MetaTrader 4
Vertex FX 10

EURUSD Update 10th September

Technical Outlook

Level of resistance 1.3888 (23.6% Fib retracement line)

Major support at 1.3104 (50.0% Fib) supporting Thursday trading

RSI is mid-range, currently point down, but could support a retest high

Macro Outlook

The euro has traded upto a week high against the greenback during the Asian session, coming off during the European trading. Trading has been focused around the potential military strikes from a US/French coalition following the alleged use of chemical weapons in Syria. The stakes have been raised after Russia has allied with the Middle Eastern nation, raising the stakes of any strikes.

On Thursday there is a raft of inflation data from the Eurozone that is likely to give the pair further direction. 

Please note that the above is for information only. Abshire-Smith is an execution only brokerage, and trading decisions should be based on personal research and understanding. If you are unsure please contact an independent financial advisor. 

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