Indicator analysis. Daily review on November 6, 2019, on the EUR / USD currency pair.

Trend analysis (Fig. 1).

On Wednesday, the price, from the level of 1.1075, may continue to move down with the target of 1.1030 - a pullback level of 50.0% (red dashed line). In case of breaking through, continued work down with the target of 1.0995 is a retracement level of 61.8% (red dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - down;

- Weekly schedule - down.

General conclusion:

On Wednesday, a downward movement is possible.

The first lower target 1.1030 is a pullback level of 50.0% (red dotted line). In case of breaking through, continued work down with the target of 1.0995 is a retracement level of 61.8% (red dashed line).

The upper scenario - from the level 1.1075, work up with the target 1.1088 - resistance line (red bold line) and further up to 1.1126 - historical resistance level (blue dashed line).

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

GBP/USD: plan for the European session on November 6. Bears failed to cope with the 1.2875 support. Traders are waiting for

To open long positions on GBP/USD you need:

Data on the service sector yesterday only provided temporary support to the pound, however, the bulls did their job and managed to keep trading above the support level of 1.2875, on which the further movement of the pair depends. Much will be decided by the first results of polls in the UK regarding elections. Nothing has changed much from a technical point of view. Only the formation of a false breakout in the support area of 1.2875 will be the first signal to open long positions. Otherwise, purchasing is best done after updating the area of 1.2845, but it is better to immediately rebound from the major low of last week at 1.2807. A secondary task of the bulls will be a return to the resistance of 1.2913, consolidating on which will lead to a larger upward momentum of the pair in the area of highs 1.2941 and 1.2971, where I recommend profit taking.

To open short positions on GBP/USD you need:

Sellers will expect to consolidate the pair below support at 1.2875, which could push the pound further to the area of larger lows 1.2845 and 1.2807, where I recommend profit taking. The further upward trend will depend on how the bears show themselves in the support area of 1.2807. Important fundamental statistics are not expected to be released today, so traders will focus on any news regarding the UK election. A more important task for sellers, in case of growth, will be to keep the pair below the resistance of 1.2913, the formation of which a false breakout will act as the first signal to sell the pound. However, selling GBP/USD immediately for a rebound is best done from a high of 1.2941.

Signals of indicators:

Moving averages

Trading is below 30 and 50 moving averages, which indicates a possible decline in the pound in the short term.

Bollinger bands

A break of the lower boundary of the indicator at 1.2865 will increase pressure on the pound. Growth will be limited by the upper level of the indicator at 1.2905.

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Description of indicators

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

Overview of GBP/USD on November 6th. Forecast according to the "Regression Channels". The British Parliament is dissolved.

4-hour timeframe

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Technical data:

The upper channel of linear regression: direction – upward.

The lower channel of linear regression: direction – upward.

The moving average (20; smoothed) – sideways.

CCI: -83.6173

The British pound paired with the US dollar also reversed the downward trend, settling below the moving average line. However, the movement that the pound is now showing is difficult to characterize in any specific way. Volatility, if not minimal, is close to it. There is no trend as such. Both channels of linear regression are directed upwards, but the pair is located below the moving average line. From a fundamental point of view, circumstances are no better. Brexit is paused, the British Parliament will be officially dissolved today, all political parties will begin to prepare for, possibly, the main elections in the history of the country, respectively, their thoughts will not be occupied with the "divorce" process with the EU, but with the victory in the elections. Perhaps this is why the British currency has shown such weak and unconvincing movements in recent weeks. As for macroeconomic statistics, the UK has long been on vacation. Over the past two weeks, this country has received data only on business activity in various areas and we cannot say that they pleased traders. It seems that market participants did not even pay much attention to these figures. And in America, there are no major publications scheduled for today. Will the calm continue?

Meanwhile, in the UK they said they would not ask Brussels to extend the so-called "transition period" after Brexit did take place. Recall that under the previous agreement, the "transition period" should last until December 31, 2020, and before the expiration of this time, the parties should enter into a trade agreement and discuss all other aspects of cooperation in the new format. By agreement of October 17, the UK has the right to request a one-time extension of the "transition period" from the European Union for two years. The source of such a statement was not reported, however, according to experts, it is close to Boris Johnson. Also, many British experts expect long and painful negotiations on a free trade agreement between the EU and the Kingdom. According to some, new negotiations may last several years. It is likely that after Brexit (if it takes place at all), we will witness new epics under the names "Transition period" and "Negotiations on a trade agreement."

