Market Brief / 13-12-2017

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US dollar edged higher Tuesday, a day before the FOMC is expected to announce an interest rate increase. Some analysts believe the economy could get a boost if Republican lawmakers pass sweeping tax cuts in coming weeks, pushing the Fed to raise rates at a faster pace next year.

EUR/USD is under pressure touching a low yesterday at 1.1716. Preference is till to maintain short positions below 1.1770 with targets at 1.1650. Alternatively, above 1.1770 look for a rebound to 1.1820.

On the data slate there’s German Wholesale Price Index; German CPI; UK Claimant Count Rate; UK Jobless Claims Change; UK Average Weekly Earnings; UK Unemployment Rate; UK Employment Change; Euro-Zone Industrial Production; Euro-Zone Employment; US Mortgage Applications; US CPI; US Real Average Weekly Earnings; US Crude Oil Inventories; US FOMC Rate Decision and US Janet Yellen Holds Press Conference Following FOMC Meeting.

My Personal Trading Plan

SELL EUR/USD @ 1.1750 OR BETTER – STOP @ 1.1820 – TARGET @ 1.1650
SELL GBP/USD @ 1.3335 OR BETTER – STOP @ 1.3390 – TARGET @ 1.3265
BUY USD/JPY @ 113.30 OR BETTER – STOP @ 112.80 – TARGET @ 114.10
SELL CL0118 @ 57.60 OR BETTER – STOP @ 58.30 – TARGET @ 56.85
SELL AUD/USD @ 0.7570 OR BETTER – STOP @ 0.7610 – TARGET @ 0.7465
SELL XAU @ 1248 OR BETTER – STOP @ 1255 – TARGET @ 1235
SELL XAG @ 15.80 OR BETTER – STOP @ 16.30 – TARGET @ 15.30

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD NOT TAKE ANY MATERIAL POSTED AS RECOMMENDATION.