Overall there is strength in the USD and CAD. Weakness in the NZD, EUR, CHF and GBP.
USD is getting stronger and stronger while Donald Trump is president. US dollar posted a rebound against other major currencies, as risk appetite was partially revived by a modest easing in concerns over trade.
Oil prices rose on Wednesday, pushed up by supply disruptions in Libya and Canada and after U.S. officials said all countries should stop Iranian crude imports from November.
Some selling has taken USD/JPY under 110. It'll be interesting to see if the selling persists in coming hours.
AUD/USD slipped a little Wednesday following news that, although China’s industrial profits held up very well in May, they had decelerated a little from the previous month.
EUR/USD remains on the downside while being capped by the descending 20-period moving average, which stands below the 50-period one. RSI is yet to recover the neutrality level of 50, showing a lack of upward momentum for the pair. As intraday bearishness is maintained, the pair should break below the 1.1630 on the downside before sinking further toward the key 1.1580 level.
On Data slate there’s UK BOE’s Carney Speaks About Financial Stability Report; US Mortgage Applications; US Wholesale Inventories; US Advance Goods Trade Balance; US Durable Goods Orders; US Pending Home Sales and US Crude Oil Inventories.
My Personal Trading Plan
SELL EUR/USD @ 1.1665 OR BETTER – STOP @ 1.1720 – TARGET @ 1.1580
SELL GBP/USD @ 1.3230 OR BETTER – STOP @ 1.3280 – TARGET @ 1.3140
BUY USD/JPY @ 109.50 OR BETTER – STOP @ 109.00 – TARGET @ 110.50
BUY CL0818 @ 70.30.00 OR BETTER – STOP @ 69.70 – TARGET @ 72.00
SELL AUD/USD @ 0.7380 OR BETTER – STOP @ 0.7410 – TARGET @ 0.7310
SELL XAU @ 1257 OR BETTER – STOP @ 1262 – TARGET @ 1235
SELL XAG @ 16.20 OR BETTER – STOP @ 16.60 – TARGET @ 15.65
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.
