Market Brief Series / EP. 322 / 14th May. 2018
Overall there is minor strength in the EUR. Weakness in the CAD, with minor weakness in the USD, JPY and NZD.
Dollar turned into consolidation phase as yield to gyrate lower. Move seen as overdone and investors have adjusted their positions by returning some funds back to emerging economies last week
USD/JPY probably stay in 108.50-110.50 this week.
GBP resilient as BoE was stayed hawkish, but fate depends on data.
AUD ended as the third strongest one last week, partly thanks to the cross buying in AUD/NZD, and partly on rebound in China iron ore price.
EUR/USD preference to long at above 1.1925 with target at 1.1970. Alternatively, below 1.1925 look for further downside with 1.1890 as target. RSI is above the its neutrality area at 50.
On the data slate there’s US FOMC Member Mester Speech; US Fed’s Bullard Speech; US 3- and 6-Month Bill Auctions and US Loan Officer Survey.
BUY EUR/USD @ 1.1905 OR BETTER – STOP @ 1.1880 – TARGET @ 1.2005
BUY GBP/USD @ 1.3520 OR BETTER – STOP @ 1.3465 – TARGET @ 1.3650
SELL USD/JPY @ 109.20 OR BETTER – STOP @ 109.85 – TARGET @ 108.50
BUY CL0618 @ 70.20 OR BETTER – STOP @ 69.70 – TARGET @ 72.00
BUY AUD/USD @ 0.7510 OR BETTER – STOP @ 0.7460 – TARGET @ 0.7565
BUY XAU @ 1316 OR BETTER – STOP @ 1310 – TARGET @ 1330
BUY XAG @ 16.40 OR BETTER – STOP @ 15.80 – TARGET @ 17.20
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good infornation..
When will the market price will rise
excellent information, thanks for sharing
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