What to trade today, during the European session 06.04.2016

Although the positive start of the American futures on the stock indexes today, at these levels it is still risky to buy indexes or shares. Up until now this height is just a slight correction, a gap which is very likely to be filled – possible short.

The volatility of oil price will remain high with the upcoming meeting of OPEC at the end of April. Though the short growth the direction is still bid

AUD is quite likely to erase some of its lost positions yesterday, which will give us better entries for a new sell of AUD/JPY and AUD/USD.

JPY is also increasing its slight growth on the indexes. It is very possible that the price will go up if the growth of the indexes is short-term. We are looking for price action signals for buying JPY.

EUR/USD reached a serious resistance at- 1.14-1.1467, where the demand will probably go up. There is a price action signal for a decrease of the currency pair.

The short remains for the bank shares in Europe, who continue to keep their negative formation.

At a short-term, we leave the indexes from yesterday at a short. It is still early to talk about medium-term deals.

 Varchev Traders

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