Welcome, to another daily Forex market breakdown. In today’s live trading session, we went over the analysis and profits made for our EURAUD, USDCHF and CADCHF trades. We also spoke about today’s CPI numbers for the US Economy and what it may suggest about the Federal Rate decision. The session was concluded with a lesson on When To Exit a Trade.
Yesterday, we did an in-depth trade analysis on CADCHF and USDCHF and determined a bullish bias on the these 2 currency pairs. Both trades are currently in small profits, and we can expect further upside, We have to take note of the fundamental news that will be releasing later today in the London session, as the Swiss National Bank will be doing a Monetary Policy Assessment at 4:30 AM EST. Ideally, we would like to be out of both trades by the end of the Australian session. As always, we will provide updates about these trades on Telegram during that time.
This morning the Consumer Price Index which is a major indicator for inflation came out at 0.3% vs. the 0.2% expectation for the US Economy. This is favorable news for the US Dollar, as the United States was able to add 266,000 additional jobs in the month of November. We have the Federal Rate decision and Conference later today starting at 3:00 PM EST. With the recent job growth, drop in unemployment to a 50-year low and positive CPI data, we have a bullish sentiment on the rate decision. Powell will most likely speak about these recent positive developments for the economy, and that maybe the catalyst for a bullish US Dollar.
Our XAUUSD trade from yesterday was an example of How To Know When To Exit a Trade. This lesson will be available on our Instagram as well as our YouTube. As a reminder for tomorrow, we have the ECB Rate Decision as well as the UK Elections, so please trade with caution. We will discuss all of the fundamental news events with you all in tomorrow’s live session As always be safe traders and trade responsibly!
Check Out Yesterday’s Live Session Recap: December 10th, 2019
