Brexit's topic number one for all the trading market movements around the globe. Mainly we will see pressure among the Pound; also Euro will suffer from high instability by the vote in Thursday. Although Fed's collapsed the last hope for high interest rates, US dollar remained strong and at one point won the battle with the Euro mainly from doubts that England can exit the EU. Take in mind that the market's movements this week will follow mainly the sociological analysis for the turn of ref's events by Thursday. World-Signals.com point of view for the upcoming events is that Great Britain will remain in the Euro union. That's why straight after the events pound and euro will bloom among the other currencies. Key level support for EURUSD is 1.1130, first resistance level in 1.1415. World-Signals.com strategy advice for this week is to buy Euro at and above levels of resistance 1.1410/1.1460.
The day June 15th at 18:00 GMT is the most important day and time for June and probably for the summer. In this time is expecting Fed interest rates decision. World-Signals.com expects high volatile market as depends on the situation EURUSD may move more than 400 pips within the first hour of trading. Ahead FOMC Interest rates decision the dollar recovery some of the losses by the U.S. Non-farm payrolls report last week. The recovery may continue till Wednesday at 18:00 GMT. The other important events in the week are Retail Sales on Tuesday at 12:30 GMT and Thursday CPI and Core CPI at 12:30 GMT. For the Euro Zone the most important events are EU CPI on Thursday at 9:00 GMT and Friday ECB President Draghi's Speech at 15:00 GMT. The support level of EURUSD is formed at 1.1135 while resistance level we see at 1.1415. After Fed events on Wednesday one of these levels will down. World-Signals.com trading strategy this week is to keep short positions until Wednesday. Interest rates rise with 25 bps is already generated by the market so is possible to see weak dollar at the mid of the week.
The bad non-farm payrolls report on Friday surprise the market and push the dollar into losses. The effect may continue this week but as overall World-Signals.com expects to see recovery of the dollar because it is widely expecting Fed to raise the interest rates on June 15th 2016. The most important events this week comes from Europe. These events starts on Monday EU Targeted LTRO at 9:30 AM GMT, Tuesday EU GDP at 9:00 AM GMT. On Thursday is Germany Imports/Exports, Current Account and Trade Balance at 6:00 GMT and for Friday Germany Wholesales Price Index, CPI and Harmonised Index of Consumer Prices at 6:00 GMT. The technical analysis shows continue of the uptrend with key support level at 1.1150 and resistance at 1.1410 and 1.1615. World-Signals.com trading strategy is to expect EURUSD to reach to the top at 1.1410 or more over the level of 1.15 and then to open short positions.
Crude Oil price reach to a strong resistance levels that may turn the price down below the levels of $45. The key resistance is at the levels above $50 - $50.20 for Crude Oil New York. World-Signals.com recommends to trade in the next couple of days in the trading range between $47 and $49.50 and to expect test of the levels below $45 next week.
EURUSD down below the level of 1.12 as World-Signals.com forecasts by the last week. This week there are two important events from United States - Durable Orders on Thursday at 13:30 GMT and GDP Second Estimate on Friday at 13:30 GMT. In Europe the first key events start at 8:30 GMT EU Markit Manufacturing PMI, Markit Services PMI and Markit PMI Composite. On Tuesday at 6:00 GMT is Germany GDP, at 9:00 GMT Germany ZEW Survey and Eurogroup meeting in the day. The next key events that we recommend to focus are on Wednesday at 8:00 GMT Germany IFO reports. The key support level for EURUSD is at 1.1143 as World-Signals.com expects to see test of the support level. The chances for break below are about 50%. The trading strategy this week is to trade within the range of 1.1150 and 1.1280. Also you can keep your short positions and may expect breaks below 1.1143. The investors continue to turn to the dollar as is widely expecting Fed to hike the interest rates in June 2016.
Last week Euro/Dollar down below the key support level of 1.1330 and the recovery of the dollar will continue. World-Signals.com expected this scenario as for the coming business week the investors probably will continue to buy dollars. The key events that will move the markets are on Wednesday FOMC Minutes at 18:00 GMT and Non-monetary policy's ECB meeting at 7:00 GMT. Also the focus is over Monetary Policy Meeting Accounts on Thursday at 11:30 GMT, Germany PPI on Friday at 6:00 GMT and United States CPI, Core CPI on Tuesday at 13:30 GMT and Industrial Production at 14:15 GMT. The investors will expect new stimulus for the Euro Zone growth. In the technical analysis shows key support levels of 1.1220 and 1.1145. The main resistance level is at 1.1445. World-Signals.com trading strategy this week is to open short positions and expect test the levels below 1.12.
Last week on 3rd of May EURUSD reach to the top level of 1.1616 and found strong resistance. In the last few days of the week the dollar recovered to the level of 1.14. World-Signals.com expects to see new recovery of the dollar in the week. In United States the investor focus is over the expecting PPI and Retail Sales on Friday at 13:30 GMT. In Europe the first key event for the week is on Tuesday Germany Trade Balance, Imports, Exports and Current Account at 6:00 GMT. On Thursday the focus is over EU Industrial Production at 9:00 GMT while for Friday the most important events are Germany GDP and CPI at 6:00 GMT and EuroZone GDP at 9:00 GMT. The dollar will continue to recovery as the key support level is at 1.1330. World-Signals.com recommends using this level to sell Euro for levels down to 1.12 or to use 1.1330 to open long positions if not break below.
The latest news and investors forecasts about the Fed interest rates politic move the markets. The Dollar losses against the Euro are caused by the cutting expectations of interest rates hikes in 2016. The first expectation was for 4 hikes in the year while these days are talking for one or maximum two interest rates correction into upward direction. World-Signals.com continues to expect maximum one interest rates raise in 2016. The major economic events that will move the market this week are on Friday US Nonfarm Payrolls and Unemployment Rate at 12:30 GMT. Also from United States the other key events are ISM Index on Monday at 14:00 GMT and Wednesday reports for Trade Balance at 12:30 GMT and ISM Services at 14:00 GMT. In Europe on Monday the focus is over EU Markit Manufacturing PMI at 8:00 GMT and Germany Markit Manufacturing PMI at 7:55 GMT. On Tuesday the most important events are PPI at 9:00 GMT and European Commission Releases Economic Growth Forecasts in unknown hour. On Wednesday at 7:00 GMT is Non-monetary policy's ECB meeting followed by Germany Markit Services at 7:55 GMT and EU Markit Services at 8:00 GMT. Any negative news by United States will signal for no more interest rates changes or maximum one raise with 25 bps till the end of the year. EURUSD is close to the key resistance at 1.1460 as World-Signals.com expects to see test above the level this week. The support levels are 1.1310 and 1.1140.