Trading plan 11/22/2017
The general picture: We are waiting for important news from the US at 12:30 PM London Time
The beginning of the week passed under the sign of an unexpected political crisis in Germany.
It should be noted that on Sunday the German Chancellor Angela Merkel was forced to publicly admit that she could not agree with other parties to form the ruling majority in the parliament. While Merkel's Party (CDU) won the most votes in the September elections, it was less than half of the votes. Prior to the elections in Germany, the rules of the "Great Coalition", which included the Merkel's party and the second party on the vote - the Social Democrats SPD. But in these elections the SPD was declared that it was moving to the opposition. The situation was AfD - Alternative for Germany - an alliance with it is unacceptable for Merkel.
The Free Democrats remained, and Merkel could not agree with her on the contentious immigration issue.
Thus, the situation where it will not be possible to form a political crisis.
However, Merkel is firmly stated on Tuesday that she will rule in a minority government.
This reassured investors.
Germany's economy is in better shape since 2011, with unemployment at the lowest levels in several years (5.6%) - and for the EU it is about 10%. Thus, the tradition can be considered completed.
Today at 12:30 pm London time - important news on the US - orders for durable goods.
Late in the evening - the Fed's "minutes" - a report from the Fed's last meeting will be released. I see no reason for strong movement.
It should be noted that the US on Thursday is a Thanksgiving holiday.
For GBPUSD:
Trade out of the range:
Buy above 1.3335.
Sell below 1.3025.
