As we can see in the H4 chart, after completing the descending impulse, BTCUSD is testing the low. If the instrument breaks it, the price may fall to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 5834.00 and 5664.00 respectively. The resistance level is at 6822.00.
In the H1 chart, the pair is being corrected upwards and heading towards the retracements of 38.2%, 50.0%, and 61.8% at 6266.26, 6321.02, and 6374.00 respectively. If the price breaks the low at 6091.10, the instrument will continue trading downwards.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD has broken the consolidation range in the form of the Triangle pattern to the downside. The short-term target is the low at 166.85. If the instrument breaks this level, the price may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 134.20 and 113.30 respectively. The resistance level is at 254.14.
In the H1 chart, the pair is being corrected and heading towards the retracements 38.2%, 50.0%, and 61.8% at 200.16, 204.65, and 209.35 respectively. If the price breaks the low at 184.38, the instrument will continue falling.
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.
EURUSD is still forming the third ascending wave. Today, the pair may reach 1.1602 and then resume falling towards 1.1544. After that, the instrument start another growth with the target at 1.1650.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is consolidating at the top. Possibly, today the price may break the range downwards and reach the target at 1.3135. Later, the market may start another ascending structure towards 1.3185.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is forming the fourth correctional structure. Possibly, the pair may reach 0.9922 and then resume falling with the first target at 0.9835.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 112.18. According to the main scenario, the pair may break the range upwards and reach the target at 113.10. After that, the instrument may resume falling with the first target at 111.65.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed the consolidation range around 0.7080. If later the instrument breaks this range to the upside, the price may be corrected to reach 0.7228; if to the downside – resume trading inside the downtrend with the target at 0.7000.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating around 66.26. If later the instrument breaks this range to the upside, the price may grow with the short-term target at 67.70; if to the downside – continue the correction towards 65.60.
XAUUSD, “Gold vs US Dollar”
Gold is moving upwards; it has formed the reversal pattern at 1205.00, broken it upwards, and may continue growing with the short-term target at 1128.50. After that, the instrument may resume falling to reach 1205.00 and then start another growth towards 1250.00.
BRENT
Brent is forming the third descending wave; it has completed another consolidation range around 82.22 and broken it downwards. Possibly, the pair may return to test 82.22 from below and then resume falling with the short-term target at 79.11. Later, the market may be corrected to reach 82,22 once again and then start another decline towards the first target at 73.37.
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.
Yesterday, the US dollar continued to lose ground relative to the major currencies. The EUR/USD quotes growth exceeded 80 points. The US currency was under pressure due to weak data on US inflation and criticism of Fed policy by Donald Trump. At the moment, local support and resistance levels are: 1.15700 and 1.16100, respectively. Trading instrument has the potential for further growth. We recommend opening positions from the key levels.
Today, the news feed on the Eurozone economy is calm.
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 1.15700, 1.15350, 1.15000
Resistance levels: 1.16100, 1.16500
If the price fixes above the resistance level of 1.16100, a further growth of the EUR/USD quotes is expected. The movement is tending to 1.16500-1.16750.
An alternative may be the decrease of the EUR/USD currency pair to the level of 1.15350-1.15000.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31880
Open: 1.32190
% chg. over the last day: +0.29
Day’s range: 1.32184 – 1.32579
52 wk range: 1.2361 – 1.4345
The technical pattern on the GBP/USD currency pair is ambiguous. Quotes are in a sideways trend. Unidirectional trend is not observed. The trading instrument is testing the key support and resistance levels: 1.31800 and 1.32500, respectively. Investors expect new information regarding the Brexit process. Positions should be opened from the key levels.
Today, the publication of important statistics from the UK is not planned.
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.31800, 1.31300, 1.31000
Resistance levels: 1.32500, 1.33000
If the price fixes above the resistance level of 1.32500, further growth of the GBP/USD quotes is expected. The movement is tending to the round level of 1.33000.
An alternative may be the decrease of the GBP/USD currency pair to the level of 1.31800-1.31600.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30601
Open: 1.30299
% chg. over the last day: -0.28
Day’s range: 1.30025 – 1.30401
52 wk range: 1.2059 – 1.3795
The USD/CAD currency pair moved away from two-month highs. At the moment, quotes are consolidating. The technical pattern is ambiguous. Local support and resistance levels are: 1.30000 and 1.30400, respectively. In the near future, the correction of the USD/CAD currency pair is not excluded. Positions should be opened from the key levels.
