Market Brief / 20-09-2017

EUR/USD pair broke above the declining trend line since September 19. The upward momentum is further reinforced by both rising 20- and 50-period moving averages.

RSI is bullish and calls for another rise. To sum up, as long as 1.1960 is not broken, look for a new challenge with targets at 1.2010 and 1.2065 in extension. Alternatively, a break below 1.1960 would trigger a pullback with 1.1950 and 1.1910 as targets.

On the data slate there’s German PPI; UK Retail Sales; US Mortgage Applications; US Existing Home Sales; US Crude Oil Inventories and US FOMC Rate Decision.

BUY EUR/USD @ 1.1990 OR BETTER – STOP @ 1.1930 – TARGET @ 1.2065
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 @ 50.00 OR BETTER – STOP @ 49.50 – TARGET @ 50.80
BUY AUD/USD @ 0.8000 OR BETTER – STOP @ 0.7950 – TARGET @ 0.8075
BUY XAU @ 1310 OR BETTER – STOP @ 1302 – TARGET @ 1325
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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