Trade ideas on June 7-11!

Trade ideas on June 7-11!

Dont expect to relax after a super volatile previous week! The market is getting ready for yet another roller-coaster!

Trade ideas

EUR/USD

The pair awaits the ECB Interest Rate Decision and the US Inflation Rate on Thursday. We expect a lot of volatility if the ECB follows the recent rhetoric of the FOMC members on stimulus reduction. As for the US Inflation, it may strengthen the US dollar significantly if it exceeds the forecasts.

EUR/USD chart

USD/CAD

The Canadian dollar is enjoying high oil prices and the Bank of Canadas small steps towards tapering. Since the middle of May USD/CAD has been consolidating right above the psychological support of 1.2000. If the BOC provides signals on more stimulus reduction this Wednesday, the breakout of this level will be highly possible.

USD/CAD chart

Gold

After breaking above 1900, bulls could not hold the asset at the highs last week. Again, the focus will be on the US Inflation Rate. If the USD gets positive momentum once again, the precious metal will drop.

XAU/USD chart

Oil

The OPEC+ meeting provided an optimistic outlook on demand last week and pushed the oil prices higher. The price of Brent broke above $71.50 and the price of WTI stuck above the recent peak of $67.80. While the talks between the world powers and Iran on the nuclear deal are set to continue this week, we may expect more price swings in the oil market.

Tesla

Teslas stock dropped last Friday on the news about disappointing sales figures in China. Additionally, that, Teslas CEO Elon Musk keeps expressing his anger towards Bitcoin on Twitter. His comments may have an impact on the stock of the automaker as well. Dont miss the chance!

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