Forex Analysis: June 15, 2021 - Good Economic Data Release Strengthens Euro

Today's forex daily analysis for June 15, 2021, will discuss the movement of EURUSD. The eurozone's single currency, the Euro, strengthened against the US Dollar. The strengthening of the Euro occurred due to the good release of European economic data, namely the Eurozone Industrial Production Report data, the data was released above the prediction, released at 0.8% while the prediction was only 0.4% while the previous period was only 0.4%. The EURUSD movement today in the Asian session is expected to continue its strengthening against the US Dollar. In addition to the good effect of the European economic data released, the strengthening of the Euro also received support from the implementation of Covid-19 vaccinations carried out by countries in the eurozone. This raises the optimism of market participants towards the economy in the European region. The US dollar strengthened against several other major currencies, although the value of US government bond yields is declining. The US dollar had weakened against other major currencies in the market in the US session on Monday. This is because many market participants are holding back or wait-and-see waiting for the meeting of several US Central Banks that are members of the Fed (FOMC) meeting which will be held on Thursday morning. Analysts predict that nearly 60% of economists given a Reuters poll predict that the planned announcement of asset tapering will not be discussed at the meeting the day after tomorrow. They also argue that the tapering plan is likely to be discussed at the earliest in the next quarter, although the slow but certain release of employment data is already showing signs of a positive economic level. 

Forex Daily Analysis Predictions

Today's FOREX prediction on the EURUSD pair is expected to strengthen/rise and the recommended OP (Open Position) is BUY at the level of 1.21300. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the daily forex analysis on June 15, 2021 which discusses the good release of Eurozone economic data has strengthened the Euro against the US Dollar. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.