The dollar opened 2019 with a move lower, losing ground versus majors across the board as investors step into the JPY on US growth concerns and the unclear path for the US dollar coming into play. Asian markets opened 2019 with a move lower and US futures are pointing lower ahead of the first trading day in 2019. Weak Chinese manufacturing data and lack of positive sentiment will start of 2019 on a weak note. Metals are trading mostly higher on a weaker dollar and Oil will be in play possible for another leg down as growth fears and US record shell  production are likely to pressure prices lower despite OPEC proposed production cuts.

There is no important news on the agenda Wednesday and some markets will stay closed for the NEW YEAR HOLIDAY, (CHF, JPY).

 

Market GBPUSD USDJPY EURJPY EURUSD GOLD OIL
2.1.19 0.02% -0.46%    -0.24% 0.22% 0.52% -1.28%
USDMXN USDCHF AUDUSD AUDJPY USDCAD SILVER NAT GAS
-0.08% -0.08% -0.31% -0.75% -0.38% -0.3% 1.84%
Dollar Index DAX FTSE100 CAC40 EURSXX50 NIKKEI CSI300
 -0.25% –% -0.09% 1.1% 0.5% –% -1.4%
1 YEAR -18.26% -12.48% -10.95% -14.34% -12.08% -26.36%

 

 

Swing trades follow up  

Trade Entry price Position Open profit Date triggered Stop loss Remarks today
USDCAD 3512 0.7 390 21/12 3590 Stopped out
GBPUSD 2756 0.7 20 2/1 2720 New position
NASDAQ 6348 8 -660 28/12 6200  
             
OPEN PROFIT     $-640      

 

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