Fx trading Review: Trump impeachment was rejected, the US finger returned to the 98 mark, Lagarde's lenient policy on Tai Chi may be on the way!
2020-02-06 11:27 from：CAPSTONE author：Jack
Capstone Forex Trading Review of yesterday:
On Wednesday, gold continued to fluctuate near $ 1550. Although small non-agricultural ADP employment data far exceeded expectations, the risk aversion still dominated the trend of gold prices. After a short-term decline, gold rebounded rapidly and closed slightly higher during the day. In the oil market, as OPEC + emergency ministerial meetings continue, the market expects OPEC + to advance ahead of the meeting, and expectations for deepening / extending production cuts are gradually strengthened. Oil prices usher in a strong rebound, and the US and cloth oil prices rose by more than 4 %.
In the currency market, the U.S. dollar index once again rose above the 98 mark as the US small and non-farm employment report and ISM non-manufacturing data performed well. Among non-US currencies, the European currencies, the pound and the euro, continued to be strong and closed slightly higher. In addition, the US Senate voted on the 5th to veto two impeachment clauses that accused President Trump of abusing power and obstructing Congress. Trump has not been convicted, which means he will not be fired. After the impeachment was voted down, U.S. House Speaker Pelosi said the U.S. Senate Republicans "normalize lawless behavior." In any case, Trump has become the third president in American history to be acquitted by the Senate and stay in office. Because this result was long anticipated by the market, it did not cause much market reaction after the result was announced.
Capstone Forex Trading Today's analysis:
(Europe and the United States M30)
Europe and America:
At 16:00 this afternoon, European Central Bank President Lagarde addressed the Committee on Economic and Monetary Affairs of the European Parliament. In yesterday's speech, neither the European Central Bank President Lagarde nor the European Central Bank's chief economist Lian En have revealed excessive easing signals. Lagarde continued to "play Tai Chi", reiterating the current economic uncertainty and the favorable boost brought by the low interest rate environment, emphasizing that the ECB's forward-looking guidance on interest rate and asset purchases has served as an effective automatic stabilizer . Today, more and more investment banks believe that the European Central Bank's quantitative easing is on its way. Today, Lagarde may reveal more information about the future direction of the European Central Bank's monetary policy in his speech. During the day, the upper pressure levels were 1.1023, 1.1048, and 1.1086, and the lower support levels were 1.0980 and 1.0940. Below the pressure level, rallies were short.
EUR / USD trading strategy:
Strategy 1: Go short on rallies (15 points)
Entry: 1.1008 Stop Loss: 1.1023 Take Profit: 1.0993
Strategy 2: Go long and go long (15 points)
Entry level: 1.1023 Stop loss level: 1.1008 Take profit level: 1.1038
Gold rose on Wednesday (February 5), driven by bargain-hunting, reversing an earlier downtrend that hit a two-week low, as investment was supported by the global low interest rate environment and lingering uncertainty Those who maintain the overall upward trend in gold prices. The price of gold has continued to decline since resistance at $ 158.15 was met. The current price of gold remains near the $ 1,550 support level and a rebound may be attempted. If the price of gold closes, the market may look for long positions. During the day, the upper pressure levels are 1562, 1567, and the lower support levels are 1550, 1546. Continue to maintain the weak ideas for consolidation.
Capstone Forex Trading Focus on the data today:
ECB President Lagarde speaks
U.S. challenger company layoffs in January (10,000 people)
Number of U.S. unemployment claims (10,000 people)
Dallas Fed Chairman Kaplan speaks
[Capstone Forex Trading Disclaimer]:
This analysis and trading strategy is an objective description of the current market trend. Investors need to strictly follow the trend, light positions, and stop losses! Orders cannot be completely based on trading strategies, only for reference!
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