InvestMacro

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has finished another descending wave at 1.0945; right now, it is consolidating above this level. Possibly, the pair may start another correction to the upside and reach 1.0967. Later, the market may form a new descending structure to break 1.0940 and then continue trading inside the downtrend with the target at 1.0920.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the predicted target at 1.2197; right now, it is consolidating above this level. Possibly, the pair may correct towards 1.2260. After that, the instrument may continue trading downwards with the target at 1.2176.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending impulse at 0.9950, USDCHF has formed the correction towards 0.9922, thus forming a consolidation range between these two levels. If later the price breaks this range to the upside, the instrument may resume trading upwards with the target at 0.9985 and then start another correction to return to 0.9955.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 107.12. Possibly, the pair may form a new descending structure 106.76 and then resume trading upwards to break 107.68. Later, the market may continue trading inside the uptrend with the target at 108.50.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6751. Today, the pair may form one more ascending structure to reach 0.6780 and then resume trading downwards with the target at 0.6720.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 65.05. Possibly, today the pair may start another decline to break 64.50 and then continue trading inside the downtrend with the predicted target at 63.63.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating around 1.3312. Possibly, today the pair may grow towards 1.3333. If later the price breaks this range to the upside, the instrument may resume trading upwards with the target at 1.3355; if to the downside at 1.3307 – start a new correction towards 1.3277 and then resume trading inside the uptrend with the target at 1.3434.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1498.40. Possibly, the pair may form one more ascending structure to reach 1510.00. However, according to the main scenario the price is expected to fall to break 1494.44 and then continue trading downwards with the target at 1478.85.

BRENT

Brent is consolidating above 57.77. If later the price breaks this range to the upside at 58.70, the instrument may start a new growth to reach 60.33; if to the downside at 57.60 – continue the correction towards 56.85 and then resume trading upwards with the target at 63.63.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has formed the consolidation range around 8150.00. Possibly, the pair may form a new descending structure to reach 7988.00 and then resume trading upwards with the target at 8540.00.

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, after finishing the short-term correction and updating the local low, GBPUSD has reached 61.8% fibo. The next downside target is 76.0% fibo at 1.2108. If the pair is able to break this level, it may try to test the low at 1.1958 and once again enter the post-correctional extension area between 138.2% and 161.8% fibo at 1.2019 and 1.1788 respectively.

In the H1 chart, the pair is testing 61.8% fibo. Later, the price is expected to fall towards 76.0% fibo at 1.2108.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, the convergence made EURJPY complete the descending wave at 61.8% fibo. The current situation may be considered as the start of another mid-term rising wave. However, one shouldn’t exclude a possibility of further decline towards 76.0% fibo at 116.86 in the short-term, but the main scenario implies that the price is expected to move upwards. The first rising impulse has already reached 23.6% fibo. After a slight pullback, the impulse may continue towards 38.2%, 50.0%, 61.8%, and 76.0% fibo at 118.19, 118.54, 118.89, and 119.30 respectively. The key target is the high at 120.01.

In the H1 chart, the price is falling to reach 23.6% fibo. After breaking the local low at 117.07, the mid-term descending tendency may continue towards 76.0% fibo at 116.86.

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 US dollar is stable against a basket of major currencies. The dollar index (#DX) closed yesterday’s trading session with a slight increase (+0.18%). Investors are focused on US-China trade relations. Earlier, the US backlisted some more Chinese technology firms, with which American business was not allowed to cooperate without special licenses. China, in turn, demanded from the United States to lift these restrictions. The United States added 28 companies to the list since these organizations were involved in discrimination against Uighurs, Kazakhs and other members of Muslim minority groups in China. The expansion of this list may adversely affect negotiations between the US and China.

At the same time, the US dollar is still under pressure after the speech by Fed Chairman Jerome Powell. According to him, the regulator is considering the possibility of purchases of treasury bills in order to increase the balance sheet to manage the reserves of the Fed. Powell also recognized the slowdown in employment growth and the risks to the US economy due to geopolitical events. Today, financial market participants will be focused on the publication of FOMC meeting minutes, which may indicate the further rate of the Fed’s monetary policy adjustment.

