According to the data released by CFTC, forex market investors are eliminating the long position of USD, while EUR continues to show bearish momentum. Data show that USD long position has fallen to 251.1 hundred million dollars from the previous 260.7. EUR trading position has rose to 100,035 euro from 99,306, reflecting the uncertainty of Greek debt default.
During the session today, Halifax House Price of June(MoM) will see light at 15:00 in Britain, with Industrial Production (MoM) of May released at 16:00. We are also anticipating Trade Balance(May) to be released in Canada and America.With certain underlying assets performing actively when data see light, FX77 binary option analyst suggest grasping the opportunity to do short-term trading.
EUR/USD
As the EUR/USD pair continues to show bearish sentiment, we are buyers of put option. Resistance is found at 1.1080/1.1130 and support at 1.0950/1.0900.
USD/JPY
We like buying call option on dips, since the USD/JPY pair has acted strongly with bullish momentum. Resistance is found at 123.30/123.80 and support at 122.50/122.00.
GBP/USD
As the GBP/USD pair is in a bearish trend, we are considering buying put option. Resistance is found at 1.5630/1.5680 and support at 1.5530/1.5450.
[Tips]
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