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EURUSD, USDCAD and WTI Crude Oil Forecasts, September 18, 2019
EURUSD, USDCAD and WTI Crude Oil Forecasts, September 18, 2019
Posted

By - Jamel Lahiani

Posted - 18-09-2019
  • The EURUSD is trending bullish at short term.
  • The USDCAD is ranging volatile at short term.
  • The WTI is ranging at short term.

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.

The USDCAD is a very popular currency pair and represent the exchange rate of the two neighbor money, the U.S. and Canada.

WTI: the pricing crude oil of the United States’ WTI (West Texas Intermediate).

FOREX Market Insights
Yesterday, the crude oil prices effect was stopped by US intervention. The US administration promises to establish the market equilibrium using the US strategic reserve of crude oil. The markets around the world return to sideways and ranging movements and waiting for news about the Saudi petroleum.

Today in Focus
Today, the focus is on a series of high impact economic events and published indicators:
AT 8H30 GMT: The UK Consumer Price Index released by the National Statistics.
AT 9H00 GMT: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services.
AT 12H30 GMT: The core Consumer Price Index released by statistics Canada.
AT 12H30 GMT: The US Housing Starts released by the US Census Bureau.
AT 12H30 GMT: The US Building Permits released by the US Census Bureau.

GRAPHIC 1: EURUSD HOURLY CHART (SEPTEMBER 18, 2019)
Yesterday, the US Dollar follows a bullish movement inside the colored channel. The effect of crude
Oil jump was stomped by the US administration that promises 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: USDCAD HOURLY CHART (SEPTEMBER 18, 2019)
The USDCAD is raging 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.

GRAPHIC 3: WTI CRUDE OIL HOURLY CHART (SEPTEMBER 18, 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 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 redline cross the blue line.

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