The news feed on the economy of Canada is calm.
Indicators do not send accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
The Stochastic Oscillator is located near the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.30000, 1.29500, 1.29150
Resistance levels: 1.30400, 1.30650, 1.31000
If the price fixes above the local resistance of 1.30400, further growth of the USD/CAD quotes is expected. The movement is tending to 1.30900-1.31250.
Alternative option. If the price fixes below the round level of 1.30000, it is necessary to look for entry points to the market to open short positions. The target movement level is 1.29600-1.29400.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 112.251
Open: 112.114
% chg. over the last day: -0.17
Day’s range: 112.002 – 112.497
52 wk range: 104.56 – 114.74
The USD/JPY currency pair is being traded in a flat. The technical pattern is ambiguous. The USD/JPY quotes are testing the key support and resistance levels: 112.500 and 113.000, respectively. Positions should be opened from these marks. Trading instrument has the potential for further decline. We recommend paying attention to the US government bonds yield.
Publication of important economic reports from Japan is not planned.
Indicators do not send accurate signals: the price is testing 50 MA
The MACD histogram is located near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 112.000, 111.500
Resistance levels: 112.500, 113.000, 113.350
If the price fixes below the round level of 112.000, a further fall in the USD/JPY quotes is expected. The movement is tending to 111.600-111.400.
Alternative option. If the price fixes above 112.500, we recommend looking for entry points to the market to open long positions. The target movement level is 112.800-113.250.
During yesterday’s trading session, the US dollar continued to lose ground relative to currency majors. The dollar index (#DX) closed the trading session in the negative zone (-0.49%). The American currency was under pressure due to aggressive sales in the stock market and weak data on US inflation. In September, core consumer price index counted to 0.1% (m/m), which is below market expectations of 0.2% (m/m).
Donald Trump criticized the Fed policy once again. The US President called the Central Bank officials “crazy” because they plan to follow the interest rate raising. The President of the Federal Reserve Bank of St. Louis, James Bullard, believes that interest rates have reached the optimal value. The ECB protocol indicated that the regulator planned to adhere to the current rate of monetary policy. Investors expect new information regarding the Brexit process.
Oil quotes show positive dynamics. At the moment, futures for the WTI crude oil are testing a mark of $71.80 per barrel.
Market Indicators
Major US stock indices continue to show negative dynamics: #SPY (-2.20%), #DIA (-2.26%), #QQQ (-1.24%).
The 10-year US government bonds yield moved away from seven-year highs. At the moment, the indicator is at the level of 3.18-3.19%.
Today, the news feed is rather calm:
– Export and import price indices in the US at 15:30 (GMT+3:00); – Michigan consumer expectations and sentiment at 17:00 (GMT+3:00).
On Thursday the 11th of October, the euro rose to 1.1599 against the greenback. During trading in Europe, the EURUSD pair initially rose to 1.1599 following the publication of the minutes of the ECB’s latest meeting on monetary policy (the regulator pans to end its asset-purchasing program by the end of the year). The pair then dropped to 1.1546 on the back of a rise in US10Y bond yields before returning to 1.1599 after the release of US inflation data, which put pressure on the dollar.
Consumer inflation grew slower than expected on both an annual and monthly basis. This tripped markets up given that if this trend persists, it could lead the Fed to revise their rate hike trajectory for 2019.
CPI ex food & energy (MoM) (Sep): 0.1% (forecast: 0.2%, previous: 0.1%).
Day’s news (GMT+3):
09:00 Germany: CPI (Sep).
12:00 Eurozone: industrial production (Aug).
15:30 US: import price index (Sep).
16:30 US: Fed’s Evans speech.
17:00 US: Michigan consumer sentiment index (Oct).
20:00 US: Baker Hughes US oil rig count.
Fig 1. EURUSD hourly chart.
Current situation:
Upwards movement is on hold. Too many highs and bearish divergences have formed over the last 67 hours. The bears failed to break through the trend line on Thursday due to weak US data. The pair has moved just outside of the sell zone between the 112th and 135th degrees. Taking the divergences on the AO and stochastic indicators into account, today I expect to see a downwards correction to 1.1556. The drop will intensify if we break through the trend line. If it holds up and the AO indicator unloads to the zero line, then all bearish divergences will disappear. If this happens, we can expect to see a rise to 1.1620. The single currency is currently being dragged upwards by CAD and GBP.
