{"id":13351,"date":"2024-06-28T08:32:45","date_gmt":"2024-06-28T08:32:45","guid":{"rendered":"https:\/\/www.sevenstarfx.com\/blog\/?p=13351"},"modified":"2024-06-28T08:32:45","modified_gmt":"2024-06-28T08:32:45","slug":"daily-market-outlook-28-june-2024","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-28-june-2024\/","title":{"rendered":"Daily Market Outlook, 28 June, 2024"},"content":{"rendered":"\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\r\n\r\n\r\n\r\n<p>The U.S. dollar has been in demand of late, climbing close to its highest level of the year. However, this rally is unlikely to be sustained in the coming months, according to UBS.<\/p>\r\n\r\n\r\n\r\n<p>The Dow Jones Industrial Average rose 36.26 points to 39,164.06, the S&amp;P 500 gain 0.09% to 5,482.87 and the Nasdaq Composite ascend 52.72 points to 17,857.88.<\/p>\r\n\r\n\r\n\r\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan is up 0.31% to 696.43 levels. The Australian index was higher by 0.10% to 7,767.50. Japanese Nikkei Index increase 0.64% today.<\/p>\r\n\r\n\r\n\r\n<p>European stocks were mixed on Friday , with the Stoxx Europe 50 Index decrease 0.07% to 4,899.35, Germany&#8217;s DAX\u00a0 ascend 0.14% to 18,231.35, and France&#8217;s CAC lower 0.59% to 7,486.19 and\u00a0 U.K.&#8217;s FTSE 100 gain 0.25% to 8,200.08.<\/p>\r\n\r\n\r\n\r\n<p>Benchmark 10-year U.S. Treasury rose as demand for safe assets slipped again, today 10-year bond yields increase 0.21% to 4.2980.<\/p>\r\n\r\n\r\n\r\n<p>Oil prices rose in Asian trade on Friday and were poised for a third straight weekly jump, buoyed by growing expectations that the U.S. central bank will soon start to cut interest rates and firm complex refining margins.<\/p>\r\n\r\n\r\n\r\n<p>Spot Brent crude oil increase 0.61% to $85.78 per barrel. US West Texas Intermediate crude is increase 0.72% to $82.33 a barrel.<\/p>\r\n\r\n\r\n\r\n<p>The yellow metal gold is up 0.07% to 2,338.20 dollars per ounce.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\"><strong>Market <span style=\"color: #cf2e2e;\">Wrap:<\/span> Forex<\/strong><\/span><\/h3>\r\n\r\n\r\n\r\n<p>\u00a0Most Asian currencies kept to a tight range on Friday as the dollar stuck to near two-month highs before key inflation data that is likely to factor into the Federal Reserve\u2019s outlook on interest rates.<\/p>\r\n\r\n\r\n\r\n<p>Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which ascend 0.10% to 105.680.<\/p>\r\n\r\n\r\n\r\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that is decrease 0.07% today. This left the pair trading around $1.06950.<\/p>\r\n\r\n\r\n\r\n<p>The Japanese yen was positive against the U.S. dollar on Friday . Today USD\/JPY is trades pair that increases 0.10% to the 160.890 level.<\/p>\r\n\r\n\r\n\r\n<p>Another commodity-related currency mixed against the U.S dollar, AUD\/USD decrease 0.17% to 0.66340, and NZD\/USD descend 0.21% to 0.60690 level.<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">EUR\/USD Intraday: <\/span>Trend on the downside<\/h3>\r\n<p><strong>Our pivot point is at 1.07020<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Take sell positions below pivot level with targets at 1.06890 &amp; 1.06780 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Buy pivot looks for a further upside to 1.07140 &amp; 1.07250.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment:<\/strong> RSI is below 50 levels.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13346 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/EURUSD-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p class=\"has-text-align-center\"><\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">GBP\/USD Intraday: <\/span>Trend on the upside<\/h3>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<p><strong>Our pivot point is at 1.26360<\/strong><\/p>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<p><strong>Preferable Price Action<\/strong>: Buy positions above pivot with targets at 1.26490 &amp; 1.26600 in extension.<\/p>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<p><strong>Alternative Price Action<\/strong>: The price below pivot would call for further downside to 1.26230 &amp; 1.26120.<\/p>\r\n<p class=\"has-text-align-center\">\r\n\r\n<\/p>\r\n<p><strong>Comment<\/strong>: RSI is above 50 levels and pairs are above its 20MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13347 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/GBPUSD-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">USD\/JPY Intraday:<\/span> Trend on the upside<\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Our pivot point is at 160.880<\/strong><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Preferable Price Action: <\/strong>Buy position above pivot with the target at 161.270 and 161.540 in extension.