Trading plan for December 11-15, 2017
The picture: Two important news - the Fed and the ECB. And the end of the year.
The last full week before Christmas and New Year starts.
And there are two major events - the Fed and the ECB.
The Fed will not surprise the public: Inflation in the US is below the lower limit of the attention of the Fed (that is below 2%), in addition, the dollar is strong, and the Fed's leadership will change in the coming months. There is no reason to surprise the public - expect to raise the rate by + 0.25% and will raise further - but very gradually. The Fed will meet on on December 13th.
But the decision of the ECB on December 14 may bring surprises - in favor of the euro.
Play breakthrough euro short-term range: buy on the breakdown of 1.1815, sell on breakdown of 1.1728
GBPUSD:
Slowly and painfully - but upward.
Buy from 1.3415 with the target of 1.3550.
