Trump’s administration confirmed levying tariffs on steel and aluminium imports from the EU, Canada and Mexico.
US stocks retreated as the US slapped duties on steel and aluminium imports from the European Union, Canada and Mexico.
USD/JPY is trading tightly with the 50-hour EMA as consolidation draws out and technical indicators are mixed, but bullish potential appears to be building.
AUD/USD holds above 200-hour moving average after China PMI release.
Oil prices continued to dip slightly in morning trade in Asia Friday, after a reported rise in inventories in the U.S. and while investors worked to understand the implications of a divergence in the price of London-traded Brent crude and U.S.-traded WTI, the two major oil-price benchmarks.
Gold prices were pinned to the psychologically important $1,300 level as gains on the back of a weaker dollar were offset somewhat by easing safe-haven demand as Italian political turmoil subsided.
EUR/USD remained resilient as Italian President Sergio Mattarella finally approved the coalition government formed by anti-establishment parties 5 Star Movement and the League, who reshuffled their proposed cabinet, avoiding fresh elections.
RSI has just landed on its neutrality area at 50 and is turning up. To conclude, as long as 1.1645 holds on the downside, look for a further rise with target at 1.1770. Alternatively, a break below 1.1645 would trigger a return with 1.1550 as target.
On the data slate there’s Switzerland PMI Manufacturing; UK PMI Manufacturing; US Non-Farm Payrolls; US Unemployment Rate; US Average Hourly Earnings; US Construction Spending; US ISM Manufacturing; US ISM Employment; US ISM Prices Paid and US Baker Hughes US Rig Count.
My Personal Trading Plan
BUY EUR/USD @ 1.1680 OR BETTER – STOP @ 1.1630 – TARGET @ 1.1770
BUY GBP/USD @ 1.3280 OR BETTER – STOP @ 1.3230 – TARGET @ 1.3450
SELL USD/JPY @ 109.20 OR BETTER – STOP @ 109.70 – TARGET @ 108.50
BUY CL0718 @ 66.70 OR BETTER – STOP @ 66.40 – TARGET @ 68.90
BUY AUD/USD @ 0.7540 OR BETTER – STOP @ 0.7490 – TARGET @ 0.7610
BUY XAU @ 1298 OR BETTER – STOP @ 1290 – TARGET @ 1320
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.
