BITCOIN Analysis for November 1, 2018

Bitcoin has been quite impressive with recent bullish gains under overall extreme bearish pressure since it broke below $6,500. The price rebounded higher amid intense impulsive pressure which engulfed previous corrections and bearish momentum with ease. The price is currently residing above the dynamic levels like 20 EMA, Tenkan, and Kijun line while being inside the Kumo Cloud resistance. As the price remains above $6,000 with a daily close, the bullish bias is expected to continue further. If Kumo Cloud clears up bullish momentum, it will lead to more impulsive bullish pressure in the future.

SUPPORT: 6,000

RESISTANCE: 6,500, 7,500

BIAS: BULLISH

MOMENTUM: VOLATILE

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Fundamental Analysis of USD/CHF for November 1, 2018

USD/CHF has been quite impressive with recent bullish gains. As a result, the price is holding above 1.00 area but currently moving lower with impulsive momentum. USD has been holding the upper hand over CHF. USD is picking up steam ahead of NFP. However, today's CHF gains indicates volatility and counter trend momentum for the coming days.

CHF has been quite positive amid the economic reports published today. The upbeat data is assumed as the main counter-momentum injector currently. Today Switzerland's SECO Consumer Climate report was published with an increase to -6 from the previous figure of -7 which was expected to decrease to -8, CPI increased to 0.2% as expected from the previous value of 0.1%, and Manufacturing PMI made a slight decrease to 57.4 from the previous figure of 59.7 which was expected to be at 58.6. Moreover, tomorrow Retail Sales report is going to be published which is expected to decrease to -0.2% from the previous value of 0.4%.

On the USD side, ahead of NFP tomorrow, USD has been quite mixed with the recently published economic reports. Today US ISM Manufacturing PMI report was published with a decrease to 57.7 from the previous figure of 59.8 which was expected to be at 59.0. Tomorrow, US Average Hourly Earnings report is expected to decrease to 0.2% from the previous value of 0.3%, Non-Farm Employment Change to increase to 193k from the previous figure of 134k, and Unemployment Rate could remain unchanged at 3.7%.

Meanhwile, CHF gains are still quite strong. Better-than-expected Retail Sales result may lead to further bearish gains over USD whereas USD confused the market sentiment due to mixed forecasts of reports. Unclear market sentiment leads to certain gains on the CHF side today which can only be recovered if US economic employment reports reveal strong readings.

Now let us look at the technical view. The price has been quite impulsive which engulfed the recent bullish daily candle. There are certain chances of a counter-move to Bearish Divergence, which is forming at the resistance area. Nevertheless, to get strong confirmation of further bearish pressure the price should close below 0.9980 area with a daily close. As the price remains above 0.9980 area with a daily close, there are still chances of bullish pressure to continue further.

SUPPORT: 0.9980, 0.9850

RESISTANCE: 1.0050, 1.0200

BIAS: BULLISH

MOMENTUM: NON-VOLATILE and IMPULSIVE

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Bitcoin analysis for November 01, 2018

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Trading recommendations:

According to the H1 time - frame, I found that BTC reached my downward taget at the price of $6.174. Anyway, the price rejected strongly after the test of support but we got another potential buying climax, which is a sign that buying around $6.270 looks risky. My advice is to watch for a potential breakout of support at $6.250 to confirm a further downard movement. The downward target is set at the price of $6.173.

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Intraday technical levels and trading recommendations for GBP/USD for November 1, 2018

On September 13, the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090 failed to offer enough bearish pressure on the pair. Since then, the GBP/USD pair has been demonstrating a successful bullish breakout so far.

On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook turned to become bearish within the depicted H4 bearish channel to test the backside of the broken uptrend.

Bearish persistence below the price level of 1.2970 (50% Fibo level) enhanced a further decline towards 1.2790 where the lower limit of the movement channel and 79.8% Fibonacci Level was located.

On H4 chart, the GBP/USD pair looked oversold around the price levels of 1.2700. BUY entries were suggested around the lower limit of the depicted H4 channel (1.2690).

As for the bullish breakout scenario to remain valid, bullish persistence above 1.2790 (the depicted channel upper limit) and an early breakout above 1.3000 (50% Fibo level) are mandatory to maintain sufficient bullish momentum towards 1.3200.

On the other hand, bearish persistence below 1.2790 allows a further decline towards 1.2695 and 1.2660. That's why, price action should be watched around the price zone of 1.2790-1.2840 (recent demand zone) for further trading decisions.

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Intraday technical levels and trading recommendations for EUR/USD for November 1, 2018

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On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.

On October 10, a recent decline below 1.1520 found its way towards the price level of 1.1420.

However, temporary bullish recovery around 1.1430 pushed the EUR/USD pair above 1.1520 until a bearish breakdown of 1.1520 occurred again on October 17.

Hence, a descending high was established around 1.1600 enhancing the bearish side of the market.

As for the bearish side of the market to remain dominant, the EUR/USD pair should pursue trading below the price level of 1.1400.

The current bearish breakout has initial targets around 1.1275 and probably 1.1100 if sufficient bearish pressure is demonstrated.

On the other hand, any bullish breakout above 1.1400 should be considered as an early exit signal for sellers.

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GBP/USD analysis for November 01, 2018

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Recently, the GBP/USD pair has been upwards. As I expected, the price tested the level of 1.2919. According to the H1 time – frame, I have found a breakout of the 5-day downward channel, which is a sign that buyers are in control and that selling looks risky. I have also found a rising trendline active and higher highs and higher lows, which is another sign of strength. My advice is to watch for buying opportunities on the pullbacks. The upward targeti is set at the price of 1.3025.

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Indicator analysis. Monthly review of the EUR / USD pair for November 2018

There is a downward channel from January 2008 on the market. Having been tested the line, the price since February 2018 is moving down. In October, thanks to the line of 1.1303 (white thin line). In November, the upper recoil performance is high.

Trend analysis (Fig. 1).

After testing the support line, the price in November will try to go up to the pullback with the upper target rolling level 14.6% at 1.1484 (blue dashed line).

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Fig. 2 (monthly schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - down;

Conclusion of the complex analysis - most likely the top job.

