Indicator analysis. Daily review on October 23, 2019 for the EUR / USD currency pair

Trend analysis (Fig. 1).

On Wednesday, the price from the level of 1.1119, could possibly move up with the target of 1.1181 - the upper fractal (red dashed line). From this level, there is a good opportunity to continue to work up with the target of 1.1209 - a pullback level of 61.8% (blue dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - down;

- trend analysis - up;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

On Wednesday, an upward movement is possible.

The first upper target of 1.1181 is the upper fractal (red dashed line).

The next upper target of 1.1209 is the pullback level of 61.8% (blue dashed line).

An unlikely scenario is from the level of 1.1118, the support line (red bold line) will work down with the target of 1.1066 - pullback level of 32.8% (red dashed line).

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Technical analysis of ETH/USD for 23/10/2019

Crypto Industry News:

You can now earn a master's degree in Blockchain and Distributed Ledger Technology (DLT) at the University of Malta. The financial media announced the creation of a new Master's degree on October 21, noting also that about 35 students were enrolled in the course.

Joshua Ellul, director of the master's program and chairman of the Malta Digital Innovation Authority, said at the DELTA Summit in Malta that 15 companies had already contacted the course students. He also explained the justification that led to the creation of the program:

"We noticed a huge problem between technicians and lawyers and professionals. There were communication problems between us. We thought: it would be an ideal place for master's studies, which would serve the multidisciplinary purposes of various specializations" - he said.

In the summer of 2018, the University of Malta cooperated with the Malta Information Technology Agency (MITA) to establish a scholarship fund of EUR 300,000 for Blockchain and DLT technology. The course description on a special page on the university website explains the scope of the course as follows:

"The Multidisciplinary Master in Blockchain and Distributed Ledger Technologies aims to attract students with a first-degree bachelor's degree in ICT, business or law. [...] The program provides both an interdisciplinary view on Blockchain and DLT as well as a specialization in information and communication technologies, law or business. "

Technical Market Overview:

The ETH/USD pair has made a false breakout above the local high at the level of $175.76 and above the short-term trendline as well, so price reversed suddenly after the Bearish Engulfing candlestick pattern was made. The bears have managed to push the prices toweards the key short-term technical support located at the level of $164.98 - $162.50 and the momentum has increased on the way down. Please keep an eye at the level of $163.98 because it is the key short term technical support for bulls and if clearly violated, then the next support is seen at the level of $151.30.

Weekly Pivot Points:

WR3 - $203.55

WR2 - $195.01

WR1 - $184.09

Weekly Pivot - $175.68

WS1 - $163.10

WS2 - $154.16

WS3 - $142.73

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.

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Control zones USDCHF 10/23/19

Test WCZ 1/4 0.9903-0.9897, which is happening at the moment, will be decisive for today's trading plan. The opening of trading of the European session above this zone will make it possible to consider purchases whose goal will be WCZ 1/2 0.9970-0.9958. It is important to understand that this movement will be corrective relative to the fall of last week, which indicates the need to record purchases with the WCZ 1/2 test.

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Work within the framework of the last downward movement allows us to search for sales at significant resistance, which are WCZ 1/4 and WCZ 1/2.

Selling from current marks will be possible in the event of the formation of a false breakout pattern of yesterday's high. This will make it possible to keep sales to the main goal - weekly control zone 0.9784-0.9761. The reduction range is large enough, which makes it possible to obtain a favorable risk-to-reward ratio. The most favorable selling prices are within WCZ 1/2.

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Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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Bitcoin in short-term bearish pattern

Bitcoin continues to consolidate in a sideways movement between $7,785 and $8,700. Medium-term trend remains bearish and it seems that the more probable scenario is a break below $7.785 and a move towards $6,000-$5,500.

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Black line -major resistance trend line

Red lines - equal size leg down

Green lines - consolidation area

BTCUSD is still inside the trading range. A break below the trading range will push prices lower. However we should be aware of the RSI if it does not produce a lower low. If the RSI produces a bullish divergence then I do not expect to see price as low as $5,500. If the RSI produces new low together with a break down, then I believe we can see $6,000-$5,500. Traders should not forget the upside break out. If price manages to break above $8,700 then we should expect price to move close to the long-term resistance trend line around $9,200-$9,500.

