Jun 29 2021 0
Market volatility is very low. However, this is the end of the month, so we should not take it lightly. Please set SL carefully when trading. Good luck guys!
- The dollar was generally steady on Monday after global markets started the week in a cautious mood, with focus shifting to key US labor data at the end of the week.
Lower-than-expected US inflation data late last week did not alleviate concerns about the Fed easing its stimulus any time soon.
A race is on to save the European holiday season as the new strain of Covid-19 is highly contagious, and it risks leading to more travel restrictions as soon as summer begins.
Officials of the European Central Bank (ECB) have made somewhat dovish comments, following previous signals.
The price continues to fluctuate in a narrow range in the forming bullish flag pattern. However, if in the previous session we had bullish candlestick patterns, today, on the contrary, bearish candlestick patterns appeared. In general, the signals are conflicting with each other, we should avoid trading at this time, and wait for more new signals around the key price zones.
After bearish signals including a bearish flag and a bearish pin bar pattern on the daily, the price went down as expected although the downward force was not strong. We continue to maintain the existing sell orders, set the initial target around 1.185, SL stays above 1.20, avoid moving SL too soon.
Sell orders are still going in the right direction, we continue to maintain these orders and set initial target around 1.38, might consider moving SL to reduce risk.
The price has bounced up in the last session, but the increase is quite weak, we still should not move the stop loss of the buy orders, so we continue to place below 1.225, the target for these buy orders is still around 1.245.
After the mentioned bearish signals in the previous session (including bearish engulfing on H4 and bearish pin bar on daily), the price is falling as expected, we continue to maintain sell orders, set initial target around 0.75 zone.