Market Brief / 16-11-2017

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EUR/USD retreated from 1.1860. The bearish cross between 20- and 50-period moving averages has been identified.

RSI advocates for a further downside. So, as long as 1.1805 holds on the upside, look for a return with targets at 1.1760 and 1.1710 in extension. Alternatively, only a break above 1.1805 would trigger a rebound with 1.1830 and 1.1860 as targets.

On the data slate there’s UK Retail Sales; Euro-Zone CPI; US Initial Jobless Claims; US Continuing Claims; US Philadelphia Fed Business Outlook; UK BOE’s Carney, Broadbent, Cunliffe, Place, and Ramsden Speak; US Industrial production; US Capacity Utilization; US Manufacturing Production and US Housing market Index.

My Personal Trading Plan

SELL EUR/USD @ 1.1805 OR BETTER – STOP @ 1.185 – TARGET @ 1.1705
SELL GBP/USD @ 1.3180 OR BETTER – STOP @ 1.3235 – TARGET @ 1.3050
BUY USD/JPY @ 112.80 OR BETTER – STOP @ 112.30 – TARGET @ 113.90
SELL CL1217 @ 55.50 OR BETTER – STOP @ 55.90 – TARGET @ 54.10
SELL AUD/USD @ 0.7600 OR BETTER – STOP @ 0.7655 – TARGET @ 0.7510
SELL XAU @ 1282 OR BETTER – STOP @ 1287 – TARGET @ 1260
SELL XAG @ 17.00 OR BETTER – STOP @ 17.50 – TARGET @ 16.10

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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