Market Brief / 13-10-2017

EUR/USD intraday seems to be turning down. The technical outlook of the pair turned bearish as the prices broke below the rising trend line since October 6.

20-period moving average crossed below the 50-period moving average. RSI lacks upward momentum. To sum up, as long as 1.1880 is not surpassed, look for a new test to 1.1800 and even 1.1765 in extension.

Alternatively, only a break above 1.1880 would bring another advance with 1.1910 and 1.1950 as targets.

On the data slate there’s German CPI; US CPI; US Real Average Weekly Earnings; US Advance Retail Sales; US U. of Michigan Confidence; US Business Inventories and US Baker Hughes US Rig Count.

SELL EUR/USD @ 1.1840 OR BETTER – STOP @ 1.1885 – TARGET @ 1.1765
SELL GBP/USD @ 1.3270 OR BETTER – STOP @ 1.3310 – TARGET @ 1.3195
BUY USD/JPY @ 112.00 OR BETTER – STOP @ 111.65 – TARGET @ 112.80
SELL CL1117 @ 51.00 OR BETTER – STOP @ 51.50 – TARGET @ 50.00
SELL AUD/USD @ 0.7850 OR BETTER – STOP @ 0.7900 – TARGET @ 0.7750
SELL XAU @ 1296 OR BETTER – STOP @ 1302 – TARGET @ 1280
SELL XAG @ 17.30 OR BETTER – STOP @ 17.80 – TARGET @ 16.65

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.

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