Market Brief / 13-09-2017

lordoftruth (71)in #forex • 9 years ago

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EUR/USD key resistance is at 1.1980. Despite the pair posted a rebound from 1.1925 (the low of Sept., 12), the upward potential is likely to be limited by the resistance at 1.1980.

RSI lacks upward momentum. Therefore, as long as 1.1980 is not surpassed, a return to 1.1945 and even 1.1925 seems more likely to occur. Alternatively, only a break above 1.1980 would turn the outlook to bullish and call for a further upside with 1.2020 and 1.2065 as targets.

On the data slate there’s German Wholesale Price Index; German CPI; Euro-Zone Employment; Switzerland Producer & Import Prices; UK Claimant Count Rate; UK Jobless Claims Change; UK Average Weekly Earnings; UK Unemployment Rate; UK Employment Change; Euro-Zone Industrial Production; US PPI Final Demand; US Crude Oil Inventories; US Monthly Budget Statement and UK House Price Balance.

BUY EUR/USD @ 1.1940 OR BETTER – STOP @ 1.1880 – TARGET @ 1.2065
BUY GBP/USD @ 1.3250 OR BETTER – STOP @ 1.3195 – TARGET @ 1.3365
SELL USD/JPY @ 110.30 OR BETTER – STOP @ 110.75 – TARGET @ 109.50
BUY CL1017 @ 48.00 OR BETTER – STOP @ 47.50 – TARGET @ 49.10
BUY AUD/USD @ 0.8000 OR BETTER – STOP @ 0.7950 – TARGET @ 0.8070
BUY XAU @ 1327 OR BETTER – STOP @ 1320 – TARGET @ 1343
BUY XAG @ 17.90 OR BETTER – STOP @ 17.30 – TARGET @ 18.50

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.