Market Brief / 19 - 02 - 2018
Honoring Me With Your Up Vote..
US dollar rebounded against other major currencies, as investors took short-positions profits from the currency’s recent decline.
Major US stock indices edged higher as they pared gains after a US federal grand jury indicted a Russian internet organization and 13 Russian nationals on charges of seeking to interfere in the US electoral process.
EUR/USD ended a four-day rally. The pair is off the immediate support at 1.2400 but remains capped by the descending 20-period moving average, which stands below the 50-period one.
The intraday outlook is still bearish. A break below the key level of 1.2400 would open a path toward 1.2360 on the downside. Only a break above the key resistance at 1.2480 would bring a further advance toward 1.2500.
On the data slate there’s Euro-Zone Current Account; UK 30-Year Bond Auction; German Buba Monthly Report; UJ 10-Year Bond Auction and Euro-Zone Construction Output.
BUY EUR/USD @ 1.2410 OR BETTER – STOP @ 1.2275 – TARGET @ 1.2510
BUY GBP/USD @ 1.4035 OR BETTER – STOP @ 1.4000 – TARGET @ 1.4185
SELL USD/JPY @ 106.50 OR BETTER – STOP @ 107.10 – TARGET @ 105.65
BUY CL0418 @ 62.00 OR BETTER – STOP @ 61.65 – TARGET @ 63.20
BUY AUD/USD @ 0.7905 OR BETTER – STOP @ 0.7865 – TARGET @ 0.8005
BUY XAU @ 1350 OR BETTER – STOP @ 1342 – TARGET @ 1365
BUY XAG @ 16.80 OR BETTER – STOP @ 16.20 – TARGET @ 17.25
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sure..
I am daily forex and btc trader..
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Good to see that Us dollar is regaining its value.
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Investors continue to lose confidence in the US dollar despite rising rates, it typical buy the rumor, sell the news. Also, we are in the last stages of the economic cycle, meaning the economy will evidently slow down, again, not good for the US dollar. I believe the dollar will continue to go down. Target 1 is $85 and Target 2 is $80.
Since the EUR/USD is inverse to the dollar and since quantitative easing may end sooner than later in Europe, this is bullish for the Euro. There are buyers at the 1.22000 level and also price has established a monthly trend line. My target is 1.28000.