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Dollar fails but may gain ahead Fed interest rates decision next week

Discussion in 'Technical Analysis' started by World-Signals, Jun 5, 2016.

  1. World-Signals

    World-Signals Member Trader

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    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.
     

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