We begin a new trading year with lot of uncertainty.
Fristly, US data recent days performed very well but it's not enough to support USDollar.
Absolutely, we watch Payrolls on Friday and perhaps FOMC Minutes on Wednesday to find some signals to trade.
Secondly, Eurozone begins new year with many threat from terrorist; it just a small piece of a bigger picture. I think the biggest economy of Eurozone : Germany : would face a strong problem in 2016. Of course, someone will criticize me becuase Germany has the person of year: Madam Merkel, but I keep my point.
Markit PMI data is the central focus of EZ and Germany this week. I expect positive data.
Indeed, I don't know how to trade E/U this week, hard to say BUY or SELL.
E/U now is capturing between a tight range: 1.1050 and 1.0800 I draw on the chart.
I think in the short term, with lack of catalyst to guide the trend, E/U should trade in this range at least for 1 month.
1.1050 is actually a strong resistance because SMA100+SMA200 are lying at level.
I think the best trade is SELL at 1.1050 and BUY at 1.0800
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Sforex Solution: Do the right thing – Think the right way
Fristly, US data recent days performed very well but it's not enough to support USDollar.
Absolutely, we watch Payrolls on Friday and perhaps FOMC Minutes on Wednesday to find some signals to trade.
Secondly, Eurozone begins new year with many threat from terrorist; it just a small piece of a bigger picture. I think the biggest economy of Eurozone : Germany : would face a strong problem in 2016. Of course, someone will criticize me becuase Germany has the person of year: Madam Merkel, but I keep my point.
Markit PMI data is the central focus of EZ and Germany this week. I expect positive data.
Indeed, I don't know how to trade E/U this week, hard to say BUY or SELL.
E/U now is capturing between a tight range: 1.1050 and 1.0800 I draw on the chart.
I think in the short term, with lack of catalyst to guide the trend, E/U should trade in this range at least for 1 month.
1.1050 is actually a strong resistance because SMA100+SMA200 are lying at level.
I think the best trade is SELL at 1.1050 and BUY at 1.0800
F.B page: www.facebook.com/trackingforexsignals (tinyurl.com/jxayluk)
Web page: www.trackingforexsignals.com
Twitter: twitter.com/SforexSolution
Contact: admin@trackingforexsignals.com
Sforex Solution: Do the right thing – Think the right way