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Forex trading strategy 11/12/2019

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  • Forex trading strategy 11/12/2019

     U.S. President Donald Trump said Saturday at Joint Base Andrews, Maryland, that trade talks between the U.S. And China has made respectable progress. Only slow, “too slow for me.” He told reporters that the talks went smoothly. All the same, he also stressed that he was willing to reach an agreement, but that it must be in line with U.S. Premises.

    Final week, both officials said the two countries agreed to cut tariffs by the equivalent rate, though Mr. Trump later said reports that the U.S. Had agreed to lower tariffs were inaccurate. The tidings of the trade war were mixed, frustrating and confusing to investors.

    This time it’s Trump’s turn to sacrifice those who not only care about to reach a deal, but also come with a proposal to eliminate tariffs. It’s difficult to say who will suffer more because of the deal’s failure, but this last-minute scramble has not galvanized confidence.

    Markets continue to concentrate on the evolution of the trade situation, and on Tuesday Mr. Trump will attend a luncheon at the Economic Society of New York on “Trade and Economic Policy” on which he may comment on the U.S. Economy, trade and the Federal Reserve.

    For its portion, the Brexit party said it would not contest a previous Conservative-held seat in the UK general election. This will give Mr. Johnson, the Prime Minister, a significant hike to his approval ratings ahead of the General Election on December 12th. The Tories will breathe a sigh of relief, which will likewise reduce the prospect of a hung parliament. The securities industry has shown a tendency to support clear results. The positive reaction from the GBP suggests that markets have become more cautious as they have previously looked at the possibility of a labor victory.

    Technically, the DXY’s rebound on Monday was held back below 98.40, with a correction supported above 98.10 and closing at 98.20, meaning that the USD’s short-term rally is likely to stay on a correction. If the U.S. Index rebounds today at 98.35 below the resistor, the target of the post-market correction will point to 98.10-98.00. Today, DXY short-term resistance at 98.30-98.35, short-term important resistance 98.45-98.50. DXY short-term support at 98.10-98.15, short-term important support at 98.00-98.05.

    Monday’s EUR/USD correction was supported above 1.1015, with the rally at 1.1045 and closing at 1.1034, meaning that the EUR/USD short-term correction is likely to remain in the rebound. If the EUR/USD correction is supported above 1.1020 today, the quarry of the post-market rally will point to 1.1045-1.1060. Today EUR/USD short-term resistance at 1.1040-1.1045, short-term important resistance at 1.1055-1.1060. EUR/USD short-term support at 1.1020-1.1025, short-term important support at 1.1000-1.1005.

    Today’s Forex Trading Strategy Recommendations:

    EUR/USD: 1.1020 Buy, 1.1000 Stop Loss, 1.1060 Take Profit

    GBP/USD: 1.2805 Buy, 1.2765 Stop Loss, 1.2905 Take Profit

    USD/CHF: 0.9965 Sell, 0.9995 Stop Loss, 0.9900 Take Profit

    USD/JPY: 109.25 Sell, 109.00 Stop Loss, 109.70 Take Profit

    AUD/USD: 0.6875 Sell, 0.6900 Stop Loss, 0.6835 Take Profit

    USD/CAD: 1.3200 Buy, 1.3170 Stop Loss, 1.3250 Take Profit