EUR/USD: A perfect morning star chart pattern has been completed..hammer candle at its centre..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle

 

EUR/USD SHORT TERM TRADER: Small long at 1.1685; stop below 1.1700. Target 1.2000.

EUR/USD POSITION TAKER: Long at 1.1660; stop below 1.1600. Target 1.2400.

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A busy week ahead
For markets and politicians

After the fiasco that was the G7 summit in Canada last week, this week has the potential for lots of surprises. Today we’ll pour over the fabulous photos from the summit. Tomorrow we’ll have an historic meeting between the North Korean leader and the US President, something that has not happened since the Korean War. Meanwhile UK PM Theresa May will slug it out in the House of Commons over Brexit legislation. Wednesday the FOMC meets and is expected to raise the Fed Funds target by 25 basis points to 2 per cent. Thursday the ECB meets and they just might say something about ending QE, while on Friday the Bank of Japan meets and can’t do anything as inflation targets are a woefully distant mirage.

Tech Week kicks off in London today and Mayor Sadiq Khan will reveal details of how he plans to make the city the world’s smartest in terms of technology. His chief digital officer said that connectivity is a ‘vital utility’ for workers and residents of the capital. Meanwhile City AM reports that of all the so-called unicorn tech companies (worth over $1 billion) in Europe, 13 of the 34 are in the UK, and are worth $23 billion. They also suggest that there are another potential 51 British unicorns lined up.

Financial Markets & Political Commentary

 

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