Market Brief / 30 - 01 - 2018

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US dollar rebounded against other major currencies, as investors took profits on dollar short positions in face of rallying US bond yields. At the same time, they are watching closely the Federal Reserve’s monetary policy meeting and the January jobs report due later this week.

EUR/USD rebounded from 1.2335 and broke above its 20-period moving average. Preference, is still for short positions above 1.2400.

RSI has just landed on its neutrality level at 50 and is turning up. As long as 1.2335 holds on the downside, look for a further upside with target at 1.2465. Alternatively, below 1.2335 expect a new drop with 1.2270 as target.

On the data slate there’s Switzerland Leading Indicator; UK Net Consumer Credit; UK Mortgage Approvals; Euro-Zone GDP; German CPI; US Home Price Index; US Consumer Confidence; US Conference Board Present Situation and UK BOE Governor Carney Speaks Before Lawmakers.

My Personal Trading Plan
SELL EUR/USD @ 1.2400 OR BETTER – STOP @ 1.2460 – TARGET @ 1.2270
SELL GBP/USD @ 1.4080 OR BETTER – STOP @ 1.4130 – TARGET @ 1.3965
BUY USD/JPY @ 108.60 OR BETTER – STOP @ 108.10– TARGET @ 109.50
SELL CL0318 @ 65.35 OR BETTER – STOP @ 66.00 – TARGET @ 64.20
SELL AUD/USD @ 0.8090 OR BETTER – STOP @ 0.8130 – TARGET @ 0.7990
SELL XAU @ 1338 OR BETTER – STOP @ 1350 – TARGET @ 1325
SELL XAG @ 17.30 OR BETTER – STOP @ 17.80 – TARGET @ 16.60

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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