Latest Market News: 8th June 2023

It feels like the US economy just left the highest level tower. Just dived off. With the full free-fall ramifications only now beginning to truly seep into the consciousness of investors. As is often the case, the real world Main Street situation can have a long lead time on major stock market price shifts.

The?EUR/USD?currency pair continues to face downward pressure as recent economic data releases, such as the factory orders data from Germany, came in weaker than anticipated. Yesterday’s industrial production data also fell short of expectations, although it did show a modest month-on-month gain of 0.3%.

Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the?AUDUSD?daily and 15-minute charts.

A head and shoulders pattern may be forming on the 4-hour chart to confirm a decline back down the range.

Tonight's?Webinar: 8th?June

Live Forex Market Review - Identifying High Probability Trading Levels

Tue, 7:00 PM SYDNEY TIME

In this webinar, Duncan Cooper will analyse the trend, support and resistance, and use Fibonacci retracements to identify high probability trading levels on the major currency pairs. Plus, a live Q & A on your favourite charts.

Register through here:?https://acy.com/en/education/webinars/

Disclaimer: Trading involves risk.