If you have ever checked the median salary of a Marketing manager or a Branding manager, you’ll be amazed at how much it has increased over the past years. With the modern digital lifestyle becoming relevant in every corner of the planet, it becomes hard for local companies to keep up with their international competitors if they do not start investing in branding and marketing.
It’s easy to say that the salaries compliment the investment amounts that companies make to create amazing marketing campaigns and develop their brands to be better recognized and loved. One of the biggest costs could be the brand name and website of the company.
Like any other company, financial companies also want to have good marketing and branding. But when it comes to them becoming part of an already existing industry with specified names, they sometimes want to opt for a name connected to the product they want to sell. For example, companies would love to have the name Forex.com or Bitcoin.com, it just makes the whole searching process for the customer easier and could bring in billions in revenue if treated right. This trend was easily picked up by ForexNewsNow.com who decide to dedicate some time to its research.
We were shocked when we saw how much the companies were willing to spend on a website just for the purposes of branding. The article features numerous companies that have spent well over millions of dollars on their web pages and brand names. It also features the ones who were lucky enough to have a respectably good brand name with relatively low investments. One of the most fascinating news for us was about Crypto.com and how it got sold for probably more than $10 million.
We decided to feature the information about these companies and help you understand what happens with the minds of CEOs and CMOs when they are deciding a brand name and amounts of funds to invest in it. Some of the companies even feature information on how these brand names were nothing but a benefit to their overall performance. We hope you will enjoy the quick read.
Our research team, at www.TheTechnicalTraders.com, is alerting our members that the Transportation Index has reached its first level of support near 10,500 and this level may be the start of an extended bottoming formation. If you have been following our research posts, you already know that we predicted this recent downside price swing over 3 weeks ago with our Adaptive Learning Predictive Modeling systems. You will also understand that our modeling systems suggest this move may not end till early November (somewhere between November 8~12). Keeping this in mind, we are now alerting you to be prepared for the following.
This Weekly US Transportation Index chart highlights what we believe will become support for the US stock markets. The 10,500 level, highlighted by the GREEN horizontal line, is a key support level that goes all the way back to late 2017 and early 2018. This level will likely present strong support for the Transportation Index and, thus, for the US stock markets in general. We do expect the continued downside pricing pressures to test this level over the next few weeks, but we are beginning to think we may be setting up for an extended bottom formation that may include many weeks of volatility and sideways price rotation.
If the 10,500 level is breached, secondary support exists at the 10,000 level (only 500 pts below). As dramatic as that move will be, if it happens, this suggests that any attempt to move to near this level could be considered a “wash-out low” price rotation – a typical bottom formation. At this point, we believe the 10,500 level is holding as we are not seeing extended downside price action in the current market. If the US stock market was severely threatened by internal or external factors, we believe we would have seen much deeper follow-through the day after the massive price collapse.
What does an extended bottoming formation look like and what should we expect over the next few weeks? Please take a look at this Daily Transportation Index chart that shows an earlier example of extended bottoming and bottom price rotation before a recent upside price move. This example clearly shows how the initial bottom setup (highlighted in YELLOW) forms prior to an extended period or “basing” or bottoming price rotation. We don’t expect many months of this type of bottoming price rotation. We expect this bottom to setup and form over a period of about 2~3 weeks before a new uptrend begins to form. Overall, this is a good example of how an extended bottom is formed before an upside price move initiates.
We urge you to pay attention to our posts and to visit TheTechnicalTraders.com to learn more about how we can help you navigate these markets. Please take a minute to visit our website and learn how we continue to work to assist our members with clear and effective analysis, research and trading signals every day. It really makes a world of difference when you have a dedicated team of researchers using specialized proprietary price modeling systems to help you stay ahead of these market moves.
