Market Brief / 04 - 01 - 2018

lordoftruth (71)in #forex • 7 years ago

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US dollar rises after the Institute of Supply management manufacturing report comes in at 59.7 for December, higher than expectations in a WSJ poll for a reading of 58, as well as up on the previous month.

EUR/USD decline yesterday and the preference is for short positions below 1.2050 with target at 1.1910. Alternatively, above 1.2050 look for further upside with 1.2115 as target.

On the data slate there’s UK Nationwide Housing Prices; German Services PMI; German PMI Composite; UK Net Lending to Individuals; UK Consumer Credit; UK Mortgage Approvals; UK Services PMI; UK M4 Money Supply; US Challenger Job Cuts; US ADP Employment Change; US Continuing Claims; US Initial Jobless Claims; US Services PMI; US PMI Composite; US Crude Oil Stocks Change and US Fed’s Bullard Speech.

My Personal Trading Plan
SELL EUR/USD @ 1.2035 OR BETTER – STOP @ 1.2080 – TARGET @ 1.1910
SELL GBP/USD @ 1.3530 OR BETTER – STOP @ 1.3600 – TARGET @ 1.3465
BUY USD/JPY @ 112.50 OR BETTER – STOP @ 112.00 – TARGET @ 113.20
SELL CL0218 @ 62.00 OR BETTER – STOP @ 62.50 – TARGET @ 59.90
SELL AUD/USD @ 0.7820 OR BETTER – STOP @ 0.7860 – TARGET @ 0.7765
SELL XAU @ 1308 OR BETTER – STOP @ 1315 – TARGET @ 1292
SELL XAG @ 16.95 OR BETTER – STOP @ 17.30 – TARGET @ 16.35

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.