April 27th – May 3rd
EURUSD pair closed last week’s trading session marginally lower after a calm weekly trading session as markets are digesting the tariff war between US and China. Non-official rumors regarding cancelation of tariffs for some US goods in China boosted sentiment in Equity markets and helped the pair stabilizing.
As for this week, apart from US – China trade war, traders and investors will mainly focus on the heavy economic calendar with the main two indicators the US PCE and US Nonfarm payrolls.
On the economic calendar we have on Wednesday, German Gross domestic product pointing higher at 0.2% German retail sales pointing lower at -0.4% European Gross domestic product pointing higher ta 0.2% German Harmonized index of consumer prices steady at 0.3% US ADP employment to add 130K new jobs US PCE lower at 0.1% US gross domestic product lower at 0.4% On Thursday, US ISM manufacturing PMI expected lower at 47.9 On Friday, European Harmonized index of consumer prices expected higher at 2.5% US Nonfarm payrolls to add 130K new jobs and US Hourly hours earning steady at 0.3%
Technically the picture is positive after last week’s close above (23.6%) at 1.1361 In this week’s trading session if pair trades on the upside will re-test 1.1468 (0%) A break out and close above 1,1468 will open the road for 1.1568 If trades on the downside will test 1.1273 (23.6%) A break and close below 1.1273 will add downside pressure and test 1.1134 Our traders are net short positions between 1.1260 – 1.1468 targeting profits at 1.1150 if pair trades on the downside we are expecting take profits on short positions and new long positions starting at 1.1150 More aggressive short positions are expected on the way up
GBPUSD pair closed last week’s trading session marginally higher after a calm weekly trading session as markets are digesting the tariff war between US and China. Non-official rumors regarding cancelation of tariffs for some US goods in China boosted sentiment in Equity markets and helped the pair stabilizing.
As for this week, apart from US – China trade war, traders and investors will mainly focus on the US PCE and US Nonfarm payrolls.
On the economic calendar we have on Wednesday, US ADP employment to add 130K new jobs US PCE lower at 0.1% US gross domestic product lower at 0.4% On Thursday, US ISM manufacturing PMI expected lower at 47.9 On Friday, US Nonfarm payrolls to add 130K new jobs and US Hourly hours earning steady at 0.3%
Technically the pair’s overall picture is positive after last week’s close above 0% at 1.3307 As for this week, if pair trades on the upside, will test 1.3410 A break and close above 1.3410 will open the road for 1.3500 Alternative, if trades on the downside, will test 1.3157 (23.6%) A break and close below 1.3157 will open the road for 1.3078 Our traders are sitting on the side for now waiting new technical levels. We are expecting new short positions on the way up and new long positions starting at 1.3157 (23.6%).
For more detailed economic calendar events please visit our live economic calendar on:
https://tentrade.com/economic-calendar/
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