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Alternative Price Action<\/strong>: The downside breakout of the pivot would call for 160.500 and 160.200.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Comment<\/strong>: MACD is above 50 levels and Pairs above its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13348 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/USDJPY-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<figure class=\"wp-block-image\"><\/figure>\r\n<p>\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">AUD\/USD Intraday:\u00a0<\/span><strong>Trend on the downside<\/strong><\/h3>\r\n<p class=\"wp-block-heading\"><strong>Our pivot point is at 0.66350<\/strong><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Preferable Price Action:<\/strong> Sell positions below pivot with targets at 0.66230 &amp; 0.66140 in extension.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Alternative Price Action<\/strong>: Above pivot a further upside with 0.66470 &amp; 0.66580 as targets.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Comment<\/strong>: RSI is below 50 levels and pairs below its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13344 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/AUDUSD-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p>\r\n\r\n\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">CRUDEOIL Intraday:<\/span>\u00a0 Major trend on the upside<\/h3>\r\n<p class=\"wp-block-heading\"><strong>Our pivot point is at 81.87<\/strong><\/p>\r\n<p><strong>Preferable Price Action<\/strong>: Above pivot buy oil with 82.23 &amp; 82.54 as targets.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Alternative Price Action<\/strong>: Sell crude below pivot with targets at 81.51 and 81.18 in extension.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Comment<\/strong>: RSI is above 50 levels and pairs above its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13345 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/CRUDEOIL-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">XAU\/USD Intraday: <\/span>Trend on the upside\u00a0<\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Our pivot point is 2326.20<\/strong><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Preferable Price Action<\/strong>: Further upside to 2332.20 and 2336.60.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Alternative Price Action<\/strong>: If the price gives an downside breakout of a pivot, then the price extends to 2320.40 and 2315.50.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Comment<\/strong>: MACD is above 50 levels and pairs above its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13350 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/XAUUSD-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p>\r\n\r\n\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">Dow Jones Intraday: <\/span>Trend on the upside<\/h3>\r\n<p><strong style=\"font-size: 16px;\">Our pivot point is <\/strong><strong>39,208.40<\/strong><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Preferable Price Action<\/strong>: Take buy positions above the pivot with targets at 39,300.90 &amp; 39,379.00.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Alternative Price Action<\/strong>: Below 39,208.40 looks for further downside to 39,117.90 &amp; 39,039.80.<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Comment<\/strong>: RSI is above 50 levels and pairs above its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-13349 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/06\/WS30-1-1024x478.jpg\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<figure class=\"wp-block-image\"><\/figure>\r\n<p>\r\n\r\n<\/p>\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Market Wrap: Stocks, Bonds, Commodities The U.S. dollar has been in demand of late, climbing close to its highest level of the year. However, this rally is unlikely to be&hellip; <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[124,89,329,10,28,3,155,220,26,328,33,327,72,323,31,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Market Outlook, 28 June, 2024 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-28-june-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Market Outlook, 28 June, 2024 | Seven Star FX\" \/>\n<meta property=\"og:description\" content=\"Market Wrap: Stocks, Bonds, Commodities The U.S. dollar has been in demand of late, climbing close to its highest level of the year. 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