This week, a number of major econmic announcements are due which would certainly give the market much volatility nnot seen in recent weeks.
Here's my daily game plan for week 27.
MONDAY, JUNE 29
BUY NZD/USD
At 6:45 am (Manila), New Zealand's Trade Balance data comes out. Expected to be better than previous, it should be bullish for the Kiwi.
BUY EUR/USD
At 5:00 pm (Manila), Eurozone consumer confidence data comes out, expected to be slightly better than previous. This should be bullish for the Euro.
TUESDAY, JUNE 30
I'm not trading on this day.
WEDNESDAY, JULY 1
BUY or SELL USD/JPY based on the all-important Tankan Indices. Disappointment could send the pair upward. In-line or better than expectation should be positive for the Yen.
BUY GBP/USD
At 4:30 pm, UK Manufacturing PMI will come out with number expected to be bullish for the Pound.
BUY EUR/USD, AUD/USD, NZD/USD
In the evening, a slew of US economic announcements come out. I am betting that better numbers concerning the US economy will make investors jump out o the low-yielding USD into the better-yielding high-beta currencies. Will watch price action on the daily and hourly charts and enter on setups.
THURSDAY, JULY 2
Will watch price action on the daily and hourly charts and scalp some pips. On this day, Euro Interest rate decision is due. Also, US Non-Farm Employment data comes out. Last month, US non-farm payrolls surprised the market. I do not expect such a surprise this time and so, with a combination of these two, I am more biased toward going LONG EUR/USD.
I will also be watching price action on the following pairs: GBP/USD, USD/CAD, AUD/USD, USD/JPY and NZD/USD and go LONG in case setups present themselves.
FRIDAY, JULY 3
US holiday. Will not trade. I expect light trading on this day.
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