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by amdudus
The forecast for the European session on June 19
EUR
Draghi's statements dropped the euro yesterday, moving it to a new channel. Today, all attention is paid to the Fed and to the signal about when and how many times the rate will be lowered this year.
Breakthrough 1.1186 - I sell with the target of 1.1161 and 1.1138. Until the Fed decision. If the false breakout is at 1.1186, then I buy from this level, and add on fixing above 1.1211 with the target at 1.1242 and 1.1286, but this maximum is already after the Fed decision. They can even reach 1.1338, where I sell for a rebound.
GBP
Today, inflation will set the tone. If inflation is weak, strong or above the target level, this is good for the pound, as they can raise rates. A break above 1.2565 - purchases with a view to 1.2603 and 1.2649 - where I sell for a rebound. If there is a false breakdown at 1.2565 and weak data, then sales go to 1.2539 and 1.2513, where I watch the first purchases.
CAD
Inflation data will set the direction. Yesterday there was a sluggish growth attempt, although the formation was very good. False breakdown at 1.3366 - buying, or buying on the rebound from 1.3331 after strong inflation.
If the data is bad, then they can quickly return to 1.3399, and then end up to 1.3431 and 1.3469.