AUDUSD is trading at 0.7073; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7090 and then resume moving downwards to reach 0.6975. Another signal to confirm further descending movement is the price’s rebounding from the channel’s upside border. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7150. In this case, the pair may continue growing towards 0.7225.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6475; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 0.6490 and then resume moving downwards to reach 0.6365. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the Triangle pattern. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6530. In this case, the pair may continue growing towards 0.6655.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3042; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2985 and then continue moving upwards to reach 1.3165. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s downside border. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2895. In this case, the pair may continue falling towards 1.2795.
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.
In the H4 chart, USDCHF is expected to continue falling to reach the 5/8 level.
In the H1 chart, USDCHF is consolidating between the 3/8 and 5/8 levels. In this case, it is expected to break the downside border and then continue falling towards the support at the 0/8 level.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the pair has rebounded from the support at the 0/8 level and may resume trading upwards to reach the 3/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
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.
The EUR/USD currency pair has started recovering. During yesterday’s and today’s trading, the growth of quotes exceeded 70 points. The trading instrument has updated local highs. At the moment, the euro is testing local support and resistance levels: 1.15350 and 1.15700, respectively. Today, investors will assess the ECB account of the last meeting and statistics on inflation in the United States. We recommend opening positions from the key levels.
The news feed on 2018.10.11:
– The ECB account of monetary policy meeting at 14:30 (GMT+3:00);
– Report on inflation in the US at 15:30 (GMT+3:00).
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is in the positive zone and above the signal line, which indicates the bullish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell EUR/USD.
Trading recommendations
Support levels: 1.15350, 1.15000, 1.14600
Resistance levels: 1.15700, 1.16150, 1.16500
If the price fixes above the resistance level of 1.15700, a further increase in the EUR/USD quotes is expected. The movement is tending to 1.16000-1.16250.
An alternative may be a decrease in the EUR/USD currency pair to the level of 1.15000-1.14750.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31411
Open: 1.31880
% chg. over the last day: +0.46
Day’s range: 1.31625 – 1.32441
52 wk range: 1.2361 – 1.4345
The GBP/USD currency pair continues to show positive dynamics. Demand for the pound is still high in the hope that the UK and the EU would soon conclude an agreement on Brexit. At the moment, the key support and resistance levels are: 1.31750 and 1.32350, respectively. Positions should be opened from these marks. We recommend paying attention to the news feed on the US economy.
Today, the publication of important statistics from the UK is not planned.
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 1.31750, 1.31300, 1.31000
Resistance levels: 1.32350, 1.32750
If the price fixes above the resistance level of 1.32350, further growth of the GBP/USD quotes is expected. The movement is tending to 1.32750-1.33000.
An alternative may be the decrease of the GBP/USD currency pair to the level of 1.31400-1.31200.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.29462
Open: 1.30601
% chg. over the last day: +0.82
Day’s range: 1.30329 – 1.30640
52 wk range: 1.2059 – 1.3795
The bullish sentiment is still prevailing on the USD/CAD currency pair. Yesterday, aggressive purchases were observed. The growth of quotes exceeded 100 points. At the moment, the trading instrument is consolidating. Local support and resistance levels are: 1.30300 and 1.30650, respectively. In the near future technical correction is not excluded.
The news feed on the economy of Canada is calm.
Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.30300, 1.30000, 1.29500
Resistance levels: 1.30650, 1.31000
If the price fixes above the local resistance of 1.30650, further growth of the USD/CAD quotes is expected. The movement is tending to 1.31000-1.31250.
Alternative option. If the price fixes below 1.30300, it is necessary to look for entry points to the market to open short positions. The target movement level is 1.30000-1.29750.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 111.259
Open: 111.921
% chg. over the last day: +0.68
Day’s range: 111.786 – 112.077
52 wk range: 104.56 – 114.74
Sales are prevailing on the USD/JPY currency pair. During yesterday’s trading session, the USD/JPY quotes fell by more than 80 points. The trading instrument has formed new local lows. At the moment, the safe haven currency is in a sideways trend. Local support and resistance levels are: 112.000 and 112.350, respectively. Positions should be opened from these marks.
Publication of important economic reports from Japan is not planned.
The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 112.000, 111.500
Resistance levels: 112.350, 112.800
If the price fixes below the round level of 112.000, a further fall in the USD/JPY quotes is expected. The movement is tending to 111.600-111.400.
Alternative option. If the price fixes above the local resistance of 112.350, we recommend looking for market entry points to open long positions. The target movement level is 112.750-113.000.
