Forex Daily Analysis: June 22, 2021 - US Yield Obligation and Euro Movement

Today's forex daily analysis for June 22, 2021, will talk about the movement of EURUSD. The European currency, the Euro, on Monday had achieved its strength, where previously market participants reduced their holdings of the Euro currency. On Thursday last week, the weakening of the Euro occurred due to the hawkish Fed meeting affecting other pairs and commodities including the Euro. The movement of EURUSD in today's Asian session is expected to continue its weakness against the US Dollar. The weakening of the EURUSD currency pair was caused by the strengthening of the US dollar. The increase in American yield obligations made the US dollar currency strengthen and affect other currencies. The movement of the Euro currency had strengthened due to the influence of increased COVID-19 vaccinations and also an improvement in European economic development. The US dollar currency had weakened against several other major currencies, in market trading on Monday. The cause of the weakening of the US dollar currency was caused by the decline in the yield of US government bonds with a tenor of 10 years. As we all know since the beginning of 2021, the influence of the US Dollar condition is closely related to the rise and fall of US bond yields. For the current market movement, the condition of the US Dollar is still in the range of its limited strengthening level, this is because market participants are focused on data in the early morning. The data is the agenda of the statement of the chairman of the US Central Bank "Jerome Powell". The agenda is "The Fed Powell testifies" which will start at 01:00 WIB in the early morning.

Forex Daily Analysis Prediction June 22, 2021

Today's FOREX prediction on the EURUSD pair is expected to continue its decline and the recommended OP (Open Position) is SELL at the level of 1.19000. 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 22, 2021 which discusses the effect of falling US bond yields with a tenor of 10 years on the movement of the Euro. 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.