Trading plan for 18/09/2018
September 18, 2018 7:22 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
On Tuesday, the 18th of September, the event calendar is light in important events, so today’s session promises to be not very exciting. Apart from Mario Draghi’s speech at 08:15 am GMT, not much will happen. But the night was interesting as Donald Trump announced a 10% duty on Chinese goods with a total value of USD 200 billion. As a result, the USD remains in defensive with EUR / USD going above 1.17. AUD / USD is bouncing from 0.7143 to 0.7215. The stock market at the end of the session in Asia is dominated by a positive sentiment. Japanese Nikkei225 grows 1.5% and Chinese Shanghai Composite gains 0.8%. WTI crude oil returned under USD 69 / b, as worries about trade disputes are fueling speculation about losses to demand. Gold is consolidated at USD 1200 / oz. Moreover, in Australia, there were minutes from the last meeting of the Australian Reserve Bank.
AUD/USD analysis for 18/09/2018:
The minutes of the September meeting of the Reserve Bank of Australia has been released overnight. The management of the institution agrees that there is no reason to change interest rates in the near future. The next move will probably be a rise if the economy develops in the current direction. Trade tension is currently the largest global risk for the country’s economy. In addition, the management discussed the possibility of a crisis in developing countries, with particular emphasis on Turkey and Argentina. The last significant drop in the value of the Australian dollar proved to be very helpful. In the next few years, the Australian economy should grow above the long-term average. Conditions on the labor market are positive, the Bank noted a significant decline in unemployment among young people. In the next few quarters, there should be a visible increase in wages.
Let’s now take a look at the AUD/USD technical picture at the H4 time frame. The market has bounced sharply from the level of 0.7140 after the RBA Minutes were published and currently is trading just below the technical resistance at the level of 0.7222. Above this level, there are another two more technical resistance levels at 0.7229 and 0.7235, so it might be tough for bulls to break through at once, but it is still possible. The nearest technical support is seen at the level of 0.7195. The momentum is strong and positive and this supports the short-term bullish outlook.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: