Week Ahead June 5 – 9
EURUSD pair closed last week’s trading session unchanged after an attempt to break lower and an attempt to break higher. The pair’s attempt to break higher was due to dovish FED’s comments on interest rates. Few FED’s officials have previously comment that the central bank will increase rates by 0.25% in July. Although FED’s Jerome Powell signaled that the central bank is done with interest rates and this helped the pair to recover some lost ground. Although the better than expected non-farm payroll manage to bring the pair sharp on the downside erasing all gains and closed around same levels.
As for this week traders and investors will mainly focus on the economic releases. As the FED is entering its black week, where no comments are allowed ahead of July’s rate decision, the trading session expected to be choppy in a tide range. From the Euro side the most important catalyst will be the gross domestic product.
Il calendario economico prevede lunedì l'ISM servizi PMI statunitense che punta al ribasso a 51,5 martedì le vendite al dettaglio europee attese a -1,8% giovedì il prodotto interno lordo europeo atteso a 1,2%
Technically the picture is neutral after last week’s rejection of 61.8% and close just below (50%). In this week’s trading session if pair continues on the upside will test 1.0811 (38.2%) Alternative a break and close below 1.0625 (61.8%) will accelerate losses and open the road for 1.0500. Our traders are long at 1.0715 targeting profits above 1.1000 We are expecting more aggressive buyers at 1.0620 and short sellers to appear above 1.0923 (23.6%)
GBPUSD pair closed last week’s trading session marginally lower after an attempt an attempt to break higher. The pair’s attempt to break higher was due to dovish FED’s comments on interest rates. Few FED’s officials have previously comment that the central bank will increase rates by 0.25% in July. Although FED’s Jerome Powell signaled that the central bank is done with interest rates and this helped the pair to recover some lost ground. Although the better than expected non-farm payroll manage to bring the pair on the downside erasing all gains and closed lower than last week’s trading session.
As for this week traders and investors will mainly focus on the technical levels. As the FED is entering its black week, where no comments are allowed ahead of July’s rate decision, and the light economic calendar in the UK the trading session expected to be low in a tide range.
Nel calendario economico non c'è nulla dal Regno Unito. Lunedì il PMI dei servizi ISM degli Stati Uniti punta al ribasso a 51,5.
Technically the pair is neutral after last week’s close below (23.6%) As for this week if pair resumes on the upside will need to break and close above 23.6% in order to re-test 1.2650 Alternative if trades on the downside, will retest 1.2200 (38.2%) Short sellers are standing between 1.2200 – 1.2400 targeting profits at 1.2000 we are expecting more aggressive short sellers on the way up and new buyers to appear around 1.2200 targeting profits above 1.2500
Per un calendario economico più dettagliato, visitate il nostro calendario economico in tempo reale su:
https://tentrade.com/economic-calendar/
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