⚡ Easily Trade – Apple, Microsoft, Tesla and Google Stocks – Open a FREE Account Here

ECB Policy Minutes Awaited

Top Things to Watch During The U.S. Session Today

Posted Thursday, June 14, 2018 by
Arslan Butt • 1 min read

The global financial markets are trading sideways ahead of the ECB rate decision.  The U.S- Chinese trade war tension has taken center stage for dollar-denominated instruments, and current operations of geopolitical and global economic events have given all major safe-haven instruments a boost in value. Watch out for these 5 things during the New York session today…

Gold – Triple Top Pattern

Recalling my earlier update Gold on Front Foot Ahead of European Trading  – Placing the Sell Limit, the idea is to stay in sell below $1,306 and the market is almost there. But we are very close to the news (ECB rate decision), so I just removed the sell limit. I will probably take a manual entry after the press conference.

Nikkei – Bearish Trendline Setup

Global stock market indices are trading down ahead of the ECB press conference. Japan’s Nikkei is also trading bearish and has violated a solid support level of $22,800. For the moment, the same level is working as a resistance. I will be looking to take a sell position below $22,800 with a small stop loss of 30/40 pips to target 60 pips.

GBP/JPY – Triple Top Level

Lastly, the GBP/JPY has soared below a triple top resistance zone of 147.850 and that’s where I would be looking to take my sell position. The stop is likely to be at 148.150 along with a take profit of 147.450.

Retail Sales m/m – 12:30 (GMT)

Economists are expecting a 0.4% rise in retail sales and 0.5% rise in core retail sales. A higher number of sales indicate a higher inflation and growing economy. So, the positive data will be good for the greenback.

Good luck and trade with care!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments