Daily Strategy - The Dollar with strong support ahead Non-farm payroll week.
EURUSD (1.1726)
Trend: Neutral/Downward
Support/Resistance: 1.1560 - 1.1785
This week start with a holiday in United States. It is a Memorial Day and holiday in U.K. for Spring Bank Holiday.
In Germany on Wednesday there are important events that may send positive signals for the biggest economy in Euro Zone. Also on Wednesday we will focus over United States GDP report that also may send positive signal.
But the major fundamental news this week is schedule for Friday - U.S. Non-farm payroll report and Unemployment rate. It is also expecting positive news that already the market generated with the latest Dollar gains. The positive news for the Dollar may continue follows the end of the Trade war with China.
Our trading strategy this week is to trade into neutral direction in the first day of the week after the correction at the start of trading and to open short positions for new gains of the Dollar during the mid of the week.
EURUSD (1.1726)
Trend: Neutral/Downward
Support/Resistance: 1.1560 - 1.1785
This week start with a holiday in United States. It is a Memorial Day and holiday in U.K. for Spring Bank Holiday.
In Germany on Wednesday there are important events that may send positive signals for the biggest economy in Euro Zone. Also on Wednesday we will focus over United States GDP report that also may send positive signal.
But the major fundamental news this week is schedule for Friday - U.S. Non-farm payroll report and Unemployment rate. It is also expecting positive news that already the market generated with the latest Dollar gains. The positive news for the Dollar may continue follows the end of the Trade war with China.
Our trading strategy this week is to trade into neutral direction in the first day of the week after the correction at the start of trading and to open short positions for new gains of the Dollar during the mid of the week.
