Sell on a level breakthrough of 119.68 with 118.79 target. Stop loss = 120.30.
Reason for the trading strategy
The Bank of Japan has kept unchanged its policy of increasing the monetary base by 80 trillion yen per year. The Bank of Japan kept its principal assessment of the economy unchanged. According to the regulator, the national economy is following a trend of moderate recovery. It is unlikely that additional monetary easing will be required in the country.
January 24, 2017 Gold turned bearish
Traders have not changed their opinion preserving upbeat tone on Monday. The demand for the metal grew amid uncertainty around Trump's proposed fiscal policy measures. A weak sentiment surrounding equity markets lent some support to the precious metal as well...
January 24, 2017 Caution reigns over the markets
The week kicks off with a sharp depreciation of the US Dollar, as hedge fund managers withdrew from the Dollar causing net speculator positions drop to three-week lows at 310,475...
January 24, 2017 The strong start of the new US presidency makes USD softer
So this is how Donald Trump first day in office looks like. He has easily made it to the headlines, In his first executive orders he confirmed that NAFTA will be renegotiated and that the US no longer applies for the TPP...
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