Daily market review – February 27th 2017

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This week, the US president, Donald Trump, will give his first speech at the US Congress, and investors will be alert ahead of the president’s detail regarding economic plans.

Also this week, the chairman of the US Federal Reserve, Janet Yellen, is expected to meet with Chairman of the Mexican equivalent and the International Monetary Fund, and on Friday Yellen expected to give a speech and may provide additional information regarding the feasibility of the Open Market Committee of the Federal Reserve (FOMC) and if will raise interest rates at its next meeting to be held on 14-15 March

Last week summary on Wall Street:
The Dow Jones Industrial Average climbed by 1% on his way to a third straight weekly increases.
The S&P 500 climbed by 0.7%, the fifth consecutive week of gains.
The Nasdaq Composite Index rose by 0.1%, the fifth straight positive week as well.

This morning, the British pound falls by 0.4% against the US dollar to -1.2413 pounds to the dollar at the background of the possibility of a referendum on Scottish independence and separation from the United Kingdom

The WTI oil rising by 0.8% to $ 55.4 per barrel and Brent oil rises by 1% to $ 56.5 per barrel.

Trading Opportunity:
EUR/USD

eur-usd-4h-27-2-17

On 4 hours chart, the pair is going inside a decreasing canal.
The nearest resistance levels are between 1.0600 – 1.0585, from there we can try and look for an entry with the down trend.

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