The dollar traded mostly lower following the expected results of the US midterm elections, that’s ahead of the FOMC Statement tonight. Most FX markets traded in very narrow ranges and investors put their money to work in other markets, cautious before the FED meeting tonight. Global equity markets rallied following the outcome of US elections, led by technology stocks, as global markets seem to brush of again the trade war issues and the rising US interest rates. Metals traded mostly sideways in narrow ranges while Oil traded lower for the seventh day in a row following record US production that outweighs OPEC production cuts and expectations for record production in 2019. Oil closed at 72$ per barrel, down 20% from 2017 highs, 86$ per barrel, basically trading in bear market territory.

The US FOMC Statement is the important news on the agenda Thursday.

 

Market GBPUSD USDJPY EURJPY EURUSD GOLD OIL
7.11.18 0.29% 0.05%  0.2% 0.13% 0.07% -0.9%
USDMXN USDCHF AUDUSD AUDJPY USDCAD Silver Platinum
0.78% -0.11% 0.46% 0.51% -0.12% 0.41% 0.09%
Dollar Index DAX FTSE100 CAC40 EURSXX50 NIKKEI CSI300
-0.29% 0.83% 1.09% 1.24% 1.21% 1.48% -0.29%
1 YEAR -13.48% -5.48% -6.1% -11.19% -1.86% -19.87%

 

 

Swing trades follow up 

Trade Entry price Position Open profit Date triggered Stop loss Remarks today
DAX 11215 4 2000 25/10 11500 SL changed
NASDAQ 6927 6 1625 6/11 7125 SL changed
             
OPEN PROFIT     $3625      

 

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