Trends are not Broken

Morning review.

As you know, today marks the celebration of US Independence Day. Therefore, trades have lesser volumes. The report on the US industrial production index released on Monday exceeds its forecasts with 57.8 - strong data. However, the markets ignored the strengthening of the dollar. So far, the new missile launch by North Korea goes against the US dollar.

Everyone awaits for the G20 in Hamburg this coming weekend. The summit should be worked out by Trump and Putin, but there are some serious concerns between the US and the Germany.

Important releases from Wednesday to Friday: Fed minutes on Wednesday, US employment reports - from ADP on Thursday and Nonfarm Payrolls Report on Friday.

The market trends for major pairs including the euro, pound, franc and Australian (except the Japanese yen) go against the dollar. The yen is a trend favors the growth of the dollar. The trend remained to strengthen even there are kickbacks.

We will buy the EUR/USD currency pair at 1.1380 as it breakout upwards (H4 chart) and to break 1.1445 (the scale of the day). Canceling the 1.1150 upward trend.


The material has been provided by InstaForex Company -