Good morning, dear friends!
On Monday, the dollar traded in different directions. In pair with the pound the American strengthened, the pair consolidated below 1.2700. There were no significant movements on EURUSD, as well as on USDJPY pair. Statistics on employment in the USA was rather good, so at the moment the growth of the US currency is constrained only by anxiety about interest rates.
On Monday, Trump gave an interview to CNBC and stated that he believes China will make a deal with the U.S. According to him, right now, China is getting absolutely decimated by companies that are leaving China because they don’t want to pay the tariffs. China hasn’t got too many options to choose from, so at the G20 summit this issue should be resolved.
The news on UK turned to be quite negative. Neither GDP nor statistics on industrial production in the manufacturing industry provided support to the pound.
On Tuesday the following events are to be taken into account:
- 13:30 - data on wages and unemployment in the UK;
- 17:30 - data on producer price index in the United States
In general, in terms of news, the day is expected to be calm.
Soybeans - waiting for a signal to sell
In the near future, retest from below of global imbalances at the level of 885.58 may take place. When approaching this mark from below deals for sale should be opened. Since the signal complies with all the rules, the volume will not be reduced.
Target levels are located at 876.40 and 858.04; at each of the marks 50% of the total volume will be fixed. Stop for the deal is located at 894.76.
WTI oil - aggressive deals to buy are considered
Global imbalance is located below the support segment, which makes the signal imperfective and more aggressive than usual. Level of 52.24 has already been broken through upwards, but retest hasn't taken place, therefore deals to buy haven't been made yet.
Upon touching the imbalance one should enter the market with stop located at 50.40 and 2 take profits - at 54.09 and 57.79.
Copper - opening deals for sale from current levels
Here, touching global imbalance level from below has already taken place. Short positions should be opened from the mark of 2.6623; while the chart is located at the market entry point one can sell by the market.
Place stop-loss beyond the reversal pattern maximum at the mark of 2.6658. Take profit should be placed at the levels of 2,6487 and 2,6217.
Platinum market - priority is given to sales
In the beginning of June support segment was formed, and shortly thereafter a global imbalance at 821.70 was received. False breakout of the support zone upwards has taken place followed by formation of a reversal pattern and its general minimum, which is a global imbalance. Upon touching it from below takes place, one can open deals for sale with stop-loss at 832.80.
Both take profits' positioning is calculated according to the Safe rule. The first TP is located at 810.60, the second one - at 788.30.
Gold - bearish positions are more preferable
Here, global imbalance working out is observed at the level of 1338.65. It was broken through downwards with a GAP, but retest hasn't taken place so far. Pending order to sell should be placed at 1338.65, and stop - at 1349.59.
One should exit the market at the levels of 1327.71 and 1305.84. When fixing the first half of the volume (first TP, stop – in breakeven), move stop to the market entry level.
The fact that the GAP is still not covered speaks in favor of this scenario. Global imbalance' retest almost coincides with the price gap closing on the chart.
Monday signals’ summary:
- EURUSD – the deal is still in the market;
- NZDUSD, CADJPY – no signal;
- GBPNZD – first take profit has worked out;
- NZDCAD – stop loss has worked out.
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