The total result of the calculation of the EUR / USD currency pair candle on a monthly schedule: the price is most likely to have an upward trend with the absence of the first lower shadow (the first week of the month is the lower) for the monthly white candle and the second upper shadow (the last week is black). The first upper target is the rollback level of 14.6% at 1.1484 (blue dashed line)The material has been provided by InstaForex Company - www.instaforex.com

Analysis of Gold for November 01, 2018

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Recently, Gold has been trading sideways at the price of $1,224.20. Anyway, according to the H4 time – frame, I have found that price made a successful breakout of the well-defined resistance trendline (diagonal), which is a sign that buyers took control from the sellers. I also found the end of the downward correction (abc flat) in the background, which is another sign that buyers are in control. My advice is to watch for buying opportunities with the take profit level at $1,243.10.

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Technical analysis of GBP/USD for November 01, 2018

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Overview:

The GBP/USD pair fell from the level of 1.2979 towards 1.2902 then it set around 1.2829. Right now, the price is set at 1.2913. It should be noted that volatility is very high for that the GBP/USD pair is still moving between 1.2979 and 1.2902 in coming hours. Furthermore, the price has been set below the strong resistance at the levels of 1.2979 and 1.3029, which coincides with the 23.6% and 38.2% Fibonacci retracement level respectively. Additionally, the price is in a bearish channel now. Amid the previous events, the pair is still in a downtrend. From this point, the GBP/USD pair is continuing in a bearish trend from the new resistance of 1.2979. Thereupon, the price spot of 1.2979 remains a significant resistance zone. Therefore, a possibility that the GBP/USD pair will have downside momentum is rather convincing and the structure of a fall does not look corrective. In order to indicate a bearish opportunity below 1.2979, sell below 1.2979 with the first targets at 1.2829 1.2759 and 1.2695. However, the stop loss should be located above the level of 1.2979.

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Technical analysis of USD/CAD for November 01, 2018

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Overview:

The USD/CAD pair continues to move upwards from the level of 1.3053. This week, the pair rose from the level of 1.3053 (the level of 1.3053 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3140. Today, the first support level is seen at 1.3053 followed by 1.3003, while daily resistance 1 is seen at 1.3140. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3053 and 1.3140; for that we expect a range of 87 pips (1.3140 - 1.3053). On the four-hour chart, immediate resistance is seen at 1.3140, which coincides with last bearish wave. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100). Therefore, if the trend is able to break out through the first resistance level of 1.3140, we should see the pair climbing towards the daily resistance at 1.3224 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3003.

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EUR/USD: Good data supported the US dollar. Oil falls amid rising US stocks

Good data on the US labor market was supported on Wednesday by the US dollar, which strengthened against a number of world currencies. Signs of continued employment growth raise the likelihood of further increases in interest rates by the Federal Reserve next year.

According to ADP, the number of jobs in the US private sector in October this year increased by 227,000, while economists had forecast an increase in jobs in the US private sector by 180,000 in the same month.

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The ADP noted that the labor market is still showing growth, despite a significant shortage of qualified personnel, and therefore small businesses find it difficult to close vacancies. However, a significant increase in jobs was observed in all types of industry, despite the problem with personnel.

Wage growth in the United States will have a positive effect on household spending and will support the economy in the future.

According to the report, labor costs in the United States increased in the 3rd quarter of this year, which indicates the continued high demand for labor and influence higher wages.

According to the US Department of Labor, the labor costs index grew by 0.8% in the 3rd quarter of this year after rising 0.6% in the 2nd quarter. The data completely coincided with the forecasts of economists. Wages increased by 0.9% and also increased the payments for health insurance and benefits for 0.4%. Compared to the same period last year, the index rose by 2.8% in the 3rd quarter.

The good data was leveled by a report in which it was stated that the business indicator of Chicago declined in October due to the reduction of new orders.

According to MNI Indicators, the Chicago PMI Purchasing Managers Index fell to 58.4 points in October from 60.4 points in September. The Economists had 60 points in October. Let me remind you that the index values above 50, despite its decline, indicate an increase in activity.

As for the technical outlook of the EUR/USD pair, the pair will not be stopped by an upward correction, which has long been brewing on the market. It is best to consider short positions from larger resistance levels 1.1390 and 1.1420. In the case of fixing the trading instrument under the support level of 1.1330, the pressure on risky assets will again increase significantly, which will lead to a decrease in the area of new monthly minimums at 1.1250 and 1.1215.

Oil

Oil prices fell after a report from the Energy Information Administration of the US Department of Energy.

According to the data over the week from October 20 to October 26, oil reserves rose by 3.2 million barrels. Analysts predicted that the growth of oil reserves will amount to 2.9 million barrels. Gasoline inventories fell by 3.2 million barrels, while distillate stocks declined by 4.1 million barrels.

As for the technical aspect of oil, the further downward movement may be limited by a large level of support in the region of 63.55 by the WTI brand. After testing this range, large buyers will begin to return to the market. In the case of the formation of an upward correction, attention should be paid to short positions after updating the resistance around $ 69 per barrel.

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GBP / USD pair: plan for the European session on November 1. Trader waiting for the decision of the Bank of England interest

To open long positions on the GBP / USD pair, you need:

Regular rumors on Brexit supported the pound today in the Asian session. Now, it is expected that an agreement will be reached by November 21. As for purchases, it is best to wait for the decision of the Bank of England on interest rates and look at the market reaction. If they are not allowed below 1.2839 and make a false break, it is recommended to open long positions based on the continuation of the upward correction to areas 1.2905 and 1.2947, where it is best to take profits. In the case of a decline under the support of 1.2839 in the first half of the day, purchases can be considered to rebound from the area of 1.2767, where the moving averages are now located.

To open short positions on the GBP / USD pair, you need:

The Bank of England regards hikes. With this option, it is possible to quickly push the pound down to the areas of 1.2767 and 1.2703, where taking profits are recommended. In cathe se of resumption of the correction , short positions can return when a false breakdown is formed in the region of the maximum of 1.2905 or to the rebound from 1.2947 and 1.2981.

Indicator signals:

Moving averages

Trade has moved above the 30- and 50-day average, which indicates the formation of an upward correction in the pound. In case of a decline, a test of these levels will be a signal to buy.

Bollinger bands

The Bollinger Bands indicator is located in the 1.2805 area. A signal to buy pounds.

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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 pair: plan for the European session on November 1. Time for a small correction

To open long positions on EUR / USD pair, you need:

The European currency recovered slightly after the update of the next monthly lows after the publication of yesterday's statistics for the eurozone. While the trade is conducted above the intermediate support of 1.1330, the demand for the euro will remain and both the breakthrough and consolidation above the resistance of 1.1360 will lead to a larger upward correction in the area of 1.1388 and 1.1421, where fixing profits are recommended. If euro buyers again lose support for 1.1330, it is best to return to long positions on a false breakdown around 1.1300 or to rebound from a new minimum of 1.1250.

