Sell on a level breakthrough of 1121 with 1101 target. Stop loss = 1131.
Reason for the trading strategy
Today at 12.30 GMT, the figures for the US merchandise trading balance will be published. The expected growth rate from to minus $59.1 billion to minus $ 57.3 billion will support the world's reserve currency. The trade turnover is 75% of the country's trade balance, which in turn is part of the US GDP.
January 16, 2017 Surging equities at risk ahead of earnings season
While earnings season has started on a very positive footing, however, banks and other financial companies were already expected to shine more than others due to rising interest rate expectations. As non-financial companies begin to report in the coming weeks...
January 16, 2017 Oil prices were unmoved
After reaching 56.50 dollars per barrel Brent rolled back to 55.50. The benchmark started Friday in a consolidation. Brent extended its sideways trades during the European session. The “black gold” was range-bound-to lower during the day...
January 16, 2017 XAUUSD at major resistance, time to sell
We turn bearish below 1198 resistance (Fibonacci retracement, horizontal resistance) as we prepare to see a strong move down to 1176 support (Fibonacci retracement, recent swing low support, Fibonacci projection)...
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