Overall there is minor strength in the EUR. Weakness in the CAD, with minor weakness in the USD, JPY and NZD.
Dollar turned into consolidation phase as yield to gyrate lower. Move seen as overdone and investors have adjusted their positions by returning some funds back to emerging economies last week
USD/JPY probably stay in 108.50-110.50 this week.
GBP resilient as BoE was stayed hawkish, but fate depends on data.
AUD ended as the third strongest one last week, partly thanks to the cross buying in AUD/NZD, and partly on rebound in China iron ore price.
EUR/USD preference to long at above 1.1925 with target at 1.1970. Alternatively, below 1.1925 look for further downside with 1.1890 as target. RSI is above the its neutrality area at 50.
On the data slate there’s US FOMC Member Mester Speech; US Fed’s Bullard Speech; US 3- and 6-Month Bill Auctions and US Loan Officer Survey.
My Personal Trading Plan
BUY EUR/USD @ 1.1905 OR BETTER – STOP @ 1.1880 – TARGET @ 1.2005
BUY GBP/USD @ 1.3520 OR BETTER – STOP @ 1.3465 – TARGET @ 1.3650
SELL USD/JPY @ 109.20 OR BETTER – STOP @ 109.85 – TARGET @ 108.50
BUY CL0618 @ 70.20 OR BETTER – STOP @ 69.70 – TARGET @ 72.00
BUY AUD/USD @ 0.7510 OR BETTER – STOP @ 0.7460 – TARGET @ 0.7565
BUY XAU @ 1316 OR BETTER – STOP @ 1310 – TARGET @ 1330
BUY XAG @ 16.40 OR BETTER – STOP @ 15.80 – TARGET @ 17.20
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 !
