Market Brief /31-08-2017
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The EUR/USD pair has recorded lower tops and bottoms since Tuesday, confirming a bearish outlook. That momentum is reinforced by declining 20- and 50-period moving averages.
As long as 1.1940 holds, look for a new test of 1.1875 and even 1.1825. Alternatively, above 1.1940 we could see a continuous bullish trend and expect a high of 1.2010 and even 1.2650 in extension.
On the data slate there’s German Retail Sales; German Unemployment Rate; Euro-Zone Unemployment Rate; Euro-Zone CPI; US Challenger Job Cuts; US Personal Spending; US Core Personal Consumption Expenditure; US Personal Income; US Continuing Jobless Claims; US Initial Jobless Claims; US Chicago Purchasing Managers’ Index and US Pending Home Sales.
BUY EUR/USD @ 1.1925 OR BETTER – STOP @ 1.1870 – TARGET @ 1.2050
BUY GBP/USD @ 1.2905 OR BETTER – STOP @ 1.2860 – TARGET @ 1.3020
SELL USD/JPY @ 108.95 OR BETTER – STOP @ 109.40 – TARGET @ 108.10
BUY CL1017 @ 46.20 OR BETTER – STOP @ 46.10 – TARGET @ 47.00
BUY AUD/USD @ 0.7910 OR BETTER – STOP @ 0.7865 – TARGET @ 0.7980
BUY XAU @ 1312 OR BETTER – STOP @ 1302 – TARGET @ 1330
BUY XAG @ 17.20 OR BETTER – STOP @ 16.90 – TARGET @ 17.80
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NFP is just around the corner, come check out what i posted
Was checked and upvoted
Thanks for updating with market brief !!