Intraday Analysis - Tuesday, June 16

EURUSD hits a higher ground

The ongoing negativity with the greenback saw another 100 pips added to the value of the pair.

• However, the recent pullback in price action has seen the euro test the 1.1600 level.

• A break lower could prompt more buyers to bail out, turning the said level into a fresh support.

• The RSI’s neutral condition could attract some sellers to turn the price towards 1.1520.

• 1.1640 is the next target for bulls.

USOIL finds a double bottom

WTI fell further as the potential deal to end the Middle East conflict came closer.

• A further fall past the psychological level of 80.00 would see traders attempt to keep the latest move valid.

• 84.00 is the first resistance to cover the weekend gap and confirm a bullish breakout.

• On the downside, a slip below 77.50 would flush out buyers and expose another downturn.

The US30 (Dow) hits another peak

The US30 (Dow) cheered on the possibility of a deal being signed by Friday as indices spiked higher.

• The index reached the 52000 area as prices look to test 52400.

• With the RSI in overbought territory, a correction could pull the index lower in the near-term.

• A tentative break below 51500 would cause a retest of 51200, potentially triggering a correction.