Overall there is strength in the GBP, EUR and CAD. Weakness in the NZD, JPY and CHF.
US dollar edged lower Tuesday, as investors locked in gains on a recent rally in the US currency. The dollar’s recent gains have been aided by investor perceptions that world-wide economic growth is starting to soften, and that central banks from Canada to China are seeking opportunities to increase monetary support for their economies.
Investors will be keeping a close eye on the ECB’s monetary policy meeting later this week to gauge whether officials are growing more confident regarding the pace of European growth.
After falling for 5 consecutive trading days, GBP finally rebounded against the U.S. dollar on the back of stronger fiscal finances.
Tuesday's worst-performing currency was the New Zealand dollar, which continued to come under heavy selling.
EUR/USD preference is to maintain long positions above 1.2210 with target at 1.2320. Alternatively, below 1.2210 look for further downside with 1.2150 as target.
On the data slate there’s US Mortgage Applications and US Crude Oil Inventories.
My Personal Trading Plan
BUY EUR/USD @ 1.2200 OR BETTER – STOP @ 1.2150 – TARGET @ 1.2320
BUY GBP/USD @ 1.3950 OR BETTER – STOP @ 1.3880 – TARGET @ 1.4050
SELL USD/JPY @ 108.75 OR BETTER – STOP @ 109.20 – TARGET @ 107.80
BUY CL0618 @ 67.30 OR BETTER – STOP @ 66.80 – TARGET @ 70.00
BUY AUD/USD @ 0.7570 OR BETTER – STOP @ 0.7520 – TARGET @ 0.7680
BUY XAU @ 1325 OR BETTER – STOP @ 1320 – TARGET @ 1342
BUY XAG @ 16.50 OR BETTER – STOP @ 16.10 – TARGET @ 17.25
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 !
