Market Brief Series / EP. 283 / 13 - 03 - 2018

US dollar retreated further. The ICE Dollar Index declined 0.2% to 89.89. Investors are watching closely the latest consumer price data to be reported later today by the US Labour department.

EUR/USD rebounded 0.2% to 1.2332, halting a two-day decline. Further advance is expected. The pair keeps trading on the upside while being supported by the ascending 20-period moving average, which stands above the 50-period one.

RSI is well directed in the 60s, indicating continued upward momentum for the pair. As strong intraday bullishness persists, the pair should proceed toward 1.2365 on the upside. Key support is located at 1.2310, breaching which would trigger a further decline toward 1.2290.

On the data slate there’s US Small Business Optimism; US CPI and US Real Average Weekly and Hourly Earnings.

My Personal Trading Plan

SELL EUR/USD @ 1.2325 OR BETTER – STOP @ 1.2380 – TARGET @ 1.2250
SELL GBP/USD @ 1.3890 OR BETTER – STOP @ 1.3940 – TARGET @ 1.3730
BUY USD/JPY @ 106.40 OR BETTER – STOP @ 106.00 – TARGET @ 107.20
SELL CL0418 @ 61.55 OR BETTER – STOP @ 63.00 – TARGET @ 60.70
SELL AUD/USD @ 0.7870 OR BETTER – STOP @ 0.7900 – TARGET @ 0.7730
SELL XAU @ 1320 OR BETTER – STOP @ 1328 – TARGET @ 1302
SELL XAG @ 16.50 OR BETTER – STOP @ 17.00 – TARGET @ 16.00

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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What You Know About --> Fibonacci Retracement in Trending Market.