EUR/USD Long, GBP/USD Long

Commodities Week Ahead: Oil Awaits Year End To Play Out; Gold Awaits Fed

EUR/USD Long, GBP/USD Long

www.investing.com/analysis/eurusd-long-gbpusd-long-200296398

EUR/USD Long, GBP/USD Long

By MyFXspot research | Mar 07, 2018 11:33AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

Top White House economic adviser Gary Cohn, who became a key architect of the 2017 tax overhaul and a bulwark against protectionist forces within the Trump administration, resigned. Cohn's resignation came after Trump said he was sticking with plans to impose hefty tariffs on steel and aluminum imports. While the measures on their own are relatively small, the risk is that an emboldened Trump administration will push ahead with a full-scale economic confrontation with China.

Today at 19:00 GMT the Fed releases its Beige Book, in which it will likely reiterate that the economy expanded at a modest to moderate pace in the winter months. The report should also once again highlight increasing tightness in labor-market conditions, while inflationary pressure has intensified.

The Bank of Canada kept interest rates steady, as widely expected. Reiterating its key January phrasing word-for-word, the bank said that while more hikes are probably warranted, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target, and pledged caution in considering future rate moves.

The Australian economy advanced 0.4% in the fourth quarter of 2017, less than market consensus of a 0.5% expansion and after an upwardly revised 0.7% growth in the previous quarter.

This is how our forex trading strategies look:

EUR/USD
Trading strategy: Long
Open: 1.2330
Target: 1.2580
Stop-loss: 1.2210
Recommended size: 1.67 mini lots per $10,000 in your account
Short analysis: The EUR/USD bulls managed to register a daily close above the 30-day SMA, which is currently at 1.2355, this increases the likelihood for further gains to the 30-day upper Bollinger® band, currently at 1.2511, and February 16 high at 1.2555.
Previous position: Short opened at 1.2300, profit taken at 1.2180, earned: 120 pips, $328 per $10,000 in your account

GBP/USD
Trading strategy: Long
Open: 1.3780
Target: 1.4100
Stop-loss: 1.3640
Recommended size: 1.07 mini lots per $10,000 in your account
Short analysis: The GBP/USD broke above 7-day EMA and bulls need a break above the 14-day EMA and yesterday’s high at 1.3929 now. A close below that level may weaken bullish momentum.
Previous position: Short opened at 1.3930. Profit taken at 1.3770, earned: 160 pips, $301 per $10,000 in your account

USD/JPY
Trading strategy: Short
Open: 106.20
Target: 104.20
Stop-loss: 107.20
Recommended size: 1.58 mini lots per $10,000 in your account
Short analysis: The market is capped by the 106.48 Fibonacci level, 23.6% retrace of ther 110.48 to 105.24 fall. 14-day momentum remains negative, reinforcing the bearish market structure. We remain short at 106.20 for 104.20.
Previous position: Short opened at 107.80. Profit taken at 107.40, earned: 40 pips, $53 per $10,000 in your account

USD/CAD
Trading strategy: Await signals
Open: -
Target: -
Stop-loss: -
Recommended size: -
Short analysis: Yesterday’s correction is not being continued today. The pair remains above short-term moving averages and further upward move cannot be excluded. In our opinions much depends on new developments on the trade-war story here. That is why we do not open a new position.
Previous position: Short opened at 1.2820. Stop-loss hit at 1.2930, lost: 110 pips, $150 per $10,000 in your account

AUD/USD
Trading strategy: Long
Open: 0.7805
Target: 0.8010
Stop-loss: 0.7705
Recommended size: 2.00 mini lots per $10,000 in your account
Short analysis: The AUD/USD broke to the topside from recent consolidation and then clears the 200- and 7-Day SMAs despite weaker-than-expected GDP data. RSIs are biased up so a further bounce is likely. Our bid at 0.7805 was filled today and our target is 0.8010 now.
Previous position: Short opened at 0.7845. Profit taken at 0.7785, earned: 60 pips, $180 per $10,000 in your account

