Today at 14:30 (CET) we expect the release of two US economic indicators: Core Durable Goods Orders m/m and Unemployment Claims over the past week. The first indicator has long-term impact on the market. It is released monthly by the US Census Bureau. It does not include transportation items: orders for cars and airplanes. Change in the total value of new purchase orders placed with manufacturers for durable goods allows evaluating the outlook for production development and the attraction of long-term investment. The second indicator, Unemployment Claims, is based on the weekly data and shows the local labor market conditions. The data is published in a weekly report by the Department of Labor. The index allows estimating the domestic demand dynamics and the consumer loan potential for the US economy stimulus. In our opinion, the greatest volatility is expected today from the US currency relative to other liquid instruments.
After position opening, Stop Loss is to be moved after the Parabolic values, near the next fractal low. Updating is enough to be done every day after a new Bill Williams fractal formation (5 candlesticks). Thus, we are changing the probable profit/loss ratio to the breakeven point.
- Position Buy
- Buy stop above 0.97183
- Stop loss below 0.95637
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