Forex daily forecast

Forex daily forecast

 

Forex daily forecast  that one should be attentive to changes in the economy to make decisions that do not affect our capital.

The EURUSD was undecided last week, forming a Doji on weekly chart. The bias is neutral in the short term. Immediate resistance is seen around 1.1275. A clear break above this area could cause a greater upward pressure testing the level of 1,1350, which is a good place to sell with a tight stop-loss.

Forex daily forecast
Forex daily forecast

Immediate support is seen around 1,1200 to 1,1180. A clear break below that area could result in further downward pressure testing the level of 1,1125 which is a good place to buy with a tight stop-loss. In general I am neutral because the price has been moving sideways without a clear direction in recent months.

The market is underestimating the risk of a spike in December – BBH

Research team of BBH, suggests that if the market is underestimating the risk of a rise in December, it seems to be exaggerating the likelihood of a stroke in November.
Key appointments

The calculation of Bloomberg estimated that market prices is consistent with a probability of 17.1% rate hike next month. The calculation of the CME puts a 10.3%, while our own calculation is 7.5%. However, that is only pure mathematics.

Away from the abstract computation, we mean that no chance of a hike there is a week before the elections in the United States. There is simply no precedent for this, and that the urgency is not such that would entail a violation of that precedent.

Current sale with Elliott wave trade won 147 pips

The trend is bearish on the currency pair EUR/USD in a time frame of 4 hours. As I suggested last week during my daily session live from operating room, the market was falling on a base in the short term to complete a bearish triangle pattern, which was part of a version of a bearish double ZigZag of Elliott wave pattern and traders had search operations in short. Therefore, all those Forex traders who have followed the analysis have made the right decision since the price has come down. Strong key resistance level is present in the level of prices of 1.1205.

In my view, the action of the price on the EUR/USD pair is fall further towards the price of 1,0950 level to complete a corrective downward Elliott wave pattern, in the coming days of negotiation.

Currently; the pattern of triangle bassist looks full and the price activity offers one possible configuration of trade sale joined the downward trend. However; If the price of the pair EUR/USD breaks above the critical resistance level of 1.1205 then I would recommend staying out of the market and to re-examine the four hour of the EUR/USD currency pair chart.

The EUR/GBP pair withdraws to 0.8915

The EUR/GBP pair is today falling nearly a hundred pips to continue retreating after reaching for a fast crash of the pound a maximum about of 0.9200. During the American session, the pair sank to the level of 0.8913, reaching the lowest level in a week. At the end of this report the pair is trading at 0.8935, lowering a 1.05% for the day.

The pound gained strength during the European session after the publication of the data of inflation in the United Kingdom. The CPI rose a 1.0% (y/y) in September, reaching its highest value since November 2014.

Following inflation figures the EUR/GBP pair broke below the key support short-term 0.8960/65 and falling even more. Tomorrow there will be more data from the United Kingdom with the employment report, while on Thursday the European Central Bank will have its meeting.

It's only fair to share...Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInPin on Pinterest

Add a Comment

Your email address will not be published. Required fields are marked *