Market Brief / 07-12-2017

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US dollar gains came as firms across the country added 190,000 workers to their ranks in November.

EUR/USD continues its slow downtrend awaiting the payroll data on Friday. Preference is still for short positions below 1.1830 with targets at 1.1730. Alternatively, above 1.1830 look for further upside with 1.1880 as targets.

On the data slate there’s Switzerland Unemployment Rate; German Industrial Production; UK House Prices; Euro-Zone Government Expenditure; Euro-Zone GDP; US Challenger Job Cuts; US Initial Jobless Claims; US Continuing Claims; Euro-Zone ECB’s Draghi holds conference as GHOS chair in Frankfurt and US Consumer Credit.

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My Personal Trading Plan

SELL EUR/USD @ 1.1810 OR BETTER – STOP @ 1.1870 – TARGET @ 1.1730
SELL GBP/USD @ 1.3395 OR BETTER – STOP @ 1.3450 – TARGET @ 1.3310
BUY USD/JPY @ 112.35 OR BETTER – STOP @ 112.00 – TARGET @ 113.10
SELL CL0118 @ 56.30 OR BETTER – STOP @ 56.65 – TARGET @ 55.30
SELL AUD/USD @ 0.7560 OR BETTER – STOP @ 0.7600 – TARGET @ 0.7485
SELL XAU @ 1268 OR BETTER – STOP @ 1273 – TARGET @ 1255
SELL XAG @ 16.20 OR BETTER – STOP @ 16.50 – TARGET @ 15.65

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.

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