Daily Analysis 2014-06-06
Good morning EURUSD - Yesterday we saw a very volatile session across the European board,
The pairs moved around 170 pips range, made an outside candle on a daily chart.
Lower rates in Europe, the EUR is cheap, it is very possible that a down trend will start in some of the EUR pairs.
More volatility is expected, Buying the EURUSD around 1.3635 with a stop loss of 30 pips can generate a nice ratio of 3:1 if the you EUR will continue to go up towards the 1.3740 level (200 SMA in the 1 Hour chart)
Important news is duo today, The N.F.P. will be published later on today at 15:30 MT4 server time.
The USDJPY loves to go up during the N.F.P. in some cases it's just jumps higher from it's current price around 50-70 in less then 1 minute, So a buy position with a close STOP LOSS
Indexes are touching the sky, every new day we have a new high, looking for the correction ? Maybe it's about time, the indexes has a good statistics of been in a down trend during the summer months, June / July / August , we will try to find a reversal candle in the 4 hour chart, to signal us the right time and price to sell the US indexes.
But be aware and be careful, don't forget to place SL in the positions, cause when an Index is breaking up, it can continue without even blinking.
UK100 is the weakest index, barley went up, possible to have the bigger profit in the correction with this Index, the 6890 level is a resistance for the last 5 months.
An expensive oil barrel (now at 102.10) can help the Indexes to start the correction, Buying the oil 102.10 with a 100 pips stop, and try to hold it till 104.35
EURCHF is not going up, so maybe the direction is down ? sell the pair till the 1.2040 level, sounds with a low change trade, but it's worth the try.