By - Jamel Lahiani
Today our analysis will be concerned with:
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.
GBPUSD is the British Pound against the US Dollar is one of the oldest currency pairings in the world. It is often called the Cable connecting US to Great Britain and it was used to transmit currency prices between the two economies.
WTI: the pricing crude oil of the United States’ WTI (West Texas Intermediate).
FOREX Market Insights
Yesterday, the stocks markets are quite with low variations, the WTI crude oil price falls by -1.79% and the Gold market decline by -0.81%. The US dollar was appreciated against the US dollar explained by a good result of the US building sector.
Today in Focus
Today, the focus is on a series of high impact economic events and published indicators:
AT 10H00 GMT:
The UK Asset Purchase Facility is the value of money the BoE plans to create and inject into the economy through open market bond purchases as a way to influence long-term interest rates.
The UK BoE Interest Rate Decision is announced by the Bank of England.
The UK Interest rates are set by the Bank’s Monetary Policy Committee.
AT 12H30 GMT: The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.
AT 14H00 GMT: The Existing Home Sales, released by the National Association of Realtors provide an estimated value of housing market conditions.
GRAPHIC 1: EURUSD HOURLY CHART (SEPTEMBER 19, 2019)
Yesterday, the US Dollar followed a ranging movement inside the colored channel. It was the result
of the US intervention to establish the market equilibrium using the US strategic reserve of crude oil.
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 2: GBPUSD HOURLY CHART (SEPTEMBER 19, 2019)
The GBPUSD is ranging inside the colored channel at short 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. A breakout could be considered at the publication of the events in focus and just follow
GRAPHIC 3: WTI CRUDE OIL HOURLY CHART (SEPTEMBER 19, 2019)
The WTI crude oil (West Texas Intermediate) price follows a ranging movement at short Term. It is
interesting to sell when the pair is close to the top of the channel 59.45 $ and buy when the pair is
close to the bottom 53.30 $. 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 redline cross the blue line.
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