Last week the EURUSD broke the 1.1170 horizontal level and jumped higher on Monday, signifying a formed bearish trap.
The Russian ruble is staying under the 65.00 level. So far, we assume that it may pull back down from the horizontal line again due to the decreased risk of sanctions and expensive oil.
Buy 111.05, Stop Loss 110.55, Take Profit 114.35.
We think the labour market shall not surprise us this Friday.
Candlesticks have formed a bearish engulfment, which has presed against the monthly descending trend.
The latest US labour data has confirmed predictions that we made a month ago.
Considering the recession probability in the UK, the central bank may lower the interest rates.
The turmoil surrounding the UK referendum has calmed down and liquidity is returning to the markets.
The Japanese currency is approaching strong monthly resistance levels.
The polls turn up conflicting results each day.
The referendum regarding UK’s memebership in the EU is coming soon.
We can see strong signals for growth with EUR/USD.
The Fed has also been monitoring this in attempts to get clues regarding upcoming inflation.
We shall sell the GBP at the horizontal level.
A small review for the CAD.