Trading plan 02 - 10/06/2017
The general picture: The EUR/USD rate opened with a gap down on the Spain-Catalonia crisis. Week of important news.
On Monday, the pair EUR/USD fell in the morning after the Catalan citizens held a referendum on independence from Spain during the weekend. The Spanish central government strongly resisted the referendum, declaring it illegal. There were mass clashes with the police and hundreds of victims.
According to the authorities of Catalonia, 2 million Catalans participated in the referendum or approximately 40% of those eligible to vote from the 5 million adult population. 90% voted to withdraw from Spain.
Madrid is tough against.
Spain is an important economy in the EU and the euro area, it's no wonder that the euro is falling.
This week is a week of important news. On Monday is the ISM industrial index for the USA and on Wednesday is the ISM services sector.
On Wednesday, a report on employment in the US for September from ADP and on Friday, a report on nonfarm.
We expect high volatility.
We sold EUR/USD from 1.1770 (stop 1.1815)
Possible sales for a breakthrough down 1.1715
Alternative: Buy for a breakthrough 1.1835 up.
