Market Brief / 20 - 02 - 2018

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US dollar got another chance to catch its breath while forex trading volume were thinner on the Presidents’ Day, yesterday. Investors await minutes of the US Federal Reserve’s last policy meeting on wednesday.

EUR/USD remains capped by the 50-period moving average. Currently it is trading around the 20-period moving average, which stands below the 50-period one.

RSI is yet to recover the neutrality level of 50, indicating a lack of upward momentum. As long as the key resistance at 1.2435 is not surpassed, intraday bearishness persists and the pair should return to 1.2370. Alternatively, breaking above 1.2435 would open a path toward 1.2490 on the upside.

On the data slate there’s German PPI; German ZEW Survey; Euro-Zone ZEW Survey and Euro-Zone Consumer Confidence.

My Personal Trading Plan
BUY EUR/USD @ 1.2385 OR BETTER – STOP @ 1.2330 – TARGET @ 1.2510
BUY GBP/USD @ 1.3965 OR BETTER – STOP @1.3910 – TARGET @ 1.4085
SELL USD/JPY @ 106.50 OR BETTER – STOP @ 107.10 – TARGET @ 105.65
BUY CL0418 @ 62.00 OR BETTER – STOP @ 61.65 – TARGET @ 63.20
BUY AUD/USD @ 0.7900 OR BETTER – STOP @ 0.7865 – TARGET @ 0.8005
BUY XAU @ 1340 OR BETTER – STOP @ 1332 – TARGET @ 1365
BUY XAG @ 16.40 OR BETTER – STOP @ 16.00 – TARGET @ 17.00

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD NOT TAKE ANY MATERIAL POSTED AS RECOMMENDATION.

If You are New in Forex  --> Read Forex Education Center / Volume I.