Market Brief / 25-09-2017

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EUR/USD pair retreated from 1.2005 (the high of September 22) and broke below its 20- and 50-period moving averages. In addition, the bearish cross between 20 and 50-period moving averages has been identified.

RSI is heading downward. To conclude, as long as 1.1960 holds on the upside, a further decline to 1.1890 and even 1.1860 seems more likely to occur. Alternatively, above 1.1960, expect a technical rebound with 1.1985 and even 1.2010 as targets.

On the data slate there’s German IFO Business Climate; UK FPC Statement; US Chicago Fed National Activity Index; US Fed’s William Dudley Speech; US Dallas Fed Manufacturing Business Index; Euro-Zone ECB President Draghi’s Speech and US Fed’s Evans Speech.

BUY EUR/USD @ 1.1930 OR BETTER – STOP @ 1.1880 – TARGET @ 1.2010
BUY GBP/USD @ 1.3515 OR BETTER – STOP @ 1.3480 – TARGET @ 1.3665
SELL USD/JPY @ 112.40 OR BETTER – STOP @ 112.80 – TARGET @ 111.20
BUY CL1117 @ 50.20 OR BETTER – STOP @ 49.70 – TARGET @ 51.00
BUY AUD/USD @ 0.7930 OR BETTER – STOP 0.7890 – TARGET @ 0.8010
BUY XAU @ 1295 OR BETTER – STOP @ 1287 – TARGET @ 1315
BUY XAG @ 16.80 OR BETTER – STOP @ 16.30 – TARGET @ 17.50

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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@lordoftruth