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Main » 2019 » June » 4 » How to make the trader today Trading Ideas 04.06.2019:? ERU / USD - a chance to sell more
11:37
How to make the trader today Trading Ideas 04.06.2019:? ERU / USD - a chance to sell more

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The European currency during the trading session on Monday strengthened against its US rival, closing the day at 1.1239. Rising dynamics is preserved in the Asian session on Tuesday, providing a great opportunity to the sellers, looking forward to a soft rhetoric of the ECB on Thursday, open Sell at higher prices. Eve will support euro was weak data from the US, reporting the decline in activity in the manufacturing sector. At the same time market participants are almost completely ignored for at least the weak data on business activity in the manufacturing sector in Germany and the Eurozone as a whole. 

 

AMarkets

 

Given that the weak European statistics will be another reason for the ECB to use additional tools of monetary stimulus, we recommend once again to understand the potential long-term weakening of the main foreign exchange risk. Recall that in as early as this coming Thursday ECB President Mario Draghi will present to market participants the details of the program of long-term bank refinancing TLTRO. Considering that the aim of the program will be the promotion of economic growth and inflation, its conduct is inconsistent with the way the national currency. It is possible that at this stage the market is fulfilled classic strategy - buy on expectations, sell the fact. In this case, the reversal is imminent and can occur before the end of the week, for example,


EURUSD SellLimit 1,1290 TP 1,1010 SL 1,1330


Brent crude oil continues to fall amid concerns over the prospects for global economic growth. After quite a volatile day of Brent closed the trading session on Monday at the $ 60.76 level. As expected, the sellers clearly aimed at testing support at $ 60 per barrel, which could be followed in the coming hours. Risky assets have become less attractive after the release of weak data on the state of the US industrial sector, once again returning to the market talk of a slowdown in the leading economies. ISM purchasing managers' index for the manufacturing slipped to 52.1, reaching the lowest level since October 2016. Recall that the index value above 50 indicates growth in activity, while values ​​below 50 indicate decline. Meanwhile calculated by IHS Markit index of US manufacturing sector business activity in May fell to almost a ten-year minimum. Similar data for the euro area manufacturing sector activity also pointed to continued decline. Apparently, the industrial recession has become a global trend that, given the increase in customs duties will have even more pressure on an already slowing world economy. Against this backdrop, hedge funds reduced their net long positions in crude oil for the period of May 22-28 the fifth week in a row, bringing it to its lowest level since mid-March. With that said, we are sure to hold the "short" positions. industrial decline has become a global trend that, given the increase in customs duties will have even more pressure on an already slowing world economy. Against this backdrop, hedge funds reduced their net long positions in crude oil for the period of May 22-28 the fifth week in a row, bringing it to its lowest level since mid-March. With that said, we are sure to hold the "short" positions. industrial decline has become a global trend that, given the increase in customs duties will have even more pressure on an already slowing world economy. Against this backdrop, hedge funds reduced their net long positions in crude oil for the period of May 22-28 the fifth week in a row, bringing it to its lowest level since mid-March. With that said, we are sure to hold the "short" positions.


Brent SellStop 60,90 TP 59,50 SL 61,30


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets.

 

 

 

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