The British pound is declining against the US dollar due to the lack of progress on the Brexit issue. Yesterday, a meeting between the President of the European Parliament, David Sassoli, and British Prime Minister, Boris Johnson, was held. The EP President said that he had not heard any proposals that could promote Brexit.

The “black gold” prices have been growing. Futures for the WTI crude oil are currently testing the $52.85 mark per barrel. At 17:30, crude oil inventories will be published in the US.

Market Indicators

Yesterday, there was the bearish sentiment in the US stock markets: #SPY (-1.55%), #DIA (-1.19%), #QQQ (-1.50%).

The 10-year US government bonds yield is at the level of 1.54-1.55%.

• – JOLTS job openings in the US at 15:30 (GMT+3:00);
• – Publication of the FOMC meeting minutes at 21:00 (GMT+3:00).

by JustForex

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.09701
• Open: 1.09563
• % chg. over the last day: -0.10
• Day’s range: 1.09505 – 1.09654
• 52 wk range: 1.0884 – 1.1623

Yesterday, the bearish sentiment prevailed on the EUR/USD currency pair. The trading tool has updated the local lows. EUR/USD quotes found support at 1.09450. Mark 1.09700 is already a “mirror” resistance. The focus on trade remains between the US and China. Hopes for a breakthrough in trade negotiations weakened even more after the introduction of new sanctions. Today, investors will evaluate the FOMC protocols, which can indicate the further rate of adjustment of the Fed’s monetary policy. More than 85% of participants in financial markets believe that the regulator will again reduce the range of key interest rates by 25 basis points to 1.50-1.75% at a meeting on October 30. We recommend opening positions from key levels.

The Economic News Feed for 09.10.2019:

• – JOLTS report (US) – 17:00 (GMT+3:00);
• – FOMC Minutes (US) – 21:00 (GMT+3:00);

Also, keep an eye on the speech by the head of Fed.

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

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

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

Trading recommendations

• Support levels: 1.09450, 1.09100, 1.08800
• Resistance levels: 1.09700, 1.10000, 1.10250

If the price consolidates below 1.09450, expect a further descend of quotes toward 1.09000.

Alternatively, the quotes could grow toward 1.10000-1.10200.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.22886
• Open: 1.22183
• % chg. over the last day: -0.59
• Day’s range: 1.22046 – 1.22264
• 52 wk range: 1.1995 – 1.3385

The GBP / USD currency pair went down again. Financial market participants are concerned about the growing risks of the “tough” Brexit. The country’s budget deficit may reach 4% of GDP if the UK leaves the union without concluding a deal. Currently, GBP is consolidating near the round level of 1.22000. 1.22400 is the nearest resistance. A trading instrument has the potential to further decline. Positions must be opened from key levels.

The Economic News Feed for 09.10.2019 is calm.

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 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: 1.22000, 1.21500
• Resistance levels: 1.22400, 1.22850, 1.23300

If the price consolidates below the round level of 1.22000, expect a further drop in GBP/USD quotes to 1.21600-1.21400.

Alternatively, the quotes could grow toward 1.22700-1.22900.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.33087
• Open: 1.33216
• % chg. over the last day: +0.09
• Day’s range: 1.33110 – 1.33276
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair is being traded flat. There is no defined trend. Participants in financial markets expect additional drivers. At the moment, the local support and resistance levels are: 1.33100 and 1.33350, respectively. The focus is on the FOMC Minutes. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The news background on the Canadian economy is calm.

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

The MACD histogram is near 0.

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

Trading recommendations

• Support levels: 1.33100, 1.32900, 1.32700
• Resistance levels: 1.33350, 1.33500

If the price consolidates above 1.33350, expect further growth toward 1.33600-1.33800.

Alternatively, the quotes could decrease toward 1.32900-1.32700.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 107.243
• Open: 107.070
• % chg. over the last day: -0.33
• Day’s range: 106.933 – 107.214
• 52 wk range: 104.97 – 114.56

An ambiguous technical picture has developed on the USD/JPY currency pair. The trading instrument is in lateral movement. At the moment, the local support and resistance levels are: 106.850 and 107.250, respectively. USD/JPY quotes can decline. Investors expect FOMC protocols. We also recommend monitoring the progress of trade negotiations between the United States and China. Positions must be opened from key levels.

