Review of trading ideas in the main currency pairs for 21.06.2019

Hello. Below will be several recommendations for trading on the Forex market for 21.06.2019

On the GBPJPY pair, a Doji pattern formed below the 137.00 level. This is probably a signal of the end of the correction, to the previously broken level. And it is worth waiting for the resumption of the decline along the downward trend. I am considering sales here.

The soft credit policy of the US Federal Reserve and the Bank of Japan served as the reason for a three-day rally in the stock market. Asian investors on Thursday repeated the reaction of their American colleagues, who ended Wednesday's trading positively, and continued to rise against the background of the untouched negative rate of minus 0.1% by the Japanese central bank.

Such behavior by the monetary authorities of the Land of the Rising Sun is justified by today's inflation statistics - 0.8% in May, against April's 0.9%.

At Thursday's trading, investors continued to price in the future rate cut. Market participants are buying stocks, assessing the Fed's future actions to support the economy as proactive, capable of preserving the GDP dynamics of 2020 at the level of 2019. Additional growth incentives will appear as a result of falling raw material prices and new trade agreements with China.

At the current moment, oil managed to sharply recover in value, quotes soared by 6% after reports of a US drone shot down by Iran and the suspension of transit through the Druzhba oil pipeline.

News will be released in the evening:

European investors in yesterday's session moved in line with global stock trends, pricing in the results of the Fed meeting and the decision of the Bank of England, which kept the rate and the QE program unchanged, but promised to take support measures during the Brexit period.

Candidates for the post of Prime Minister of Great Britain - Boris Johnson (left) and Jeremy Hunt (right)

Obviously, Great Britain will return to the issue of leaving the EU in July after the election of the Prime Minister and the leader of the Conservative Party.

Two candidates made it to the final round of voting - Boris Johnson and Jeremy Hunt, the party members will make the final choice by mail, sending letters with their votes to the Government.

European markets will end the last session of the week with the following statistics:

Respectfully, Artem aka TeaDrinker
TradeLikeaPro