Trade Ideas June 28 – July 2

Trade Ideas June 28 – July 2

The main events of the week are Non-Farm Payrolls (NFP) and the OPEC meeting. NFP is one of the most impactful indicators, that’s why it usually grabs a lot of attention of traders. This time, the focus will be even bigger as the Fed will base its further policy decision on employment. OPEC+ meeting will decide whether to hike oil output further or not.

EUR/USD

After Fed’s hawkish decision in June, banks have started making bullish forecasts on the US dollar. Further hints at Fed’s tapering (cutting bond buys) in coming months will lift the US dollar. The better-than-expected NFP may push EUR/USD to early-April lows at 1.8000. The worse-than-expected NFP may drive the pair to 1.2000.

USD/CAD

USD/CAD jumped on the Fed hawkishness. However, the Bank of Canada has already tightened the policy, that’s why the CAD is better protected from unexpected Fed policy actions than other currencies. Besides, the Canadian dollar should gain on rising oil prices. The majority of the correction in USD/CAD is over, that’s why USD/CAD may drop to the 50-day moving average of 1.2200.

XBR/USD

XBR/USD (Brent crude oil) has hit the record high of $75 a barrel. The increasing demand for crude oil is likely to support the oil rally further to the psychological mark of $80 a barrel. On Thursday, OPEC+ members have to announce their decision on supply increases and give an outlook for the oil market.

IBM

IBM is a multinational technology company. Its hybrid cloud software gives the company a boost. The Q1 earnings report revealed that its cloud revenue grew 21% year over year. Since the company is trading at the local lows, it has a high potential to grow.

TRADE NOW

Similar

USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Latest news

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

Deposit with your local payment systems

Feel the Team Spirit

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.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

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

Internal error. Please try again later

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

Beginner Forex book

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

Beginner Forex book

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.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera