InvestMacro

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After breaking 1.1118, EURUSD has reached 1.1065. Possibly, today the pair may return to 1.1118 to test it from below and then form a new descending structure with the target at 1.1063.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the first descending wave at 1.2866. Today, the pair may start another correction to reach 1.2917 and then continue trading downwards with the target at 1.2765.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9888 and forming another consolidation range around it, USDCHF has broken it upwards to reach 0.9933; right now, it is consolidating around this level. Possibly, the pair may expand the range towards 0.9938 and then start a new decline with the target at 0.9888.

USDJPY, “US Dollar vs Japanese Yen”

After forming the consolidation range above 109.07, USDJPY has broken it downwards. According to the main scenario, the price is expected to trade downwards to reach 108.87 and then form one more ascending structure towards 109.04. Later, the market may resume its decline with the target at 108.52.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.6900. Possibly, the pair may reach 0.6877 and then resume trading upwards to return to 0.6900.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is correcting towards 63.69. Later, the market may resume falling with the short-term target at 63.00.

USDCAD, “US Dollar vs Canadian Dollar”

After finishing the descending impulse towards 1.3137, USDCAD has completed the correction. Possibly, the pair may form a new descending impulse to reach 1.3104 and then start another growth with the target at 1.3160.

XAUUSD, “Gold vs US Dollar”

After completing the descending structure at 1479.30, Gold is consolidating near the lows. Today, the pair may break the range upwards to reach 1493.45. After that, the instrument may form a new descending structure to return to 1478.30.

BRENT

After finishing the ascending structure at 63.50, Brent is correcting towards 62.50. After that, the pair may grow to reach 62.85. If later the price breaks this range to the downside, the market may continue the correction to reach 61.50; if to the upside – resume trading inside the uptrend with the target at 64.90.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is moving upwards to reach 9415.00. Later, the market may form a new descending structure towards 9130.00 and then start another growth with the target at 9600.00.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, there was a divergence on MACD, which made GBPUSD complete the rising wave at 76.0% fibo at 1.3040 and start a new pullback. The support is at 1.2670. After completing the pullback, the instrument may start another rising impulse to reach the previous high at 1.3012 and then the key one at 1.3381.

The H1 chart shows more detailed structure of the current descending correction. The pair has already reached 23.6% fibo, but may yet continue falling towards 38.2%, 50.0%, and 61.8% fibo at 1.2699, 1.2604, and 1.2507 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after reaching 76.0% fibo at 121.55, EURJPY has started a new sideways movement. If the price breaks the resistance at 121.47, the pair may resume growing. The key target is the high at 123.36.

In the H1 chart, the pair has reached 23.6% fibo. In the future, the instrument may continue falling towards 38.2%, 50.0%, and 61.8% fibo at 119.79, 119.27, and 118.75 respectively.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.11278
• Open: 1.10741
• % chg. over the last day: -0.48
• Day’s range: 1.10667 – 1.10799
• 52 wk range: 1.0884 – 1.1623

Yesterday, the US dollar strengthened significantly against its main competitors. The fall of EUR/USD quotes exceeded 50 points. The trading tool has reached key extremes. USD demand rose amid growing prospects for a settlement of the trade conflict between Washington and Beijing. According to media reports, the parties are considering the possibility of mutual concessions in order to sign the first stage of the agreement in November. Additional support for the US currency was provided by positive data on business activity in the US non-manufacturing sector from ISM. Currently, EUR/USD quotes are consolidating in the range of 1.10650-1.10850. The EUR/USD currency pair can decline further. We recommend opening positions from key levels.

The Economic News Feed for 06.11.2019:

• – Composite PMI by Markit (EU) – 11:00 (GMT+2:00);
• – Retail Sales Volume (EU) – 12:00 (GMT+2:00);

Pay attention to the speeches by FOMC representatives.

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also indicates a bearish sentiment.

Trading recommendations

• Support levels: 1.10650, 1.10250, 1.10000
• Resistance levels: 1.10850, 1.11000, 1.11200

If the price consolidates below 1.10650, expect a further drop in the EUR/USD quotes toward 1.10300-1.10100.

Alternatively, the quotes could grow toward 1.11000-1.11200.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.28834
• Open: 1.28835
• % chg. over the last day: -0.03
• Day’s range: 1.28687 – 1.28851
• 52 wk range: 1.1959 – 1.3385

An ambiguous technical pattern has developed on the GBP/USD currency pair. Sterling is consolidating. There is no defined trend. At the moment, the local support and resistance levels are 1.28650 and 1.29000, respectively. Investors expect additional drivers. Demand for the US dollar remains at a fairly high level. GBP/USD quotes can decline yet. We recommend opening positions from key levels.

The Economic News Feed for 06.11.2019 is quite calm.

The price fixed below 50 MA and 100 MA, which signals the strength of sellers.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line began to cross the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.28650, 1.28400, 1.28100
• Resistance levels: 1.29000, 1.29250, 1.29700

If the price consolidates below 1.28650, expect a further decline in GBP/USD quotes.

