Trading plan 05/02/2018

The picture: Today, the focus is on the Fed.

On Wednesday, there will be important news for the United States.

The Fed at 18.00 London time.

The rate will not be increased but the text of the statement will be "hawkish."

Report on employment for April at 12:15 London time.

The dollar is ready to continue strengthening, but it would be logical to see a big correction first.

Trump extended until June 1 the decision either to raise or not the duties of steel and aluminum for the US allies including Europe, Canada, and Mexico.

The delegation of the USA headed by Ministry of Finance, Steven Mnuchin, was left for China to trade on the issue of new duties against China, declared by Trump.

Data on the US industry for April came out with a slowdown in growth but remains strong.

The pound broke through the key support at 1.3700 and showed a reversal down.

We are waiting for a strong upward rebound towards the level of 1.3870 and sell with the target of 1.3700.