Market Brief Series / EP. 340 / 7th June 2018 – Thurs.

lordoftruth (71)in #forex • 6 years ago

Overall there is strength in the AUD and EUR. Weakness in the JPY, CHF, with minor weakness in USD.
Oil prices rose on Thursday, supported by plunging exports by OPEC-member Venezuela.
US dollar fell Wednesday, weighed down by the gains in the EUR/USD after an ECB official signalled that the bank could decide as soon as next week to wind down its EUR 30 billion-a-month bond-buying program, which some analysts credit with supporting the 19-nation currency union’s economic recovery.
USD/JPY is currently mixed in the Tokyo open where the Nikkei has failed to extend the risk-on sentiment after a very positive day on Wall Street that enabled traders to take on the 200-D SMA in USD/JPY.
AUD/USD is hesitating in Asia trading, falling back into 0.7650 after Australian Trade Balance figures contracted more than expected.
EU’s statistics agency last week said consumer prices in the 19 countries that use the euro rose a greater than expected 1.9% from May 2017 and jumped from 1.2% rate of inflation recorded in April. Preference is still maintaining long positions above 1.1735 with target at 1.1850. Alternatively, below 1.1735 look for further downside with 1.1680 as target.
On the data slate there’s Switzerland Unemployment Rate; German Factory Orders; UK House Prices; Euro-Zone Government Expenditure; Euro-Zone GDP; US Initial Jobless Claims; US Continuing Claims and US Consumer Credit.

My Personal Trading Plan

BUY EUR/USD @ 1.1765 OR BETTER – STOP @ 1.1720 – TARGET @ 1.1850
BUY GBP/USD @ 1.3400 OR BETTER – STOP @ 1.3350 – TARGET @ 1.3510
SELL USD/JPY @ 109.90 OR BETTER – STOP @ 110.40 – TARGET @ 109.00
BUY CL0718 @ 65.00 OR BETTER – STOP @ 64.50 – TARGET @ 66.90
BUY AUD/USD @ 0.7620 OR BETTER – STOP @ 0.7580 – TARGET @ 0.7700
BUY XAU @ 1292 OR BETTER – STOP @ 1282 – TARGET @ 1310
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.

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