Outlook 06/06: Light day in terms of economic data, but the euro on the move in reaction to some comments from the ECB. Central bankers gathering in Berlin have confirmed that the ECB is ready to consider ending its massive bond-buying program, a move President Mario Draghi has so far refused to publicly acknowledge.
/ESM8 Value: YVAH 2751 YPOC 2748 YVAL 2745
/ES Plan: Yesterday market closed bullish (PBT 2757) Overnight profile is bullish (GBT 2762), moving within yesterday's range, so as usual we've these options:
A) If market remains above YHOD 2753 with bullish internals, be a buyer leaning on 2753 towards ONH 2758 GBT 2762 and PBT 2764. 'Look below and fail' is a bullish signal.
B) If market starts to move below YHOD 2753 with bearish internals, become a seller leaning on 2753 towards ONL 2750 and YVAL 2745. 'Look above and fail' is a bearish signal.
Tips: Consider the habits of the product you trade, such as '10 Handle Rule' 'Value Area Rule' and 'One Tick Failure'. More on Glossary.
Today's Economic Calendar
10:30 EIA Petroleum Status Report
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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