New week ahead. Monday starts with events coming out from Japan, the EU and Canada. Let’s see what those are. Japan JPY 05:30 a.m. GMT + 1, Tertiary Industry Acvitivty Index (MoM) – the index is a leadign indicator of economic health. It measures the change in the total value of services bought by businesses.
EURUSD, Daily timeframe Bias: Uptrend On Friday, the most traded and liquid pair respected the Resistance at 1.2067 and closed about 30 pips below it. It should be noted that we do not have a bearish engulfment candle so price is currently testing the resistance but still there is no sign of a retracement to
On Friday, we have three major market-moving news from 3 economies. Currencies of the respective countries are likely to be impacted and potential opportunities could occur. Japan JPY 00:50 a.m. GMT + 1, GDP (QoQ) (Q2) – Gross Domestic Product for the second quarter of 2017 will be the first focus of the day. The
EURUSD, Daily timeframe Bias: Uptrend On Thursday the pair reached the first target level we discussed at 1.2068. The euro was boosted by Mario Draghi’s positive outlook about the Euro Zone. Question is where to from now on? Scenario 1: The established main trend is a bullish one- this would involve a long-term positive outlook
It’s going to be a busy day across markets. We have news coming in from Australia, Europe, Canada and the United States. All of those are high-impact events to shake up the markets. Australia AUD, 02:30 a.m. GMT +1, Retail Sales (MoM) (Jul) – analyst expectations are for no change at 0.3%, same as last
EURUSD, Daily timeframe Bias: Uptrend The euro dollar pair traded above the Resistance level at 1.1900 on Tuesday. The pair gained a mere 24 pips but today, we could see a lot more action, especially with the interest rate decision coming out from the ECB. On Tuesday, we also had Fed’s Fischer announce his resignation
Yesterday, the Australian dollar had a strong bullish activity waking up from its recent slumber mode. We have three major catalysts for action for the day. The currencies involved are likely to undergo potential significant price movement changes. Australia AUD 02:30 a.m. GMT + 1, GDP (QoQ) (Q2) – one of the most important indicators
EURUSD, Daily timeframe Bias: Uptrend The pair is currently consolidating around the 1.1900 level. This is oftentimes the market being quiet before price action breaks either way. The key is that we do not know the specific time that volatility will kick in so we have to be prepared for determining the levels at which