The most expected news came from Osaka where Trump was meeting with the Chinese leader Xi Jinping and with Russian President Vladimir Putin. Here are the main results of G-20:
1. Russia agreed to prolong the agreement with OPEC. By the way – on Monday and on Tuesday OPEC countries are meeting in Austria. Economists are sure that the oil production cut agreement will be prolonged till the end of the year.
2. The US and China decided not to start a tariff trade war and to continue negotiation process.
The reaction on the market was the following – GOLD went down and the US dollar went up.
As for USD – the market worries that Fed may leave the interest rate at the same level.
Meanwhile Markit Manufacturing PMI was published. The fact is getting worse and worse – 47.6 against the previous data 47.7).
This week we are looking at EUR/USD again. And again, we think that it is possible to open shorts. Here are some technical factors.
Technical analysis
On 1D TF the pair is testing its 200-EMA. We can expect, that 200-EMA will become some type of a resistance line. There is a possibility that euro will return back to its trend line. The first target is 50% Fibo correction level – around 1.13000
Picture 4. EUR/USD. 1D TF
Summary: it is possible to open short positions. We recommend to pay attention to ISM statistics and of course to the NFP this Friday.
1. Russia agreed to prolong the agreement with OPEC. By the way – on Monday and on Tuesday OPEC countries are meeting in Austria. Economists are sure that the oil production cut agreement will be prolonged till the end of the year.
2. The US and China decided not to start a tariff trade war and to continue negotiation process.
The reaction on the market was the following – GOLD went down and the US dollar went up.
As for USD – the market worries that Fed may leave the interest rate at the same level.
Meanwhile Markit Manufacturing PMI was published. The fact is getting worse and worse – 47.6 against the previous data 47.7).
This week we are looking at EUR/USD again. And again, we think that it is possible to open shorts. Here are some technical factors.
Technical analysis
On 1D TF the pair is testing its 200-EMA. We can expect, that 200-EMA will become some type of a resistance line. There is a possibility that euro will return back to its trend line. The first target is 50% Fibo correction level – around 1.13000
Picture 4. EUR/USD. 1D TF
Summary: it is possible to open short positions. We recommend to pay attention to ISM statistics and of course to the NFP this Friday.