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Main » 2018 » November » 8 » Trader trading ideas for today 08 .11.2018
12:17
Trader trading ideas for today 08 .11.2018

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By the end of trading session on Wednesday, the US currency weakened against risky assets, which was due to the reaction of traders in the outcome of the midterm elections in the US. As expected, the Democrats won control of the House of Representatives, the Republicans retained a majority in the Senate. The weakness of the dollar against the backdrop of the Democratic Party victory reflects doubt that promotion, including further tax cuts, which have provided the dollar rally in the first half of the year, can be continued in the framework of a divided Congress.

 

AMarkets forex bonus

 

We share that position, according to which, the balance achieved between the ruling party and the opposition will lead to even greater success Trump policy. The fact that a divided Congress - is the basis for the compromise policy, when both parties will willingly make concessions to gain support in the implementation of legislative initiatives. President Donald Trump also described the election results as a victory for the current course of fiscal stimulus. Today the baton from the elections in the United States goes to the Fed meeting. At 22:00 GMT the US regulator will publish the decision on interest rates. Probability of revision tends to zero this month. However, traders initially more interested in comments on monetary policy.

 

USDJPY BuyLimit 113,40 TP 1 14,90 SL 112,90

 

In the oil market is still dominated by sellers. Brent crude oil remains near $ 72 a barrel, while retaining the potential to reduce the area of ​​$ 70 per barrel. It is noteworthy that during the trading session on Wednesday, buyers still attempted to drag the price above $ 73.5, however, all the enthusiasm was distraught after the US government report on crude oil inventories. According to published on Wednesday, according to the Energy Information Administration (EIA), oil reserves last week increased by 5.8 million. Barrels, reaching 432 million. Barrels, the highest since early June. Growth continues 7 consecutive week. In addition, oil production reached a record 11.6 million. Barrels per day versus 11.2 million. Barrels per day in the previous week. An additional factor in price declines were the results of midterm elections in the US Congress. Participants believe the market, that a split in Washington could force the administration to soften Trump's tough stance on countries such as Iran, while the democratic control of the House of Representatives will increase rules limiting the production of shale oil. Both scenarios can lead to the strengthening of the downward trend in the market of "black gold". Given the above, he recommended to hold short positions for Brent to test the psychological support of $ 70 per barrel.

 

UKOIL SellLimit 72,6 TP 70,50 SL 73,20

 

Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to torgovle.Avtor trader analyst Artem AMarkets Deev.

 

 

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