The shape of the candlestick is starting to look pretty negative, so I think if we break down below the Thursday candlestick, that opens up a move down to 0.57. Breaking the Wednesday candlestick is probably what really starts to accelerate things. Keep in mind, though, Friday is Juneteenth in the United States, so liquidity could be an issue. Certainly, looks like we’re favoring the dollar in the US, though.
Silver
traded at $68.91 per ounce on Thursday, June 18, 2026, up 1.5% on the day and
back above the 200 EMA it had broken just one week earlier. The reclaim
reverses the bearish signal that defined my last analysis and drops price back
inside the $66 to $89 consolidation that has framed the white metal since
February.
Wednesday’s
near 3% drop, triggered by a hawkish Federal Reserve, found a floor almost
exactly at the moving average that matters most.
The setup
now is simple. Silver sits at the bottom of a range it has refused to leave for
four months, and the next directional clue is the 50 EMA at $74. Until that
level breaks, very little has changed on the chart since February.
Follow
me on X for real-time silver market analysis: @ChmielDk
A week ago
I wrote that silver had broken below its 200 EMA and warned how low that could
take it, in my analysis of the 200 EMA breakdown. The chart has since flipped. Price
has climbed back above that average, and the consolidation between $66 support
and $89 resistance is live again.
The $66 to
$68 support zone coincides almost to the dollar with the 200 EMA, and that
confluence is what stopped Wednesday’s selloff. The upper boundary near $89
traces the local highs from early February, a level last tested in the first
half of May, which is what triggered the most recent leg down.
This is the
same range I mapped when silver crashed to the $70 floor for
the third time in
March. In 15+ years trading and analyzing metals at FinanceMagnates.com, 10 of
them spent covering silver’s every major break, a 200 EMA reclaim this fast
after a breakdown is rare, and you can read more of my metals work on my analyst page.
Silver is
trying to bounce, but the move higher has a ceiling: the 50 EMA sits near $74,
a meaningful distance above spot. That is the gate. The swing-trading principle
for range-bound markets is direct. As long as price holds between two
boundaries, it tends to travel from one to the other, so the path to $89 stays
open while $66 holds.
From
current levels, the upside to the top of the channel is roughly 30%. My
Fibonacci extension, stretched across the prior trend, puts the 100% level just
above the $89 boundary, which reinforces a target aligned with the dominant
trend. I do not rule that scenario out, but I want to see $74 taken first.
How high can silver go? XAG/USD daily chart with 50 and 200 EMA. Source: Tradingview.com
Key levels:
|
Level |
Type |
Notes |
|
$89 |
Resistance |
Upper |
|
$74 |
50 EMA |
The gate. |
|
$68 |
Spot / pivot |
Current |
|
$66-$68 |
Support / 200 EMA |
Confluence |
|
$62 |
Support |
March |
A close
back below $66 reopens the $62 March low and turns the chart bearish again. A
daily close above $74 is the trigger I am watching for the move toward $89.
Silver
climbed above $69 on Thursday after the US dollar retreated from the spike that
followed Wednesday’s Fed decision. President Donald Trump signed an interim
agreement to end the conflict with Iran and reopen the Strait of Hormuz, easing
the oil-driven inflation premium that has weighed on metals all year.
Lower crude
takes pressure off Treasury yields, and softer yields reduce the opportunity
cost of holding non-yielding silver.
The cap on
the rebound is monetary policy. Silver tumbled about 3% on Wednesday after the
Fed signaled growing support for rate hikes this year, with half of FOMC
members projecting that a hike may be needed.
New Fed
Chair Kevin Warsh declined to guide on the next move but stressed that
inflation has run above the 2% target for years. That hawkish tilt is why
silver bounced off support rather than ripping through resistance.
The drivers
behind the current move:
Sentiment
among chart-focused traders on X leans cautiously bullish, with the $66 zone
treated as the line in the sand.
“My
view remains bullish while price stays above $60,” said Jess, the trader
behind @JessXAUUSD, who flagged $71 as the breakout trigger
toward $77. That aligns with my own read: $66 holding keeps the bullish
structure intact, though I put the real gate higher, at the $74 50 EMA.
$xag #Gümüş takip ettiğimiz 66 bölgesinde yer alan mavi kutu desteğine geldi. Destekte tutunduktan sonra yükseliş yeniden devam edebilir.
71 tepesini kırdığında takip edeceğimiz dirençler 77-89 tepeleridir.
Bu bölge önemli, üzerlerinde kapanış yapıp kalıcılık… pic.twitter.com/NoD5W47UkQ— Kamile Uray (@remdocan) June 18, 2026
Kamile Uray
(@remdocan)
sees the same $66 support holding and points to $77 and $89 as the resistances
above a $71 break. The clustering around $89 from independent analysts is
notable, since it matches the top of my consolidation channel exactly.
The most
aggressive target comes from Dr. Potassium (@potassium_phd),
who wrote that silver’s “next target is $96.01, likely sometime in
June,” conditional on the October 2025 trendline holding as support. That
sits well above my channel, and I would need a clean $89 break to entertain it.
Silver 🥈 — $77.04 — still not out of dead cat bounce territory until getting at least above the 50% level of the prior daily candle, but looks promising that the October 2025 trend line will hold as support and that the sell-off is essentially over.
