Singapore’s economy grew at a faster pace and more than expected in the first quarter, mainly due to an increase in production.
Singapore’s GDP in the first quarter grew at an annual rate of 0.2% compared with the previous three months.

EUR/USD

On a daily chart we can see that the main trend of the pair is an uptrend.
There is a diagonal support line which supported the pair a few times on his way up, and right now it supporting it once again.

On 4 hours chart we can see a bullish divergence at the MACD which went into effect after receiving a bullish pattern.

For Forex traders:
Buy between the levels of : 1.1130 – 1.1150.
Stop loss point : 1.1100.
Take profit point : 1.1300.

For Binary options traders:
A call option between the levels of : 1.1130 – 1.1150.
Expiry time : The end of May 25.

The US trading day is expected to open today with a slight increases, continuing of the positive trend from Europe at this time.

In the mean time, the price of the oil is dropping for the fifth day in a row and traded around the price level of 48 dollars a barrel.

The rating agency Moody’s lowered the credit rating of Deutsche Bank by one level.
Moody’s warned that the bank’s performance was weak in recent times, after her profits fell in the last quarter.

CAD/CHF

On a daily chart we can see that the main trend of the pair is an uptrend.
There is a diagonal support line which supported the pair a few times on his way up, and right now it supporting it once again.

The support area is between the levels of 0.7500 – 0.7540.
We can try and schedule an entry with the uptrend on lower time frames.

For Forex traders:
Buy between the levels of : 0.7500 – 0.7540.
Stop loss point : 0.7495.
Take profit point : 0.7650.

For Binary options traders:
A call option between the levels of : 0.7500 – 0.7540.
Expiry time : The end of May.

The German statistics office: “There are positive signs for the local economy”

German GDP in the first quarter grew by 0.7%, mainly due to the increase in domestic consumption.
The GDP grew an annualized 2.7%, this growth in the first quarter is more than double that of the fourth quarter of 2015 which was only of 0.3%.

Expectations to moderate declines at the start of trading on Wall Street

The future contracts on Wall Street pointing to declines of 0.1% in the leading indices, after on Friday the stock markets were closed with rising prices.

Activity in manufacturing and services sector in the Euro zone slowed in May

According to data released today, the manufacturing and services sector in the Euro zone fell in May to 52.9 points compared to April with 53 points.
Analysts had expected a rise to the level of 53.2 points.
Any reading of more than 50 points indicates expansion in economic activity.

USD/CHF

The main trend of the pair is an uptrend, after it crossed above a descending line, of the previous downtrend, as we can see on a daily chart:

What next?
We are waiting that the pair to make a technical correction down, to re-test the area that was broken on the way up.
This area should be around the levels of 0.9800 – 0.9750.
From there we will be looking for a bullish pattern with a bullish divergence, this will be the signal for us to enter with another wave on the way up.

 

For Forex traders:
Buy between the levels of : 0.9800 – 0.9750
Stop loss point : 1.0000
Take profit point : 0.9700

For Binary options traders:
A call option between the levels of : 0.9800 – 0.9750.
Expiry time : The end of May.

Greece approved new austerity measures

The Greek parliament agreed on a series of new austerity measures, designed to ensure the receiving continuation of billions of Euros as part of its international aid package for the country.

These measures include a raise of 1% of the vat, raising taxes on coffee, alcohol, gasoline and other products, as well as new rules relating to bank loans.