Market Brief / 02 - 01 - 2018

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US dollar remained under pressure last Friday, with the ICE Dollar Index losing another 0.5% to 92.12.

EUR/USD is holding above its support at 1.1985, which should maintain the buying interest. The rising 50-period moving average is playing a support role.

RSI is bullish and calls for further upside. Therefore, above 1.1985, look for a further upside with target at 1.2075. Alternatively, below 1.1985, expect a return with 1.1910 as target.

On the data slate there’s German Manufacturing PMI; Euro-Zone Manufacturing PMI; UK Manufacturing PMI; US Manufacturing PMI; US 4-Week Bill Auction; US 3- and 6- Month Bill Auctions and US 52-Week Bill Auction.

My Personal Trading Plan
SELL EUR/USD @ 1.2035 OR BETTER – STOP @ 1.2080 – TARGET @ 1.1910
SELL GBP/USD @ 1.3525 OR BETTER – STOP @ 1.3565 – TARGET @ 1.3410
BUY USD/JPY @ 112.60 OR BETTER – STOP @ 112.10 – TARGET @ 113.20
SELL CL0218 @ 60.70 OR BETTER – STOP @ 61.00 – TARGET @ 59.60
SELL AUD/USD @ 0.7840 OR BETTER – STOP @ 0.7880 – TARGET @ 0.7765
SELL XAU @ 1308 OR BETTER – STOP @ 1315 – TARGET @ 1292
SELL XAG @ 16.80 OR BETTER – STOP @ 17.20 – TARGET @ 16.00

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD NOT TAKE ANY MATERIAL POSTED AS RECOMMENDATION.

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