Trading Opportunities for May 28, 2019
On Tuesday, markets and investors in the FX market will focus on reactions from the announcement of US consumer confidence. Ahead of the announcement of the GFK index for the German consumer climate and cash supply in the Eurozone. This is in addition to the reaction from the EU parliamentary elections results, which showed markedly stronger gains for the anti-EU parties, which weakened the Euro. The sterling's losses were boosted by a strong victory for a party that backs the Brexit over any situation, even if it comes out of the union without an agreement. Theresa May announced at the end of last week her resignation from the position as British Prime Minister, with her failure to pass the Brexit deal and postponing the exit date until the end of October.
Financial markets are more concerned about the developments of the US-China trade war that threaten the future of the global economy as a whole. Tensions have contributed to the imposition of more tariffs between the two sides and it came to the imposition of direct sanctions on the largest companies, as happened with China's giant Huawei.
To monitor the results of these important data follow our distinguished economic calendar from this link: economic calendar
In the following lines we will review together the most important trading opportunities for selling or buying the most important currencies pairs and gold, which may occur during trading today based on the expected events and economic data:
Major buying levels:
EUR/AUD: Buy from 1.6080, target 1.6300 and stop at 1.6020.
USD/CAD: Buy from 1.3380, target 1.3600 and stop at 1.3300.
USD/JPY: Buy from 108.90, target 112.00, and stop at 108.10.
EUR/USD: Buy from 1.1120, target 1.1300, and stop at 1.1060.
GBP/USD: Buy from 1.2570, target 1.3000 and stop at 1.20500.
Gold: Buy from 1274, target 1315 and stop at 1268.
Major Selling Levels:
USD/CAD: sell from 1.3550, target 1.3300 and stop at 1.3600.
Gold: Sell from 1300, target 1275 and stop at 1310.
EUR/AUD: sell from 1.6245, target 1.5880, and stop at 1.3600.