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Forex trading strategy 11/19/2019

Forex technical analysis:

While optimistic about the recent China-U.S. Trade agreement is heating up, markets remain cautious about making an agreement, sending USD/JPY and EUR lower. With December 15th the time for another turn of US taxes on Chinese goods, markets are watching closely for the first phase of the previous agreement to implement the two sides in less than a month.

Liu Heying, Vice Premier of the State Council and China’s lead in the China-U.S. Comprehensive Economic Dialogue, spoke with U.S. Trade Representative Leite Hitze and Finance Minister Mnuchin. The two sides had constructive discussions on the core concerns of the beginning phase of the agreement and would continue to maintain close exchanges. Only it is now up to us to see whether President Trump will abolish the tax, which could be a key factor in implementing the agreement.

On the other hand, EUR/USD rebounded from a two-year low of 1.0877 hit on October 1st, as markets were optimistic that the eurozone economy would improve with a swap deal between the US and China. Still, analysts say the European and global economies need to perform stronger to sustain the euro’s rally. Meanwhile, the GBP was boosted by expectations that Britain’s Conservatives could gain a majority in the December 12 general election.

Forex fundamental analysis:

The DXY rebounded below 98.00 on Monday, falling above 97.65 and closing at 97.79, meaning the USD is likely to continue on the decline after a short rally. If the DXY rebounds below 98.00 today, the target for the market will fall to 97.65-97.50. Today, DXY short-term resistance at 97.95-98.00, short-term important resistance 98.10-98.15. DXY short-term support at 97.65-97.70, short-term important support at 97.50-97.55.

Monday’s EUR/USD correction was supported by a rally above 1.1050, rising below 1.1090 and closing at 1.1076, meaning that the EUR/USD short-term correction is likely to stay up. If the EUR/USD correction is supported above 1.1050 today, the target for the post-market rally will point to 1.1095-1.1105. Today EUR/USD short-term resistance at 1.1090-1.1095, short-term important resistance at 1.1110-1.1115. EUR/USD short-term support at 1.1050-1.1055, short-term important support at 1.1030-1.1035.

Forex Trading Strategy Recommendations:

EUR/USD: 1.1055 Buy, 1.1030 Stop Loss, 1.1110 Take Profit

GBP/USD: 1.2920 Buy, 1.2880 Stop Loss, 1.3020 Take Profit

USD/CHF: 0.9865 Buy, 0.9840 Stop Loss, 0.9935 Take Profit

USD/JPY: 108.40 Buy, 108.15 Stop Loss, 109.30 Take Profit

AUD/USD: 0.6795 Buy, 0.6780 Stop Loss, 0.6835 Take Profit

USD/CAD: 1.3230 Sell, 1.3260 Stop Loss, 1.3175 Take Profit

Forex trading strategy 11/18/2019

Forex technical analysis:

Renewed optimism about the U. S-China trade deal has sent a demand for safe havens in the U.S. Dollar down, with the EUR and GBP is rebounding against the US. U.S. Commerce Secretary Michael Ross said Friday that progress was being drawn on the details of the deal, which helped boost trade-exposed currencies, but dragged down safe-haven assets such as the JPY.

“We are close to a trade agreement with China,” said Mr. Kudlow, the US national economic consultant. Kudlow also noted that negotiation with China has been very constructive. This has improved market risk sentiment. And the latest remarks from U.S. Commerce Secretary Michael Ross has certainly added a glimmer of hope to the optimism that Mr. Kudlow has brought overnight. Meanwhile, U.S. Retail sales rebounded in October, but consumers cut back on expensive household items and clothing, raising doubts about the strength of consumers currently supporting the U.S. Economic system, according to a Commerce Department report released Friday.

In summation to the weakness of the USD, news from the UK on the day also gave GBP a boost on the short line. Granting to the Daily Telegraph, the Brexit party withdrew from 43 non-Tory seats, 17 of which were in second place for the Conservatives in 2017, with 11 Labor seats. In summation, the Brexit candidate withdrew from more than 40 non-Tory-held seats in a move that traders believe will help the Conservatives win a majority in the upcoming UK general election. But analysts point out that the positive news from the general election may have deflected pessimism about the long-term prospect for the pound, given that there is still more uncertainty after the UK has only 11 months left to negotiate a trade deal with the EU before the end of the transition period.