Alternatively, the quotes could grow toward 1.29200-1.29400.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31496
• Open: 1.31550
• % chg. over the last day: +0.06
• Day’s range: 1.31411 – 1.31704
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair continues to trade flat. Unidirectional trends are not observed. Financial market participants took a wait and see attitude before the release of important statistics from Canada. Looney is currently testing local support and resistance levels: 1.31400 and 1.31750, respectively. USD / CAD quotes have upside potential. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

At 17:00 (GMT+2:00) Ivey will publish a Canadian PMI.

Indicators do not give accurate signals, 50 MA has crossed 100 MA.

The MACD histogram has moved into the positive zone, which indicates the growth of USD/CAD.

The Stochastic Oscillator is in the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.31400, 1.31150, 1.31000
• Resistance levels: 1.31750, 1.32000

If the price consolidates above 1.31750, expect the quotes to rise toward 1.32000-1.32200.

Alternatively, the quotes could decrease toward 1.31150-1.31000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.586
• Open: 109.170
• % chg. over the last day: +0.52
• Day’s range: 108.909 – 109.118
• 52 wk range: 104.97 – 114.56

A pronounced upward trend is observed on the USD/JPY currency air. The trading tool has reached the key extremes. The quotes are consolidating at 108.850-109.100. The demand for safe have currencies has weakened. JPY can decline further against the USD. Keep an eye on the US government bonds and open positions from the key levels.

During the Asian trading session, Japan has published a weak report on business activity in the service industry.

The price fixed above 50 MA and 100 MA, which signals the power of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a bullish sentiment.

Trading recommendations

• Support levels: 108.850, 108.650, 108.500
• Resistance levels: 109.100, 109.250, 109.500

If the price consolidates above 109.100, expect further growth toward 109.300-109.500.

Alternatively the quotes could decrease toward 108.650-108.500.

by JustForex

By Admiral Markets

Source: Economic Events 06 November 2019 – Admiral Markets’ Forex Calendar

After the FED cut rates by 25 basis points last Wednesday, but didn’t deliver any significant further impulses or signs in regards to future monetary policy steps, the ISM Non-Manufacturing data set yesterday pointed to a rise of 54.7 in October from a near 3-year low of 52.6 in September, beating market expectations of 53.5. Business activity, employment and new orders all grew at faster rates.

As a result, expectations among market participants of another FED rate cut by 25 basis points in December dropped to around 5%, making such a step very unlikely and pushed the yellow metal back below 1,500 USD.

If Gold bulls succeed in breaking above 1,520 USD, another test of the current yearly highs around 1,557 USD may be possible. However, currently the mode is bearish in the short term.

Nevertheless, the overall technical picture on a daily time-frame didn’t significantly darken, but instead brings now a potential mid-term long trigger around 1,440/450 USD into play.

Source: Admiral Markets MT5 with MT5SE Add-on Gold Daily chart (between 07 August 2018 to 05 November 2019). Accessed: 05 November 2019 at 10:00 PM GMT

Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of Gold fell by 1.7%, in 2015, it fell by 10.4%, in 2016 it increased by 8.1%, in 2017 it increased by 13.1%, in 2018, it fell by 1.6%, meaning that after five years, it was up by 6.4%.

Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
5. Whilst every reasonable effort is taken to ensure that all sources o

By Admiral Markets

By Alpari.com

By Alpari.com

Article By RoboForex.com

Japanese Candlesticks Analysis 05.11.2019 (GOLD, NZDUSD)

As we can see in the H4 chart, the ascending tendency continues. By now, XAUUSD has completed Engulfing reversal pattern close to the resistance level. At the moment, the pair is reversing. In the future, the price may complete the correction and resume falling with the target at 1495.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue growing to reach 1525.50 without any corrections.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming Shooting Star pattern near the resistance level, NZDUSD is reversing. Right now, the pair is forming another correction, which may later be followed by further decline towards 0.6380. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow to reach 0.6470 and continue the ascending channel.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6900; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6890 and then resume moving upwards to reach 0.7015. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6840. In this case, the pair may continue falling towards 0.6755.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6407; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6385 and then resume moving upwards to reach 0.6545. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6340. In this case, the pair may continue falling towards 0.6255.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3150; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3130 and then resume moving upwards to reach 1.3285. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3065. In this case, the pair may continue falling towards 1.2995. After breaking the descending channel’s upside border and fixing above 1.3205, the price may continue moving upwards.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

The US dollar strengthened against a basket of currency majors. Investors are optimistic about resolving the trade conflict between Washington and Beijing in the near future. The dollar index (#DX) closed yesterday’s trading in the green zone (+0.33%). At the same time, it became known that China put pressure on the United States and demanded to cancel even more tariffs that Washington had introduced earlier. China wants to cancel 15% of tariffs on goods $125 billion worth, which came into force on September 1, as well as 25% of tariffs on goods $250 billion worth. The United States, in turn, considers the option of canceling certain tariffs, however, they are unlikely to agree to cancel all previously introduced ones.

Today, during the Asian trading session, the Reserve Bank of Australia has decided on the interest rate. As expected, the regulator left the indicator unchanged at 0.75% per annum.