To open short positions on EUR / USD pair, you need:

Sellers need to form a false breakdown at the resistance level of 1.1360 or break through the support of 1.1330, which will lead to the continuation of the downward wave formation in EUR / USD pair with the exit to the lows of 1.1300 and 1.1251, where taking profits are recommended. In the case of growth above the resistance of 1.1360, short positions return to the rebound from the level of 1.1388.

Indicator signals:

Moving averages

Trade is conducted between the 30- and 50-day average, which indicates the formation of the lateral nature of the market with a possible upward correction.

Bollinger bands

A break of the upper border of the Bollinger Bands indicator in the area of 1.1355 could lead to a larger increase in the euro. In case of reduction, support will be provided by the lower limit, which coincides with the support of 1.1300.

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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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Trading plan for 11/01/2018

Yesterday, something happened that is extremely rare, the pound and the single European currency moved in completely different directions. At the same time, the growth of the pound was caused solely by political factors, since no macroeconomic data was available. The whole thing is in the notorious Brexit, since it was announced that at the beginning of the third decade of November, the United Kingdom and the European Union will sign the final version of the "divorce" agreement. Of course, there is still the question of adopting it in the English Parliament, where the majority of the votes belong to the political opponents of Theresa May, who are more likely to seek to discredit the Prime Minister. Her opponents constantly criticize her for the fact that the agreement is too soft or too hard, depending on the political preferences of the speakers. So it is possible that the agreement will be rejected by the British Parliament. However, investors are not yet ready to think about it, and they need a reason to even out the imbalances caused by excessive strengthening of the dollar. The statements that the agreement is about to be signed are quite satisfactory. After all, even a bad agreement is better than none.

With a single European currency, everything was somewhat different. To be honest, an agreement with the UK will be concluded or not, it will not affect the continent's economy so much. The policy of the European Central Bank is much more concerned about market participants. And, it seems to be like, there is a reason for joy, since the preliminary inflation data showed its growth from 2.1% to 2.2%, so one can hope that Mario Draghi will keep his promise, and from next year, the quantitative easing program will become history. However, data on retail sales in Germany destroy all sorts of dreams, because their growth by 1.5% was replaced by a decline of 2.6%. This is in annual terms. We are talking about the largest euro area economy. So it does not matter that prices are rising, since consumer activity is declining at a much higher rate. Nevertheless, the fact of inflation growth, of course, is positive for the single European currency, and it allowed it to recover somewhat after the publication of retail sales data.

Frankly speaking, against the background of all these events, ADP data on employment in the United States passed almost unnoticed, which showed an increase of 227 thousand versus 218 thousand in the previous month. It was expected that the rate of employment growth would not increase, but decrease. This is on the threshold of tomorrow's publication by the US Department of Labor, which may turn out to be even better than predicted.

Today in the United States, data on the number of applications for unemployment benefits will be published, and it is predicted that their number will remain virtually unchanged. The growth rate of labor productivity should slow down from 2.9% to 2.0%, but the market does not look at this indicator. The main event of the day will be the meeting of the Bank of England monetary policy board. Earlier, Mark Carney said in plain text that there would be no change in the monetary policy of the Bank of England until the UK secession from the European Union. However, taking into account what is happening, as well as a high probability of divorce without any trade agreement, which is an extremely tough option, promising the British economy a lot of problems, the regulator is expected to at least take some preemptive action. Let not today, but at least in the foreseeable future.

The euro / dollar currency pair, having reached the level of 1.1300, felt a periodic support in the form of support and went into the correction phase due to general overheating. Probably assume the move in the direction of 1.1380 - 1.1410.

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The currency pair pound / dollar entered the long-awaited correction phase after the descent up to 1.2693. It is likely to assume that already near the mark of 1.2900, we will see a slowdown, relative to which short positions may appear.

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The cost of oil decreases after the maximum fall in October

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On Thursday, November 1, the cost of black gold continues to decline. Experts noticed that this happened after a significant drop in prices in October, which was a record for the last two years.

Futures for Brent crude for delivery in January on the London ICE Futures Exchange fell 0.6% to $ 74.59 a barrel. A day earlier, their price dropped by 1.2%, reaching $ 75.04 per barrel by the close of trading. The December futures for light oil WTI decreased by 0.57%, to $ 64.94 per barrel. By the end of the last session, their price fell by 1.31%, reaching $ 65.31. Over the past month, Brent crude oil fell by 8.8%, and WTI crude oil, by 10.8%, experts say.

According to a report by the US Department of Energy, last week, black gold reserves in the country rose by 3.22 million barrels. At the same time, the American Petroleum Institute (API) previously announced a reduction in reserves by 5.69 million barrels, while experts predicted a rise of 3.3 million barrels.

According to the US Department of Energy, gasoline stocks in the country during the reporting period decreased by 3.16 million barrels, and distillates stocks, by 4.05 million barrels, which exceeded the expectations of experts. Stocks in Cushing, where oil traded on the NYMEX is stored, rose 1.88 million barrels.

Last week, the total oil production in the country grew by 300 thousand barrels per day. Imports of black gold for the reporting period decreased by 334 thousand b / d, summarize analysts.

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Pound hints at a possible reversal of the dollar

The pound hints of a possible reversal in the dollar.

On Wednesday and Thursday morning, the pound showed a strong rebound to the top by 150 points in 4-digit.

The picture on the pound has changed dramatically. Now, the picture looks like a "double bottom".

The US news was strong but as we can see, the dollar did not help.

A possible reason is a new balance in European currencies, taking into account that the Fed rate hike has already been reached.

We are ready to buy the pound from 1.2860.

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Wave analysis of GBP / USD for November 1. The meeting of the Bank of England coincides with wave 4.

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Wave counting analysis:

In the course of trading on October 31, the GBP / USD currency pair gained about 55 basis points, and tonight, about 110 more. Thus, there was every reason to assume the completion of wave 3, c. If this assumption is true, then the increase in quotations will continue with targets located near the 100.0% Fibonacci level, within wave 4, c. Such an unexpected growth of the pair is most likely related to the upcoming results of the Bank of England meeting, which will be announced today. If Mark Carney disappoints at a press conference, it can lead to the completion of wave 4 and the transition of the pair to the construction of wave 5, c.

