June 14, 2017 – Market Update

Mr Price Action/ June 14, 2017/ Market Update, Market Update Posts/ 0 comments


Short recap


Asia mixed

The Russian dust around Trump is settling down

And we go back to work to crunch through hard data and policy execution

Softer Brexit talk and EU is opening the door for UK to stay




Renault-Nissan surprised investors with specially created vehicle for undisclosed bonuses for top management

A shadow of unclarity surrounding Banco Popular fall down

Verizon-Yahoo deal done, Mayer is a history

GM taking it seriously about electric autonomy cars

Apple issuing USD 1 bln of special bonds in a support of green projects

As Trump backs away from Paris climate agreement

…a nice action with a bit of branding building

Postponed US banking reform to postpone global initiatives




10-yr Trys yield at 2.20%

10-yr Bund yield at 0.26%




Markets have experienced recently some USD buying from leverage names against EUR and CHF

While selling from real money going to FOMC

Should FOMC keeps hawkish wording, USD to benefit

If not, USD sell off to be small and short

Support at 96.44 (61.8% Fibo), 96.90 (10 DMA)

Resistance at 97.85 (50% Fibo), followed by 99.26 (38.2% Fibo)




What’s next? 1.0500 again or 1.1500?

Resistance at 1.1231 (10 DMA), 1.1284, then 1.1300

Support at 1.1200, 1.1180 (23.6% Fibo) and 1.1114 (38.2% Fibo)




Critical resistance at 110.50 (61.8% Fibo) and 110.58 (200 DMA)

Support at 109.60 (76.4% Fibo), then at 108.12




Double top

Resistance at 1275 (10 DMA), 1276 (23.6% Fibo)

Support at 1264 (38.2% Fibo), 1261 (50 DMA), 1255 (50.0% Fibo)

Eventually, 1245 (61.8% Fibo and 100 DMA) depending on how hawkish FOMC wording will be


Upcoming Data/Events


IMF’s Lagarde speaking

ECB’s Weidmann speaking

ECB’s Constancio speaking (0815 GMT)


FOMC meeting


Dovish hike priced in

Market can get surprised if Fed keeps talking hawkish

Forward guidance critical (Yellen holds a press conference) in the light of inflation development

Economic projections to be released

As well as details on balance sheet reduction (USD 4.5 trln) are expected

…all of that in the light of today’s US CPI release

Do not forget that US economy usually doing better in H2


Thu/Fri – EcoFin meeting to discuss Greece


Fri – Fed’s Kaplan speaking


June 18 – French Legislative (Parliamentary) elections



Should you have any questions feel free to contact me anytime.


Good luck Champs!


Mr Hawk




DISCLAIMER: This material was created for informational purposes only and represents the Land of Trading team’s view of the past and current economic and capital market environment. It is not an investment advice and should not be viewed that way at all, and the creators of this material cannot be held liable for any potential losses resulting from trading, where despite this disclaimer someone would consider this material as an investment advice. All rights reserved ©2016. Contact: landoftradingATgmailDOTcom


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