Could still be choppy for a… https://t.co/uU2GZMAIss pic.twitter.com/WfVtShejG2
— Dr. Potassium (@potassium_phd) May 18, 2026
Not
everyone is positioned for a breakout. “Silver is entering a multi-month
sideways consolidation between $60 and $75,” said Damodara Rao (@damodara_SEBIRA), arguing selling momentum is drying up while the market builds a base.
That range-bound thesis is closest to what my chart has shown since February.
Silver is entering a multi-month sideways consolidation between $60 and $75 as the previous parabolic uptrend cools down and selling momentum is also drying up which signals that the market lacks the pressure to break lower but needs time to build a new base. pic.twitter.com/73W7YC3nOP
— Damodara Rao (SEBI RA) (@damodara_SEBIRA) June 13, 2026
Janey (@Janey_Analyst)
framed an intraday long setup off the $67.65 area with short-term targets up to
$70.15, a near-term echo of the broader bullish-while-above-support structure.
#SILVER#XAGUSD Trading Setup – Buy Opportunity (1-Hour Chart)#XAGUSD is approaching a key demand zone, and buying power is emerging. As long as the price remains above the current market area, the bullish outlook remains valid.
Current Market Area: 67.6500
Technical Targets:… pic.twitter.com/XZPqfgWdgn
— Janey (@Janey_Analyst) June 8, 2026
The
forecast range for silver remains extraordinarily wide, and the spread between
X traders and institutions tells the story. Back in April I laid out the full institutional case from BofA,
Citi and Reuters as
COMEX inventory tightened. My own structure says the question is binary: hold
$66 and grind toward $89, or lose it and revisit $62.
|
Source |
Target |
Notes |
|
Damodara Rao (@damodara_SEBIRA) |
$60-$75 range |
June 2026, base-building consolidation |
|
Jess (@JessXAUUSD) |
$77 |
On a break above $71 |
|
Kamile Uray (@remdocan) |
$77, then $89 |
Resistances above a $71 break |
|
Dr. Potassium (@potassium_phd) |
$96 |
June |
|
Citigroup (Max Layton) |
$150 |
3-month |
|
HSBC |
$68.25 avg |
2026 average forecast |
My view on
each: Damodara Rao’s $60-$75 base is the scenario my chart most supports, since
silver has refused to leave this range since February. Jess and Uray’s $77 is
realistic but only after the $74 50 EMA falls, which neither flags explicitly.
Dr. Potassium’s $96 requires breaking $89 first, a level that has capped every
rally this year.
Citi’s $150 call was made in January near the $120
highs and looks stretched against current action. HSBC’s $68.25 average is almost exactly where silver
trades today, which makes it the most credible institutional anchor on the
board.
My chart
puts the immediate ceiling at $89, the top of the consolidation that has held
since February, roughly 30% above the $68.91 price on June 18. A daily close
above the $74 50 EMA is the trigger for that move. Independent X traders target
$77 to $96, while Citigroup’s January call of $150 looks stretched against
current action.
The 50 EMA
at $74 is the gate. Silver reclaimed its 200 EMA near $66 to $68 this week,
putting price back inside its range, but upside stays capped until $74 breaks
on a closing basis. Below, the $66 confluence floor is the line that keeps the
bullish structure intact.
Silver
dropped about 3% on Wednesday, June 17, after the Federal Reserve signaled
growing support for rate hikes in 2026, with half of FOMC members projecting a
hike may be needed. The hawkish tilt lifted the dollar and Treasury yields,
both headwinds for non-yielding silver, before a US-Iran deal reopening the
Strait of Hormuz sparked Thursday’s bounce.
The $66 to
$68 zone is critical support, coinciding almost exactly with the 200 EMA, and
it held on Wednesday’s selloff. A daily close below it reopens the $62 March
swing low as the next downside target. As long as $66 holds, the four-month
consolidation between $66 and $89 stays intact.
This is not
investment advice. Technically, silver sits at the bottom of its range, which
is where range traders look for long setups toward the $89 boundary, provided
$66 holds. The risk is a hawkish Fed forcing a close below support, which would
flip the chart bearish toward $62. Position sizing matters given silver’s
volatility .
Silver
traded at $68.91 per ounce on Thursday, June 18, 2026, up 1.5% on the day and
back above the 200 EMA it had broken just one week earlier. The reclaim
reverses the bearish signal that defined my last analysis and drops price back
inside the $66 to $89 consolidation that has framed the white metal since
February.
Wednesday’s
near 3% drop, triggered by a hawkish Federal Reserve, found a floor almost
exactly at the moving average that matters most.
The setup
now is simple. Silver sits at the bottom of a range it has refused to leave for
four months, and the next directional clue is the 50 EMA at $74. Until that
level breaks, very little has changed on the chart since February.
Follow
me on X for real-time silver market analysis: @ChmielDk
A week ago
I wrote that silver had broken below its 200 EMA and warned how low that could
take it, in my analysis of the 200 EMA breakdown. The chart has since flipped. Price
has climbed back above that average, and the consolidation between $66 support
and $89 resistance is live again.
The $66 to
$68 support zone coincides almost to the dollar with the 200 EMA, and that
confluence is what stopped Wednesday’s selloff. The upper boundary near $89
traces the local highs from early February, a level last tested in the first
half of May, which is what triggered the most recent leg down.
