Daily Market Forecast, September 25, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

The Euro and Pound remain within their strong values against the U.S Dollar. Gold has come under additional pressure and has fallen through important support.

EUR/USD: Euro Slips and Buyers Ready

The Euro has seen limited pressure this morning as it is slipped slightly. The Euro is above the 1.19 level against the U.S Dollar. The outcome of the German election yesterday provided little in the way of surprises. The Euro continues to look like an opportunity for traders to take advantage of short-term reversals. If the European currency slips further buyers are likely to step in.

Gold: Short Term Selling Pressure

Gold has fallen through important support. The precious metal is near 1293.00 U.S Dollars an ounce. The rise in risk appetite surrounding equities has created headwinds for Gold as traders continue to look for short-term gains elsewhere. The precious metal may continue to face some selling pressure today.

GBP/USD: Pound Keeps Stronger Realm

The Pound remains within the stronger realms of its value against the U.S Dollar as it hovers above the 1.35 level. The British currency has seen some selling the past couple of trading sessions but has not been pushed back greatly. The Pound is likely to continue to entice buyers looking for an additional rise in value near term.

USD/JPY: A Signal for Further Weakness

The Yen has continued to remain weak and is above the 112.00 level against the U.S Dollar. A Manufacturing reading from Japan this morning came in below its estimate. However, the Nikkei Index has continued to attract buyers, which may signal further downside movement for the Yen.

Crude Oil: Traders Attracted as Buyers

Crude Oil remains within the higher levels of its long consolidated range. U.S Crude Oil is above 50.00 U.S Dollars a barrel and traders continue to be attracted as buyers. The commodity has seen a solid two-week rise in value.

Yaron Mazor is a senior analyst at SuperTraderTV.

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