Market Brief / 31-10-2017

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EUR/USD posted a rebound from 1.1570. The bullish cross between 20- and 50-period moving averages has been identified, indicating the positive signal.

RSI advocates for a further upside. Therefore, above 1.1600, look for a rebound with targets at 1.1675 and 1.1710 in extension. Alternatively, a break below 1.1600 would trigger another drop with 1.1570 and 1.1510 as targets.

On the data slate there’s Switzerland SNB Releases 3Q 2017 Currency Allocation; Euro-Zone Unemployment Rate; Euro-Zone GDP; Euro-Zone CPI; US Employment Cost Index; US Home Price Index; US Chicago Purchasing Manager; US Consumer Confidence Index and US Conference Board Present Situation.

My Personal Trading Plan

SELL EUR/USD @ 1.1655 OR BETTER – STOP @ 1.1710 – TARGET @ 1.1510
SELL GBP/USD @ 1.3190 OR BETTER – STOP @ 1.3230 – TARGET @ 1.3100
BUY USD/JPY @ 112.80 OR BETTER – STOP @ 112.50 – TARGET @ 113.75
SELL CL1217 @ 54.00 OR BETTER – STOP @ 54.40 – TARGET @ 53.00
SELL AUD/USD @ 0.7670 OR BETTER – STOP @ 0.7725 – TARGET @ 0.7580
SELL XAU @ 1278 OR BETTER – STOP @ 1285 – TARGET @ 1258
SELL XAG @ 16.85 OR BETTER – STOP @ 17.30 – TARGET @ 16.10

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.