Amazing week ahead of us. A historic summit between US and North Korea is the main focus of investors. Expected deal to completely denuclearise the Korean peninsula is the main goal of Trump's team. If the deal goes through, risk-on mood should push risk currencies up, especially after disastrous G7 meeting and tensions rising between Trump and allies.
EURUSD will be affected by both FOMC and ECB meeting this week. FOMC expected to increase rates and ECB to start reducing its stimulus, pay attention to press conferences.
Technically, price action could be retesting 38% retracement level, providing good entry for long positions or retrace back to test the trend line. We are still in a downtrend.
RSI is at 50, showing that price is waiting for a push from investors.
Analysts consider this to be potentially the most pivotal week, both economically and politically, for the world in 2018.
Happy Trading!
EURUSD will be affected by both FOMC and ECB meeting this week. FOMC expected to increase rates and ECB to start reducing its stimulus, pay attention to press conferences.
Technically, price action could be retesting 38% retracement level, providing good entry for long positions or retrace back to test the trend line. We are still in a downtrend.
RSI is at 50, showing that price is waiting for a push from investors.
Analysts consider this to be potentially the most pivotal week, both economically and politically, for the world in 2018.
Happy Trading!