Forex Insider Daily Update 20 June 2017

Major Bank Daily Position

USD/JPY - UOB - LONG Position - Opened - Entry: 111.65, Target: 112.80, Stop: 110.85 (S/T)

GBP/USD - Deutsche Bank - SHORT Limit Order - Placed - Entry: 1.2799, Target: 1.2500, Stop: 1.2970 (M/T)

EUR/GBP - Credit Suisse - LONG Limit Order - Placed - Entry: 0.8785, Target: 0.9025, Stop: 0.8710 (S/T)

EUR/JPY - Credit Suisse - LONG Limit Order - Placed - Entry: 124.00, Target: 126.40, Stop: 123.75 (S/T)

NZD/USD - Credit Suisse - LONG Position - Opened - Entry: 0.7240, Target: 0.7480, Stop: 0.7165 (S/T)

USD/CHF - Credit Suisse - LONG Limit Order - Placed - Entry: 0.9708, Target: 0.9857, Stop: 0.9639 (S/T)

USD/CAD - Credit Suisse - SHORT Position - Opened - Entry: 1.3280, Target: 1.3020, Stop: 1.3310 (S/T)

GBP/USD - Credit Suisse - SHORT Limit Order - Placed - Entry: 1.2750, Target: 1.2500, Stop: 1.2848 (S/T)

EUR/USD - Credit Suisse - LONG Limit Order - Canceled - Entry: 1.1105, Stop: 1.1053 (S/T)

AUD/USD - Credit Suisse - LONG Position - Opened - Entry: 0.7593, Target: 0.7700, Stop: 0.7495 (S/T)

USD/JPY - Credit Suisse - LONG Limit Order - Placed - Entry: 110.86, Target: 113.10, Stop: 109.65 (M/T)

GBP/USD - UOB - SHORT Position - From 1.2735 - Adjusted - Stop from 1.2820 to 1.2720, Target: unch. (S/T)

Danske

Fed confirms its eagerness to move on with both rate hikes and balance sheet reduction, this should keep USD supported near term.

However, the drop in actual US core inflation in May combined with downgraded inflation outlook will end the agressive tightening. Thus, USD strength driven by FEd should prove temporary. 

Danske maintains a bull EUR/USD in medium term but staying short targetting 1.085 over the summer. 

ING

We attribute that to speculation of ECb tapering this summer. We think that ECB will have to provide some update either 20 July meeting or more likely at 7 September.

We have a baseline yields break higher in 3Q 2017, carrying EUR/USD to 1.15