Currency Analyst since 2010

April 13: trade ideas from FX BAZOOKA

Hello, dear traders!

The most important news so far:

  1. Russia and Saudi Arabia agreed on the oil production freeze regardless of what Iran does. As a result, oil rose to 4-month highs late on Tuesday.
  2. China released good trade data: exports recovered, the decline in imports slowed.

Coming soon:

  1. US inflation figures at 12:30 GMT (good forecast) – a reason for correction to the upside.
  2. The Bank of Canada’s decision on the interest rate at 14:00 GMT. The interest rate is expected to remain unchanged, though the central bank’s economic forecasts will be probably lifted.

Trade ideas:

USD/CHF: Buy TP 0.9640 (Because of the inverse correlation between EUR/USD and USD/CHF, this position is much like selling EUR/USD)

EUR/CAD: Sell Limit 1.4650, TP 1.4500, SL 1.4680

XAU/USD: Sell 1254.25, TP 1247.50, SL 1.1257.00

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