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    Forex trading plan for June 3

    EUR/USD rose towards 1.1200 on hopes about the Greek deal and a small improvement in the euro area’s inflation data. The press conference of the ECB President Mario Draghi will start at 12:30 GMT on Wednesday. Everyone will be interested in whether the central bank will be really buying more bonds in June. Draghi will likely assess the QE program as successful and underline that the ECB is fully committed to it. Support is at 1.0925 and 1.0850. Resistance is at 1.12 and 1.13 ahead of 1.1570.

    GBP/USD found some support at the 100-day MA at 1.5165 and rose above 1.5300 on better-than-expected UK construction PMI. Britain will release services PMI at 08:30 GMT. Resistance is at 1.5340 and 1.5500.

    USD/JPY tested more than 12-year high at 125.05 before sliding to 124.00. Support lies at 123.30 and 122.80. Resistance is at 125.10 and 125.50.

    AUD/USD recovered to 0.7700. The Reserve Bank of Australia kept monetary policy unchanged and didn’t provide much of an easing rhetoric: the RBA is waiting for the Fed to make the first move. Australia will release Q1 GDP on Wednesday (01:30 GMT), a slight acceleration in economic growth is expected. Resistance is at 0.7740 and 0.7800.

    In America watch the release of the ADP non-farm employment change at 12:15 GMT (forecast: 200K). USD will be data dependant. The sentiment about the US dollar is rather positive, so traders will be buying it on the dips.

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