The dollar traded lower from 2019 highs after a lackluster low volume summer session yesterday and ahead of the FOMC meeting minutes today in the afternoon. Most FX markets traded in narrow ranges, as investors stay away from the buy/sell buttons awaiting more clarity from leading Central Banks. Also, on the table, the US China trade war, the Brexit, German and Chinese proposed stimulus programs and the US interest rates path. The turmoil in Italy let to a setback in EU equities markets after 4 strong green days, US equity markets traded lower on global slowdown fears and the overall sentiment was negative, leading “safe heavens” higher after 3 pullback days. Gold prices traded higher for a $1,504 close, up nearly 1% on the day, the JPY and CHF also closed with minor gains. Oil closed marginally higher and the Inventories numbers will put to the test the trend and recent gains for investors. Oil closed at $56.04 yesterday, up 4 days in a row.
CAD CPI at 1:30 pm, US Home sales at 2:00 pm, Oil Inventories at 2:30 pm and the FOMC meeting minutes at 6:00 pm are the important news on the agenda Wednesday. (all times GMT).
| Global Markets 24 hours wrap-up | ||||||
|---|---|---|---|---|---|---|
| Market | GBPUSD | USDJPY | EURJPY | EURUSD | GOLD | OIL |
| 20.8.19 | 0.34% | -0.36% | -0.12% | 0.23% | 0.8% | 0.05% |
| USDMXN | USDCHF | AUDUSD | AUDJPY | USDCAD | Silver | Nat Gas |
| -0.61% | -0.4% | 0.25% | -0.11% | -0.08% | 1.15% | 0.27% |
| Dollar Index | DAX | FTSE100 | CAC40 | EURSXX50 | NIKKEI225 | CSI300 |
| -0.18% | -0.55% | -0.9% | -0.5% | -0.56% | -0.35% | -0.03% |
| 1 YEAR | -5.92% | -5.82% | -1.18% | -1.8% | -7.3% | 13.83% |
| Swing report | ||||||
|---|---|---|---|---|---|---|
| TRADE | ENTRY PRICE | POSITION | OPEN PROFIT | DATE TRIGGERED | STOP LOSS | UPDATES |
| EURJPY | 111.84 | 0.8 | -5 | 16/8 | 111.8 | stopped out |
| EURGBP | 9128 | 0.8 | -20 | 21/8 | 9100 | new position |
| GOLD | 1,498 | 8 | 255 | 19/8 | 1,490 | |
| NASDAQ | 7509 | 12 | 1,915 | 15/8 | 7667 | stopped out |
| OIL | 56.5 | 8 | 55.87 | trade idea | ||
| OPEN PROFIT | $235 | |||||
NASDAQ long swing trade from “hammer” on daily chart, closed yesterday a $1,915 winner.
Oil long trade idea ahead of the Inventories numbers today in the afternoon.
EURGBP swing long trade using strong daily chart and 9100 support level
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