Forex Insider Daily Update 21 June 2017

Major Bank Daily Position

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

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

EUR/JPY - Credit Suisse - LONG Position - From 124.00 - Stopped out at 123.75 (S/T) -25 pips

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

USD/CAD - Credit Suisse - SHORT Position - From 1.3280 - Stopped out at 1.3310 (S/T) -30 pips

NZD/USD - Morgan Stanley - SHORT Position - From 0.7260 - Adjusted - Stop from 0.7330 to 0.7250, Target: unch. (TOTW-S/T)

NZD/USD - Morgan Stanley - SHORT Position - From 0.7260 - Hit Profit-Stop at 0.7250 (TOTW-S/T) +10 pips

AUD/NZD - Nomura - LONG Position - From 1.0510 - Stopped out at 1.0400 (M/T) -110 pips

Goldmansachs

EUR/USD a buy on dip. It points to 1.1012 as possible levels to intiate a trade to 1.13 break as confirmation level and to 1.1521 as a target to trade.

So far seeming like a flat/shallow correction which means it could remain in this 1.11/1.13 range for a while longer. Ultimately expecting an eventual topside breakout and continuation of the underlying uptrend.

ANZ

“The RBNZ clear neutral stance remains. We still hold the view that the RBNZ will likely tighten next year, given our belief that the economy will grow at a rate that will gradually eat into capacity. However, the RBNZ is some way away from embracing that mindset, it will not react until it sees broad based inflation.

There is nothing stern in this and it is hard to argue against currency strength when your terms of trade are set to hit an all time high.

ABN AMRO

We expect both brent and WTI oil prices to recover towards USD 60/bbl. At this moment, we see no strong argument to lower this forecast based on the current negative market sentiment.