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Saying “goodbye” to 2018 – What we did in 2018 ?

Saying “goodbye” to 2018 – What we did in 2018?

Leading Players:

  • Trade wars
  • The slowdown in global economies
  • FED policies
  • Brexit
  • Italy’s budget

2018 stands out as a year of increasing volatility.

Unlike the previous years, the traditional Santa rally was not “so fast” this year.

If we look briefly at “this year’s most”s from our window:

  • We catch the decline from 12.000 to 10.400 in DAX30 triggered by the trade wars and the slowing German economy. We think it is early to buy and DAX is still not attractive to us. We have shared our main trade plan last week.
  • We sold EURUSD at 1.22500 targeting 1.12400. We put our reasons clear: Diverging CB Monetary Policies, the slowing European economy and political uncertainties.
  • XAUUSD: We sold Gold at 1.312 targeting 1180 and 1080. Yes, we hit our first target. But we were anticipating the prices to drop more and test 1100-1080. We were wrong at the second target.
  • The same error occurred in Crude Oil as well. We entered Long at 57 $. Our targets were 75 $ and 82 $. Although the prices have reached our first target,  we left the long game without reaching the second target.
  • Despite the demand for safe haven, we preferred to remain on the long side in USDJPY due to the diverging central bank policies. We reached our target of 114.000.
  • USDCAD: We talked about the fact that although the BOC is one of the few central banks to raise interest rates this year, the rise in the Canadian dollar could not continue. The Central Bank of Canada softened its rhetoric after the peak housing sector and falling oil prices. We have reached our target at 1.35000.
  • We caught the big fall in NZDUSD. Declining demand from China continued to hit commodity-linked currencies. Comparing the most hawkish and most dovish central banks, our short trade in NZDUSD reached the target at 0.64400 which we entered at 0.68000.

Looking Ahead:

  • USD is still attractive and the indices are not.
  • GBP and Gold will be in our focus.
  • Palladium is still very attractive for the investors.
  • Some agricultural commodities may rally in 2019.

Some of the Instruments we will focus on :

GBPJPY, GBPNZD, XAUUSD, GBPUSD, GBPAUD, EURUSD, EURGBP, USDJPY,NZDUSD,AUDUSD, PALLADIUM, AUDJPY, NZDJPY,CRUDE OIL, S&P500, DAX30, CAD Futures – H1 19 -, WHEAT, COPPER. And we have some Stocks that we plan to buy but not before Q2 19.

We wish you a happy new year.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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