Market Brief / 12-09-2017

EUR/USD remains under pressure while being capped by the descending 20-period moving average, which stays below the 50-period one.

RSI is limited by a descending trend line, indicating downward momentum for the pair. As long as the intraday bearishness is maintained, the pair is expected to cross below the immediate support at 1.1945 and proceed toward the next support at 1.1910 (a price base seen in September 6-7). Only a break above the key resistance at 1.2000 would bring about a bullish reversal.

On the data slate there’s UK CPI; UK Retail Price Index; UK House Price Index; US Small Business Optimism; Euro-Zone ECB Vice President Constancio Speaks in Frankfurt and US Job Openings.

BUY EUR/USD @ 1.1940 OR BETTER – STOP @ 1.1880 – TARGET @ 1.2050
BUY GBP/USD @ 1.3150 OR BETTER – STOP @ 1.3100 – TARGET @ 1.3240
SELL USD/JPY @ 109.50 OR BETTER – STOP @ 110.00 – TARGET @ 108.75
BUY CL1017 @ 47.50 OR BETTER – STOP @ 47.00 – TARGET @ 48.30
BUY AUD/USD @ 0.8000 OR BETTER – STOP @ 0.7950 – TARGET @ 0.8070
BUY XAU @ 1322 OR BETTER – STOP @ 1317 – TARGET @ 1340
BUY XAG @ 17.90 OR BETTER – STOP @ 17.30 – TARGET @ 18.50

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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