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Technical analysis of BTC/USD for 23/10/2019

Crypto Industry News:

The Taiwanese electronic giant HTC has launched its new smartphone Exodus 1s, enabling users to run a full Bitcoin node on mobile devices. HTC released Exodus 1s at the Lightning Conference in Berlin and began selling the first devices during the event using the Lightning payment network, the company said.

The new Exodus 1s is a cheaper version of the pioneering HTC Exodus 1 with Blockchain technology, which has recently added Bitcoin Cash support. The company claims that the new device at a price of 219 euros can be bought with Bitcoin, Ethereum, Litecoin, Binance Coin and Bitcoin Cash.

In addition to offering buy, sell, send, receive, trade and borrow options, HTC claims that Exodus 1s is the first smartphone capable of supporting a full Bitcoin node.

The product will initially be available to users in Europe, Taiwan, Saudi Arabia and the United Arab Emirates, while other regions will have access to it at a later date, the company noted.

Phil Chen, Director of HTC Decentralization, said full nodes are "the most important component of Bitcoin network resilience," noting that by introducing Exodus 1s, the company lowered the entry barrier for each person to launch the node and participate in a global network.

The predecessor of Exodus 1s, Exodus 1 and "the first native Blockchain phone" was announced for pre-sale on October 23, 2018, and was available in 34 regions, including the US, UK and Hong Kong.

Technical Market Overview:

After the bullish rally at the BTC/USD pair had been capped at the level of $8,292 due to the Pin Bar candlestick pattern made, the price broke below two local technical support levels: $8,048 and $7,934. There is still a chance for the rally to continue, but Bitcoin is again dangerously close to the key technical support and wave (A) bottom after the failed rally above the 61% Fibonacci retracement and bears are regaining the control over the market. The immediate support is seen at the level of $8,048 and the next technical resistance is seen at the level of $8,474.

Weekly Pivot Points:

WR3 - $9,074

WR2 - $8,707

WR1 - $8,444

Weekly Pivot - $8,103

WS1 - $7,849

WS2 - $7,474

WS3 - $7,245

Trading Recommendations:

Due to the short-term impulsive scenario invalidation, the best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.

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Control zones USDCAD 10/23/19

Yesterday's movement allowed the formation of a local accumulation zone. Favorable selling prices are in the range between this extreme and WCZ 1/2 1.3165-1.3156. A false breakout of yesterday's high will make it possible to enter the sale. The first target of the bearish movement will be a weekly low. A further fall will depend on how the price responds to the extreme.

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Work in the downward direction is a priority, while the pair is trading below the WCZ 1/2. Testing this zone will allow you to get the most favorable prices for selling the instrument.

An alternative model will be developed if the closing of today's trading occurs above yesterday's high. This will indicate continued formation of the accumulation zone. To cancel the bearish impulse, closing of trades above WCZ 1/2 will be required. This will complete the current impulse phase and allow you to search for purchases tomorrow. The probability of implementing this model is below 30%, which makes it an auxiliary.

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Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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EURUSD pulls back towards cloud support

EURUSD topped around 1.1180 and is now pulling back towards 1.11. Trend remains bullish as long as price is above 1.1030 and any pull back is considered as buying opportunity. According to Ichimoku cloud indicator we should either see a stop of the decline today or the pull back continues towards 1.1070 area.

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Price has broken above the Daily Kumo. Both tenkan- and kijun-sen are positively sloped and below price. However the Chikou span has hit the cloud resistance and got rejected, that is why we see a pull back now. Price could be heading towards the Kumo and the upper cloud boundary for a back test of the breakout. Support is at 1.11 area. A bounce off this level would be a bullish sign and we could see the resumption of the up trend. Resistance is at recent highs of 1.1180. Next upside target is at 1.1250 and next at 1.14.

