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FxWirePro- BTCUSD Daily Outlook

FxWirePro: GBP/NZD propelled towards 2.0990 by strong UK PMI data, good to buy on dips

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FxWirePro: EUR/CAD hovers around 50-DMA at 1.4740, bias higher, stay long

Wednesday, September 20, 2017 5:38 AM UTC

Trade Idea: Long EUR/CAD

FxWirePro's Hourly EUR Spot Index at 0530 GMT 99.2482 (Bullish)

FxWirePro's Hourly CAD Spot Index at 0530 GMT -97.3127 (Bearish)

Supporting Technicals:

- Bounces off 200-DMA which is strong support

- MACD shows bullish crossover on signal line

- Stochs and RSI biased higher

- Closes above 20-DMA and is currently hovering around 50-DMA

Upcoming Data - Day Ahead:

Germany: producer price inflation report will be released at 0600 GMT.

Support levels - 1.4740 (50-DMA), 1.4709 (20-DMA), 1.4648 (5-DMA)

Resistance levels - 1.4812 (Sept 6 highs), 1.4841 (100-DMA), 1.4946 (61.8% Fib retrace of 1.52580 to 1.44422 fall), 1.5020 (trendline)

Recommendation: Good to go long on dips around 1.4730/40, SL: 1.4650, TP: 1.48/ 1.4840/ 1.49/ 1.4945

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FxWirePro: EUR/CAD hovers around 50-DMA at 1.4740, bias higher, stay long

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