By - Jamel Lahiani
Today our analysis will be concerned with:
The EURUSD is the most traded currency pair in the world. This pair represents the world two largest
economies and has faced most volatility since the inception of the euro in 1999.
FOREX Market Insights
Yesterday, the US stock finished quite without any distinguished variation due to the lack of stimulus. The petrol and the Gold prices fall slowly.
Today, the focus is on a series of medium impact economic events and published indicators:
AT 12H30 GMT: The US Producer Price Index ex Food & energy released by the Bureau of Labor statistics.
At 14H00 GMT: The US EIA Crude Oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivate, and it’s released by the Energy Information Administration.
At 17H00 GMT: the average yield on the notes auctioned by US Department of Treasury.
GRAPHIC 1: EURUSD DAILY CHART (SEPTEMBER 11, 2019)
At long term, the EURUSD pair is bearish inside a channel, the MA14 is decreasing and the charts are
downing MA14. The US Dollar is stronger than the Euro. It is interesting to sell this pair at the top of
the colored channel or when the candle crosses MA14 in blue color to the downside.
GRAPHIC 2: EURUSD HOURLY CHART (SEPTEMBER 11, 2019)
At short term, the EURUSD pair follows a ranging movement inside the colored channel. The market is quite without significant information. It is interesting to sell at the top of the channel and buy at the bottom or to sell when the Stock RSI indicator is higher than 80 and to buy when this indicator is lower than 20 and the red line cross the blue line.
Follow us on Twitter @aprecon
Follow on Instagram @_aprecon
Like our Page on FB @aprecon
Copyright © The African Progressive Economist 2019. All Rights Reserved.