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Trading plan 24 - 28/07/2017
The general picture: The Fed, the US GDP. Probable correction on the trend.
In the market, the general trend against the US dollar (except for the yen). The trend against the dollar, the euro, franc, pound, gold. The yen under the pressure of other currencies departs from the trend for the dollar.
At the same time, a significant distance has been traversed by the trend, in particular, the trend for the EUR / USD trend is already in the fifth month. In July the growth of 450 points in the 4-digit and a correction is very probable.
That is purchases with strong kickbacks.
And the reasons for kickbacks are the most important news in the United States.
On Wednesday, new decisions will be announced from the Fed. Nobody expects a rate increase from the current 1.00 - 1.25% (average 1.125%).
However, the statement of the Fed will be carefully examined for the purpose of assessing inflation and the question of the moment when the withdrawal of liquidity from the markets begins (September or December - the beginning of the process?)
Next, on Friday, July 28, the first US GDP report for the 2nd quarter will be released. Experts expect strong growth of + 2.6% (forecast range from +2.2 to +2.9), while the deflator is also important.
Both events, the Fed and the US GDP are quite capable of causing a significant pullback after strong trends and strengthening of the dollar.
EUR / USD
The trend of growth. Purchases after significant kickbacks. There are no levels to enter the sales for a breakthrough yet. Possible sales from the maximum of the week with a stop of no more than 50 points.
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