This is the
same range I mapped when silver crashed to the $70 floor for
the third time in
March. In 15+ years trading and analyzing metals at FinanceMagnates.com, 10 of
them spent covering silver’s every major break, a 200 EMA reclaim this fast
after a breakdown is rare, and you can read more of my metals work on my analyst page.
Silver is
trying to bounce, but the move higher has a ceiling: the 50 EMA sits near $74,
a meaningful distance above spot. That is the gate. The swing-trading principle
for range-bound markets is direct. As long as price holds between two
boundaries, it tends to travel from one to the other, so the path to $89 stays
open while $66 holds.
From
current levels, the upside to the top of the channel is roughly 30%. My
Fibonacci extension, stretched across the prior trend, puts the 100% level just
above the $89 boundary, which reinforces a target aligned with the dominant
trend. I do not rule that scenario out, but I want to see $74 taken first.
How high can silver go? XAG/USD daily chart with 50 and 200 EMA. Source: Tradingview.com
Key levels:
|
Level |
Type |
Notes |
|
$89 |
Resistance |
Upper |
|
$74 |
50 EMA |
The gate. |
|
$68 |
Spot / pivot |
Current |
|
$66-$68 |
Support / 200 EMA |
Confluence |
|
$62 |
Support |
March |
A close
back below $66 reopens the $62 March low and turns the chart bearish again. A
daily close above $74 is the trigger I am watching for the move toward $89.
Silver
climbed above $69 on Thursday after the US dollar retreated from the spike that
followed Wednesday’s Fed decision. President Donald Trump signed an interim
agreement to end the conflict with Iran and reopen the Strait of Hormuz, easing
the oil-driven inflation premium that has weighed on metals all year.
Lower crude
takes pressure off Treasury yields, and softer yields reduce the opportunity
cost of holding non-yielding silver.
The cap on
the rebound is monetary policy. Silver tumbled about 3% on Wednesday after the
Fed signaled growing support for rate hikes this year, with half of FOMC
members projecting that a hike may be needed.
New Fed
Chair Kevin Warsh declined to guide on the next move but stressed that
inflation has run above the 2% target for years. That hawkish tilt is why
silver bounced off support rather than ripping through resistance.
The drivers
behind the current move:
Sentiment
among chart-focused traders on X leans cautiously bullish, with the $66 zone
treated as the line in the sand.
“My
view remains bullish while price stays above $60,” said Jess, the trader
behind @JessXAUUSD, who flagged $71 as the breakout trigger
toward $77. That aligns with my own read: $66 holding keeps the bullish
structure intact, though I put the real gate higher, at the $74 50 EMA.
$xag #Gümüş takip ettiğimiz 66 bölgesinde yer alan mavi kutu desteğine geldi. Destekte tutunduktan sonra yükseliş yeniden devam edebilir.
71 tepesini kırdığında takip edeceğimiz dirençler 77-89 tepeleridir.
Bu bölge önemli, üzerlerinde kapanış yapıp kalıcılık… pic.twitter.com/NoD5W47UkQ— Kamile Uray (@remdocan) June 18, 2026
Kamile Uray
(@remdocan)
sees the same $66 support holding and points to $77 and $89 as the resistances
above a $71 break. The clustering around $89 from independent analysts is
notable, since it matches the top of my consolidation channel exactly.
The most
aggressive target comes from Dr. Potassium (@potassium_phd),
who wrote that silver’s “next target is $96.01, likely sometime in
June,” conditional on the October 2025 trendline holding as support. That
sits well above my channel, and I would need a clean $89 break to entertain it.
Silver 🥈 — $77.04 — still not out of dead cat bounce territory until getting at least above the 50% level of the prior daily candle, but looks promising that the October 2025 trend line will hold as support and that the sell-off is essentially over.
Could still be choppy for a… https://t.co/uU2GZMAIss pic.twitter.com/WfVtShejG2
— Dr. Potassium (@potassium_phd) May 18, 2026
Not
everyone is positioned for a breakout. “Silver is entering a multi-month
sideways consolidation between $60 and $75,” said Damodara Rao (@damodara_SEBIRA), arguing selling momentum is drying up while the market builds a base.
That range-bound thesis is closest to what my chart has shown since February.
Silver is entering a multi-month sideways consolidation between $60 and $75 as the previous parabolic uptrend cools down and selling momentum is also drying up which signals that the market lacks the pressure to break lower but needs time to build a new base. pic.twitter.com/73W7YC3nOP
— Damodara Rao (SEBI RA) (@damodara_SEBIRA) June 13, 2026
Janey (@Janey_Analyst)
framed an intraday long setup off the $67.65 area with short-term targets up to
$70.15, a near-term echo of the broader bullish-while-above-support structure.
#SILVER#XAGUSD Trading Setup – Buy Opportunity (1-Hour Chart)#XAGUSD is approaching a key demand zone, and buying power is emerging. As long as the price remains above the current market area, the bullish outlook remains valid.
