Market Brief / 18-10-2017
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USD strengthened further amid upbeat economic data and was also boosted by reports that US President Donald Trump may nominate Stanford economist John Taylor, who is seen by most as more hawkish than Janet Yellen, to head the Federal Reserve. ICE Dollar Index was up for a fourth day with a gain of 0.2% to 93.51 (day-high at 93.72).
EUR/USD pair posted a rebound and broke above its 20- and 50-period moving averages, the upward potential is likely to be limited at 1.1785. As long as 1.1785 is not surpassed, look for a return to 1.1740. A break below this level would trigger another drop to 1.1720 and even 1.1680 in extension.
On the data slate there’s Euro-Zone ECB President Draghi speaks in Frankfurt; UK Claimant Count Rate; UK Jobless Claims Change; UK Average Weekly earnings; UK Unemployment Rate; UK Employment Change; US Mortgage Applications; US Housing Starts; US Building Permits; US Crude Oil Inventories and US Federal Reserve Releases Beige Book.
SELL EUR/USD @ 1.1790 OR BETTER – STOP @ 1.1825 – TARGET @ 1.1720
SELL GBP/USD @ 1.3210 OR BETTER – STOP @ 1.3280 – TARGET @ 1.3100
BUY USD/JPY @ 112.00 OR BETTER – STOP @ 111.65 – TARGET @ 112.80
SELL CL1217 @ 52.10 OR BETTER – STOP @ 52.45 – TARGET @ 51.00
SELL AUD/USD @ 0.7860 OR BETTER – STOP @ 0.7920 – TARGET @ 0.7750
SELL XAU @ 1290 OR BETTER – STOP @ 1300 – TARGET @ 1275
SELL XAG @ 17.30 OR BETTER – STOP @ 17.80 – TARGET @ 16.65
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Great update for Forex trading .
thanks for sharing
100% like and resteem
Thank you so much @lordoftruth for continuing to publish this important information....upvoted
collected profits again yesterday Thankyou sir.
thanks for the update on Forex trading @lordoftruth
thanks for the update of Forex market news.
Thanks for update Forex market Brief @lordoftruth
Upvote/ Resteem
Yea bro great post
And forex is good.
Nice @lordoftruth
Thank for your article
Hey lord,
Your blogs are all over the #forex tag so just popping in to say hey. I've added you to my Steemvoter and given you a follow so keep up the great trading work. We've gotta keep this community running! :)
The trade I'm currently in is short NZD/USD:
Higher time frame resistance has held even after an excellent CPI print, so I'm looking to sell any short term rallies into areas like you see on the chart above.
What are your thoughts on the pair?
See you around mate!