Trading Plan 10/19/2018
The overall picture: A turn towards the dollar.
News in the morning: In the Chinese economy, signs of a slowdown have been noticed. While small, the growth in output has dropped from 6.6% to 6.5%. At the same time, China's top officials in charge of regulating finance and markets made statements, promising support for markets and the economy. China's market grew by + 2.4% in indices.
European currencies are under pressure for two reasons. First, an unsuccessful EU-Britain summit on the terms of relations after Brexit. An agreement could not be reached, we decided to give Britain a long transitional period. The second factor, the expectations of the Fed rate hike strengthened after the Fed minutes
The market turns to wait for the ECB meeting next Thursday.
Pound: We are ready to sell at a break down of 1.2920.
Alternative: Purchase from 1.3260.
