Jun 01
On Friday the FTSE closed up 30 points (0.7%) at 4,417 continuing to range sideways between support at 4,315 and resistance at 4,520. The Dow closed up 96 points (1.1%) at 8,500 and also continues to range sideways between support at 8,240 and resistance at 8,600. EUR/USD broke out significantly above 1.4050 to hit a high of 1.4166, before closing the week just below this new 2009 year-to-date high. Week after week since the lows in late April, price action has made higher highs and higher lows to form a steep, well-defined uptrend that has been in place for more than a month now. At 9:30am, high news for GBP manufacturing PMI and USD manufacturing PMI at 3pm. Watch out for volatility at these times.
