Trading plan: August 14 - 18, 2017

Trading plan 14 - 08/18/2012

General picture: There is no any important economic news expected. However, there is a package of economic data from the United States to be issued on Tuesday at 15.30 which includes retail sales, business activity index in New York and the price of imports and exports. All these releases are not arranged according to its importance, but it can move the market generally. On Wednesday, the report regarding the minutes of the Fed's last policy meeting will be released. But there seems to be no chance of any surprises. The currency market should wait until next week, August 24 to 25 for an important meeting of the heads of the largest securities in Jackson-Hole. Everyone is waiting for an agreed decision regarding the beginning of an exit from the super-soft monetary policy.

On the political front: Last week, the markets anticipate for a US military strike against North Korea. The statements of both sides were extremely tough. But the question of the strike seems to be postponed and China again gets a "last chance" to force the North Korea to make a deal but a blow in the future is highly possible.


We expect growth at least until the latest high of 1.1910. The trend is not broken up. We stand in the purchase from 1.1770 and stop at 1.1725, hence, it is possible to stop at 1.1745. The level for down trade entry is to breakdown 1.1685.

The signal for stopping the upward trend is closing the day below 1.1600.


The material has been provided by InstaForex Company -