Market Brief / 12-12-2017
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US dollar edged higher Monday, as investors geared up for the conclusion of the Federal Reserve’s meeting later this week. Some analysts believe the economy could get a boost if Republican lawmakers succeed in passing sweeping tax cuts in coming weeks, pushing the Fed to raise rates at a faster pace next year.
EUR/USD in its consolidation phase, could break out into the downside if strong message from the Federal Reserve suggests interest rates hike will move at a faster pace next year. Intraday preference remain bearish for the EUR/USD. Resistance is at 1.1830 and support is at 1.1760. Below 1.1760 look for further downside with 1.1710 as targets. Alternatively, above 1.1790 look for an upside to 1.1830.
On the data slate there’s UK Retail Price Index; UK House Price Index; UK PPI; UK CPI; German ZEW Survey; Euro-Zone ZEW Survey; US Business Optimism Index; US PPI; US Redbook Index; US 4-Week Bill Auction; US 30-Year Bond Auction; US Monthly Budget Statement; Euro-Zone ECB President Draghi’s Speech and US Weekly Crude Oil Stock.
SELL EUR/USD @ 1.1780 OR BETTER – STOP @ 1.1830 – TARGET @ 1.1680
SELL GBP/USD @ 1.3365 OR BETTER – STOP @ 1.3420 – TARGET @ 1.3265
BUY USD/JPY @ 113.30 OR BETTER – STOP @ 112.80 – TARGET @ 114.10
SELL CL0118 @ 58.40 OR BETTER – STOP @ 59.10 – TARGET @ 56.85
SELL AUD/USD @ 0.7530 OR BETTER – STOP @ 0.7580 – TARGET @ 0.7465
SELL XAU @ 1248 OR BETTER – STOP @ 1255 – TARGET @ 1235
SELL XAG @ 15.80 OR BETTER – STOP @ 16.30 – TARGET @ 15.30
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This post has received a 14.70 % upvote from @booster thanks to: @lordoftruth.
Great update all the market updates are here thank for it :)
now a days i only think about cryptos this looks like old economy haha