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Technical analysis of GBP/USD for 23/10/2019

Technical Market Overview:

The GBP/USD pair has broken below the short-term trendline support after the local high was made at the level of 1.3012. It seems like now is the time to pull-back for bulls as the over 900 pips rally was completed. Any violation of the level of 1.2865 will likely lead to another leg down to the level of 1.2783 again and even a slide towards the level of 1.2705. The key technical support is still located at the level of 1.2561. The larger timeframe trend remains bearish.

Weekly Pivot Points:

WR3 - 1.3651

WR2 - 1.3325

WR1 - 1.3193

Weekly Pivot - 1.2842

WS1 - 1.2723

WS2 - 1.2355

WS3 - 1.2252

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. In order to reverse the trend from down to up, the key level for bulls is seen at 1.2999 and it must be clearly violated. The key long-term technical support is seen at the level of 1.2231 - 1.2224 and the key long-term technical resistance is located at the level of 1.3509. As long as the price is trading below this level, the downtrend continues towards the level of 1.1957 and below.

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Short-term triangle pattern in Gold

Gold price continues to move sideways without any clear short-term direction. Price has formed a triangle pattern and soon we should expect volatility to rise, as price is running out of space. The triangle has $1,493 as the upper boundary and $1,481 as the lower boundary.

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Green line -major medium-term resistance trend line

Red lines - triangle pattern

Gold price is trapped inside the narrowing trading range we see in the 4 hour chart above. Price will soon break the triangle pattern and traders better not bet against it. If price breaks above $1,493 and manages to recapture $1,500 and stay above it, we should expect a new bullish wave to start that will eventually challenge $1,525-35 major resistance. If the triangle is broken downwards we expect price to move towards $1,460-40 area.

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Technical analysis of EUR/USD for 23/10/2019

Technical Market Overview:

The EUR/USD pair has made a high at the level of 1.1179 and then reversed after the Dark Cloud Cover candlestick pattern was made around the top. The bears have managed to push the price back to the ascending channel and are about to test the technical support located at the level of 1.1109. The momentum is now neutral, but there is still a chance for another leg up after the correction is completed. The nearest technical support is seen at the level of 1.1109 and the key technical support is still located at the level of 1.1091.

Weekly Pivot Points:

WR3 - 1.1435

WR2 - 1.1300

WR1 - 1.1250

Weekly Pivot - 1.1120

WS1 - 1.1063

WS2 - 1.0981

WS3 - 1.0893

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. The downtrend is valid as long as it is terminated or the level of 1.1445 clearly violated. There is an Ending Diagonal price pattern visible on the larget timeframes that indicate a possible downtrend termination soon. The key short-term levels are technical support at the level of 1.0999 and the technical resistance at the level of 1.1267.

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Elliott wave analysis of GBP/JPY for October 23 - 2019

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The expected correction is now unfolding and we may see a break below minor support at 138.60 soon to confirm more corrective downside progress towards 135.67 from where a new impulsive rally is expected towards 144.98 and higher.

Now we are monitoring the movement of the wave iii that is pushing higher. Corrections during this phase tend to be smaller and often subnormal. So, it is highly possible that these corrections may fail to hit our target.

R3: 141.12

R2: 140.56

R1: 139.98

Pivot: 139.07

S1: 138.60

S2: 137.84

S3: 137.44

Trading recommendation:

We will buy GBP at 135.75 or upon a break above 141.12

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Elliott wave analysis of EUR/JPY for October 23 - 2019

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The expected correction towards 119.87 is playing out as expected. We may see a dip close to our ideal target in the coming days to complete this correction and set the stage for the next impulsive rally towards the next minor target at 124.64.

In the long-term, we are looking for much higher levels with the first serious hurdle seen near 129.50. When this hurdle has been overcome, we expect some real upside acceleration.

