Honoring Me With Your Up Vote..
US dollar fell to its lowest level in more than three years, as strong economic data from overseas drew investors into the euro. A key measure of euro-zone manufacturing activity, the HIS Markit Euro-Zone Manufacturing PMI, showed a strong start to the year for the region. The solid results signalled that the euro-zone’s recovery, which helped push the euro up 3.4% against the dollar in January.
EUR/USD was up yesterday by 0.8% at 1.2507. Preference is for long positions above 1.2470 with target at 1.2580. Alternatively, below 1.2470 look for a pull back with 1.2430 as target.
On the data slate there’s UK Construction PMI; US Change in Non-Farm Payrolls; US Change in Private Payrolls; US Unemployment Rate; US Average Hourly Earnings; US Factory Orders; US U. of Michigan Sentiment; US Durable Goods; US U. of Michigan 5-10 Yr. Inflation and US Baker Hughes US Rig Count.
BUY EUR/USD @ 1.2490 OR BETTER – STOP @ 1.2430 – TARGET @ 1.2580
BUY GBP/USD @ 1.4240 OR BETTER – STOP @ 1.4200 – TARGET @ 1.4350
BUY USD/JPY @ 109.10 OR BETTER – STOP @ 108.80– TARGET @ 109.80
BUY CL0318 @ 65.70 OR BETTER – STOP @ 65.10 – TARGET @ 66.60
SELL AUD/USD @ 0.8040 OR BETTER – STOP @ 0.8090 – TARGET @ 0.7960
BUY XAU @ 1345 OR BETTER – STOP @ 1338 – TARGET @ 1355
BUY XAG @ 17.00 OR BETTER – STOP @ 16.60 – TARGET @ 17.65