Well, Boris Johnson's main opponent, Jeremy Corbyn, responded to his criticism of him and his party. Johnson previously accused Corbyn that the leader of the Labor Party does not have a clear plan for Brexit, likes to criticize other people's plans, which took a lot of time, he does not offer anything useful for the country. As part of the campaign ahead of the snap election on December 12, Corbyn spoke out and presented his party as an advocate for workers across the country and a guarantor of Britain's welfare. "Prime Minister Boris Johnson is using Brexit to fuel Thatcherism on steroids," the opposition leader said, referring to Margaret Thatcher, who once privatized many businesses. Margaret Thatcher was never popular among the working class. This is exactly what Jeremy Corbyn wants to play on to get as many votes as possible in the upcoming election.

Well, the next five weeks will be about politics in the UK. We continue to believe that in these very five weeks, there is a high probability that the pound will resume its decline. First, there are no grounds for growth now, neither fundamental nor technical. Secondly, we did not see a normal correction after the rise of the pound/dollar currency pair by 800 points. Thus, at a minimum, we expect a decline in the area below the level of 1.2800.

Nearest support levels:

S1 – 1.2878

S2 – 1.2848

S3 – 1.2817

Nearest resistance levels:

R1 – 1.2909

R2 – 1.2939

R3 – 1.2970

Trading recommendations:

The GBP/USD pair has consolidated below the moving average line, but what is happening in the market now falls more under the definition of "flat". Formally, traders can consider selling the pound with targets of 1.2848, 1.2817 and 1.2787. We would not recommend doing this in large volumes, as both trend channels of linear regression remain directed upwards. However, the most preferable is the downward movement of the pair in the coming days.

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

Explanation of the illustrations:

The upper channel of linear regression – the blue line of the unidirectional movement.

The lower channel of linear regression – the purple line of the unidirectional movement.

CCI – the blue line in the regression window of the indicator.

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

Support and resistance – red horizontal lines.

Heiken Ashi – an indicator that colors bars in blue or purple.

Possible variants of the price movement:

Red and green arrows.

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

EUR/USD: plan for the European session on November 6. Pressure on the euro may weaken. Divergence on the MACD indicator and

To open long positions on EURUSD you need:

Yesterday's eurozone reports disappointed traders. Today there is a series of data on the services sector of the eurozone countries along with the composite PMI index, which may support the euro in the morning. An update of the level of 1.1050 with confirmation of the divergence, which is now being formed on the MACD indicator, will be a direct signal to open long positions in the expectation of a return to a resistance of 1.1082. However, it will be possible to count on a larger upward correction only after the growth and consolidation of EUR/USD above 1.1082, which will lead to an update of the high of 1.1104, where I recommend profit taking. In the absence of demand for the euro in the region of a low of 1.1050, it is best to count on new long positions on a rebound from support of 1.1026 and 1.0994.

To open short positions on EURUSD you need:

Sellers coped with all the tasks set at the beginning of the week, and now is the time to retreat from the market for a small correction. However, the calculation so far is based on data on the service sector, which may also show a slowdown due to the manufacturing sector. The formation of a false breakout in the resistance area of 1.1082 will be another signal to sell the euro in order to update the support of 1.1050, where I recommend profit taking. However, do not forget about the high probability of divergence on the MACD indicator, which can form after a test of level of 1.1050. Only its real breakdown will lead to a larger sale of EUR/USD to the area of lows 1.1026 and 1.0994. If the data turns out to be better than economists' forecasts, and the bulls regain the level of 1.1082, it is best to count on short positions after updating the highs of 1.1104 and 1.1129.

Signals of indicators:

Moving averages

Trading is conducted below 30 and 50 moving averages, which indicates a bearish nature of the market.

Bollinger bands

In case of growth, the upper boundary of the indicator in the region of 1.1120 will act as resistance. In case of decrease, support will be provided by the lower boundary of the indicator in the region of 1.1050.

analytics5dc263d1aa007.png

Description of indicators

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

Elliott wave analysis of GBP/JPY for November 6 - 2019

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As long as key-resistance at 140.74 is able to cap the upside, we can expect more downside pressure towards 138.64. It is likely to advance to 137.74 in order to complete the correction in blue wave ii. Once this correction is complete renewed strength is expected for a rally towards 144.98 and much higher in the long-term.

