Market Brief Series / EP. 381 / 14th Aug 2018

lordoftruth (71)in #forex • 6 years ago

Overall there is strength in the EUR and CAD. Weakness in the JPY and AUD.
US indices extended losses, as worries about the contagion from Turkey’s economic crisis lingered.
USD was little changed on Monday, as the ICE Dollar Index closed at 96.36, compared with 96.39 on Friday.
Oil prices rose on Tuesday after a report from OPEC confirmed that top exporter Saudi Arabia had cut production to avert looming oversupply.
USD/JPY has been stabilising as the greenback remains firm and the contagion risks have been limited, JPY was, in the most part, changing hands in tandem with the reports that Turkey would release the detained American pastor.
Australian Dollar looks set to resume the downtrend against its US counterpart after breaking through the floor of a two-month congestion range.
EUR/USD edged down 0.1% to 1.1401. Later today, the European Commission will report June euro-zone industrial production and the second estimate of second-quarter GDP growth. Key resistance is at 1.1430. The pair remains on the downside after retreating from a high of 1.1432 overnight. Unless the key resistance at 1.1430 is surpassed, the pair should pull back to 1.1365 sinking further to 1.1330 on the downside. Alternatively, above 1.1430, expect a further advance toward 1.1480 on the upside.
On the data slate there’s German GDP; German CPI; UK Claimant Count Rate; UK Jobless Claims Change; UK Average Weekly earnings; UK Unemployment Rate; Euro-Zone GDP; German ZEW Survey; Euro-Zone ZEW Survey; US Small Business Optimism and US Import and Export Price Index.

My Personal Trading Plan

SELL EUR/USD @ 1.1410 OR BETTER – STOP @ 1.1450 – TARGET @ 1.1310
SELL GBP/USD @ 1.2785 OR BETTER – STOP @ 1.2830 - TARGET @ 1.2690
BUY USD/JPY @ 110.00 OR BETTER – STOP @ 109.65 – TARGET @ 111.00
BUY CL0918 @ 67.50 OR BETTER – STOP @ 66.90 – TARGET @ 69.20
SELL AUD/USD @ 0.7295 OR BETTER – STOP @ 0.7340 – TARGET @ 0.7225
BUY XAU @ 1194 OR BETTER – STOP @ 1188 – TARGET @ 1210
BUY XAG @ 15.00 OR BETTER – STOP @ 14.70 – TARGET @ 16.05

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.

Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of considerable returns down the road.
I'm so proud of my little blog, and so grateful to all of you
for support to keep it going.

If You are New in Trading --> Read Trading Education Center / Volume I.

What You Know About --> Fibonacci Retracement in Trending Market.

If You Like To Read About Syrian War --> Click Here!