Current Market Area: 67.6500
Technical Targets:… pic.twitter.com/XZPqfgWdgn
— Janey (@Janey_Analyst) June 8, 2026
The
forecast range for silver remains extraordinarily wide, and the spread between
X traders and institutions tells the story. Back in April I laid out the full institutional case from BofA,
Citi and Reuters as
COMEX inventory tightened. My own structure says the question is binary: hold
$66 and grind toward $89, or lose it and revisit $62.
|
Source |
Target |
Notes |
|
Damodara Rao (@damodara_SEBIRA) |
$60-$75 range |
June 2026, base-building consolidation |
|
Jess (@JessXAUUSD) |
$77 |
On a break above $71 |
|
Kamile Uray (@remdocan) |
$77, then $89 |
Resistances above a $71 break |
|
Dr. Potassium (@potassium_phd) |
$96 |
June |
|
Citigroup (Max Layton) |
$150 |
3-month |
|
HSBC |
$68.25 avg |
2026 average forecast |
My view on
each: Damodara Rao’s $60-$75 base is the scenario my chart most supports, since
silver has refused to leave this range since February. Jess and Uray’s $77 is
realistic but only after the $74 50 EMA falls, which neither flags explicitly.
Dr. Potassium’s $96 requires breaking $89 first, a level that has capped every
rally this year.
Citi’s $150 call was made in January near the $120
highs and looks stretched against current action. HSBC’s $68.25 average is almost exactly where silver
trades today, which makes it the most credible institutional anchor on the
board.
My chart
puts the immediate ceiling at $89, the top of the consolidation that has held
since February, roughly 30% above the $68.91 price on June 18. A daily close
above the $74 50 EMA is the trigger for that move. Independent X traders target
$77 to $96, while Citigroup’s January call of $150 looks stretched against
current action.
The 50 EMA
at $74 is the gate. Silver reclaimed its 200 EMA near $66 to $68 this week,
putting price back inside its range, but upside stays capped until $74 breaks
on a closing basis. Below, the $66 confluence floor is the line that keeps the
bullish structure intact.
Silver
dropped about 3% on Wednesday, June 17, after the Federal Reserve signaled
growing support for rate hikes in 2026, with half of FOMC members projecting a
hike may be needed. The hawkish tilt lifted the dollar and Treasury yields,
both headwinds for non-yielding silver, before a US-Iran deal reopening the
Strait of Hormuz sparked Thursday’s bounce.
The $66 to
$68 zone is critical support, coinciding almost exactly with the 200 EMA, and
it held on Wednesday’s selloff. A daily close below it reopens the $62 March
swing low as the next downside target. As long as $66 holds, the four-month
consolidation between $66 and $89 stays intact.
This is not
investment advice. Technically, silver sits at the bottom of its range, which
is where range traders look for long setups toward the $89 boundary, provided
$66 holds. The risk is a hawkish Fed forcing a close below support, which would
flip the chart bearish toward $62. Position sizing matters given silver’s
volatility .
The Euro has tried to rally on Wednesday, but continues to see overhead resistance, as we are looking at a market that has no real clarity.
The Euro has run to the upside initially during the trading session on Wednesday, only to turn around and show signs of weakness.
That being said, the EUR/USD market is likely to continue to be very noisy. I think ultimately, we have to ask some questions of the 200-day EMA, which is where we stalled, and then I think you have to ask questions about the interest rate markets and really what is going on there.
Because, quite frankly, the interest rate markets, specifically the 10-year yield in the United States, have been drifting a little bit during the trading session on Wednesday, yet again, as traders are trying to price in the idea of free travel through the Strait of Hormuz in the Middle East. After all, a lot of what had been priced in was energy inflation.
That being said, during the interest rate decision and following press conference, the Europeans this week did suggest something along the lines of a downturn in the economy, and I think ultimately you have a scenario where the US Dollar will strengthen eventually.
We are close to the middle of the overall consolidation range, with the 1.14 level underneath being a major floor and the 1.1850 level being a major ceiling. As we are right in the middle, I think you would see a reaction.
Keep in mind Friday is Juneteenth in the United States, so liquidity will all but disappear pretty quickly once we get through the Asian session and the Europeans on Friday. We will just drift into the weekend. I just don’t think there’s any real understanding of what’s going on in the Middle East for people to put big bets on right now.
Ready to trade our EUR/USD analysis and predictions? Here are the best European brokers to choose from.
Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on: Pairs Of Aces Podcast,The Trader Guy, FXEmpire
The S&P 500 Index SPY today is up +0.99%, the Dow Jones Industrial Average 
DIA is up +0.61%, and the Nasdaq 100 Index 
QQQ is up +2.16%. September E-mini S&P futures (ESU26) are up +0.99%, and September E-mini Nasdaq futures (NQU26) are up +2.10%.
Stock indexes are sharply higher today as geopolitical risks recede. President Trump on Wednesday night signed a preliminary deal to end the US-Iran war, which sent crude oil prices to a 3.5-month low, eased inflation expectations, and sparked risk-on sentiment in asset markets. The slump in crude prices has also pushed bond yields lower, as the 10-year T-note yield is down -6 bp to 4.43%.
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Chipmakers are climbing today to lead the broader market higher, led by a +7% jump in Intel after President Trump said the chipmaker will work alongside Apple to design and produce semiconductors domestically. On the negative side, IT service stocks are retreating today, led by a -15% plunge in Accenture after its disappointing Q4 revenue forecast. Also, today’s decline in crude oil prices to a 3.5-month low is weighing on energy-producing stocks.
Today’s US economic news was supportive of stocks after weekly initial unemployment claims fell -4,000 to 226,000, close to expectations of 225,000. Also, the June Philadelphia Fed business outlook survey rose by +10.7 to 10.3, stronger than expectations of 10.0.
