Bad news so far for the EUR…
During today’s Asian session the main focus was on the recent political issues concerning Germany.
This has placed quite a lot of pressure on the EUR during the Asian and early London session.
The recent trade rhetoric has also escalated from last week with Trump accusing the EU of unfair trade against the US.
Important Scheduled Economic events during today’s session to keep an eye on:
10:30 (SAST) | GBP will see Manufacturing PMI for June, seeing the market is looking towards a potential August rate hike by the BOE this could be an important event today for the GBP.
16:00 (SAST) | USD will see the ISM Manufacturing PMI, not expecting fireworks from this, but big surprises can move the market.
Our pair selection for today:
We have chosen the EURJPY as one of the pairs we will be watching closely today to look for trading opportunities.
EURJPY – H4
EURJPY – M30
Further comments on our pair selection:
This trade idea is based on the intraday weakness on the EUR due to the German political issues as well as the trade war challenges supporting the JPY.
Watch out for any further developments with the German political issues or trade war rhetoric as that will influence this trade idea drastically.
If you found this helpful do us a big favor and remember to like and share on Facebook and Twitter.
Risk Disclaimer: Forex Trading carries a high level of risk. It is possible for traders to lose entire trading accounts if they do not know what they are doing. This post is not an enticement, signal or recommendation to buy or sell any financial instruments. All of the information in this post should only be considered as general market commentary and should never be used as trading or financial advice.
Copyright © 2016 by Jaba Investments (Pty) Ltd. All rights reserved