Trading Plan for 11/27/2018

At first, yesterday, everything happened strictly according to the "Monday vs. Friday" scenario, and the dollar was confidently losing ground. Moreover, there were quite optimistic news from Italy, whose government allegedly agreed to amend the budget and reduce its deficit to the maximum set by the rules of the European Union. But in the afternoon, the picture changed dramatically, and the pound with the single European currency began to lose ground again. This time, Mario Draghi, who spoke at the European Parliament, was responsible for the celebration. In essence, the head of the European Central Bank reiterated the risks of a slowdown in economic growth, as well as an increase in risks associated with the protectionist policies of Donald Trump. Of course, he talked about this before, but lately more and more often. And the closer the date of the meeting of the Board of the European Central Bank, after which the program of quantitative easing should be curtailed, the more insistent Mario Draghi reminds everyone of the risks and problems. True, diligently bypassing the issue of government debt of the euro area countries. And it is obvious that many perceive this as an indication that the head of the ECB is tritely preparing the ground for the next extension of the quantitative easing program. And the question of Italy in the evening was quite a strange one since the meeting of the government was over, but no information about it was disclosed. There are only rumors and speculation that investors are fed three times a day.

Today, like yesterday, the macroeconomic calendar is almost empty. Yes, and with the speeches of various officials somewhat sadder. It is hoped that at least some details will be known regarding yesterday's meeting of the Italian government. Given that the Italians are clearly not going to pay a fine of one and a half billion euros for violating the rules of the European Union and some kind of compromise is needed, and also that the ECB is likely to prolong the program of quantitative easing, we should expect relatively positive news. But even without this, the dollar has few reasons for growth, as today's S & P / Case-Shiller data may show a slowdown in house price growth from 5.5% to 5.3%. Although the data are not so significant, they still do not add optimism.

The euro/dollar currency pair, after a rollback, once again restored the descending move, returning to the local imaginary 1.1325. Probably assume stagnation near this value, in the case of a breakthrough, we see a move to the main range level of 1.1300.

The currency pair pound/dollar field of time bump and rollback restored the downward move, returning the quotation to the range level of 1.2770. Probably assume fluctuations in the range of 1.2750 / 1.2790, tracking the mood of the market.