Stock market moves may be exaggerated and more volatile than usual today due to the expiration of June options, futures, and derivatives during the quarterly event known as triple witching. The event will take place today, with US markets closed on Friday for the Juneteenth holiday.
WTI crude oil prices (CLN26) are down more than -3% today at a new 3.5-month low after President Trump signed a memorandum of understanding in Paris Wednesday night, formally extending the US-Iran ceasefire for 60 days that allows the Strait of Hormuz to reopen and starts a further round of negotiations to permanently end the war. The resumption of vessel traffic through the Strait of Hormuz could lead to the release of more than 100 oil-laden tankers stuck in the Persian Gulf, effectively adding to market stockpiles. Goldman Sachs on Tuesday cut its price forecast on Brent crude to $80 a barrel in Q4 of this year, down from $90 a barrel, and said it expects Persian Gulf crude exports to return to pre-war levels by the end of July, one month earlier than previously expected.
The markets are discounting a 32% chance of a +25 bp rate hike at the next FOMC meeting on July 28-29.
Overseas stock markets are mixed today. The Euro Stoxx 50 climbed to a new record high and is up +0.45%. China’s Shanghai Composite fell from a 3-week high and closed down -0.43%. Japan’s Nikkei-225 Stock Average rallied to a new all-time high and closed up +1.65%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +6 ticks, and the 10-year T-note yield is down -4.8 bp to 4.430%. T-notes have support today from falling crude oil prices, which put downward pressure on inflation expectations. WTI crude oil is down more than -3% today at a 3.5-month low, knocking the 10-year inflation expectations rate down to a 6-month low of 2.218%.
Gains in T-notes are limited amid today’s rally in stocks, which curbs safe-haven demand for government debt securities. T-notes also have some negative carryover from Wednesday, when the Fed raised its US 2026 core PCE estimate and projected higher interest rates later this year.
European government bond yields are moving lower today. The 10-year German bund yield is down -0.2 bp to 2.925%. The 10-year UK gilt yield is down -0.3 bp to 4.7483%.
ECB Governing Council member Martin Kocher said consumer prices will remain higher for some time in the Eurozone despite an agreement to end the war in the Middle East, and that the ECB is ready to act at any time to ensure inflation returns to its 2% target.
The UK Apr ILO unemployment rate unexpectedly fell -0.1 to 4.9%, showing a stronger labor market than expectations of no change at 5.0%.
As expected, the BOE kept its official bank rate unchanged at 3.75% in a 7-2 vote and said it “stands ready to act” on inflation. BOE Governor Andrew Bailey said the recent fall in crude oil prices is “encouraging,” but warned that “the situation remains unpredictable and there is clearly a risk that energy prices remain elevated for an extended duration.”
Swaps are discounting a 17% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers are climbing today, with the iShares Semiconductor ETF 
SOXX up more than +5% at a new record high. Marvell Technology 
MRVL is up more than +11% to lead gainers in the Nasdaq 100, and Intel 
INTC is up more than +7% after President Trump said the chipmaker will work alongside Apple to design and produce semiconductors domestically. Also, Micron Technology 
MU is up more than +7%, and Applied Materials 
AMAT, Microchip Technology 
MCHP, and KLA Corp 
KLAC are up more than +6%. In addition, Lam Research 
LRCX, Qualcomm 
QCOM, NXP Semiconductors NV 
NXPI, and Texas Instruments 
TXN are up more than +5%, and Broadcom 
AVGO, ARM Holdings Plc 
ARM, and Analog Devices 
ADI are up more than +4%.
Airline stocks and cruise line operators are rallying today as the -3% plunge in WTI crude oil to a 3.5-month low reduces fuel costs and boosts the profitability prospects for the companies. Alaska Air Group 
ALK, Royal Caribbean Cruises 
RCL, Carnival CCCL, and Norwegian Cruise Line Holdings 
NCLH are up more than +4%, and Southwest Airlines 
LUV, United Airlines Holdings 
UAL, American Airlines Group 
AAL, and Delta Air Lines 
DAL are up more than +3%.
IT service stocks are retreating today, led by a -15% plunge in Accenture 
ACN, the S&P 500’s leading loser, after it forecast Q4 revenue of $17.75-$18.40 billion, below the consensus of $18.47 billion. The lower revenue forecast exacerbated concerns that consultants such as Accenture could be hit hard by AI in the coming years. Also, Cognizant Technology Solutions 
CTSH is down more than -7% to lead the Nasdaq 100 losers, and Huron Consulting Group 
HURN and Globant SA 
GLOB are down more than -7%. In addition, International Business Machines 
IBM is down more than -5% to lead the Dow Jones Industrials’ losers.
Energy producers and service providers are falling today, with WTI Crude oil down more than -3% to a 3.5-month low. APA Corp 
APA, Halliburton 
HAL, and SLB Ltd 
SLB are down more than -3%, and Chevron 
CVX, Diamondback Energy 
FANG, Exxon Mobil 
XOM, ConocoPhillips 
COP, Occidental Petroleum 
OXY, Baker Hughes 
BKR, and Valero Energy 
VLO are down more than -2%.