Forex fundamental analysis :

The DXY rebounded below 98.25 on Friday, falling above 97.95 and closing at 98.00, meaning the USD is likely to continue on the decline after a short rally. If the DXY rebounds below 98.20 today, the target for the market will fall to 97.90-97.80. Today, DXY short-term resistance at 98.15-98.20, short-term important resistance 98.30-98.35. DXY short-term support at 97.85-97.90, short-term important support at 97.75-97.80.

The EUR/USD correction on Friday was supported by a correction above 1.1015, rising below 1.1060 and closing at 1.1053, meaning that the EUR/USD short-term correction is likely to stay up. If the EUR/USD correction is supported today above 1.1025, the target of the post-market rally will point to 1.1070-1.1085. Today EUR/USD short-term resistance at 1.1065-1.1070, short-term important resistance at 1.1080-1.1085. EUR/USD short-term support at 1.1025-1.1030, short-term important support at 1.1000-1.1005.

Forex Trading Strategy Recommendations:

EUR/USD: 1.1025 Buy, 1.0995 Stop Loss, 1.1085 Take Profit

GBP/USD: 1.2875 Buy, 1.2845 Stop Loss, 1.2950 Take Profit

USD/CHF: 0.9885 Buy, 0.9860 Stop Loss, 0.9930 Take Profit

USD/JPY: 108.50 Buy, 108.15 Stop Loss, 109.20 Take Profit

AUD/USD: 0.6790 Buy, 0.6760 Stop Loss, 0.6845 Take Profit

USD/CAD: 1.3250 Sell, 1.3275 Stop Loss, 1.3195 Take Profit

Forex trading strategy 11/15/2019

Forex technical analysis:

Doubt over the U. S. -China trade deal and the Trump impeachment investigation have sent a demand for safe havens soaring, with safe-haven assets such as the JPY gaining a boost. At the same time, the suppression of risk sentiment also boosted U.S. Government bond prices and cast down the stock market, and the USD fell as a result.

On Sino-US trade, Ministry of Commerce spokesman Gao Feng said at a regular press conference at the Ministry of Commerce on the 14th, China has repeatedly emphasized that the trade war from the imposition of tariffs, but also by the abolition of tariffs, which is an important condition for the two sides to reach an agreement. In improver, the website of the General Administration of Customs today released the General Administration of Customs, Ministry of Agriculture and Rural Affairs Announcement No. 177 of 2019 (Announcement on lifting restrictions on the import of poultry meat in the United States). Still, analysts’ concerns about uncertainty over the U. S. -China trade deal is growing again, affecting the performance of risky assets.

U.S. House Speaker Nancy Pelosi said Thursday that Trump has taken to bribing in the Ukraine scandal, a central issue in the Democratic-led impeachment investigation into Trump. Pelosi accused Trump of violating the U.S. Organization and should be impeached. In addition, U.S. rare coins are very portable. Producer price index (PPI) recorded its largest monthly increase in six months in October, buoyed by rising costs of goods and services, further cementing the Fed’s position that interest rates may not be cut again in the near future.

Forex fundamental analysis :

The DXY rebounded below 98.45 on Thursday, with a correction above 98.10 and closing at 98.16, meaning the USD is likely to keep up a correction after a short rally. If the DXY bounces below 98.40 today, the quarry of the post-market correction will point to 98.00-97.90. Today, DXY short-term resistance at 98.30-98.35, short-term important resistance 98.50-98.55. DXY short-term support at 98.00-98.05, short-term important support at 97.90-97.95.

Thursday’s EUR/USD correction was supported above 1.0985, with the rally at 1.1030 and closing at 1.1022, meaning that the EUR/USD short-term correction is likely to remain in the rebound. If the EUR/USD correction is supported above 1.0995 today, the quarry of the post-market rally will point to 1.1040-1.1055. Today EUR/USD short-term resistance at 1.1035-1.1040, short-term important resistance at 1.1050-1.1055. EUR/USD short-term support at 1.0995-1.1000, short-term important support at 1.0970-1.0975.

Forex Trading Strategy Recommendations:

EUR/USD: 1.0995 Buy, 1.0970 Stop Loss, 1.1055 Take Profit

GBP/USD: 1.2900 Sell, 1.2930 Stop Loss, 1.2840 Take Profit

USD/CHF: 0.9905 Sell, 0.9930 Stop Loss, 0.9850 Take Profit

USD/JPY: 108.75 Sell, 109.15 Stop Loss, 108.15 Take Profit

AUD/USD: 0.6825 Sell, 0.6850 Stop Loss, 0.6755 Take Profit

USD/CAD: 1.3245 Buy, 1.3220 Stop Loss, 1.3285 Take Profit