Overall there is strength in the GBP and CHF with minor strength in the EUR and JPY. Weakness in the CAD, AUD, NZD and USD.
USD/JPY remains in week 2 as a struggle against itself and 107.85 will provide significant resistance and not ready to crack. Below 106.61 targets 106.22, 106.15 and 106.01. Good long point at lower 106.00.
EUR/USD is consolidating above the key support at 1.2090, which should maintain the buying interest. RSI lacks downward momentum. Preference to hold long positions above 1.2245 with target at 1.2330. Alternatively below 1.2245 look for further downside with 1.2190 as target.
On the data slate there’s Switzerland Unemployment Rate; German Current Account; German Trade Balance; German Imports & Exports; UK House Prices; Euro-Zone Investor Confidence and US 3- and 6-Month Bill Auctions.
My Personal Trading Plan
BUY EUR/USD @ 1.2250 OR BETTER – STOP @ 1.2210 – TARGET @ 1.2330
BUY GBP/USD @ 1.4040 OR BETTER – STOP @ 1.3980 – TARGET @ 1.4110
SELL USD/JPY @ 107.30 OR BETTER – STOP @ 107.70 – TARGET @ 106.10
BUY CL0518 @ 62.00 OR BETTER – STOP @ 61.50 – TARGET @ 63.00
BUY AUD/USD @ 0.7690 OR BETTER – STOP @ 0.7640 – TARGET @ 0.7750
BUY XAU @ 1330 OR BETTER – STOP @ 1324 – TARGET @ 1350
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 !
