Trading Recommendations for 18.06.2019

On the EURUSD pair, the price returned below the 1.12500 level and the trend line, forming an Inside Bar. It looks like the breakout of the trend line was false and we will continue falling toward 1.11000 or lower. I am looking at sells here.

The first trading session of this week on Asian markets passed with minimal activity, with the Hang Seng index among the leaders of growth, and the index recovered after the Hong Kong administration changed its tough stance. Its head Carrie Lam publicly apologized to the protesters and postponed the adoption of the extradition law to China for an indefinite period.

In the other markets, investors are waiting for Wednesday, on this day the Fed will announce the interest rate decision, it may be reduced or remain within the previous range, with a promise of a downward revision.

In the morning, the first indicators by country this week were released:

American investors on Monday fully bought back Friday's decline, the NASDAQ became the leader of the day, gaining ground thanks to the surge in Netflix and Facebook shares, with Facebook preparing to launch its own cryptocurrency.

In the Forex market there is a slight weakening of the US dollar, traders have lost confidence in a Fed rate cut tomorrow, and are also concerned about the downgrade of the global economic growth forecast by Fitch.

News will be released in the evening:

European markets showed mixed dynamics in Monday trading, the exhibition in Le Bourget and preparations for the second round of voting for candidates for the post of British prime minister ensured growth for the French CAC40 and the British FTSE100 index.

The German DAX remained in negative territory, showing a buildup of the domestic political and economic crisis in the EU. Italy's public debt rose to record historical values, the country faces sanctions aimed at forcing the government to save.

They will demand that the Cabinet refuse the assumed social obligations and preferential payments, which means political death for the opposition. Its leader Matteo Salvini decided to seek support in the USA, having arrived in Washington yesterday. At the meeting with Secretary of State Mike Pompeo, it became clear that Italy is ready to become an American ally in Europe in exchange for trade agreements. Such a policy can bring political division to the EU.

 During the European session, it is worth paying attention to the statistics:

Respectfully, Artem aka TeaDrinker
TradeLikeaPro

Respectfully, Artem aka TeaDrinker
TradeLikeaPro