EUR/GBP
Trading strategy: Buy
Open: 0.8880
Target: -
Stop-loss: 0.8815
Recommended size: 1.12 mini lots per $10,000 in your account
Short analysis: We keep our bid unchanged as some volatility is likely this week and a temporary dip below 0.8900 cannot be excluded.
Previous position: Short opened at 0.8790. Stop-loss hit 0.8830, lost: 40 pips, -$100 pips per $10,000 in your account

Source: MyFXspot.com

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<div class="flag js-flag">
		<a href="javascript:void(0);" id="commentFlag_{commentID}">
			<span class="commentFlagIcon " title="Report"></span>
		</a>
	</div>
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.akamaized.net/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<div class="flag js-flag">
		<a href="javascript:void(0);" id="commentFlag_{commentID}">
			<span class="commentFlagIcon " title="Report"></span>
		</a>
	</div>
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.akamaized.net/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.akamaized.net/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

</div>
			
		</div>
		</div>
    </div>
			</div>
			<div id="show-more-comments">
				<a class="showMoreComments block">
					<span class="arial_12 showArrowafter">Show more comments (<span class="js-amount"></span>)</span>
				</a>
			</div>
			<div id="show-more-replies">
				<a class="showMoreReplies block">
					<span class="arial_12 showArrowafter">Show more replies (<span class="js-amount"></span>)</span>
				</a>
			</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Irrelevant

Thank You!

Your report has been sent to our moderators for review

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Central Banks

Interest Rates

Next Meeting

FED

2.25%

Dec 19, 2018

ECB

0.00%

Jan 24, 2019

BOE

0.75%

Dec 20, 2018

SNB

-0.75%

Mar 21, 2019

RBA

1.50%

Feb 05, 2019

BOC

1.75%

Jan 09, 2019

RBNZ

1.75%

Feb 13, 2019

BOJ

-0.10%

Dec 20, 2018

CBR

7.75%

Feb 08, 2019

RBI

6.50%

Feb 07, 2019

PBOC

4.35%

BCB

6.50%

Feb 06, 2019

S&P 500 Futures	2,540.50	-65.00	-2.49%
S&P 500	2,536.54	-63.41	-2.44%
Nasdaq 100	6,415.85	-179.11	-2.72%
Dow 30	23,513.41	-587.10	-2.44%
SmallCap 2000	1,377.08	-30.63	-2.18%
S&P 500 VIX	25.61	+3.98	+18.40%
FTSE 100	6,773.24	-71.93	-1.05%
DAX	10,772.20	-93.57	-0.86%

Crude Oil WTI	49.54	-1.93	-3.75%
Brent Oil	58.87	-1.41	-2.34%
Natural Gas	3.545	-0.282	-7.37%
Gold	1,250.20	+8.80	+0.71%
Silver	14.742	+0.105	+0.72%
Copper	2.741	-0.021	-0.78%
US Soybeans	904.75	+4.75	+0.53%
US Wheat	535.00	+5.00	+0.94%

SPDR S&P 500	254.20	-6.27	-2.41%
VelocityShares Daily 2x VIX Short Term linked to S	59.85	+6.28	+11.72%
Invesco QQQ Trust Series 1	156.56	-4.52	-2.81%
Direxion Daily Junior Gold Miners Bull 3X Shares	8.02	+0.76	+10.47%
VelocityShares 3x Inverse Natural Gas linked to S&	93.82	+15.13	+19.23%
ProShares Ultra VIX Short-Term Futures	71.7600	+5.8900	+8.94%
ProShares UltraPro QQQ	39.38	-3.52	-8.21%
VanEck Vectors Gold Miners	20.6090	+0.4890	+2.43%

BTC/USD	3,689.1	+358.0	+10.75%
ETH/USD	99.15	+10.85	+12.29%
BCH/USD	90.68	+10.73	+13.42%
XRP/USD	0.33100	+0.04347	+15.12%
EOS/USD	2.4687	+0.4934	+24.98%
LTC/USD	29.700	+3.910	+15.16%
ADA/USD	0.034537	+0.004474	+14.88%
XLM/USD	0.11142	+0.01428	+14.71%

EUR/USD Long, GBP/USD Long

Related Articles