The objectives for the option with purchases:

1.2924 - 100.0% of Fibonacci

The objectives for the option with sales:

1.2638 - 261.8% of Fibonacci (senior grid)

1.2592 - 200.0% of Fibonacci

General conclusions and trading recommendations:

The GBP / USD currency pair has begun to build the estimated wave 4, which is fully consistent with the current wave counting. Now, the pair may rise to 1.2924, but the conclusions are best made after receiving information on rates from the Bank of England and Mark Carney's speech. After that, I expect quotes to decline within wave 5, c, with targets located near the estimated levels of 1.2638 and 1.2592, which corresponds to 261.8% and 200.0% of Fibonacci.

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Wave analysis of EUR / USD for November 1. The pair may continue to fall to the 12th figure.

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Wave counting analysis:

During Wednesday's trading, the EUR / USD currency pair lost another 35 basis points more and remains, therefore, in the framework of the construction of the proposed wave 5, c. If this is true, then the decline in quotations will continue, possibly after a small pullback, with targets located near the Fibonacci level of 161.8%. The wave 5, c, can take a shorter look, however, in the case a news background appears that will support the Eurocurrency. The breakdown of the level of 127.2% indicates that the pair is ready for a further decline.

The objectives for the option with sales:

1.1327 - 127.2% of Fibonacci

1.1194 - 161.8% of Fibonacci

The objectives for the option with purchases:

1.1522 - 76.4% of Fibonacci

1.1432 - 100.0% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build wave 5, c. Thus, now I recommend selling the pair with a view to reducing quotes with targets near the mark of 1.1194. A successful attempt to break through the maximum of the supposed wave 4 will result in the conclusion that the construction of the downward wave is completed and the instrument moves to the upward trend section.

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Simplified Wave Analysis. GBP / JPY review for the week of November 1

Wave pattern on the H4 chart:

The main direction of the short-term trend since the beginning of the year is set by the downward wave of daily scale. The last wave on the H4 chart is at the end of the trend.

Wave pattern on the H1 chart:

From August 15, a bullish wave zigzag is observed on the chart. In the structure of the movement, the middle part (B) is nearing completion.

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Wave pattern on the M15 chart:

The rising wave that began on October 26 does not have a turning potential but may become the basis for a larger turning pattern.

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Recommended trading strategy:

In the coming week period, you can count on a short-term price increase. High likelihood of high volatility. Shopping will be justified only with intraday trading style. The rest are advised to refrain from trade transactions.

Resistance zones:

- 146.70 / 147.20

Support areas:

- 143.80 / 143.30

Explanations to the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure while the dotted shows the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

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GBP / USD. Nov. 1. The trading system. "Regression Channels". On the eve of the meeting of the Bank of England, the pound

4-hour timeframe

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Technical details:

The senior linear regression channel: direction - up.

The younger linear regression channel: direction - down.

Moving average (20; smoothed) - sideways.

CCI: 108.6312

The GBP / USD currency pair has worked out a moving average line on a message from the S & P rating agency that the Brexit negotiations can still be completed successfully. It is clear that this is only an assumption, but at the disposal of traders, there are no more fundamental factors capable of supporting the pound. Also today in the UK, the outcome of the meeting of the Bank of England will be announced. No change in monetary policy is expected, so the key event of the day will be the speech of the chairman of the British regulator, Mark Carney. But in his speech, Carney can touch on the topic of monetary policy, the UK macroeconomic indicators, Brexit negotiations and the possible consequences of leaving the EU without a "deal". All this information will be very interesting to market participants and can cause a strong reaction. Of course, Carney has few opportunities to support the pound. Most likely, he will express concern about a possible exit from the EU without an agreement and will hint at the unpleasant consequences of such a "divorce". This, in turn, may cause new pressure on the pound sterling. The likelihood that his speech will be optimistic is low, and given the strengthening of the pound yesterday-today, we can say that the traders have already worked out all the optimism.

Nearest support levels:

S1 - 1,2817

S2 - 1.2756

S3 - 1.2695

Nearest resistance levels:

R1 - 1.2878

R2 - 1.2939

R3 - 1.3000

Trading recommendations:

The currency pair GBP / USD continues to be adjusted. If the price fails to overcome the moving, and the Heikin Ashi indicator turns down, it will be a signal to open new short positions with targets of 1.2756 and 1.2695.

It is recommended to open long positions only after overcoming the MA. In this case, the bulls will seize the initiative for some time, and the target for buy orders will be the level of 1.2939.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The junior linear channel is the purple lines of the unidirectional movement.

CCI is the blue line in the indicator regression window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.

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

EUR / USD. Nov. 1. The trading system. "Regression Channels". With difficulty, the Eurocurrency began to be adjusted

4-hour timeframe

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Technical details:

The senior linear regression channel: direction - down.

The younger linear regression channel: direction - down.

Moving average (20; smoothed) - down.

CCI: -72.9185

The EUR / USD currency pair on Thursday, November 1, with a grief in half, has begun a very weak upward correction for the time being, the potential of which is limited by the moving average line. It is not yet clear whether the pair has enough strength and the desire of the bulls to overcome the moving. Based on the technical and fundamental picture of recent weeks, there are few chances for a stronger correction. However, if the bears are already "saturated" and do not see new reasons for selling the pair, then a purely technical correction will begin. Fortunately, it will be quite easy to determine, by fixing the pair above the moving average. In the meantime, this did not happen. There is a downward trend that may resume at any time. To date, no important macroeconomic report has been planned in the European Union. The US calendar contains several indices of business activity in the areas of services and production from Markit and ISM. It is unlikely that these reports will have a strong impact on the market, but they may cause a slight reaction. Also today will be a meeting of the Bank of England, and after it, the speech of Mark Carney. If in his speech he touches the subject of Brexit, then the reaction to his words may be followed by the EUR / USD pair. We still believe that the euro now also depends on the results of the Brexit negotiations.

Nearest support levels:

S1 - 1,1292

S2 - 1.1230

S3 - 1.1169

Nearest resistance levels:

R1 - 1.1353

R2 - 1.1414

R3 - 1.1475

Trading recommendations:

The EUR / USD currency pair has begun a round of correction. The price rebound from the moving average line may provoke a resumption of the downward movement. The turn down of the Heikin Ashi will also signal the opening of new short positions with a target of 1.1292.

It is recommended to open long positions with targets of 1.1414 and 1.1475, if the pair succeeds in overcoming the moving average line. In this case, the trend will change to ascending, at least for a short time.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The junior linear regression channel is the purple lines of the unidirectional movement.

