Main Trade Ideas on Commodity and Foreign Exchange Markets for 30.08.2018

EURUSD

There was many economic releases in Europe and USA on the yesterday trading session. Even though the volatility on the major pairs was high, we also expect the range extension today because of Jerome Powell speech at 14:00 GMT.
Considering EURUSD pair dynamic. Our take profit was activated on Wednesday at 1.16 as expected, but the pair didn’t rise to 1.1750 and turned around earlier from 1.1620. There is a rising of the EURUSD for 25 points now. We recommend not to trade before Fed’s Powell speech or wait until the pair test 1.1750 level.
Our idea in eurusd – is selling from 1.1750 level.

GOLD (XAUUSD)

Gold price is still quiet predictable because of long-term bearish trend. However, our expectations considering bullish correction to 1210$ level were too optimistic. The US Dollar showed strong dynamic against gold and major currencies yesterday. The gold price fell for 10$ to 1185$ level.
The Cayman indicator is still in overbought zone and daily candles show bearish formations. That is why we don’t expect a huge bullish correction if the US dollar resume falling after Powell speech today. So, our idea is selling from 1200-1210 levels.

So, Our targets for:

EURUSD – is selling from 1.1750 level
GOLD – is selling from 1200-1210$ levels