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Daily Market Forecast, September 18, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

The Euro and Pound have continued to show strength in forex. The U.S Federal Reserve and Bank of Japan will release their monetary policy statements this week. And Gold has slipped and is testing support.

EUR/USD: Euro Continues to React Strong

The Euro has started Monday with slight gains after adding value before the weekend. The European currency is near 1.1930 against the U.S Dollar. Inflation data via the Core Consumer Price Index from the E.U could cause an impact this morning. The Euro continues to look and react in a strong manner short-term.

Gold: Support Looks Vulnerable

Gold has slipped further in early trading . The precious metal is near 1318.00 U.S Dollars an ounce. Support looks vulnerable in the short-term and traders may be focused on the 1310.00 level below. If global equities continue to attract buyers, Gold could see more selling today.

GBP/USD: Consistent Busting of Resistance

The Pound continues to conquer high water marks. The Pound is near 1.36 against the U.S Dollar and has busted through resistance consistently the past few trading sessions. Some traders may believe the Pound has been overbought, but if they decide to speculate on reversals they should have their risk management organized.

USD/JPY: Investors Showing Risk Appetite

There is a banking holiday in Japan today, however, the Yen continues to weaken against the U.S Dollar as investors show they have more risk appetite. The Bank of Japan will release their monetary policy statement and outlook later this week. The Yen is above 111.00 against the U.S Dollar.

Crude Oil: Gains Coming in a Polite Manner

Crude Oil is trading a sliver below 50.00 U.S Dollars a barrel. U.S Crude Oil has made gains the past week and a half in a polite manner. Crude Oil may continue to rise, but traders should be patient and aware the commodity is nearing important consolidated resistance mid-term.

Yaron Mazor is a senior analyst atSuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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