CCI - blue line in the indicator window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.

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

Euro and pound are moving in different directions

Eurozone

The core inflation in the euro zone rose in October to 1.1%, which was significantly higher than the September 0.9%, inflation, in general, rose from 2.1% to 2.2%. The growth was largely due to the weakness of the indicator a year ago, in general, inflationary pressure in the eurozone remains limited, however, the positive dynamics are likely to continue, primarily due to higher growth rates of the average wage in the region.

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Current trends that have a direct impact on inflation, especially in the two main economies of the eurozone, France, and Germany, continue to be unconvincing. For example, retail sales in Germany in September declined by 2.6% instead of expected growth and in France, the consumer spending fell by 1.7%, so higher inflation data should not be overestimated, they are unlikely to have any impact on the ECB's position. The net purchase of assets will be completed by the end of 2018. The rate forecasts may become more cautious. The euro is unlikely to get a chance for corrective growth based on inflation data.

It should also be noted that the day before, the euro received another hole in the form of weaker-than-expected GDP growth rates in the 3rd quarter. Growth slowed from 0.4% to 0.2%, according to a preliminary estimate by Eurostat. France looks better than others, but its growth is below expectations. In Italy, things are moving towards a recession. There are no data for Germany yet, but the Bundesbank has already warned that one should not expect any good numbers. Accordingly, the likelihood that eurozone GDP will be able to reach annual growth rates of 2% has noticeably decreased.

The ECB is in a difficult situation. It is impossible to refuse to complete the asset repurchase program, as this may cause an overreaction of the markets, but you will have to think about other incentive methods. Investors understand this, but because the euro will continue to be under pressure.

Until the end of the week, important macroeconomic data from the eurozone will not be received. A new strong factor that can change the mood will not appear. Under these conditions, only the weakness of the dollar can provoke corrective growth to 1.1430, more likely is the re-testing of support for 1.13, followed by a departure below this level.

Great Britain

Pound noticeably improved its position after rumors began to circulate in the markets about an agreement between the Theresa May government and the European Union on the rules for the work of British financial companies after Brexit. According to them, companies will retain access to the EU markets, which in the current conditions should be perceived as an unconditionally positive signal for the pound.

The pound has rekindled after the news, as current macroeconomic data still looks weak. The growth rates of consumer lending declined in September, the CBI reported on extremely low levels of retail sales, RBK reduced the price index to negative values, Gfk indicates that there are no positive changes in the consumer confidence index.

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Today, the Bank of England will hold a regular meeting, at which it is expected that the current monetary policy will remain unchanged. This meeting is considered to be a passing one, since it is not accompanied by the publication of updated forecasts (quarterly report on inflation) and Mark Carney's press conference, and the regulator does not have sufficient grounds for any changes yet.

A pound in the wake of a positive is able to win back part of the fall of the last weeks. The immediate goal is 1.2920. In the case of a successful passage, it will be possible to count on the return of GBP / USD to the trading range established in September. EUR / GBP looks more promising, which has good chances to continue moving south and get to the support of 0.8765.

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Technical analysis for EUR/USD for November 1, 2018

EUR/USD remains in a bearish trend. Price continues to make lower lows and lower highs. Yesterday we saw price move to new lows at 1.13 but now price is bouncing again. I continue to expect price to move lower.

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Black dots - medium strength resistance

Red dots - maximum strength resistance

EUR/USD is bouncing today and we could see price test the black dots resistance area at 1.1380. A rejection at that level will open the way for a move lower towards 1.1250. Breaking above this level will push price towards 1.14-1.1420. If bulls manage to break above this level as well, we should then expect a bigger bounce towards 1.1470-1.1560 area. Trend remains bearish for short and medium-term. Only a break above 1.1620-1.1630 would make me challenge the idea that the trend has changed.

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Analysis of the divergence of EUR / USD on November 1. Double correction signal

4h

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The EUR / USD currency pair reversed in favor of the European currency after the formation of the bullish divergence at the MACD indicator and the rebound from the correction level of 100.0% - 1.1303. As a result, the process of growth began in the direction of the correctional level of 76.4% - 1.1422. New emerging divergences on November 1 is not observed in any indicator. Fixing the pair below the Fibo level of 100.0% will work in favor of the US currency and resuming the fall in the direction of the correction level of 127.2% - 1.1162.

The Fibo grid was built on extremes from August 15, 2018, and September 24, 2018.

Daily

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On the 24-hour chart, the process of falling quotations continues in the direction of the correctional level of 127.2% - 1.1285. Quoting the quotations from the Fibo level of 127.2% will allow traders to count on a turn in favor of the EU currency and some growth in the direction of the correction level of 100.0% - 1.1553. There are no ripening divergences today. Closing the pair below the Fibo level of 127.2% will increase the probability of a further fall in the direction of the next correction level of 161.8% - 1.0941.

The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.

Recommendations to traders:

Purchases of the EUR / USD currency pair can be carried out now with the target of 1.1422 and a Stop Loss order under the Fibo level of 100.0%, since the pair has rebounded from the correction level of 1.1303 with the formation of bullish divergence.

New sales of the EUR / USD currency pair will be possible with the goal of 1.1162 with a Stop Loss order above the Fibo level of 100.0%, if the pair closes below the correction level of 1.1303.

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Technical analysis: Intraday levels for EUR/USD, Nov 01, 2018

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When the European market opens, the eurozone's economic calendar is empty. On the other hand, the US today is due to release a lot of data such as Total Vehicle Sales, Natural Gas Storage, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Claims, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, and Challenger Job Cuts y/y. So, amid the reports, EUR/USD will trade with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1370

Strong Resistance:1.1363

Original Resistance: 1.1352

Inner Sell Area: 1.1341

Target Inner Area: 1.1314

Inner Buy Area: 1.1287

Original Support: 1.1276

Strong Support: 1.1265

Breakout SELL Level: 1.1258

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

Technical analysis for Gold for November 1, 2018

Gold price has broken below $1,220 and has moved lower towards the break out area of $1,215-13. Price back tested this support level and bounced. This is a bullish sign. Gold bulls do not want to see prices break below yesterday lows. They want now to see higher highs and higher lows.

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Magenta rectangle - previous resistance now support area

Gold price is bouncing back above $1,220. This is a very bullish sign. Bulls need to hold above the support area and steadily start a new upward move with higher highs and higher lows. Next resistance for Gold is at $1,223.50 and next at $1,234. A four hour candle close above $1,234 would be a very bullish sign. On the other hand bulls do not want to see price break below $1,212. This would imply that the entire bounce from August lows is most probably over. Bulls do not want to see price make lower lows and lower highs.

