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EUR/USD pair remains on the downside while scaling the lower Bollinger band, calling for acceleration to the downside.
RSI has fallen, indicating continued downward momentum for the year. In case the pair breaks 1.1810 on the downside, it should target 1.1780. Only a break above the key resistance at 1.1880 would bring about a bullish reversal.
Oanda’s Stephen Innes thinks further buying will be capped as not many in the market have the inclination to carry an open position into the holidays given the risk of the Catalonian election result blowing up into a crisis.
On the data slate there’s German Consumer Confidence; Switzerland Leading Indicator; UK GDP; UK Total Business Investment; US Personal Income; US Personal Spending; US Durable Goods; US New Home Sales; US U. of Michigan Sentiment; US Kansas City Fed manufacturing Activity and US Baker Hughes US Rig Count.
SELL EUR/USD @ 1.1850 OR BETTER – STOP @ 1.1905 – TARGET @ 1.1780
SELL GBP/USD @ 1.3375 OR BETTER – STOP @ 1.3440 – TARGET @ 1.3275
BUY USD/JPY @ 113.10 OR BETTER – STOP @ 112.60 – TARGET @ 113.80
SELL CL0218 @ 58.10 OR BETTER – STOP @ 58.70 – TARGET @ 57.00
SELL AUD/USD @ 0.7720 OR BETTER – STOP @ 0.7760 – TARGET @ 0.7630
SELL XAU @ 1269 OR BETTER – STOP @ 1275 – TARGET @ 1250
SELL XAG @ 16.15 OR BETTER – STOP @ 16.60 – TARGET @ 15.30
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