R3: 121.30

R2: 121.07

R1: 120.77

Pivot: 120.64

S1: 120.25

S2: 119.87

S3: 119.10

Trading recommendation:

We are looking for EUR from 117.25 with our stop placed at 119.00

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Technical analysis: Important Intraday Levels For EUR/USD, October 23, 2019

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When the European market opens, some economic data will be released such as Consumer Confidence and German 10-y Bond Auction. The US will also publish the economic data such as Crude Oil Inventories and HPI m/m, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day. TODAY'S TECHNICAL LEVELS: Breakout BUY Level: 1.1184. Strong Resistance: 1.1178. Original Resistance: 1.1167. Inner Sell Area: 1.1156. Target Inner Area: 1.1130. Inner Buy Area: 1.1104. Original Support: 1.1093. Strong Support: 1.1082. Breakout SELL Level: 1.1076. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Important Intraday Levels for USD/JPY, October 23, 2019

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In Asia, Japan will not release any economic reports today, but the US will publish some economic data such as Crude Oil Inventories and HPI m/m. 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: 108.95. Resistance. 2: 108.74. Resistance. 1: 108.52. Support. 1: 108.26. Support. 2: 108.05. Support. 3: 107.83. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Forecast for EUR/USD on October 23, 2019

EUR/USD

The euro fell by 24 points by the end of Tuesday, reaching Friday lows, but trading volumes were average, that is, there was no major closing of positions, and this, as we said in the previous review, will be the main criterion for the exchange rate reversal in the current speculative situation. But such large closures occurred on related currencies: the British pound, the Canadian dollar, the Australian dollar, at least the Swiss franc. It is likely that with further events contributing to this closure, major closures will occur for the euro. Apparently, investors are waiting for ECB decisions on Thursday, but in general no changes in monetary policy are expected, since this is the last meeting for Mario Draghi as the chairman of the ECB, and everything he wanted was already done at the previous meeting. Next, the reins will go to Christine Lagarde.

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So, we are waiting for the massive closure of positions tomorrow, but the current technical situation does not have a clear decline in the euro. On the daily chart, the price is trying to overcome the support of the price channel line. But even if the price drops to 1.1074, in case of political surprises, a reverse exit is possible over this trend line on the technical justification of price development in an upward trend - above the MACD line.

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On the four-hour chart, the first sign of a breakthrough of support is when the Marlin oscillator departs into the lower zone. As in the higher chart, the price is developing above the indicator lines of balance and MACD. When the price reaches the Fibonacci level of 123.6% (1.1074), it will automatically be below the MACD line at H4, which will amplify the signal.

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Forecast for GBP/USD on October 23, 2019

GBP/USD

Yesterday, the British Parliament, to the great satisfaction of Boris Johnson, voted for his plan with the EU, but also decided to postpone Brexit. This postponement should be approved by the EU, but for now, according to Johnson, the government is working to leave the bloc without a deal. Apparently, the EU will approve the postponement, but in this case, re-election of Parliament will be held in the UK. The pound lost 87 points.

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The immediate goal of the decline now becomes the Fibonacci level of 123.6% at the price of 1.2744. Consolidation below the level opens the prospect to the Fibonacci level of 161.8% at the price of 1.2548.

On the four-hour chart, the 1.2744 level corresponds to the price drift below the MACD line. Consolidation under it opens the way to 1.2548.

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USDCAD pull back below resistance!

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Entry: 1.31196

61.8% Fibonacci extension, 23.6% Fibonacci retracement

Take Profit : 1.30180

Why it's good : Long term horizontal swing low

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EUR/USD approaching support, potential for big bounce!

Entry: 1.11079

Why is it good: 23.6% fibonacci retracement, 61.8% fibonacci extension, horizontal overlap support

Stop Loss: 1.10626

Why is it good: horizontal pullback support, 38.2% fibonacci retracement

Take Profit: 1.11671

Why is it good: Horizontal overlap resistance, 78.6% fibonacci retracement

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GBP/USD. Brexit's fate: Johnson lost the battle but not the war

The British parliament yesterday again surprised with its twofold decision: on the one hand, it supported the general principles of the proposed deal, but on the other hand, refused to consider this issue in a speedy, three-day regime. As a result, the situation again remained in limbo, and the "Johnson Blitzkrieg" finally failed.

