Good morning traders, I hope you all enjoyed your weekend. Let’s have a look at the trade war updates and the economic calendar first. Then below we have the video from the morning briefing. This video looks at a bullish outlook. We also review Friday and use the various swing trading tools in the price action.

China vs US Trade War Update

There is further proof that China is no closer to any talks/negotiations between the two than. Former PBOC adviser says that a US-China currency war is unlikely. “If there is going to be a spillover from a trade war, a currency war surely ranks at the top of the list”. Wang Changlin, a researcher with the National Development and Reform Commission (NRDC) argues that the costs of the tariffs will be split and will end up hurting US purchasers as well, thus cushioning the blow that will be seen by the many industries affected. Strategists at Bank of America Merrill Lynch are reported to say that China may add services such as education, travel, intellectual property charges and transportation to its retaliation package if the US goes ahead with the additional $100 bn tariff on imports from China. The USDA reported that 458,000 tonnes of US soybeans were sold to undisclosed destinations. A temporary kink in the trade alignment as Chinese producers move away from US to Brazil and European producers move away from Brazil to the US.

Economic Calendar

2018-04-09_1003

09-04-2018 Dax Morning Briefing & Market Outlook

We have gapped through a upper median line parallel suggesting bullish momentum. Have a look through the second half of this video to see the thinking for longs.

09-04-2018 Dax Charts

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