Fx trading Review: The non-US trend is diverging, and the downward space of the Euro has been expanded. Today ’s US “terror data” is coming.
2020-02-14 13:36 from：CAPSTONE author：Jack
Capstone Forex Trading Review of yesterday:
On Thursday, gold rose during the shock, ending the previous three days of decline, and returned to the US $ 1570 mark within the day and stood firm. The current transaction is around US $ 1575. In terms of crude oil, the two oils showed a V-shaped trend and fell more than 1% during the day. The IEA monthly report continued to reduce demand expectations to suppress oil prices to some extent. However, during the European session, all lost ground was fully recovered, and eventually rose modestly. According to market news yesterday, Saudi and Kuwaiti “neutral zone” oil fields will restart on Sunday, with an average daily oil production of 500,000 barrels before the shutdown, accounting for 0.5% of the total global crude oil supply.
In the currency market, the US dollar remained strong and its negative correlation with gold was broken. The US dollar index reached a maximum of 99.13. The euro fell endlessly, with the euro falling to a minimum of 1.0840 against the US dollar, the first time since May 2017, and the cross exchange rates of the euro against the pound and the euro against the yen also recorded new lows in several months. Sterling rose for four consecutive days and returned to the 1.30 mark after a week.
Capstone Forex Trading Today's analysis:
(Europe and the United States M30)
Europe and America:
Yesterday, the euro continued its downward trend, and the euro continued to hit a new low since May 2017. This afternoon, Germany ’s fourth-quarter unadjusted GDP annual rate will be released and other heavy euro zone economic data will be released. France and France Bank pointed out that the euro may face a “short-term threat”. It is expected that Germany ’s fourth-quarter GDP quarter rate will decline by 0.3%, Flat. Less-than-expected figures may further weigh on the euro. Technically, after the EUR / USD broke below the support level in early February, the downward trend has begun. The euro may fall to 1.07 against the US dollar in the next few weeks, continuing to hit a new low since April 2017. The upper pressure levels are 1.0862 and 1.0905, and the lower support levels are 1.0805 and 1.0770. Below the pressure level, the main idea is to do more dips.
EUR / USD trading strategy:
Strategy 1: Go short on rallies (28 points)
Entry: 1.0834 Stop Loss: 1.0862 Take Profit: 1.0806
Strategy 2: Go long and go long (28 points)
Entry: 1.0862 Stop Loss: 1.0834 Take Profit: 1.0890
Fearing that the new coronavirus could cause global deflation, our recent gold trade has become a safe haven for those affected by the outbreak. With the reported death toll from the new crown pneumonia epidemic climbing, safe-haven buyers have turned to gold, causing gold to hit its highest price in 10 days. Today at 21:30, the monthly retail sales rate in the United States in January will be announced. The expected value and the previous value are both 0.3%. The outside world is generally optimistic about the performance of the data. During the day, the upper pressure levels are 1579, 1581, and 1588, and the lower support levels are 1574 and 1572. Continue to maintain the interval management ideas, mainly in the short term.
Capstone Forex Trading Focus on the data today:
Germany's fourth quarter unadjusted annual GDP initial value
Eurozone seasonally adjusted trade account in December (100 million euros)
U.S. January retail sales monthly rate
U.S. January industrial output monthly rate
U.S. University of Michigan Consumer Confidence Index in February
U.S. December commercial inventory monthly rate
[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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