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The Brexit question has again entered a long-playing phase: the prime minister paused the consideration of this bill. And yet, despite the actual failure of the prime minister, yesterday's events have a positive connotation for the British currency - especially in the long run. The current (negative) reaction of the pound is understandable and justified: London was just one step away from completing the divorce saga, and another step backward disappointed investors. But if we consider the results of yesterday's vote in more detail, we can conclude that the current composition of the House of Commons is "not so hopeless" in the context of contractual capacity. In other words, the chances of approving the deal by the end of this year still remain, but Brexit's next postponement seems to be inevitable.

The pound survived a "boring evening" yesterday: contrary to pessimistic forecasts, the deputies of the House of Commons approved the general provisions of the proposed deal. The voting results are really impressive - 329 deputies voted in favor. Among them are not only members of the Conservative Party, but also some independent deputies, and even several representatives of the Labour Party. 299 deputies (mostly Labour and Scottish Nationalists) spoke out against. For comparison: in January of this year, the Lower House of the British Parliament rejected the deal proposed by May with a failed result - only 202 deputies voted in favor, while 432 MPs voted against.

As soon as the results of this vote became known, the pound paired with the dollar flew to around 1.30, demonstrating a bullish momentum. But the sterling did not last long at this height: following the above question, the government put to the vote the next one - regarding the timing of the consideration of the proposed bill. And here the result was no longer in Johnson's favor, and, accordingly, not in favor of the pound. The Parliament refused to follow the Cabinet's proposal and rejected the proposal to limit the time for discussion of the bill before the third reading. The prime minister wanted to give MPs only three days, although the rules set aside at least three weeks for such treaties of an international character. The deputies did not take into account the political implication of the situation and the proximity of the "X-hour": with 322 votes, they refused to limit themselves to a three-day term.

This is a clear defeat of Boris Johnson. Indeed, a little more than a week left until October 31, which means that the Parliament probably will not have time to reach a final verdict on the deal. In addition, in order to obtain an extension of Brexit, London also needs a temporary gap: for example, a meeting of the European Parliament on this issue will take place tomorrow, and over the next days, EU leaders should approve the extension of the negotiation process. This is provided that all members of the EU form a single opinion - the French, as a rule, go towards Britain only after additional negotiations.

The situation is complicated by the fact that Johnson himself does not intend to beg Europe to grant another delay - and yesterday he again reminded the members of the House of Commons about this. On the one hand, he complied with the requirements of the law obliging him to send a corresponding appeal to Brussels. On the other hand, he also sent a personal letter to the leaders of the European Union, in which he asked not to provide the above delay. It is not yet clear what position Brussels will take in this situation. Many leaders of the EU (including Angela Merkel) expressed their readiness to extend the negotiation process until next summer. But taking into account the results of yesterday's vote and the prime minister's personal position, it is not known whether this delay will be granted, and if so, for how long.

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The current situation puts pressure on the British currency. Paired with the dollar, the pound has returned to the middle of the 28th figure, and will surely fall lower, reacting to a changed fundamental background. But at the same time, I would not be in a hurry to draw conclusions about the resumption of the downward trend in the long term. The situation at any moment may change again - and in favor of the British currency. After Parliament rejected a government proposal to expedite the bill, Johnson said it was currently suspending its consideration as a whole. Now it is not known when the third - decisive - reading will take place. Hypothetically, they may have time to consider it before October 31 (which is unlikely, but still), so the possibility that Johnson will re-submit it to Parliament today or tomorrow is not ruled out. The prime minister may also request from Brussels the technical delay of Brexit - literally for a few weeks, so that the deputies of the House of Commons have time to consider the draft deal in full. Given the results of the preliminary vote, Europe is likely to go towards London on this issue.

All of these scenarios can provide strong support for the British currency. Therefore, despite the general pessimism that is present among GBP/USD traders at the moment, it is very risky to open short positions in the pair. Johnson lost the battle, but not the war.

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Forecast for AUD/USD on October 23, 2019

AUD/USD

The Australian dollar turned down without reaching the upper limit of the blue price channel, which began in January 2018. The immediate goal is the coincidence point of the line of the crane price channel with the indicator line of MACD at the price of 0.6788.

