Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
Risk appetite is back. How to trade on June 16?

Risk appetite is back. How to trade on June 16?

Information is not investment advice

Fundamental factors

  • The main driver of the day is the additional stimulus from Trump. He claimed yesterday that the US administration would pour 1 trillion dollars in infrastructure spending. As a result, the market sentiment has switched to risk-on as now it depends a lot on the future economic recovery.
  • Another important issue is the successful Brexit meeting. The UK and the EU made a step closer to reach a deal yesterday. The UK PM Boris Johnson believes that prospects for an accord are “very good”. Perhaps trade talks can be over much earlier than the deadline that is scheduled for December. It’s a really good news for GBP.

 

Technical tips

EUR/USD

EUR/USD has been rising rapidly since yesterday. The reason behind is  that the US dollar started loosing on the improved market sentiment. The pair has been trading in a range between 1.1170 and 1.1375 for quite a long time. All traders can’t wait for the price to break out or break down those levels. Now it’s headed towards the key resistance level at 1.1375. If it crosses it, it will open doors to the next resistance at 1.145. Otherwise, if the price goes below the support at 1.1310 or 78.6% Fibonacci level, it may fall even deeper to 1.125.EURUSDDaily.png

GBP/USD

The British pound rose on encouraging Brexit negotiations. GBP/USD is approaching the 200-day moving average at 1.2680. If it manages to break it, it will surge to 1.2750 after that. Support is at 1.2500.

GBPUSDDaily.png

S&P 500

S&P 500 has rebounded after the huge fall during the last week. Now S&P 500 is moving up towards the 78.6% Fibonacci retracement level at the 3135 mark. If it breaks through it, then the price may rise to 3230. Support is at 3050.

S&P500Daily.png

Crude oil

The Brent oil price has almost reached $40 a barrel. It gained on the optimistic market sentiment. The price will meet the next resistance at $42. Support levels are $38 and $34. According to the energy minister of the United Arab Emirates, the oil demand is recovering quite quickly. Moreover, huge OPEC+ output cuts continue, and countries, which cheated before, make extra cuts to state their commitment. However, the rebound of the oil market still hugely hinges on a possible second wave of new infections.

Brent_OilDaily.png

Next market drivers

  • The US retail sales will be released at 15:30 MT time. If the numbers come better than expected, it will underpin the current risk-on market sentiment.
  • The Fed’s Chairman, Jerome Powell, will make a report to Congress at 17:00 MT time. His speech consists of 2 parts. The first one is the prepared statement. The second one is a question and answer session. Traders are interested more in the last one as Powell doesn’t know questions before and he may unveil some unscripted moments that add the fresh market volatility.

 

Check the economic calendar

 LOG IN

Similar

Popular

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later