Week Ahead December 30th – January 3rd
EURUSD pair closed last week’s trading session unchanged. After a muted weekly trading session due to Christmas holidays the markets were calmly hovering within a tide range without any significant or unexpected price action.
As for this week, traders and investors will mainly focus on the technical levels. As we are entering the second festive week of New year’s holidays with many markets closed the general weekly trading session is expected to be muted again.
On the economic calendar we have on Friday, the ISM manufacturing PMI pointing lower at 48.3
Technically the picture is negative after last week’s close below (23.6%) at 1.0421 In this week’s trading session if pair trades on the upside and breaks out of 1.0500 (23.6%) will change the picture to neutral and could test 1.0575 (38.2%) If trades on the downside will test 1.0358. Our traders are net long with positions between 1.0767 – 1.0348 targeting profits above 1.1000 We are expecting new short positions above 1.0913 and more aggressive long positions on the way down.
GBPUSD pair closed last week’s trading session unchanged. After a muted weekly trading session due to Christmas holidays the markets were calmly hovering within a tide range without any significant or unexpected price action.
As for this week, traders and investors will mainly focus on the technical levels. As we are entering the second festive week of New year’s holidays with many markets closed the general weekly trading session is expected to be muted again.
On the economic calendar we have on Friday, the ISM manufacturing PMI pointing lower at 48.3
Technically the pair’s overall picture is negative even after last week’s close below 23.6% at 1.2575 As for this week, if pair trades on the upside, will test 1.2693 (38.2%) Alternative, if trades on the downside, will test 1.2490 (0%). Our traders are net long between 1.3038 and 1.2495 targeting profits above 1.3038 We are expecting new short positions above 1.2973 and more aggressive long positions on the way down.
For more detailed economic calendar events please visit our live economic calendar on:
https://tentrade.com/economic-calendar/
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