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On a four-hour chart, reaching the specified level will correspond to consolidating the price below the MACD line, here the price may slightly adjust upwards or form a horizontal consolidation before further decline. The prospects for decline are deep: 0.6675 - the low of October and August, then 0.6620 - support for the red price channel on a daily scale.

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USDCHF reaching resistance, watch out!

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Fractal analysis of the main currency pairs for October 23

Forecast for October 23:

Analytical review of currency pairs on the scale of H1:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1223, 1.1179, 1.1161, 1.1140, 1.1123 and 1.1092. Here, we continue to monitor the development of the upward cycle of October 9. Short-term upward movement is expected in the range 1.1161 - 1.1179. The breakdown of the last value will lead to a movement to a potential target - 1.1223, when this level is reached, we expect a pullback to the bottom.

Consolidated movement is expected in the range 1.1140 - 1.1123. The breakdown of the last value will lead to a long correction. Here, the goal is 1.1092. This level is a key support for the top.

The main trend is the local ascending structure of October 8.

Trading recommendations:

Buy: 1.1162 Take profit: 1.1175

Buy 1.1181 Take profit: 1.1220

Sell: Take profit:

Sell: 1.1121 Take profit: 1.1093

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For the pound / dollar pair, the key levels on the H1 scale are: 1.3215, 1.3141, 1.3033, 1.2939, 1.2810, 1.2734 and 1.2625. Here, we are following the development of the upward cycle of October 9. The continuation of the movement to the top is expected after the breakdown of the level of 1.3035. Here, the potential target is 1.3141. Price consolidation is in the range of 1.3141 - 1.3215.

Short-term downward movement is expected in the range of 1.2877 - 1.2810. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2715. This level is a key support for the top. Its breakdown will lead to the formation of potential for the downward cycle. Here, the target is 1.2625.

The main trend is the upward structure of October 9.

Trading recommendations:

Buy: 1.3035 Take profit: 1.3140

Buy: 1.3143 Take profit: 1.3215

Sell: 1.2877 Take profit: 1.2813

Sell: 1.2808 Take profit: 1.2717

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9963, 0.9943, 0.9929, 0.9909, 0.9896, 0.9877, 0.9863, 0.9849 and 0.9822. Here, the price forms a pronounced potential for the upward movement of October 18. Short-term upward movement is expected in the range 0.9896 - 0.9909. The breakdown of the latter value will lead to a movement to the level of 0.9929. Price consolidation is in the range of 0.9929 - 0.9943. For the potential value for the top, we consider the level 0.9963. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9877 - 0.9863. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9850. This level is a key support for the upward structure. Its breakdown will allow you to count on movement to the level of 0.9822.

The main trend is a local descending structure of October 15, the formation of potential for the top of October 18.

Trading recommendations:

Buy : 0.9896 Take profit: 0.9907

Buy : 0.9912 Take profit: 0.9929

Sell: 0.9877 Take profit: 0.9864

Sell: 0.9861 Take profit: 0.9850

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For the dollar / yen pair, the key levels on the scale are : 109.66, 109.33, 108.90, 108.72, 108.24, 108.02 and 107.67. Here, we are following the development of the upward cycle of October 4. Short-term upward movement is expected in the range 108.72 - 108.90. The breakdown of the latter value will lead to a movement to the level of 109.33. Price consolidation is near this level. For the potential value for the top, we consider the level of 109.66. Upon reaching this level, we expect a consolidated movement, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 108.24 - 108.02. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 107.67. This level is a key support for the top.

The main trend: the upward cycle of October 4.

Trading recommendations:

Buy: 108.90 Take profit: 109.30

Buy : 109.34 Take profit: 109.65

Sell: 108.24 Take profit: 108.03

Sell: 108.00 Take profit: 107.70

analytics5dafa42f19324.png

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3160, 1.3128, 1.3101, 1.3073, 1.3036 and 1.2989. Here, we consider the descending structure of October 10 as a medium-term initial condition. The continuation of movement to the bottom is expected after the breakdown of the level of 1.3073. In this case, the target is 1.3036. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.2989. Upon reaching this level, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 1.3101 - 1.3128. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3160. This level is a key support for the downward structure.

The main trend is the downward cycle of October 10.