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Analysis of the GBP / USD Divergences for November 1. The pound has finally started to grow

4h

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On the 4-hour chart, after the formation of the bullish divergence, the quotes of the GBP / USD currency pair fixed above the Fibo level of 76.4% - 1.2813. Thus, the growth process continues on November 1 in the direction of the next correction level of 61.8% - 1.2905. New emerging divergences today are not observed. Reversing the quotations from the Fibo level of 61.8% will allow traders to expect a reversal in favor of the American currency and a slight decline in the direction of the correctional level of 76.4%.

The Fibo grid was built according to extremums of August 15, 2018, and September 20, 2018.

1h

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On the hourly chart, the pair also started the growth process and completed the consolidation above the correctional level of 127.2% - 1.2833. Thus, the growth can be continued in the direction of the next correction level of 100.0% - 1.2924. None of the indicators have maturing divergences on the current chart. Fixing the pair below the Fibo level of 127.2% can be interpreted as a reversal in favor of the US dollar and expect a resumption of the fall in the direction of the correction level of 161.8% - 1.2718.

The Fibo grid was built on extremes from October 4, 2018, and October 12, 2018.

Recommendations to traders:

Purchases of the GBP / USD currency pair can be carried out now with a target of 1.2924 and a Stop Loss order under the correction level of 127.2%, as the pair completed closing above the 1.2833 level (hourly chart).

To sell the GBP / USD currency pair, it will be possible with the target at 1.2718 and a Stop Loss order above the level of 127.2% if the pair closes below the correction level of 1.2833 (hourly chart).

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

Markets do not want to part with illusions

The environment in the markets was marked by a strong recovery in global stock indices and, in general, by the strengthening of the US dollar thanks to, on the one hand, the strong US employment statistics from ADP, and on the other, the upward dynamics of the US technological sector's shares indices and markedly improved the overall mood of market players.

According to the data presented by ADP, the US economy received 227,000 new jobs in the private sector in October against the forecast of a decline to 189,000 from 218,000. These are really strong values, which indicate a positive dynamic in the economy, which became along with the rise of local stock market grounds for positive sentiment on global trading floors. Given this dynamic in the market, conversations began again that the recent decline in the stock market seemed to be only corrective, and it still has the potential to rise before the Fed raises the rates for the unacceptable level of stock purchases for borrowed money. All this indicates that the markets do not want to part with illusions.

Today, market attention will be attracted by the final decision of the Bank of England on monetary policy. The regulator is expected to leave interest rates at the same level as the total stimulus program (QE). The key interest rate of 0.75% and a volume of 435 billion pounds sterling, respectively.

How can the British currency react to the final decision of the Central Bank? In our opinion, no significant change in monetary policy should be expected from the local regulator. It is clear that it will not be in the wake of a slowdown in economic growth, a slowdown in inflationary pressure and the unresolved Brexit problem to change its monetary course. He can only express hopes that the situation with the UK leaving the EU will sometime be resolved, which will allow the bank to engage in forecasting and planning the necessary measures aimed at getting the country out of the crisis generated by the frankly stupid policy of the previous premier D. Cameron.

Forecast of the day:

The currency pair EUR / USD is trading below the level of 1.1345. Its pullback on Wednesday was amid a rise in risk appetite in the markets. If this trend continues today, the pair may continue to grow to 1.1390-1.1400, but for this, it needs to gain a foothold above 1.1345. If this does not happen, the pair may return to the level of 1.1300.

The currency pair GBP / USD is trading below the level of 1.2860 pending the outcome of the Bank of England monetary policy meeting. We do not expect any changes and believe that if the demand for risky assets goes down, then the pair may also roll back to 1.2660 after falling below 1.2825.

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The forecast for EUR / USD for November 1, 2018

EUR / USD

As we expected in yesterday's forecast, retail sales in Germany in September were worse than the forecast. The indicator showed 0.1% against the expected 0.5%. The consumer price index in the euro area rose to an expected 2.2% from 2.1% in September, the unemployment rate in Italy increased from 9.8% to 10.1%, the overall unemployment rate in the eurozone remained at the same 8.1%.

In the US private sector, according to ADP estimates, 227 thousand new jobs were created in October against the forecast of 188 thousand, the cost of labor for the 3rd quarter increased by 0.8% against expectations of 0.7% and 0.6% in 2 m quarter, which indicates a strong labor market and almost no doubt in strong expanded data on labor on Friday. As a result, the euro lost 40 points, reaching the target level of 1.1300.

Today, there is a correction from the achieved level. We are awaiting its completion near the Kruzenshtern line on the four-hour chart (1.1394).

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Technical analysis: Intraday levels for USD/JPY, Nov 01, 2018

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In Asia, Japan will conduct the 10-y Bond Auction and release Final Manufacturing PMI. The US will provide a batch of macroeconomic data such as Total Vehicle Sales, Natural Gas Storage, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Claims, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, and Challenger Job Cuts y/y. So, there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance 3: 113.42

Resistance 2: 113.19

Resistance 1: 112.97

Support 1: 112.70

Support 2: 112.48

Support 3: 112.26

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

Simplified Wave Analysis. AUD / USD review for the week of November 1

Wave pattern on the H4 chart:

The last wave of this scale is in the downward trend of the daily timeframe. A preliminary calculation allows you to wait for the continuation of the price decline with at least 3 price patterns.

Wave pattern on the H1 chart:

Since October 5, the rising wave is formed. It has no turning potential and will take the place of correction in a larger model.

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Wave pattern on the M15 chart:

Rising wave continues from October 26. The preliminary completion zone is within the nearest resistance and the probability of further lengthening up to the next reversal zone remains.

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Recommended trading strategy:

The small expected potential for price growth and the flat nature of the movement make risky purchases. It is recommended to refrain from trading and wait for the completion of the current recovery.

Resistance zones:

- 0.7340 / 0.7390

- 0.7170 / 0.7220

Support areas:

- 0.7060 / 0.7010

Explanations to the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal..