Only a direct break above 140.74 will indicate completion of the correction and the beginning of a new impulsive rally to 144.98.

R3: 141.58

R2: 141.15

R1: 140.74

Pivot: 140.35

S1: 140.21

S2: 139.74

S3: 139.26

Trading recommendation:

We will buy GBP at 137.85 or upon a break above 140.74

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

Elliott wave analysis of EUR/JPY for November 6 - 2019

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EUR/JPY tested short-term key-resistance at 121.26 yesterday. However, it was not able to break through. That is why the possibility of more downside pressure looks quite likely. That said, we will likely only see a dip into minor support in the 120.49 - 120.66 area before the pair undertakes the next attempt to break above short-term key resistance and more importantly above resistance at 121.47 for a continuation higher to at least 123.55 and 129.50 in the long-term.

Only an unexpected break below 120.26 will change our 119.87 corrective target. Then, it will continue its upward trend.

R3: 121.78

R3: 121.48

R1: 121.26

Pivot: 120.93

S1: 120.66

S3: 120.49

S1: 120.26

Trading recommendation:

We are long EUR from 117.25 with our stop placed at 119.00

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Overview of EUR/USD on November 6th. Forecast according to the "Regression Channels". The signing of an agreement between

4-hour timeframe

analytics5dc2543e808da.png

Technical data:

The upper channel of linear regression: direction – sideways.

The lower channel of linear regression: direction – upward.

The moving average (20; smoothed) - sideways.

CCI: -51.6646

The second trading day of the week ended quite unexpectedly with a significant drop in the European currency. Yesterday, we already said that the euro did not have any factors of decline as such, and the main reason was called the general economic condition of the States and the EU (in favor of the States), as well as technical factors (in favor of a new downward trend). Of course, in the forex market, everything can change in a matter of hours. That is, it is impossible to say with 100% certainty that the way for the pair is only one – down. However, we believe that this is the most likely scenario. Volatility rose slightly.

On Wednesday, November 6, all macroeconomic reports will be published in the European Union. This is not to say that they carry an increased degree of importance, but recently both traders and heads of central banks like to pay attention to business activity. Thus, business activity in the services sectors of the eurozone countries is very interesting data that can affect the course of trading. In addition to the services sector, composite indices of business activity (the arithmetic mean between the sphere of production and services) will also be published. As we have said many times, a value above 50 is considered positive. According to experts, all five indices published today will be above this critical value. There seems to be no cause for concern, but business activity may continue to slow down (this is not yet indicative of downturns in services), which may be perceived negatively by traders. A little later, data on retail sales in the European Union will be published. It is also a secondary indicator that should not be overlooked. There may not be any reaction to it (especially if forecasts are exceeded), but a weak value can serve as an impetus for new sales of the euro/dollar pair.

Separately, we can discuss the topic of ongoing trade negotiations between China and the United States. According to the latest information, Beijing and Washington may conclude a "first phase" trade deal as early as this month. However, what conditions will be spelled out in this agreement is not reported. What concessions will be made by both sides? All according to the same information, China wants the abolition of as many duties on its goods as possible in the framework of the conclusion of the "first phase". What will Trump answer to this? So far, both sides have only announced "good" progress in the negotiations, but there are no details. Moreover, the US dollar has always reacted rather weakly to any messages related to the escalation or de-escalation of the trade conflict with Beijing. That is, yes, this is extremely important news that is directly reflected in the macroeconomic indicators of China and America. However, traders work out precisely the worsening statistics from these countries, and not the very fact of a breakthrough in the negotiations or a failure. Thus, even if the parties sign the agreement in November, this will not affect the chart of the euro/dollar currency pair. But when the positive effects of this signing are received, then it will be possible to count on an increase in indicators in the USA and, accordingly, demand for the American currency may increase significantly. We have already said that the euro can show growth now only on negative data from overseas. If the trade conflict between the States and China ends, this will inevitably lead to economic growth, respectively, the euro can become cheaper even more than now. Regarding the likelihood of a trade agreement, we believe that the parties will agree. Trump needs this, which means he will do his utmost to agree until the moment when his defeat in the 2020 elections can be publicly announced.

