USD/JPY longer term trades above neutrality and flat on the floor in the daily view while EUR/USD’s current price longer term is far to high but a base is forming.
Both euro and sterling rallied against the dollar on Friday. Some traders may be surprised by the tight consolidation in EUR/USD despite all of the big stories and important economic reports.
EUR/USD continues its bullish trend. The resistance comes in at 1.2400 level should this level break on the upside, the next resistance is at 1.2500. Alternatively, the support lies at 1.2300 level. Below this level we will be looking at further downside to 1.2220.
On the data slate there’s German Import Price Index; UK Mortgage Approvals; US Chicago Fed National Activity Index; US Dallas Fed Manufacturing Business Index; US 3- and 6-Month Bill Auctions; 2-Year Note Auction; US Fed’s William Dudley Speech and US FOMC Member Mester Speech.
My Personal Trading Plan
BUY EUR/USD @ 1.2350 OR BETTER – STOP @ 1.2305 – TARGET @ 1.2510
BUY GBP/USD @ 1.4130 OR BETTER – STOP @ 1.4080 – TARGET @ 1.4275
SELL USD/JPY @ 104.90 OR BETTER – STOP @ 105.40 – TARGET @ 104.10
BUY CL0518 @ 65.80 OR BETTER – STOP @ 65.10 – TARGET @ 66.80
BUY AUD/USD @ 0.7680 OR BETTER – STOP @ 0.7610 – TARGET @ 0.7790
BUY XAU @ 1345 OR BETTER – STOP @ 1340 – TARGET @ 1362
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.
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 !
