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’s two largest economies and has faced most volatility since the inception of the euro in 1999.
FOREX Market Insights
Yesterday, the investors have high uncertainty from the news of an impeachment inquiry into US President Donald Trump that leads the stocks markets quite without any significant variation. The Gold and crude oil markets were sleepy.
Today in Focus
Today, the focus is on a series of high impact economic events and published indicators:
AT 12H30 GMT: Durable Goods Orders, released by the US Census Bureau, measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances.
AT 14H00 GMT: The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money.
GRAPHIC 1: EURUSD DAILY CHART (SEPTEMBER 27, 2019)
At long term, the EURUSD followed a bearish volatile movement inside the colored channel
it is profitable to sell the EURUSD pair:
1 The chart is close to the top of the channel.
2 The Stock RSI indicator is higher than 80 and the red line cross the blue line.
3 The EURUSD chart crosses MA14 and close to the downside.
GRAPHIC 2: EURUSD HOURLY CHART (SEPTEMBER 27, 2019)
At short term, the EURUSD follows a new trending volatile movement inside the colored channel.
The events in focus, especially the US Durable Goods Orders could leads to a breakout or pullback,
so just follow the trend and takes advantage from the event.
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