As mentioned in yesterday’s headline, Trump’s tariff truce with China was meaningless. There wasn’t even anything that looks like an MOU or even a promise written on the back of a napkin.
There’s even some confusion whether the 90-day truce started on 1 Dec or will start from 1 Jan.
In the meantime, there will be little direction in EURUSD. Scalpers should look out for buy stops above 1.1380 and 1.1430, and bids near 1.1290, same levels as yesterday.
GBPUSD broke support at 1.2750 dollars, and is now testing 1.2700.
So far GBP players seem to be targeting big figure levels i.e. round number levels like 1.2700, 1.2800, etc.
The next support levels are at 1.2620 and 1.2500 dollars.
AUDUSD was testing offers around 73.80 since yesterday and is stalling ahead of the RBA rate decision in less than an hour.
No rate action expected. We’re still looking the yesterday’s gap up to close back down. But watch out for stop runs towards buy stops around 74.15.
We’re staying away from USDJPY.
Hope you’re having a good week so far.
#TradeAtYourOwnRisk but trade with #Mocaz and #RealTraderCommunity.