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The EUR/USD pair posted a rebound and broke above the 20- and 50-period moving averages.
The RSI lacks downward momentum. The key support at 1.1180 should limit the downside potential.
Hence, as long as this key level is not broken, a further rise to 1.1250 and even 1.1305 seems more likely to occur.
Alternatively, below 1.1180, expect a new downside with 1.1150 and 1.1120 as targets.
On the data slate there’s German CPI; UK Claimant Count Rate; UK Jobless Claims Change; UK Average Weekly earnings; UK Unemployment rate; UK Employment Change; Euro-Zone Industrial Production; US Mortgage Applications; US CPI; US Advance Retail Sales; US Business Inventories; US Crude Oil Inventories and US FOMC Rate Decision.
BUY EUR/USD @ 1.1200 OR BETTER – STOP @ 1.1150 – TARGET @ 1.1300 – no change
BUY GBP/USD@ 1.2750 OR BETTER – STOP @1.2700 – TARGET @ 1.2875
SELL USD/JPY @ 110.00 OR BETTER – STOP @ 110.50 – TARGET @ 109.00 – no change
BUY CL0717 @ 46.00 OR BETTER – STOP @ 45.20 – TARGET @ 48.00 – no change
BUY AUD/USD @ 0.7520 OR BETTER – STOP @0.7470 – TARGET @ 0.7600 – no change
BUY XAU @ 1265 OR BETTER – STOP @ 1258 – TARGET @ 1288 – no change
BUY XAG @ 17.00 OR BETTER – STOP @ 16.50 – TARGET @ 17.90 – no change
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 AND IT IS NOT FOR EVERYONE.
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