5 Things To Watch In The US Session – Safe Haven Is Back!
Arslan Butt • 2 min read
So far, it’s been a great day so far as we close two trading signals in profit before they reversed exactly opposite. I’m referring to Gold and the WTI Crude Oil. Brace yourself for the US session as the market can get massively volatile on the US fundamentals. …
1) Gold – Safe Haven Triggered
Gold Recently, the US President Trump tweeted that Russia should get ready for missiles to be fired on Syria. He also warned Russia about backing Syrian President Bashar al Assad, and said US missiles “will be coming” in punishment for a chemical weapons attack on civilians.
The safe haven assets are back in demand and Gold is trading near $1,350. My next move is to sell Gold below $1,356.
2) EUR/JPY – Sideways Pattern
The EUR/JPY is trading sideways in a narrow range of 132.500 – 132.200. I will be looking to sell the pair on the breakage of 132.200 to target 131.950.
3) GER30 – DAX – Double Bottom
The German stock index has plunged below $12,325, the intra-day support level. Considering the recent bearish engulfing candle, I think Dax can continue its bearish momentum until $12,200. That’s where I would like to catch a quick pullback.
4) US CPI m/m
Fellas, we need to watch the US CPI figures at 12:30 (GMT). The Core CPI rose by 0.2% in Feb. But this time, the economists aren’t expecting any change in the US inflation. Overall, the US inflation stays at 1.8% y/y. It will be nice to trade any divergence between actual and forecast.
5) Crude Oil Inventories
The reason, we closed crude The Crude Oil investors are advised to monitor EIA stockpile data at 14:30 (GMT). As per the economist’s forecast, the Oil inventories will show a drop of -0.6M vs. -4.6M last week. For the moment, Crude Oil is facing a nice resistance at $66.25 and break above this level can lead WTI towards $68.25. Good luck and trade with care!