Free Trade Ideas

Welcome to Mid-Week Trade! The action has been mixed over the past 48 hours as the Iran War enters its fourth week. At this hour, there are reports that a deal may be in the offing between Iran and the United States. Subsequently, WTI and Brent crude have fallen as traders eagerly await the details.
It’s been an active week of announcements for US President Donald Trump. Over the weekend, Trump issued an ultimatum regarding strikes on Iran’s energy infrastructure if the Strait of Hormuz wasn’t opened in 48 hours. Before the Monday Wall Street open, Trump said a deal was in place, and the war would be resolved soon, rolling back the ultimatum. Risk assets reacted positively, posting a big bullish session.
Now, Trump is at it again. Here are the statements from Tuesday afternoon:
“They’re [Iran] going to make a deal. They did something Monday that was amazing, actually. They gave us a present. The present arrived today, and it was a very big present worth a tremendous amount of money.”
Trump didn’t disclose what the gift was, but stated that it was “oil and gas related,” connected to the Strait of Hormuz. Trump went on with the following:
“They can’t have certain things. It starts with no nuclear weapons, and they’ve agreed to that. They’re not going to have enrichment, any of those things; we are in about the best bargaining position. We’re way ahead of schedule.” This situation remains fluid; we’ll have the latest on tomorrow’s live stream (1:00 PM EST, Switch Markets on YouTube). Here’s a level worthy of note in the USD/JPY:
Weekly 38% Fibonacci Retracement, 156.98
Check out our Key Levels for more information on this Trade Idea.
Trade well, and we’ll see you at Wednesday’s Switch Markets Live Trading Webinar! https://youtu.be/UUOtQ8uSDUo