June 23rd – 27th
EURUSD pair closed last week’s trading session marginally lower after a choppy weekly trading session. The pair is looking for direction as is directly affected from US Dollar’s strength given the geopolitical tensions between Iran and Israel. At the beginning of the week, US Dollar gather some strength on FED’s hawkish meeting released on Wednesday. The central maintained interest rates unchanged and send some warning signals in the markets, highlighting growing concerns if US will join Israel in the war against Iran. By the end of the week US Dollar traded lower as is soften on Trump’s comments that will give Iran another two weeks to compromise with the its nuclear program and will decide within two weeks whether US will directly involve in the war.
As for this week, traders and investors once again will mainly focus on the war between Iran and Israel and whether US will join the war. Heavy economic calendar ahead. FED’s and ECB’s officials’ speeches including FED’s chairman Powell and ECB’s Lagarde will generate some volatility in the pair.
On the economic calendar we have on Monday, the European Manufacturing PMI pointing higher at 49.7, European services PMI higher at 50 and US services PMI lower at 52.9 On Thursday, US Gross domestic product pointing lower at -0.2% On Friday, US Personal consumption expenditures steady at 0.1%
Technically the picture is positive after last week’s close above (23.6%) at 1.1518 In this week’s trading session if pair trades on the upside will test 1.1626 A break out and close above 1,1626 will open the road for 1.1726 If trades on the downside will test 1.1416 (23.6%) A break and close below 1.1416 will add downside pressure and test 1.1285 Our traders are standing with short positions starting between 1.1263 and 1.1580 targeting profits at 1.1169 we are expecting more aggressive short positions on the way up and new long positions at 1.1169
GBPUSD pair closed last week’s trading session lower on BOE’s dovish meeting. Even though the central bank kept interest rates unchanged, the decision of 3 MPs to vote for a rate cut of 0.25% triggered a selloff in GBP. Pair continue to trade lower given US Dollar’s strength due to geopolitical tensions between Iran and Israel and FED’s hawkish meeting. By the end of the week US Dollar traded lower as is soften on Trump’s comments that will give Iran another two weeks to compromise with the its nuclear program and will decide within two weeks whether US will directly involve in the war.
As for this week, traders and investors once again will mainly focus on the war between Iran and Israel and whether US will join the war. Heavy economic calendar ahead. FED’s and BOE’s officials’ speeches including FED’s chairman Powell and BOE’s governor Bailey will generate some volatility in the pair.
On the economic calendar we have on Monday, the UK Manufacturing PMI pointing higher at 50.3, UK services PMI higher at 50.9 and US services PMI lower at 52.9 On Thursday, US Gross domestic product pointing lower at -0.2% On Friday, UK gross domestic to remain unchanged at 1.3% and US Personal consumption expenditures steady at 0.1%
Technically the pair’s overall picture is positive after last week’s close above (23.6%) at 1.3448 As for this week, if pair trades on the upside, will test 1.3632 A break and close above 1.3632 will open the road for 1.3700 Alternative, if trades on the downside, will test 1.3421 (23.6%) A break and close below 1.3421 will open the road for 1.3288 Our traders took profits on most of their short positions and keep open few old short positions between 1.3305 – 1.3400 targeting profits at 1.3270 we are expecting more aggressive short positions on the way up and new long positions starting at 1.3270 (38.2%)
Untuk acara kalender ekonomi yang lebih terperinci, silakan kunjungi kalender ekonomi langsung kami di:
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