Sunday, June 17, 2018

Economic Event May 18 - 22

Tariff War between US and China will impact currency sentiment.

AUD
This week RBA Meeting Policy may discuss about tariff war as AUD and China sent move hand to hand. Last week AUD drop could be sign of market pricing already but I think there will be more south move before RBA meeting date anticipating cut rate or QE plan.

Trading plan :
Short AUDJPY
Yen may strengthen with the uncertain tariff war

EUR
Last week EUR hit hard after Draghi speaks of continuing QE and downgrade GDP forecast. EUR could be a continuation of downward but comparing to AUD, EUR was more market price in and more Draghi speak next week.

Trading plan :
No clue yet, but EURJPY should be a good choice

NZD
I have no clue with this currency but I think will move synergy with AUD though not as violent.

Trading plan :
No clue yet

GBP
News filled with Brexit event and slightly bad exonomic news last week. The cable also hit by ECB news. If Brexit plan work smooth should pump up the currency as less dependency with EUR zone.

Trading plan:
Wait for EURGBP breakout at chart more incline to break downward

JPY
BOJ last statement no major policy change meaning JPY is a good bet against other weak pair. Also USDJPY with the tariff war frenzy may attract trader with this safe haven.

Trading plan:
More incline to buy JPY at pivot key.

CAD
Oil currency with upcoming FOMC Meeting may pump up this looney after beating down last week. Tariff war also weigh down this currency but price in last week can drive up the market

Trading plan:
Slightly buy sentiment

CHF
Didnt hear big policy incoming

XAU
Should go down more with strong USD

USD
Probably strengthen more

Summary :
Next week if no major surprise AUD and EUR are the hot stuff. Keep updating the news and sync with market sentiment while entering trade with technical confluence and avoid buying weak currency plus discipline money management will be the key to survive in this business.


   

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