. Especially as the president of the Fed, Janet Yellen has wanted reassuring in his Philadelphia speech, seeking the same time to halt declines in US indices.