April 13: trade ideas from FX BAZOOKA
Hello, dear traders!
The most important news so far:
- 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.
- China released good trade data: exports recovered, the decline in imports slowed.
- US inflation figures at 12:30 GMT (good forecast) – a reason for correction to the upside.
- 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.
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