By - Jamel Lahiani
The XAUUSD is trending bullish volatile at long term.
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.
WTI: the pricing crude oil of the United States’ WTI (West Texas Intermediate).
XAUUSD: the price above is Gold quoted in US Dollars.
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 by respectively: -1.18% and -1.15%.
Today in Focus
Today, the focus is on a series of high impact economic events and published indicators:
AT 12H30 GMT:
The Retail Sales ex Autos released by the US Census Bureau
The “retail sales control group”, published by US Census Bureau
The retail Sales released by the US Census Bureau
At 14H00 GMT: The Michigan Consumer Sentiment Index released by the University of Michigan
GRAPHIC 1: EURUSD HOURLY CHART (SEPTEMBER 13, 2019)
Yesterday, the US Dollar depreciates against the Euro. The EURUSD pair is bullish inside the colored
Channel at short term. If after the publication of the events in FOCUS today, we have a break of the
channel, we can Consider a potential trending movement. If the break is in the top then we have a
bullish movement. If the break in the bottom we have a bearish movement.
GRAPHIC 2: XAUUSD “GOLD” WEEKLY CHART (SEPTEMBER 13, 2019)
The XAU “Gold” is trending bullish inside the colored channel at long term. The market is volatile, so
It is interesting to sell when the pair is close to the top of the channel and buy when the pair is close
to the bottom. It is also interesting 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.
GRAPHIC 3: WTI PETROL WEEKLY CHART (SEPTEMBER 13, 2019)
The WTI crude oil (West Texas Intermediate) price follows a ranging movement inside the colored
Channel at long term between tow limits 70.02$ and 47.85$. It is interesting to sell when the pair is
close to the top of the channel and buy when the pair is close to the bottom. It is also interesting 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.
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