Trading plan 11 - 15/09/2017

Trading plan 11 - 15/09/2017

The general picture. EURUSD. A week without big news, a range.

The opening of the week passed calmly. At the weekend, North Korea and the United States was made to worry. Many expected a new launch of a long-range missile from North Korea since September 9 is the anniversary of the formation of the DPRK. And in the event of such a launch, the missiles were expecting a tough reaction from the US up to a military strike. That did not happen.

The United States submitted to the UN Security Council a resolution with new sanctions against North Korea. A vote is expected on Monday, September 11. The main thing in sanctions is a ban on the supply of petroleum products to North Korea. They do not have their own oil.

China and Russia were negative about the new sanctions.

Sev. Korea already threatens the US, "damage and suffering" in the case of new sanctions. (Let me remind you that the new sanctions and the reaction to testing the great strength of the hydrogen bomb a week ago by North Korea, gross violation of the UN requirements).

Thus, on this front, serious events are possible.

The new powerful hurricane "Irma" weakened, after causing serious damage to Florida, the US and this negative have decreased.

In the foreign exchange market: At the end of last week, the ECB did not change the monetary policy, and ECB officials did not begin to voice their plans to curtail the QE program.

EUR/USD: What is important here? Market reaction.

We saw a sluggish attempt to show new highs. The maximum of the end of August for EUR/USD 1.2070 was breached, but the strength of the growth was enough only to 1.2090. And the current price for Monday morning is 1.1995.

In addition: There are no important news in the week.

Growth was exhausted, at least for awhile. The range is 1.1800 - 1.2100.

There is a new attempt to reach the highs, but from 1.2080 and higher you can try selling (stop at no more than 45 pp).

In the case of growth to the highs, an interesting level is formed down for sale for a breakthrough.


The material has been provided by InstaForex Company -