June (WK1) Market Update

After the positive numbers on the Non Farm employment numbers from the United States, the USDollar regained the strength it was apparently loosing for the whole week and we saw most majors and minors reacting accordingly. EUR and GBP crosses are now in a very indecisive moment while AUD, NZD and JPY proving its weakness against the American currency and continuing the announced trends from the previous couple of weeks.

On the Indices there was nothing but countertrend moves for the whole week. Europe, America and even Asia this time, dropped almost continuously day after day with price now at the lowest levels of the last 2 weeks on most of these instruments.

On the commodities side, Gold and Oil also dropped and are now both within the tight range of the last months.

 

Best Trades this week

  1. EURNZD (Daily Chart) – Continuation long – 26.05.2015 – After the pullback to the moving averages, the low test bar was the perfect excuse to place this order. Currently at around +4%.

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  1. EURJPY (Daily Chart) – Continuation long – 26.05.2015 – After retesting the new found suppot level at around 133.50, the engulfing buyer bar was the signal we were wating for. Now at almost +4% in profit.

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EFFECT OF THE NEWS LOOKING FORWARD

This week the will be once again focusing on the any news regarding the Greek debt. The G7 meetings on Sunday and Monday should shed some light over the issue as more and more news are coming out every day about a potential abandon of the Euro in Greece.

On Wednesday it will be time to listen to Gov. Carney at the annual Mansion House dinner which speech might also give out some indication towards the Sterling overall direction.

Thursday and Friday the news will come from over the Atlantic where we will have the unemployment claims and the consumer sentiment numbers from the United States.

Regarding the current charts, on the currency market, we are now just waiting for the overall trends to pick up from the end of the week. With the renewed USDollar strength we are once again looking for clearer price action that will allow us to jump into next potential opportunities.

Regarding the Indices, these are currently at potential buying levels se we are paying close attention to any price signal to enter the market. As for the commodities, we are still holding for more decisive moves on Gold and Silver and Oil.