Current market analysis and trade overview
As expected the market remains in the range between the 1.2460/1.2502 and the 1.2695/1.2735 with the US holiday falling Midweek and the MAJOR news drivers on Friday.
Troika arrives in Athens today to review the Greece’s finances with the new government.
Eyes will watch carefully the U.S. jobs report to see the latest developments in the U.S. jobs market, where U.S. employers probably hired 90,000 in June from 69,000 in May, while unemployment lingered at 8.2%, according to most forecasts.
Unemployment in the euro zone hit 11.1 percent, its highest level since the creation of the currency union.
E?U – current 1.2580 – SELL STOP1.2558 with TP at 1.2524 – Since we are range bound – Watching for bounces off 1.2520/1.2502 area for BUY this session - Pair may Stall 1st Time
Alternative plan – Let pair move above 1.2600 to 1.2615 /1.2627 area and reverse – SELL STOP 1.2599 with TP 1.2567 (above 1.2630 is more risk so Ill still look to sell rallies up here with an entry higher than 1.2599)
G/U – current 1.5690
Let pair move above 1.5700 to 1.5715 /1.5725 area and reverse – SELL STOP 1.5695 with TP 1.5659
As usual Ill monitor the trades for signs of early stalling and/or momentum and critical areas for either early exits or continuation
All eyes out for news bombs from the Troika this session.
Also the RBA is making its rate announcement tonight so I will be watching that for volatility.
Good luck everyone
As expected the market remains in the range between the 1.2460/1.2502 and the 1.2695/1.2735 with the US holiday falling Midweek and the MAJOR news drivers on Friday.
Troika arrives in Athens today to review the Greece’s finances with the new government.
Eyes will watch carefully the U.S. jobs report to see the latest developments in the U.S. jobs market, where U.S. employers probably hired 90,000 in June from 69,000 in May, while unemployment lingered at 8.2%, according to most forecasts.
Unemployment in the euro zone hit 11.1 percent, its highest level since the creation of the currency union.
E?U – current 1.2580 – SELL STOP1.2558 with TP at 1.2524 – Since we are range bound – Watching for bounces off 1.2520/1.2502 area for BUY this session - Pair may Stall 1st Time
Alternative plan – Let pair move above 1.2600 to 1.2615 /1.2627 area and reverse – SELL STOP 1.2599 with TP 1.2567 (above 1.2630 is more risk so Ill still look to sell rallies up here with an entry higher than 1.2599)
G/U – current 1.5690
Let pair move above 1.5700 to 1.5715 /1.5725 area and reverse – SELL STOP 1.5695 with TP 1.5659
As usual Ill monitor the trades for signs of early stalling and/or momentum and critical areas for either early exits or continuation
All eyes out for news bombs from the Troika this session.
Also the RBA is making its rate announcement tonight so I will be watching that for volatility.
Good luck everyone