Centrus Energy 
LEU is up more than +11% after signing a letter of intent for it to supply domestic high-assay low-enriched uranium to Oklo to power up to five of Oklo’s Aurora powerhouses for multiple years.
Talen Energy 
TLN is up more than +8% after Goldman Sachs initiated coverage on the stock with a recommendation of buy and a price target of $499.
Integra LifeSciences Holdings 
IART is up more than +3% after Argus upgraded the stock to buy from hold with a price target of $25.
Novocure Ltd 
NVCR is down more than -18% after announcing its Phae 3 TRIDENT trial, which tested earlier initiation of Tumor Treating Fields therapy in newly diagnosed glioblastoma patients compared to later initiation, did not meet its primary endpoint.
Kroger 
KR is down more than -5% after reporting Q1 adjusted EPS of $1.58, below the consensus of $1.59, and forecasting 2027 adjusted EPS of $5.10 to $5.30, the midpoint weaker than the consensus of $5.23.
Steel Dynamics 
STLD is down more than -5% after forecasting Q2 EPS of $3.51 to $3.55, well below the consensus of $4.16.
FactSet Research Systems 
FDS is down more than -2% after Rothschild & Co downgraded the stock to sell from neutral with a price target of $215.
Earnings Reports(6/18/2026)
Accenture PLC (ACN) and Kroger Co/The (KR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.For more information please view the Barchart Disclosure Policy here.
The pair’s price maintained its position below the firm resistance at 215.50 during yesterday’s trading, forcing it to form several corrective waves by targeting the 213.15 level, before attempting to stabilize again above the initial support level located at 213.50.
The proposed scenario for today’s trading depends on the strength of the initial support. Holding above it will give the price an opportunity to renew the bullish attempts and reach some positive targets starting from 214.50 and 215.10 respectively. However, closing negatively below it will strengthen the dominance of the downward corrective bias, forcing the price to incur additional losses by moving toward 212.75 and 212.00 respectively.
The expected trading range for today is between 213.50 and 215.10
Trend forecast: Bullish
The S&P 500 Index SPY today is up +0.73%, the Dow Jones Industrial Average DIA is up +0.53%, and the Nasdaq 100 Index QQQ is up +1.62%. June E-mini S&P futures (ESM26) are up +0.80%, and June E-mini Nasdaq futures (NQM26) are up +1.65%.
Stock indexes are sharply higher today after President Trump’s signing on Wednesday night of a preliminary deal to end the US-Iran war sent crude oil prices to a 3.5-month low, eased inflation expectations, and sparked risk-on sentiment in asset markets.
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Chipmakers are climbing today to lead the broader market higher, led by an +8% jump in Intel after President Trump said the chipmaker will work alongside Apple to design and produce semiconductors domestically. On the negative side, IT service stocks are retreating today, led by a -16% plunge in Accenture after its disappointing Q4 revenue forecast.
Today’s US economic news was supportive of stocks after weekly initial unemployment claims fell -4,000 to 226,000, close to expectations of 225,000. Also, the June Philadelphia Fed business outlook survey rose +10.7 to 10.3, stronger than expectations of 10.0.
Stock market moves may be exaggerated and more volatile than usual today due to the expiration of options, futures, and derivatives during the quarterly event known as triple witching. The event will take place today, with US markets closed on Friday for the Juneteenth holiday.
WTI crude oil prices (CLN26) are down more than -2% today at a new 3.5-month low after President Trump signed a memorandum of understanding in Paris Wednesday night, formally extending the US-Iran ceasefire for 60 days that allows the Strait of Hormuz to reopen and starts a further round of negotiations to permanently end the war. The resumption of vessel traffic through the Strait of Hormuz could lead to the release of more than 100 oil-laden tankers that are stuck in the Persian Gulf, effectively releasing stockpiles into the market. Goldman Sachs on Tuesday cut its price forecast on Brent crude to $80 a barrel in Q4 of this year, down from $90 a barrel, and said it expects Persian Gulf crude exports to return to pre-war levels by the end of July, one month earlier than previously expected.
The markets are discounting a 34% chance of a +25 bp rate hike at the next FOMC meeting on July 28-29.
Overseas stock markets are mixed today. The Euro Stoxx 50 climbed to a new record high and is up +0.38%. China’s Shanghai Composite fell from a 3-week high and closed down -0.43%. Japan’s Nikkei-225 Stock Average rallied to a new all-time high and closed up +1.65%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +2 ticks, and the 10-year T-note yield is down -4.8 bp to 4.430%. T-notes have support today from falling crude oil prices, which put downward pressure on inflation expectations. WTI crude oil is down more than -2% today at a 3.5-month low, knocking the 10-year inflation expectations rate down to a 6-month low of 2.218%.
Gains in T-notes are limited amid today’s rally in stocks, which curbs safe-haven demand for government debt securities. T-notes also have some negative carryover from Wednesday, when the Fed raised its US 2026 core PCE estimate and projected higher interest rates later this year.
European government bond yields are moving higher today. The 10-year German bund yield is up +0.2 bp to 2.929%. The 10-year UK gilt yield is up +0.2 bp to 4.753%.
ECB Governing Council member Martin Kocher said consumer prices will remain higher for some time in the Eurozone despite an agreement to end the war in the Middle East, and that the ECB is ready to act at any time to ensure inflation returns to its 2% target.
