EUR/USD Long For 1.1370, USD/JPY Long For 112.50

MyFXspot.com Trade Ideas

  • EUR/USD: long at 1.1260, take profit at 1.1370, stop-loss 1.1205
  • USD/JPY: long at 111.05, take profit at 112.50, stop-loss 110.30
  • AUD/USD: long at 0.7150, take profit at 0.7300, stop-loss 0.7075
  • EUR/JPY: long at 125.20, take profit at 128.00, stop-loss 124.00
  • AUD/JPY: long at 79.50, take profit at 81.50, stop-loss 78.50
  • XAU/USD: long at 1300.00, take profit at 1360.00, stop-loss 1270.00

Market Overview
Signs of economic stabilization in China and a strong start to U.S. corporate earnings season boosted demand for riskier assets, leaving the dollar to turn in its worst weekly performance against the euro in four weeks.
China's exports rebounded in March but imports shrank for a fourth straight month and at a sharper pace, painting a mixed picture of the economy as trade talks with the United States reach their endgame.
Investors are hoping for signs of economic recovery in China to temper worries about slowing global growth, after the IMF this week downgraded its 2019 world outlook for the third time.
China factory surveys for March had provided some glimmers of hope that demand was improving at home and abroad, suggesting government stimulus measures may be starting to take hold.
While export orders remained sluggish, there were signs that a long spell of contraction was easing even as trade talks with the United States appeared to be making progress.

Washington and Beijing have largely agreed on a mechanism to police any trade agreement they reach, including establishing new "enforcement offices," U.S. Treasury Secretary Steven Mnuchin said on Wednesday. However, a top White House official said on Monday the U.S. side is "not satisfied yet" about all the issues standing in the way of a deal to end the U.S.-China trade war.

 

Trade ideas

EUR/USD bull signals are increasing. The 55-day moving average and daily cloud base have been pierced while RSIs are rising. While bull signs grow the pair trades near the midpoint of the March-April decline. We stay long for 1.1370 target.

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