Market Brief Series / EP. 289 / 23 - 03 - 2018

US stocks fell Thursday, pulled down by shares of banks and manufacturers, as investors worried whether a new round of tariffs would further fan the threat of trade war. Investors said anxiety over the ramifications of the Trump administration’s plan to levy tariffs on imports from China contributed to the pullback. The moves come as the market was already trying to work through new tariffs on steel and aluminium imports, along with worries about rising interest rates.

USD/JPY testing major support after the announcement of tariffs coming out of the United States aimed at China, this of course has a lot of traders out there concerned about a potential trade war.

EUR/USD preference is still to maintain long positions at 1.2310 or better with target at 1.2425. Alternatively, below 1.2300 look for further downside to 1.2255 as target.

On the data slate there’s Euro-Zone EU Leaders Meet in Brussels; US Tariff Grace Period Ends; US Durable Goods Orders; US New Home Sales; US Fed’s Kashkari Speaks in Moderated Q&A; US Baker Hughes US Rig Count and US Fed’s Rosengren Speaks at International Research Forum.

My Personal Trading Plan

BUY EUR/USD @ 1.2310 OR BETTER – STOP @ 1.2285 – TARGET @ 1.2425
BUY GBP/USD @ 1.4100 OR BETTER – STOP @ 1.4060 – TARGET @ 1.4275
SELL USD/JPY @ 105.10 OR BETTER – STOP @ 105.60 – TARGET @ 104.10
BUY CL0518 @ 64.10 OR BETTER – STOP @ 63.70 – TARGET @ 65.60
BUY AUD/USD @ 0.7680 OR BETTER – STOP @ 0.7610 – TARGET @ 0.7790
BUY XAU @ 1330 OR BETTER – STOP @ 1324 – TARGET @ 1350
BUY XAG @ 16.20 OR BETTER – STOP @ 15.80 – TARGET @ 17.00

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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hopes of considerable returns down the road.
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