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EUR/USD retreated to the session low at 1.2193, it rebounded to 1.2271 after the speech from ECB official Francois Villeroy de Galhau, and broke above its 20-and 50-period moving averages.
RSI is bullish, look for a new challenge to 1.2390. Alternatively, only a break below 1.2240 would trigger a return with 1.2150 as target.
On the data slate there’s German 30-Year Bond Auction; Euro-Zone CPI; UK MPC Member Saunders Speech; US Mortgage Applications; US Redbook Index; US Industrial Production; US Capacity Utilization; US Housing Market Index; US Total Net TIC Flows; US FOMC Member Mester Speech and US Weekly Crude Oil Stock.
My Personal Trading Plan
SELL EUR/USD @ 1.2295 OR BETTER – STOP @ 1.2350 – TARGET @ 1.2150
SELL GBP/USD @ 1.3810 OR BETTER – STOP @ 1.3870 – TARGET @ 1.3700
BUY USD/JPY @ 110.50 OR BETTER – STOP @ 110.10 – TARGET @ 111.50
SELL CL0318 @ 63.80 OR BETTER – STOP @ 64.20 – TARGET @ 63.00
SELL AUD/USD @ 0.7990 OR BETTER – STOP @ 0.8030 – TARGET @ 0.7865
SELL XAU @ 1345 OR BETTER – STOP @ 1352 – TARGET @ 1330
SELL XAG @ 17.30 OR BETTER – STOP @ 17.70 – TARGET @ 16.60
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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