• Add

Forex trading plan for May 27


US dollar remains strong versus other currencies. American durable goods data came out in line with expectations with the previous readings revised to the upside.

EUR/USD slid to 1.0900 and may test 1.0800. Greece remains the main area of concerns. In June the nation has to repay 5.7 billion euro in short-term bills and 1.56 billion euro to the International Monetary Fund. Disagreements between the nation and its creditors remain in areas such as budget targets, sales-tax rates, and pension and labor market rules. On Tuesday Greek officials are negotiating with representatives of the European Commission and the IMF. The euro may also weaken versus the franc as demand for Swiss currency is mounting with increasing tensions in the euro area. Watch 1.0300 and 1.0225 on the downside.

GBP/USD fell to 1.5450. The pair needs to rise back above 1.5500 to relieve the bearish pressure. The pair is driven by the sentiment about the US dollar. Decline to 1.5270/1.5175 looks likely at this point.

USD/JPY reached 8-year high in the 123.00 area. Levels to watch on the upside include 123.66 (July 2007 high) and 124.13 (June 2007 high). Support is at 122.05/00, 121.70 and 121.00/120.85. The Bank of Japan will release its meeting minutes on Wednesday morning.

AUD/USD is trying to hold on to 0.7800. Below target levels lie initially at 0.7700 and then at 0.7650. Resistance is at 0.7950 and 0.7900.

USD/CAD rose to 1.2400. A close above this point will be bullish, but dovish comments from Canadian central bank are still necessary to allow growth to 1.2550 and higher. The Bank of Canada’s meeting will take place on Wednesday. No changes in the monetary policy are expected.

Source: https://fxbazooka.com/en/analitycs/show/5200
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}