Yesterday, optimistic data were published in the UK. Thus, construction PMI in the UK counted to 44.2 and turned out to be better than the forecasted value of 44.0. The Bank of England interest rate decision, which will be adopted on Thursday, November 7, will be the main event for the British pound this week.

The “black gold” prices have been growing. Currently, futures for the WTI crude oil are testing the $57.00 mark per barrel. At 23:30 (GMT+2:00), API weekly crude oil stock will be published.

Market Indicators

On Friday, there was the bullish sentiment in the US stock markets: #SPY (+0.40%), #DIA (+0.44%), #QQQ (+0.62%).

The 10-year US government bonds yield has risen again. At the moment, the indicator is at the level of 1.81-1.82%.

• – Indicators on economic activity in the UK at 11:30 (GMT+2:00);
• – ISM non-manufacturing PMI in the US at 17:00 (GMT+2:00);
• – JOLTS job openings in the US at 17:00 (GMT+2:00);
• – Employment change in New Zealand at 23:45 (GMT+2:00).

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.11691
• Open: -0.34
• % chg. over the last day: -0.34
• Day’s range: 1.11127 – 1.11335
• 52 wk range: 1.0884 – 1.1623

The EUR/USD currency pair went down. The trading tool has updated local lows. The demand for USD has grown amid optimism in resolving the trade conflict between Washington and Beijing in the near future. Keep track of current information on this issue. At the moment, EUR/USD quotes are consolidating in the range of 1.11150-1.11350. Today, investors will evaluate a number of important economic releases from the United States. Open positions from key levels.

The Economic News Feed for 05.11.2019:

• – Trade Balance (US) – 15:00 (GMT+2:00);
• – Non-Manufacturing PMI by ISM (US) – 17:00 (GMT+2:00);
• – JOLTS (US) – 17:00 (GMT+2:00);

The price fixed below 100 MA, which signals the strength of sellers.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations

• Support levels: 1.11150, 1.11000, 1.10750
• Resistance levels: 1.11350, 1.11500, 1.11750

If the price consolidates below 1.11150, expect a further drop in the EUR/USD quotes to 1.10900-1.10800.

Alternatively, the quotes could grow toward 1.11600-1.11700.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.29280
• Open: 1.28834
• % chg. over the last day: -0.37
• Day’s range: 1.28784 – 1.28905
• 52 wk range: 1.1959 – 1.3385

The GBP/USD currency pair is dominated by bearish sentiment. Demand for the US dollar has resumed. Sterling set new local lows. At the moment, GBP/USD quotes are consolidating in the range 1.28750-1.29000. A trading instrument has the potential to further decline. Financial market participants expect important statistics from the UK and the USA. Open positions from key levels.

At 11:30 (GMT+2:00) a number of indicators on business activity in the UK will be published.

Indicators do not give accurate signals: 50 MA began to cross 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.28750, 1.28450, 1.28100
• Resistance levels: 1.29000, 1.29250, 1.29700

If the price consolidates below 1.28750, expect a further drop toward 1.28450-1.28200.

Alternatively, the quotes could grow toward 1.29300-1.29600.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31366
• Open: 1.31496
• % chg. over the last day: +0.11
• Day’s range: 1.31382 – 1.31615
• 52 wk range: 1.2727 – 1.3664

An ambiguous technical picture has developed on the USD/CAD currency pair. A trading instrument is consolidating. There is no defined trend. At the moment, the local support and resistance levels are 1.31300 and 1.31600, respectively. Support for CAD is provided by the positive dynamics of oil quotes. We are expecting important economic releases from the USA. Open positions from key levels.

At 15:30 (GMT+2:00) Canada will publish a trade balance reportr.

Indicators do not give accurate signals: 50 MA crossed 100 MA.

The MACD histogram is near the 0 mark.

The Stochastic Oscillator is in the oversold zone, the% K line is below the% D line, which gives a weak signal to sell USD / CAD.

Trading recommendations

• Support levels: 1.31300, 1.31000, 1.30750
• Resistance levels: 1.31600, 1.31750, 1.32000

If the price consolidates below 1.31300, expect the quotes to fall toward 1.31000-1.30800.

Alternatively, the quotes could grow toward 1.31800-1.32000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.218
• Open: 108.586
• % chg. over the last day: +0.45
• Day’s range: 108.539 – 108.840
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair recovered a significant part of the losses after a sharp decline last week. The trading tool has updated local highs. At the moment, USD / JPY quotes are testing the resistance level of 108.850. 108.650 is the immediate support. We do not exclude further growth of the USD/JPY quotes. Demand for safe haven currencies has weakened amid the prospects for resolving a trade conflict between the US and China. Today we recommend paying attention to the news background from the USA. Open positions from the key levels.

The Economic News Feed for 05.11.2019 is calm.

The price has fixed above 100 MA, which signals the strength of buyers.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD/JPY.

The Stochastic Oscillator has started to leave the overbought zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations

• Support levels: 108.650, 108.500, 108.300
• Resistance levels: 108.850, 109.000, 109.250

If the price consolidates above 108.850, expect further growth toward 109.150-109.300.

Alternatively, the quotes could decrease toward 108.500-108.300.

by JustForex

By Alpari.com

By Alpari.com