Market Brief / 19-09-2017

EUR/USD key resistance is at 1.1965. Although the pair posted a rebound from 1.1920, the upside potential should be limited by the key resistance at 1.1965. The RSI is mixed.

To conclude, as long as 1.1965 is not surpassed, we are cautious with a down target at 1.1920. A break below this level would trigger another drop to 1.1880. Alternatively, only a break above 1.1965 would turn the outlook to positive and call for a new challenge with 1.1990 and 1.2050 as targets.

On the data slate there’s German ZEW Survey; Euro-Zone ZEW Survey; US Housing Starts; US Building Permits; US Import Price Index and US Export Price Index.

BUY EUR/USD @ 1.1935 OR BETTER – STOP @ 1.1880 – TARGET @ 1.2020
BUY GBP/USD @ 1.3500 OR BETTER – STOP @ 1.3465 – TARGET @ 1.3610
SELL USD/JPY @ 111.30 OR BETTER – STOP @ 111.80 – TARGET @ 110.70
BUY CL1017 @ 49.60 OR BETTER – STOP @ 49.10 – TARGET @ 50.50
BUY AUD/USD @ 0.7950 OR BETTER – STOP @ 0.7900 – TARGET @ 0.8030
BUY XAU @ 1305 OR BETTER – STOP @ 1298 – TARGET @ 1320
BUY XAG @ 17.00 OR BETTER – STOP @ 16.70 – TARGET @ 17.80

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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