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure while the dotted shows the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

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

The forecast for GBP / USD on November 1, 2018

GBP / USD

Yesterday, the British pound rose at the moment by 124 points, having to retest the trend nested line of the price channel on the daily chart. Investors were quite nervously preparing at today's meeting of the Bank of England and just as nervously perceived the words of the British Brexit negotiator Dominic Raab that it is possible to conclude an agreement before November 21. Nervously, because he did not say that the treaty would be concluded before this date, and so it is necessary for the legislators to ratify it. So the head of the foreign affairs department D. Hunt commented on the words of Raab. But today in the Asian session, the pound is growing more than other currencies, having already overcome the trend line, which could not be overcome yesterday.

We do not expect any change in the rhetoric of the head of the Central Bank Mark Carney, if only because he, unlike other central bankers, does not try to confuse the markets.

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As a result, there is a full correction. If the price overcomes the resistance of the Kruzenshtern trend line on the four-hour chart (1.2870), the correction can continue to the Fibonacci level of 38.2%, where the Kruzenshtern line is also on the daily chart. Also at this level (1.2920) strong resistance of the minimum on October 3.

If correctional excitement today runs out, we are waiting for the price to return to the minimum of yesterday and continue to support the trend line of the price channel in the area of 1.2610.

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

The forecast for AUD / USD on November 1, 2018

AUD / USD

At the cost of great efforts, the Australian dollar has emerged above the trend line of a downward channel. Even the Marlin oscillator signal line on the daily chart is in the growth zone. On the four-hour chart, Kruzenshtern was fixed above the indicator lines of balance. The price reversal from these lines upwards coincided with the reversal of the Marlin line from the neutral border. This is quite a strong signal for growth, but on the daily chart, there are strong resistances in the form of these two indicator lines. Overcoming them will allow the price to work out the upper limit of the price channel at 0.7187. In the case of failure, we are waiting for the price to return to 0.7044, support for the trend line and lows on October 10, 8 and 5.

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Technical analysis for Dow Jones for October 31, 2018

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Technical outlook:

A daily chart view has been presented here for Dow Jones to have a look at larger swing. As discussed yesterday, Dow was expected to rebound higher and it is trading above 25,200 levels for now. If we consider the bigger picture, the entire drop from 26,950 through 24,100 levels can be considered as the first swing lower. Most probably, it should be followed by a corrective rally towards 26,000 levels which is also seen to be converging around the fibonacci 0.618 resistance of the drop. If prices manage to push higher through those levels, it should be considered as an opportunity to initiate short positions. Resistance should be strong at 26,950 levels and risk should be maintained there. For now, Dow Jones is setting up for a much deeper correction and selling on rallies should be favoured.

Trading plan:

Aggressive traders should be long against 24,000 levels targeting 26,000, while conservative traders should look to sell around 26,000 levels with stop above 27,000.

Good luck!

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BITCOIN Analysis for October 31, 2018

Bitcoin is still quite bearish, trading below $6,500. BTC has come under impulsive pressure recently. The dynamic levels such as 20 EMA, Tenkan, and Kijun lines are working as resistance currently. However, on the back of indecision, a daily candle indicates the correction in the market while being pushed lower consistently. Though the price is heading lower, the bullish bias can be still observed in the market. As the price remains above $6,000 area with a daily close, it is expected to continue further. Currently the price may push a bit lower in the process but with lower pressure. It signals that certain bullish counter may be imminent.

SUPPORT: 6,000

RESISTANCE: 6,500, 7,500

BIAS: BULLISH

MOMENTUM: VOLATILE

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Trading plan for 01/11/2018

On Thursday, the 1st of November, the event of the day is the Bank of England interest rate decision, but the global investors should keep an eye on the other data, like CPI data from Switzerland, PMI Manufacturing data from the UK, Unemployment Claims, Continuing Claims and ISM Manufacturing data from the US. There is a speech from BOE Governor Mark Carney scheduled after the BoE decision is made.

EUR/GBP analysis for 01/11/2018:

The market participants expect the BoE to leave the interest rates unchanged at the level of 0.75%, together with the Asset Purchase Facility at 435bln GBP. The other interesting data will be BoE Inflation Letter that is issued every time when inflation moves away from the target by more than 1 percentage point in either direction. The Official Bank Rate Votes is another interesting piece of data worth to keep an eye on. This indicator shows how the BoE's Monetary Policy Committee voted and the global investors can see who is a hawk and who is a dove among the MPC Committee.

Let's now take a look at the EUR/GBP technical picture at the H4 time frame before the BoE decision is made. The market has broken out of the descending channel and moved up towards the 61% Fibo retracement of the previous swing down, but did not hit the level. The candlestick formation called Bearish Engulfing pattern clearly shows the bears have control over the market and are trying to push the prices back towards the level of 0.8825. The momentum remains negative and points to the downside in slightly overbought market conditions. The next technical support is seen at the level of 0.8797 and the nearest technical resistance is seen at the level of 0.8917.

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Elliott wave analysis of EUR/JPY for November 1, 2018

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EUR/JPY is currently seeing a relief rally towards at least 130.20 and possibly even closer to the 61.8% corrective target of wave A near 130.65. Once this counter rally is complete renewed downside pressure towards at least 124.14.

For now we will concentrate on the relief rally in wave B, which we expect will continue higher to at least 1.3020 in the coming days.

R3: 129.22

R2: 128.54

R1: 128.12

Pivot: 127.91

S1: 127.59

S2: 127.36

S3: 127.22

Trading recommendation:

We are long EUR from 127.75 with our stop placed at 126.50. Upon a break above 128.54 we will move our stop higher to 127.50.

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Fractal analysis of major currency pairs on November 1

Dear colleagues.

For the Euro / Dollar currency pair, we are following the downward trend from October 16. At the moment, there is a high probability of a movement in the correction. For the currency pair Pound / Dollar, the price is in the correction of the downward structure. For the Dollar / Franc currency pair, we should continue the development of the upward cycle of October 23 after the breakdown of 1.0097. For the currency pair Dollar / Yen, we are following the development of the upward cycle of October 26 and we expect further upward movement after the breakdown of 113.46. For the Euro / Yen currency pair, we monitor the initial conditions for the top of October 26 and the development of this structure is expected after the breakdown of 128.86. For the currency pair Pound / Yen, we watch the initial conditions of October 26 and the development of which is expected after the breakdown of 144.76.

Forecast for November 1:

Analytical review of H1-scale currency pairs:

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For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1474, 1.1433, 1.1386, 1.1351, 1.1299, 1.1269 and 1.1209. Here, we continue to follow the development of the downward cycle of October 16. The short-term downward movement is expected in the range of 1.1299 - 1.1269 and hence there is a high probability of a turn up. The potential value for the bottom is considered the level of 1.1209 and the movement to which is expected after the breakdown of 1.1267.

