Trading Plan on 11.03.2019

Big Picture: Important headlines in the new Week

Last week, the EUR/USD rate gave a strong signal and breaks through the levels of 1.1230 and 1.1215, which signals for a downward trend.

Furthermore, the nonfarm US employment report in February came out very weak on Friday with a total of +20 K and this stopped the decline of the euro.

In the new week on March 12-14, the decision on Brexit will finally be made and most likely, Britain's withdrawal from the EU will be significantly postponed by date probably to 2020.

Additionally, the market turned their attention to the data on the US as there will be a report on retail sales on Monday.

Let me remind you that the United States has already switched to summer time and now the news and the opening of the US market an hour earlier at 12.30 London time and 13.30 London time.

On next Tuesday, there is the data on inflation, followed by orders for durable goods on Wednesday.

Positive for the market: the United States and China have advanced to conclude on the trade agreement. In particular, China is ready to make a commitment not to underestimate the yuan rate to improve export conditions, according to private information.

EUR / USD: Keep sales from the level of 1.1315.

In the event of an upward reversal in the euro, we buy during the breakdown of 1.1425.


The material has been provided by InstaForex Company -