Trading plan for 15/02/2018

The growing stock market indices and the weaker USD sentiment remained on the Asian part of the session. USD/JPY deepens declines, and comments from the Japanese government do not bother. Data from the Australian labor market fell short of expectations, although with a deeper analysis they are not too good. The liquidity is limited due to the start of the New Moon Year celebrations in many Asian countries.

On Thursday, 15 February, the event calendar is quite busy with important news releases. The market participants should keep an eye on Trade Balance data from the Eurozone, ADP Non-Farm Employment Change data from Canada, PPI, Philly Fed Manufacturing Index, and Unemployment Claims data from the US.

AUD/USD analysis for 15/02/2018:

In Australia, employment in January increased by 16k versus the expected 15k increase, and the unemployment rate amounted to 5.5%. However, the details of the report do not look good. Full-time employment fell by 49.8k (a month earlier +1.1k), and part-time employment increased by 65.9k(vs 19.5k).

Let's now take a look at the AUD/USD technical picture at the H4 time frame. The market has broken above the 38% and 50% Fibo retracement and is currently heading towards the 61% at the level of 0.7987. The momentum is quite strong, but the market starts to enter the overbought territory. A reversal or pull-back is expected at the level of 0.7987.

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Market Snapshot: DAX is trying to bounce higher?

The price of German DAX index did not make a new local low, but instead, bounced a little higher and left the long shadow up candle. This might suggest another attempt to test the recent technical resistance at the level of 12,503 and then 12,623. The stock indicator is bouncing off the oversold territory, confirming the upwards bias.

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Market Snapshot: SPY has the lower high in view

The price of SPY (SP500 ETF) has made its way towards the previous lower high at the level of 272.32, accompanied by the strong upward momentum. Currently, the price is trading at the level of 269.64, and it is breaking through all of the minor resistance. The mentioned level is the key resistance to the upside.

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The material has been provided by InstaForex Company - www.instaforex.com