The short-term uptrend is possible in the range of 1.1351 - 1.1386 and the breakdown of the latter will lead to the development of a protracted correction. Here, the goal is 1.1433 and this level is the key support for the downward structure. Its price passage will have to form the initial conditions for the upward cycle. In this case, the key goal is 1.1474.

The main trend is the downward structure of October 16.

Trading recommendations:

Buy 1.1351 Take profit: 1.1384

Buy 1.1388 Take profit: 1.1432

Sell: 1.1299 Take profit: 1.1270

Sell: 1.1267 Take profit: 1.1213

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For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.2979, 1.2909, 1.2866, 1.2802, 1.2696 and 1.2651. Here, the price is in the area of correction from the downward structure on October 12. The short-term downward movement, as well as consolidation are possible in the range of 1.2696 - 1.2651.

The breakdown of the level 1.2802 will lead to the development of the correction movement. Here, the first target is 1.2866 and in the range of 1.2866 - 1.2909 is the consolidation. The breakdown of the level of 1.2909 will begin forming the initial conditions for the upward cycle. In this case, the first potential target is 1.2979.

The main trend is the downward cycle of October 12, the stage of correction.

Trading recommendations:

Buy: 1.2802 Take profit: 1.2864

Buy: 1.2910 Take profit: 1.2976

Sell: 1.2696 Take profit: 1.2655

Sell: Take profit:

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For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0177, 1.0143, 1.0123, 1.0097, 1.0064, 1.0044 and 1.0015. Here, we continue to monitor the ascending cycle of October 23. The upward movement is expected after the breakdown of 1.0097. In this case, the target is 1.0123 and in the range of 1.0123 - 1.0143 is the price consolidation. The potential value for the top is considered the level of 1.0177, upon reaching which we expect a rollback to the correction.

The short-term downward movement is possible in the range of 1.0064 - 1.0044 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.0015 and this level is the key support for the upward trend.

The main trend is a local ascending cycle of October 23.

Trading recommendations:

Buy: 1.0098 Take profit: 1.0123

Buy: 1.0124 Take profit: 1.0140

Sell: 1.0064 Take profit: 1.0046

Sell: 1.0042 Take profit: 1.0018

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For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 114.48, 114.21, 113.77, 113.46, 113.01, 112.80 and 112.44. Here, we are following the development of the ascending cycle of October 26. The short-term upward movement is expected in the range of 113.46 - 113.77 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the goal is 114.21. The potential value for the top is considered the level of 114.48, after reaching which we expect a rollback downwards.

The short-term downward movement, as well as the consolidation, are possible in the range of 113.01 - 112.80 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 112.44 and this level is the key support for the upward structure.

The main trend: the ascending cycle of October 26.

Trading recommendations:

Buy: 113.46 Take profit: 113.75

Buy: 113.80 Take profit: 114.20

Sell: 113.00 Take profit: 112.82

Sell: 112.78 Take profit: 112.49

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For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3269, 1.3222, 1.3191, 1.3168, 1.3089, 1.3060 and 1.3021. Here, we are following the local structure for the top of October 24th. The upward movement is expected after the price passes the range of 1.3168 - 1.3191. In this case, the first target is 1.3222 and consolidation is near this level. The potential value for the top is considered the level of 1.3269, upon reaching which we expect a rollback to the correction.

The short-term downward movement is possible in the range of 1.3089 - 1.3060, hence a high probability of a reversal upwards. The breakdown of the level of 1.3060 will lead to a prolonged correction. Here, the target is 1.3021.

The main trend is the local structure of October 24.

Trading recommendations:

Buy: 1.3191 Take profit: 1.3220

Buy: 1.3224 Take profit: 1.3269

Sell: 1.3089 Take profit: 1.3062

Sell: 1.3058 Take profit: 1.3024

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For the Australian dollar / dollar currency pair, the key levels on the H1 scale are: 0.7189, 0.7167, 0.7136, 0.7110, 0.7062, 0.7040 and 0.7017. Here, we continue to monitor the formation of the ascending structure of October 26. The short-term upward movement is possible in the range of 0.7110 - 0.7136 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.7167. The potential value for the top is considered to be the level of 0.7189, after reaching which we expect consolidation.

The short-term upward movement is possible in the range of 0.7062 - 0.7040 and the breakdown of the latter value will lead to the cancellation of the ascending structure from October 26. In this case, the first target is 0.7017.

The main trend is the formation of potential for the top of October 26.

Trading recommendations:

Buy: 0.7110 Take profit: 0.7134

Buy: 0.7138 Take profit: 0.7165

Sell: 0.7060 Take profit: 0.7040

Sell: 0.7038 Take profit: 0.7017

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For the Euro / Yen currency pair, the key levels on the H1 scale are: 130.55, 129.93, 129.50, 128.86, 128.58, 128.08, 127.78 and 127.40. Here, we set the price for the expressed initial conditions for the upward cycle of October 26. The movement upwards is expected after the price passes the range of 128.58 - 128.86. In this case, the target is 129.50 and in the range of 129.50 - 129.93 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 130.55.

The short-term downward movement is possible in the range of 128.08 - 127.78 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 127.40 and this level is the key support for the top.

The main trend is the initial conditions for the upward cycle of October 26.

Trading recommendations:

Buy: 128.86 Take profit: 129.50

Buy: 129.55 Take profit: 129.90

Sell: 128.08 Take profit: 127.80

Sell: 127.74 Take profit: 127.44

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For the Pound / Yen currency pair, the key levels on the H1 scale are: 146.39, 146.03, 145.28, 144.76, 143.84, 143.19 and 142.24. Here, the price forms a pronounced potential for the top of October 26 in the correction of the downward trend. The short-term downward movement, as well as consolidation is possible in the range of 143.84 - 143.19 and the breakdown of the latter value will lead to the movement to the potential target of 142.24, upon reaching this level, we expect a rollback to the top.

The short-term uptrend is possible in the range of 144.76 - 145.28 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 146.03 and the range of 146.03 - 146.39 is the key support for the downward structure. We are waiting for the initial conditions for the top to reach it.

The main trend - the formation of potential for the top of October 26.

Trading recommendations:

Buy: 144.76 Take profit: 145.26

Buy: 145.32 Take profit: 146.03

Sell: 143.84 Take profit: 143.22

Sell: 143.16 Take profit: 142.30

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