On Tuesday, these are the following strong calendar news:
- 14.00 London time. SD, the index of business activity in the non-manufacturing sector (PMI) from ISM (May). The expected value is 57.9 compared to the previous value of 56.8;
- 14.00 London time. USD, the number of open vacancies in the labor market JOLTS (Apr). The expected value is 6.490M compared to the previous value of 6.550M.
Trend analysis (Figure 1).
On Monday, the price continued to move in the side channel. Truly, there was an unsuccessful attempt to move upward to achieve a recoil rate of 23.6% at 1.1758 (blue dotted line). On Tuesday, the upward movement will most likely continue to this recession level. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion.
On Tuesday, the market will move up towards the first goal at 1.1758 with a recoil level of 23.6% (blue dotted line).
The material has been provided by InstaForex Company - www.instaforex.com