Market Brief / 11-10-2017

[lordoftruth]

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EUR/USD strengthened as official data showed that Germany’s exports increased 3.1% on month in August, the biggest growth in a year. EUR/USD advanced 0.6% to 1.1806 extending its rally to a third session.

In Spain, Catalan leader Carles Puigdemont delayed the announcement of independence in favour of dialogue with the Spanish government.

The pair recorded higher tops and higher bottoms since October 6, which confirmed a positive outlook. The upward momentum is further reinforced by both rising 20- and 50-period moving averages.

RSI lacks downward momentum. Hence, above 1.1785, look for a new challenge to 1.1825 and even to 1.1860 in extension. Alternatively, a break below 1.1785 would trigger a return with 1.1760 and 1.1710 as targets.

On the data slate there’s US Mortgage Applications; US Job Openings; US FOMC Meeting Minutes; US Fed’s William Gives Community Leaders Speech and UK House Price Balance.

SELL EUR/USD @ 1.1810 OR BETTER – STOP @ 1.1855 – TARGET @ 1.1710
SELL GBP/USD @ 1.3205 OR BETTER – STOP @ 1.3260 – TARGET @ 1.3075
BUY USD/JPY @ 112.60 OR BETTER – STOP @ 112.10 – TARGET @ 113.65
SELL CL1117 @ 51.00 OR BETTER – STOP @ 51.50 – TARGET @ 49.65
SELL AUD/USD @ 0.7790 OR BETTER – STOP @ 0.7840 – TARGET @ 0.7680
SELL XAU @ 1288 OR BETTER – STOP @ 1295 – TARGET @ 1272
SELL XAG @ 17.10 OR BETTER – STOP @ 17.60 – TARGET @ 16.20

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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Comments

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[goldcoin]

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[jehanzeb4u]

Glad to see Euro rising back again in international market. Not so long ago I had to face some loss due to rapid decrease in Euro. Looks like things are getting back to normal.
Anyway thanks for the info.

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[theguruasia]

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