TRADESETUP

June 23, 2020

ASX200 Index Analysis

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ASX200 Index Analysis

Time Frame : 30 Min Chart

Watch for Weakness

The ASX200 was hit hard along with other key Indexes as traders went into risk off mode after comments from US trade adviser Peter Navarro said the China trade deal is over. The ASX200 needs to hold up above the 5900 level into the close or else we may see unwinding of risk down to 5700 into the European session. I would expect that there will be a ‘risk off’ sentiment in the US session tonight unless further comments are released to appease the action. Markets are already on a knifes edge and there is a lot of fuel built up on the long side that will be forced to exit. The AUDUSD reacted lower along with the Euro and Oil…Gold kicked higher but may struggle if the USD gets a head of steam to rally. https://twitter.com/RANsquawk/status/1275237233667313665

Index : ASX200 Index

Current Price : 5887

Status : On watch for weakness

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