Market Brief / 28-11-2017
Honoring Me With Your Up Vote...
US dollar showed signs of stabilization. Investors are awaiting for a confirmation hearing today for Federal Reserve chair nominee Jerome Powell, focus on also laid on a possible Senate vote on a US tax plan on Thursday at the soonest.
EUR/USD reversed to the downside after peaking at 1.1961 yesterday. Currently, it remains on the downside while trading at levels around the descending 20-period moving average.
RSI is yet to recover the neutrality level at 50, signalling continued downward momentum. The pair is expected to fall toward 1.1820. Key resistance is located at 1.1930, breaching would open a path toward 1.1960 on the upside.
On the data slate there’s German Consumer Confidence; US Advance Goods Trade Balance; US Wholesale Inventories; US Retail Inventories; US House Price Index; US Consumer Confidence Index; US Conference Board Present Situation; US Conference Board Expectations and US Richmond Fed Manufacturing Index.
SELL EUR/USD @ 1.1900 OR BETTER – STOP @ 1.1945 – TARGET @ 1.1820
SELL GBP/USD @ 1.3330 OR BETTER – STOP @ 1.3375 – TARGET @ 1.3250
BUY USD/JPY @ 111.20 OR BETTER – STOP @ 110.80 – TARGET @ 111.90
SELL CL1217 @ 58.00 OR BETTER – STOP @ 58.40 – TARGET @ 56.80
SELL AUD/USD @ 0.7610 OR BETTER – STOP @ 0.7660 – TARGET @ 0.7525
SELL XAU @ 1295 OR BETTER – STOP @ 1302 – TARGET @ 1280
SELL XAG @ 17.10 OR BETTER – STOP @ 17.50 – TARGET @ 16.50
What You Know About --> Fibonacci Retracement in Trending Market.
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Thanks @lordoftruth
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