The Economic News Feed for 09.10.2019 is calm.

Indicators do not give accurate signals, the price crossed 50 MA and 200 MA.

The MACD histogram is near 0.

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: 106.850, 106.600
• Resistance levels: 107.250, 107.450, 107.700

If the price consolidates below 106.850, expect the quotes to fall toward 106.500-106.300.

Alternatively, the quotes will grow toward 107.600-107.800.

by JustForex

By Admiral Markets

Source: Economic Events October 9, 2019 – Admiral Markets’ Forex Calendar

We want to have a look at Gold today, in the context of the release of the FOMC Minutes for the Fed’s September meeting.

After Gold broke below 1,480 USD on Monday last week, and it closed above 1,500 USD after a series of bad US economic data releases last week. Namely, the ISM Manufacturing and ISM Non-Manufacturing index disappointed market participants and resulted in rising recession fears, while Friday’s Non-Farm Payrolls came in mixed.

As a result, market participants started to expect the Fed to cut rates by another 25 basis points in October, currently showing a probability of over 80%.

With these developments in mind, Gold traders will closely watch the Fed Minutes and search for any signs of further monetary stimulus not only at the upcoming meeting, but also in December.

All in all, our outlook for Gold stays positive – also in the days, weeks and months to come.

That said, we still see our mid-term target around 1,650/700 USD being active and even if we see a stint below last week lows around 1,460 USD (e.g. based on a neutral interpretation of the statement or the Fed members clearly emphasizing that they consider only one 25 basis point in 2019 as necessary), a potential mid-term long trigger is still found around 1,440/450 USD:

Source: Admiral Markets MT5 with MT5-SE Add-on Gold Daily chart (between July 10, 2018, to October 8, 2019). Accessed: October 8, 2019, at 10:00pm 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%.

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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 of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.
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By Admiral Markets

By Alpari.com

By Alpari.com

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6749; 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 0.6715 and then resume moving upwards to reach 0.6855. Another signal to confirm further ascending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6685. In this case, the pair may continue falling towards 0.6595.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6319; 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 0.6280 and then resume moving upwards to reach 0.6420. Another signal to confirm further ascending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6240. In this case, the pair may continue falling towards 0.6165.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3287; 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 1.3265 and then resume moving upwards to reach 1.3425. 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 1.3225. In this case, the pair may continue falling towards 1.3165.

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

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns close to the rising channel’s downside border and reversing, USDCAD has formed Hanging Man pattern in the center of the channel, which may indicate a new correction before the price continues growing towards 1.3372. However, we shouldn’t ignore another scenario, according to which the instrument may fall and return to 1.3200.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Hammer, close to the support level, AUDUSD is reversing. Judging by the previous movements, we may assume that the price may finish the correction and then continue trading upwards to reach 0.6800. However, we shouldn’t ignore a possibility that the instrument may resume falling towards 0.6655.

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 US dollar strengthened slightly against a basket of major currencies. The dollar index (#DX) closed yesterday’s trading session in the positive zone (+0.18%). The US currency was supported by the news that the US and Japan concluded a major trade agreement. US President, Donald Trump, noted that the agreement was very strong and would improve the condition of American farmers, as it would open them access to the Japanese market. Donald Trump also said that the parties continued to work on the following provisions of this agreement.

Financial market participants continue to monitor the progress of trade negotiations between Washington and Beijing. Summit talks should continue on Thursday. However, there is already news that China is not going to cede the US and will insist on its positions, which is contrary to the expectations of the US regarding this agreement.

Also, market sentiment is still unstable due to impeachment proceedings against US President Donald Trump. As it became known, the Federal Court of New York demanded from Donald Trump to submit his tax returns and other financial documents over the past eight years into the Manhattan prosecutor.

The “black gold” prices have been declining. At the moment, futures for the WTI crude oil are testing the $52.75 mark per barrel. At 23:30, API weekly crude stock will be published.

Market Indicators

Yesterday, there was the bearish sentiment in the US stock markets: #SPY (-0.43%), #DIA (-0.35%), #QQQ (-0.30%).

