Daily Alert: Tuesday 28th August 2018

Mark NugentAug 2018, Daily Alert

Daily Alert: Tuesday 28th August 2018

Updated trading plan is here – https://goo.gl/GRAa7E

The S&P500 and Nasdaq hit new all-time highs. The USD is talked down by both Trump and Powell last Friday and into this week. The FTSE100 and FTSE250 gap up at the open, playing catch-up with global equities after yesterday’s UK holiday. The EUR continues to rise as it has been doing for almost two weeks. The GBP is moving sideways on relentless talk of a no-deal Brexit and PM May’s Trade Mission to Africa. The JPY shows some weakness.

I remain in my Euro50 long (since 15th August), now sitting at a gain of 5-6 x risk at current pricing.

This week’s economic calendar is sparse.

I will be looking at equity pullbacks as long signals. In forex, I’ll be keeping an eye on weak USD and strong EUR, but I’ll be cautious as there are no great technical setups, which does not preclude trading, but does make it riskier.

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