Trading recommendations:

Buy: 1.3101 Take profit: 1.3126

Buy : 1.3130 Take profit: 1.3160

Sell: 1.3073 Take profit: 1.3038

Sell: 1.3034 Take profit: 1.3000

analytics5dafa44b3dba2.png

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6933, 0.6901, 0.6886, 0.6854, 0.6838, 0.6820 and 0.6805. Here, we are following the development of the ascending structure of October 16. Short-term upward movement is expected in the range of 0.6886 - 0.6901. The breakdown of the latter value will lead to the development of pronounced movement to a potential target - 0.6933. From this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.6854 - 0.6838. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6820. The range of 0.6820 - 0.6805 is the key support for the upward structure.

The main trend is the upward structure of October 16.

Trading recommendations:

Buy: 0.6887 Take profit: 0.6900

Buy: 0.6904 Take profit: 0.6930

Sell : 0.6854 Take profit : 0.6840

Sell: 0.6836 Take profit: 0.6820

analytics5dafa466980e8.png

For the euro / yen pair, the key levels on the H1 scale are: 121.95, 121.79, 121.34, 121.03, 120.61, 120.28, 119.92 and 119.64. Here, we are following the development of the local ascendant structure of October 15. Short-term upward movement is expected in the range 121.03 - 121.34. The breakdown of the level of 121.35 should be accompanied by a pronounced upward movement. Here, the target is 121.79. Price consolidation is in the range of 121.79 - 121.95. From here, we expect a correction.

Short-term downward movement is possibly in the range of 120.61 - 120.28. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 119.92. This level is a key support for the top. Its passage at the price will lead to the formation of initial conditions for the downward cycle. In this case, the first goal - 119.64.

The main trend is the upward structure of October 15.

Trading recommendations:

Buy: 121.05 Take profit: 121.34

Buy: 121.36 Take profit: 121.76

Sell: 120.60 Take profit: 120.33

Sell: 120.25 Take profit: 119.94

analytics5dafa483dff74.png

For the pound / yen pair, the key levels on the H1 scale are : 142.82, 140.89, 139.53, 138.70, 137.79 and 137.08. Here, we are following the development of the upward cycle of October 8. The continuation of movement to the top is expected after the breakdown of the level of 140.90. In this case, the potential target is 142.82. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 139.53 - 138.70. The breakdown of the last value will lead to a long correction. Here, the target is 137.79. The range of 137.79 - 137.08 is the key support for the top.

The main trend is the medium-term upward structure of October 8.

Trading recommendations:

Buy: Take profit:

Buy: 141.25 Take profit: 142.80

Sell: 139.50 Take profit: 138.75

Sell: 138.65 Take profit: 137.80

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

#USDX vs EUR / USD vs GBP / USD vs USD / JPY. Comprehensive analysis of movement options from October 23, 2019 APLs &

Two Brexit votes - not much in one day? - Here's a comprehensive analysis of movement options - #USDX, EUR / USD, GBP / USD and USD / JPY (DAILY) from October 23, 2019.

Minor (Daily time frame)

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US dollar Index

From October 23, 2019, the development of the movement of the USD index #USDX will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (96.65 - 97.20 - 97.75) of the Minuette operational scale fork. Look at the details of the movement inside this zone in the animated chart.

In case of breakdown of the upper boundary of ISL38.2 (resistance level of 97.75) of the equilibrium zone of the Minuette operational scale fork, the development of the movement of the dollar index will continue to the boundaries of the 1/2 Median Line channel of Minuette (98.15 - 98.55 - 98.90).

On the contrary, if the breakdown of the lower boundary ISL61.8 (support level of 96.65) of the equilibrium zone of the Minuette operational scale fork takes place, then the downward movement #USDX will be directed to the minimum (95.84 - 95.03).

The markup of #USDX movement options from October 23, 2019 is shown in the animated chart.

analytics5daf22011adcc.jpg

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Euro vs US dollar

Further development of the movement of the single European currency EUR / USD from October 23 will be determined by the development and the direction of the breakdown of the range :

  • resistance level of 1.1140 (Median Line of the Minor operational scale fork);
  • support level of 1.1110 (lower boundary of the ISL38.2 equilibrium zone of the Minuette operational scale fork).