The UK Apr ILO unemployment rate unexpectedly fell -0.1 to 4.9%, showing a stronger labor market than expectations of no change at 5.0%.
As expected, the BOE kept its official bank rate unchanged at 3.75% in a 7-2 vote and said it “stands ready to act” on inflation. BOE Governor Andrew Bailey said the recent fall in crude oil prices is “encouraging,” but warned that “the situation remains unpredictable and there is clearly a risk that energy prices remain elevated for an extended duration.”
Swaps are discounting a 16% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers are climbing today, with the iShares Semiconductor ETF SOXX up more than +4% at a new record high. Intel INTC is up more than +8% after President Trump said the chipmaker will work alongside Apple to design and produce semiconductors domestically. Also, ARM Holdings Plc ARM and Marvell Technology MRVL are up more than +6%, and Applied Materials AMAT, Micron Technology MU, Lam Research LRCX, and KLA Corp KLAC are up more than +5%. In addition, Advanced Micro Devices 
AMD, Microchip Technology MCHP, NXP Semiconductors NV NXPI, Analog Devices ADI, and Texas Instruments TXN are up more than +4%.
Airline stocks and cruise line operators are rallying today as the -2% plunge in WTI crude oil to a 3.5-month low reduces fuel costs and boosts the profitability prospects for the companies. Royal Caribbean Cruises RCL is up more than +4%, and Alaska Air Group ALK, Southwest Airlines LUV, and Carnival CCCL are up more than +3%. Also, United Airlines Holdings UAL, Norwegian Cruise Line Holdings NCLH, American Airlines Group AAL, and Delta Air Lines DAL are up more than +2%.
IT service stocks are retreating today, led by a -16% plunge in Accenture (ACN), the S&P 500’s leading loser, after it forecast Q4 revenue of $17.75-$18.40 billion, below the consensus of $18.47 billion. The lower revenue forecast exacerbated concerns that consultants such as Accenture could be hit hard by AI in the coming years. Also, Cognizant Technology Solutions CTSH is down more than -7% to lead the Nasdaq 100 losers, and Huron Consulting Group HURN is down more than -7%. In addition, International Business Machines IBM is down more than -6% to lead the Dow Jones Industrials’ losers, and Globant SA GLOB is down more than -5%.
Centrus Energy LEU is up more than +8% after signing a letter of intent for Centrus to supply domestic high-assay low-enriched uranium to power up to five of Oklo’s Aurora powerhouses for multiple years.
Talen Energy TLN is up more than +5% after Goldman Sachs initiated coverage on the stock with a recommendation of buy and a price target of $499.
Integra LifeSciences Holdings IART is up more than +3% after Argus upgraded the stock to buy from hold with a price target of $25.
Novocure Ltd NVCR is down more than -16% after announcing its Phae 3 TRIDENT trial, which tested earlier initiation of Tumor Treating Fields therapy in newly diagnosed glioblastoma patients compared to later initiation, did not meet its primary endpoint.
Kroger KR is down more than -6% after reporting Q1 adjusted EPS of $1.58, below the consensus of $1.59, and forecasting 2027 adjusted EPS of $5.10 to $5.30, the midpoint weaker than the consensus of $5.23.
Steel Dynamics STLD is down more than -5% after forecasting Q2 EPS of $3.51 to $3.55, well below the consensus of $4.16.
FactSet Research Systems FDS is down more than -3% after Rothschild & Co downgraded the stock to sell from neutral with a price target of $215.
Earnings Reports(6/18/2026)
Accenture PLC (ACN) and Kroger Co/The (KR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.For more information please view the Barchart Disclosure Policy here.
More news from Barchart
EUR/JPY gains ground after registering modest losses in the previous day, trading around 185.10 during the early European hours on Thursday. The currency cross holds a capped tone as spot has slipped just under the nine-period and 50-period Exponential Moving Averages (EMAs). The pair is effectively testing this tight resistance cluster, and a failure to decisively reclaim it would keep the near-term bias tilted lower.
The 14-day Relative Strength Index (RSI) around 48 suggests subdued, range-bound momentum rather than a strong directional push. Additionally, the technical analysis of the daily chart suggests the EUR/JPY cross has rebounded from the lower boundary of the ascending channel pattern, signaling a short-term bullish bias.
The EUR/JPY cross is testing the immediate barrier at the 50-day EMA of 185.13, followed by the nine-day EMA at 185.32. A break above these moving averages would reinforce the bullish bias and support the currency cross to explore the region around the all-time high of 187.95, recorded on April 17, followed by the upper boundary of the ascending channel around 188.40.
On the downside, the primary support lies at the lower boundary of the ascending channel around 184.80. A sustained break below the channel would put downward pressure on the EUR/JPY cross to navigate the region around the four-month low of 181.87, recorded on March 16, with further declines targeting the six-month low of 180.81, reached on February 12.
(The technical analysis of this story was written with the help of an AI tool.)