The 10-year US government bonds yield has become stable. At the moment, the indicator is at the level of 1.54-1.56%.

• – US producer price index at 15:30 (GMT+3:00).

We also recommend paying attention to the speech by Fed Chairman Powell.

by JustForex

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.09789
• Open: 1.09701
• % chg. over the last day: -0.11
• Day’s range: 1.09648 – 1.09783
• 52 wk range: 1.0884 – 1.1623

Major currency pairs show mixed results. Quotes EUR/USD continue to consolidate. The trading tool has formed the following critical support and resistance levels: 1.09650 and 1.10000, respectively. Investors continue to monitor the scandal surrounding a possible impeachment of the US president. A federal court in New York ruled that Donald Trump should file his tax returns over the past eight years with Manhattan prosecutors. Today we expect notable economic releases from the USA. Positions must be opened from key levels.

At 15:30 (GMT+3:00), the manufacturer price index in the United States will be published.

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

The MACD histogram is located near the 0 mark.

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

Trading recommendations

• Support levels: 1.09650, 1.09400, 1.09050
• Resistance levels: 1.10000, 1.10250

If the price consolidates above the round level of 1.10000, expect further growth toward 1.10250-1.10400.

Alternatively, the quotes could drop toward 1.09400-1.09200.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.23030
• Open: 1.22886
• % chg. over the last day: -0.39
• Day’s range: 1.22844 – 1.23003
• 52 wk range: 1.1995 – 1.3385

The technical picture on the GBP/USD currency pair is still ambiguous. GBP is trading in a flat. At the moment, the key support and resistance levels are 1.22850 and 1.23350, respectively. Participants in financial markets are waiting for new information regarding the UK’s exit from the EU. Today we recommend paying attention to the news background from the USA. Positions must be opened from key levels.

The Economic News Feed for 08.10.2019 is calm.

Indicators do not give accurate signals: 50 MA has crossed 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 is above the %D line, which indicates a bullish sentiment.

Trading recommendations

• Support levels: 1.22850, 1.22450, 1.22100
• Resistance levels: 1.23350, 1.23800, 1.24150

If the price consolidates above 1.23350, GBP/USD is expected to rise. The potential movement is to 1.23700-1.24000.

An alternative could be a decrease in the GBP/USD currency pair to 1.22500-1.22200.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.33224
• Open: 1.33087
• % chg. over the last day: -0.08
• Day’s range: 1.32881 – 1.33117
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair retreated from local highs and moved to a decline. CAD is currently consolidating. The local support and resistance levels are: 1.32800 and 1.33100, respectively. The technical picture signals a further correction of the USD/CAD quotes after a sharp rally last week. Today we recommend that you pay attention to economic reports from the United States, as well as the dynamics of oil prices. Positions must be opened from key levels.

At 15:15 (GMT+3:00), a report on the construction of new houses in Canada will be published.

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

The MACD histogram is in the negative zone and continues to decline, which indicates further correction of the USD/CAD currency pair.

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

Trading recommendations

• Support levels: 1.32800, 1.32550, 1.32350
• Resistance levels: 1.33100, 1.33300, 1.33450

If the price consolidates below 1.32800, expect further correction toward 1.32550-1.32400.

Alternatively, the quotes could grow toward 1.33400-1.33500.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 106.637
• Open: 107.243
• % chg. over the last day: +0.46
• Day’s range: 107.204 – 107.445
• 52 wk range: 104.97 – 114.56

Yesterday, bullish sentiment prevailed on the USD/JPY currency pair. Quotation growth exceeded 60 points. The trading tool has updated local highs. At present, the currency of the “safe haven” is consolidating in the range 107.100-107.450. We do not exclude further correction of the USD / JPY quotes. We recommend that you keep track of up-to-date information regarding trade negotiations between the United States and China. Positions must be opened from key levels.

Today, Japan published weak data on household spending during the Asian trading session.

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

Trading recommendations

• Support levels: 107.100, 106.800, 106.600
• Resistance levels: 107.450, 107.650, 107.900

If the price consolidates above 107.450, expect further correction toward 107.800-108.000.

Alternatively, the quotes can drop toward 106.800-106.600.

by JustForex