In case that the EUR / USD breaks the lower boundary of ISL38.2 (support level of 1.1110) of the equilibrium zone of the Minuette operational scale fork, then the downward movement can be directed to the boundaries of the 1/2 Median Line Minuette channel (1.1060 - 1.1010 - 1.0965) with the prospect of reaching the SSL start line Minuette (1.0895).

On the contrary, the breakdown of the resistance level of 1.1140 (Median Line of the Minor operational scale fork) - the development of the movement of the single European currency can be continued towards the goals - the Median Line channel of Minuette (1.1180) - the final Schiff Line Minuette (1.1195) - the upper boundary of ISL61.8 (1.1250) of the equilibrium zone of the Minuette operational scale fork with a probability of reaching a maximum of 1.1412.

The details of the EUR / USD movement options from October 23, 2019 are shown in the animated chart.

analytics5daf222523962.jpg

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Great Britain pound vs US dollar

The development of Her Majesty's GBP / USD currency movement from October 23, 2019 will also be due to the development and direction of the breakdown of the range :

  • resistance level 1.2945 on the final Schiff Line Minuette;
  • support level of 1.2875 on the Median Line Minuette operating scale fork

The breakdown of the Median Line Minuette operational scale fork (support level of 1.2875) - development of Her Majesty's currency movement can be continued towards the goals - lower boundary of ISL38.2 (1.2685) of the equilibrium zone of the Minuette operational scale fork - 1/2 Median Line channel of the Minuette operational scale fork (1.2520 - 1.2390 - 1.2260).

On the contrary, if a breakdown occurs in the final Schiff Line Minuette (resistance level of 1.2945), then the upward movement of GBP / USD will be directed to the targets - the upper boundary of the ISL61.8 (1.3085) equilibrium zone of the Minuette operational scale fork - the lower boundary of ISL38.2 (1.3295) equilibrium zone of the Minor operational scale fork - maximum 1.3379.

The details of the GBP / USD movement from October 23, 2019 can be seen in the animated chart.

analytics5daf224513f24.jpg

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US Dollar vs Japanese yen

The movements of the USD / JPY currency from October 23, 2019 will continue in the a Median Line (109.00 - 108.10 - 107.20) of the Minor operational scale fork. The details of the movement inside the specified channel 1/2 Median Line are presented in the animated chart.

In case of breakdown of the upper boundary of the 1/2 Median Line channel Minor (resistance level of 109.00) and updating the local maximum 109.33, it will become possible for the currency of the "land of the rising sun" to reach the boundaries of the equilibrium zone (109.55 - 110.90 - 112.35) Minor operational scale fork.

On the other hand, a combined breakdown of the lower boundary of the 1/2 Median Line channel (support level of 107.20) of the Minor operational scale fork and the 1/2 Median Line channel of Minuette (107.05) will determine the option to continue the development of the downward movement of USD / JPY to the lower boundary of the equilibrium zone of the ISL38.2 (106.50) Minuette operational scale fork and SSL Minor start line (105.80) with the prospect of reaching the SSL Minuette start line (104.65).

We look at the details of the USD / JPY movement in the animated chart.

analytics5daf2264a88fc.jpg

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The review is made without taking into account the news background. Thus, the opening of trading sessions of major financial centers does not serve as a guide to action (placing orders "sell" or "buy").

The formula for calculating the dollar index :

USDX = 50.14348112 * USDEUR0.576 * USDJPY0.136 * USDGBP0.119 * USDCAD0.091 * USDSEK0.042 * USDCHF0.036.

where power factors correspond to the weights of the currencies in the basket:

Euro - 57.6% ;

Yen - 13.6% ;

Pound Sterling - 11.9% ;

Canadian dollar - 9.1%;

Swedish Krona - 4.2%;

Swiss franc - 3.6%.

The first coefficient in the formula leads the index to 100 at the start date of the countdown - March 1973, when the main currencies began to be freely quoted relative to each other.

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