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.17% | -0.16% | -0.02% | 0.01% | -0.35% | -0.34% | -0.10% | |
| EUR | 0.17% | 0.01% | 0.19% | 0.17% | -0.18% | -0.22% | 0.06% | |
| GBP | 0.16% | -0.01% | 0.15% | 0.16% | -0.18% | -0.22% | 0.03% | |
| JPY | 0.02% | -0.19% | -0.15% | 0.04% | -0.35% | -0.38% | -0.12% | |
| CAD | -0.01% | -0.17% | -0.16% | -0.04% | -0.38% | -0.41% | -0.14% | |
| AUD | 0.35% | 0.18% | 0.18% | 0.35% | 0.38% | -0.03% | 0.27% | |
| NZD | 0.34% | 0.22% | 0.22% | 0.38% | 0.41% | 0.03% | 0.28% | |
| CHF | 0.10% | -0.06% | -0.03% | 0.12% | 0.14% | -0.27% | -0.28% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The pair’s price did not hold for long above the firm barrier at 185.80, affected by the negative US data, which forced it to postpone the bullish attack and form negative corrective waves, targeting the 184.60 level.
We highlight the importance of maintaining trading above the additional support level located at 184.20, as this would enhance the chances of the price renewing its bullish attempts by moving soon toward 185.50 and then resuming pressure on the previously mentioned barrier. However, a decline below the support and a negative close would force the price to incur additional losses, initially moving toward 183.55.
The expected trading range for today is between 184.35 and 185.80
Trend forecast: Bullish
There are no new developments in copper prices so far, as they continue to stabilize repeatedly near the 6.3500$ level due to their continued trading below the firm resistance at 6.6000$. This increases the chances of the price soon moving into new downward corrective trades.
The continued negative momentum provided by the Stochastic indicator supports our expectation that the price will attempt to slip soon toward 6.2000$, and then pressure the support level located at 6.1000$, in an effort to find a path to resume corrective attempts during the short- and medium-term trading period.
The expected trading range for today is between $6.1000 and $6.5000
Trend forecast: Bearish
recovers to 1.33 ahead of BoE decision, but upside may be limited. at a 2-month high on hawkish Fed hold.
GBP/USD has recovered from the two-month low of 1.3260 reached yesterday and is trading back above 1.3300. However, the recovery could prove limited given the broader fundamental backdrop.
Comments from President Trump regarding the reopening of the Strait of Hormuz have helped pull oil prices below $75 per barrel, prompting some profit-taking in the U.S. dollar following the overnight rally sparked by the Federal Reserve.
The Fed left unchanged but removed its easing bias. In addition, nine of the 18 policymakers now expect a rate hike this year, reflecting a hawkish tilt that could continue to support the U.S. dollar.
Attention is now turning to the Bank of England rate decision, where policymakers are widely expected to leave rates unchanged at 3.75% for a fourth consecutive meeting. The focus will be firmly on the vote split and any changes in the policy outlook.
The backdrop facing the BoE has shifted materially since its previous meeting. The U.S.-Iran peace agreement, falling oil prices, softer-than-expected inflation and signs of a cooling economy have all reduced pressure on policymakers to tighten policy further.
Oil prices are now around 30% below the levels seen at the previous BoE meeting, easing concerns over energy-driven inflation. Meanwhile, UK came in at 2.8%, below expectations and below March’s 3.3% peak. Inflation is also running below the Bank’s February projections, giving policymakers greater flexibility.
At the same time, growth remains weak. UK contracted by 0.1% in April and labour market conditions continue to soften, reinforcing the case for a cautious approach.
As a result, investors expect the BoE to leave rates unchanged today. The key question is whether softer inflation and weaker growth have persuaded some MPC members to abandon calls for further tightening, resulting in a more dovish vote split.
GBP/USD faced rejection at the 200-day SMA and broke below its symmetrical triangle pattern, falling to a two-month low at 1.3260. Combined with an RSI below 50, the technical picture continues to favour sellers.
Bears will look to break below 1.3260, the June low, exposing the 1.3200 support level. Below here, the 1.3000-1.3200 support zone comes into focus.
Any recovery would first need to reclaim 1.3340 before bringing the 200-day SMA at 1.3420 into focus. Above here, the 50-day SMA at 1.3475 becomes the next target. A move above 1.3500 would improve the broader outlook and bring 1.3600 into view.
The U.S. dollar rallied sharply in the previous session, reaching a two-and-a-half-month high of 100.55 after the Federal Reserve delivered a hawkish hold.
While the dollar has eased slightly from those highs amid profit-taking and improving sentiment surrounding the U.S.-Iran peace agreement, the broader outlook remains supported by the Fed’s shift in tone.
The Fed left rates unchanged at 3.50%-3.75% as expected and removed its easing bias. More significantly, nine of the 18 policymakers now expect a rate hike this year, highlighting growing concern over persistent inflation pressures.
New Fed Chair Kevin Warsh has also signalled a tougher stance on inflation and launched a review of how the central bank communicates policy, marking the beginning of a potentially more hawkish era for the Fed.
Markets have now fully priced in a Fed rate increase by October, supporting Treasury yields and underpinning the U.S. dollar.
The US Dollar Index has recovered from the May low at 97.60, rising to a high of 100.57. The index continues to trade above its rising trendline, as well as the 20-day, 50-day and 200-day SMAs.
Combined with an RSI above 50, the technical picture remains supportive of further gains.
Buyers will need to break above 100.60, a level that capped gains in March, to target 101.00 and then 102.00, the May 2025 high.
Support can be seen at 99.50, where horizontal support, the 20-day SMA and the rising trendline converge. Below here, the 50-day SMA at 99.00 and the 200-day SMA at 98.70 come into focus. A break below these levels would expose the May 2026 low at 97.60.
