Market Reviews of the Previous Day:
During NY session on 21 June, the euro reached 1.44 USD due to an expectation that government would survive a confidence vote by the parliament. After the vote, the market focus will shift to FED's monetary policy statement.
GMT+8 16:30 Bank of England Monetary Policy Meeting (June 9)
GMT+8 17:00 Swiss ZEW Economic Confidence (June)
GMT+8 22:00 Eurozone Consumer Confidence Index (June)
GMT+8 22:30 Review Report of the Bank of Canada Financial System
Gold:
Gold opened at 1540.81 USD on 21 Jun, with intra-day Low at 1538.88 USD and intra-day High at 1547.60 USD, eventually closing at 1546.31 USD. Intra-day range of 8.72 USD was seen.
Trading suggestions:
After breaking the upside of the consolidation, the upper level will be at 1576 USD. It is a good opportunity for buying. The stop-loss could be at 1538. Investors should pay attention to the suppression of the uptrend range from 14 June.
During NY session on 21 June, the euro reached 1.44 USD due to an expectation that government would survive a confidence vote by the parliament. After the vote, the market focus will shift to FED's monetary policy statement.
June 21, international gold closed higher, due to the uncertainties of solutions for Greek sovereign debt crisis and the decline of U.S. dollar. Gold closed higher for the sixth consecutive trading days. The technical trend continued. Market is concerned about the result of the meeting for interest rate policy held by Federal Reserve Board on June 22. It is expected that Fed will announce the end of the second round quantitative easing policy.
Key Economic Data and Events:GMT+8 16:30 Bank of England Monetary Policy Meeting (June 9)
GMT+8 17:00 Swiss ZEW Economic Confidence (June)
GMT+8 22:00 Eurozone Consumer Confidence Index (June)
GMT+8 22:30 Review Report of the Bank of Canada Financial System
Gold:
Gold opened at 1540.81 USD on 21 Jun, with intra-day Low at 1538.88 USD and intra-day High at 1547.60 USD, eventually closing at 1546.31 USD. Intra-day range of 8.72 USD was seen.
Gold rose on Tuesday, breaking the high levels of May 2 and June 6, 2011 before closing. The initial consolidation appeared in the daily chart.
Before the change of gold's long-term uptrend, supports were easily found. The whole pattern was in wide range oscillation.Trading suggestions:
After breaking the upside of the consolidation, the upper level will be at 1576 USD. It is a good opportunity for buying. The stop-loss could be at 1538. Investors should pay attention to the suppression of the uptrend range from 14 June.
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