Indicator analysis. Daily review on October 15, 2019 for the EUR / USD currency pair

Trend analysis (Fig. 1).

On Tuesday, the main upper target is breaking through the upper fractal - 1.1064 (yellow dashed line). News coming out at 10.00 London time may affect this situation, but in any case, after working out the news, the upward movement will continue. In case of luck, it is possible to continue moving up with the target 1.1111 - the upper fractal (blue dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - down;

- trend analysis - up;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

On Tuesday, an upward movement is possible.

The first upper target of 1.1064 is the upper fractal (yellow dashed line).

In case of breaking up, the next target of 1.1111 is the upper fractal (blue dashed line).

An unlikely scenario is lower work with the target of 1.0994 - a pullback level of 38.2% (yellow dashed line).

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GBP/USD: plan for the European session on October 15. The pound rose on rumors that a number of opponents of the Brexit deal

To open long positions on GBP/USD you need:

After yesterday's downward correction to the area of major support at 1.2533, to which I repeatedly paid attention and from which I recommended to open long positions, the pound resumed its growth. The strengthening was also helped by the news that some members of the Conservative party of Great Britain, especially opponents of Brexit, can change their decision if the plan proposed by Boris Johnson takes into account the interests of all parties. Pound buyers now need to stay above the support of 1.2585, and the formation of a false breakdown there will be an additional signal to open long positions. A more important goal of the bulls will be the resistance of 1.2639, a break which will provide GBP/USD with new purchases, which will lead the pair to the area of highs 1.2673 and 1.2705, where I recommend profit taking. With a downward correction to the level of 1.2585, you can also return to long positions to rebound from the lows of 1.2533 and 1.2480.

To open short positions on GBP/USD you need:

Opening short positions in the pound in the current conditions would not be the right decision, as any Brexit news could trigger a new wave of growth. Only unsuccessful consolidation and the formation of a false breakout in the morning in the resistance area of 1.2673 will be a signal to sell GBP/USD with the short-term goal of decreasing to the support area of 1.2585, where I recommend profit taking. When breaking through the high of last week, it is best to consider new short positions for a rebound from the resistance of 1.2741 and 1.2781. If the bears manage to return to the support of 1.2585, after the release of weak reports on the UK labor market, the possibility of pulling down GBP/USD to yesterday's major support in the area of 1.2533 is not ruled out.

Signals of indicators:

Moving averages

Trading is above 30 and 50 moving averages, which indicates the maintenance of a bullish trend.

Bollinger bands

In case the pound declines, support will be provided by the lower boundary of the indicator in the area of 1.2533. Growth will be limited by the upper level at 1.2639.

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Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: Fast EMA 12, Slow EMA 26, SMA 9
  • Bollinger Bands 20
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EUR/USD: plan for the European session on October 15. Buyers need to urgently return 1.1035, otherwise the pressure on the

To open long positions on EURUSD you need:

Market volatility was very low yesterday due to Columbus Day. Therefore, no changes have occurred from a technical point of view. Today, the calculation will be on the data on the index of moods in the business environment of Germany and the eurozone from the ZEW Institute. In case of weak reports, it is best to open long positions in EUR/USD after a downward correction to support at 1.1008, or immediately to rebound from a larger low of 1.0975. However, the main task of the bulls will be to return to the resistance of 1.1035, above which the pair will try to update last week's highs in the area of 1.1061, where I recommend profit taking.

To open short positions on EURUSD you need:

The main objective of the bears will be the return of EUR/USD to the support of 1.1008, and the breakdown of this level will put new pressure on the euro, which will push the pair to a low of 1.0975, where I recommend profit taking. However, everything will depend on fundamental data for Germany and the eurozone. Failure to consolidate above the resistance level of 1.1035, as it was yesterday in the morning after the release of reports, will also be a kind of signal to sell EUR/USD. Short positions can be opened immediately on the rebound from a high of 1.1061, however, the direction in the pair will depend on further negotiations between the United States and China.

Signals of indicators:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates market uncertainty.

Bollinger bands

Volatility is very low, which does not provide signals on entering the market.

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Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: Fast EMA 12, Slow EMA 26, SMA 9
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of GBP/JPY for October 15 - 2019

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We have seen the expected correction lower, but only to a low of 135.47 (just above our ideal target at 135.15). The dip to 135.47 could be enough and GBP/JPY could be ready to engage in the next rally higher towards 137.83 on the way to 139.15.

Support is now seen at 136.21 and then at 135.47 before 135.15.

R3: 138.79

R2: 138.38

R1: 137.83

Pivot: 137.22

S1: 136.21

S2: 135.47

S3: 135.15

Trading recommendation:

We are long GBP from 131.25 with our stop placed at 133.55

The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/JPY for October 15 - 2019

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After a dip to 119.17 (just above our ideal target at 119.01) EUR/JPY could be ready to engage in the next part of this impulsive rally higher towards 121.93. On the way higher we will see resistance at 120.55 and then 121.14 before the ideal target at 121.93.

Short-term support is seen at 119.17 and then at 119.01.

R3: 121.93

R2: 121.14

R1: 120.55

Pivot: 120.00

S1: 119.45

S2: 119.17

S3: 119.01

Trading recommendation:

We are long EUR from 117.25 with our stop placed at 118.00

The material has been provided by InstaForex Company - www.instaforex.com