Summary: Tian Hongliang, a special analyst for XM Group, provides a technical outlook for major forex pairs, gold, and indices for June 12. Key levels for EURUSD and XAUUSD are highlighted amid current market trends.
The US Dollar Index showed strength on Thursday, finding support at 99.60 after failing to break above 100.35. The technical structure suggests the dollar could maintain a bullish bias on pullbacks.
EURUSD Technical Outlook
The Euro remains under pressure. After failing to sustain momentum above 1.1590, the pair is trading near a key resistance zone. Intraday resistance is seen at 1.1595-1.1600. A rejection here could push prices toward 1.1550-1.1555 and potentially 1.1510-1.1515.
XAUUSD Gold Trading Strategy
Gold prices experienced a volatile session, with resistance at 4220 and support at 4023. The metal is currently in a corrective phase. Immediate resistance lies at 4242-4247. If this level holds, sellers may target support at 4135-4140, followed by 4050-4055.
GBPUSD & USDJPY Strategies
The British Pound faces selling pressure against the Dollar. Sell on rally within 1.3335-1.3445 range. USD/JPY can be sold on strength with resistance at 160.60, targeting 159.60.
Other Currency Pairs
USD/CHF: Sell on rally at 0.7940-0.8010. AUD/USD: Buy on dip at 0.6985-0.7065. USD/CAD: Buy on dip at 1.3935-1.4025.
Reference: Compiled from Tian Hongliang's June 12 major currency short-term trading guide via Hexun.com[citation:1].