From a technical point of view, the trend is now downward. Accordingly, short positions are more preferable. None of the channels of linear regression is directed downwards, but the bears show their strength and readiness to move downwards again.

Nearest support levels:

S1 – 1.1108

S2 – 1.1047

S3 – 1.0986

Nearest resistance levels:

R1 – 1.1169

R2 – 1.1230

R3 – 1.1292

Trading recommendations:

The euro/dollar pair overcame the moving, the Murray level of "6/8" is also overcome. Thus, it is now recommended to trade lower with the nearest target of 1.1047. If it is overcome, it will be possible to buy the dollar with the target of 1.0986. It is not recommended to return to purchases now, for this purpose there are neither fundamental nor technical bases.

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

Explanation of the illustrations:

The upper channel of linear regression – the blue line of the unidirectional movement.

The lower channel of linear regression – the purple line of the unidirectional movement.

CCI – the blue line in the indicator window.

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

Support and resistance – red horizontal lines.

Heiken Ashi – an indicator that colors bars in blue or purple.

Possible variants of the price movement:

Red and green arrows.

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

Technical analysis: Important intraday Level For EUR/USD, November 06,2019

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When the European market opens, some dconomic reports such as Retail Sales m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI, and German Factory Orders m/m will be published. The US will release such economic data as Crude Oil Inventories, Prelim Unit Labor Costs q/q, and Prelim Nonfarm Productivity q/q.So, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1123. Strong Resistance: 1.1117. Original Resistance: 1.1106. Inner Sell Area: 1.1095. Target Inner Area: 1.1069. Inner Buy Area: 1.1043. Original Support: 1.1032. Strong Support: 1.1021. Breakout SELL Level: 1.1015. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Important intraday Level for USD/JPY, November 06,2019

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Japan will release the 10-y Bond Auction, Monetary Policy Meeting Minutes while the US will publish such economic data as Crude Oil Inventories, Prelim Unit Labor Costs q/q, and Prelim Nonfarm Productivity q/q. So, there is a probabilitythat the USD/JPY pair will move with low to medium volatility during this day.TODAY'S TECHNICAL LEVEL: Resistance. 3:109.63. Resistance. 2:109.43. Resistance. 1:109.21. Support. 1:108.94. Support. 2:108.73. Support. 3:108.51. (Disclaimer)

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Control zones USDCAD 11/06/19

The upward movement remains a medium-term impulse, which indicates the need to keep open purchases. Yesterday, the pair tested the weekly control zone 1/2's crucial support which is 1.3120-1.3112, which led to an increase in demand. Now, the main goal of the upward movement is the Weekly Control Zone 1.3231-1.3213.

analytics5dc2518990757.png

This week, the formation of the medium-term accumulation zone is observed. It is important to pay attention to weekly extremes.

For the formation of an alternative model, the absorption of yesterday's growth will be required. The probability of this event is below 30%, which makes the sale of the instrument unprofitable until the pair reaches a weekly control zone. However, purchases from the middle of the flat range are also not profitable due to the ratio of risk to profit, which will be below 1/3.

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Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.

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

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

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Forecast for EUR/USD on November 6, 2019

EUR/USD

The euro closed the day down by 51 points yesterday. Business media point out the reason for the optimistic sentiment among investors regarding the upcoming US and China trade deal and good October ISM Non-Manufacturing PMI, which rose from 52.6 to 54.7. But with a broad view of the market, it is clear that investors are far from experiencing the interest in risk that was on Friday after the release of US employment data. The Dow Jones stock index grew just 0.11%, while the S&P 500 fell 0.12%. The general mood for dollar purchases remains, and it is characteristic that the price has not reached the levels at which the massive closing of euro purchases began on October 22 and 24, which we spoke about at the time.

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The decline in the euro stopped at the Fibonacci level of 123.6% at the lows of October 25-29. There may be a respite before the subsequent downward movement. The signal line of the Marlin oscillator penetrates into the negative trend zone. After a respite, we are waiting for prices to fall to the MACD line at around 1.1027. We admit corrective growth to the price channel line near 1.1104.

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The situation is completely declining on the four-hour chart: the price is under the lines of balance and MACD, the Marlin oscillator is developing in the territory of the declining trend.

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Forecast for GBP/USD on November 6, 2019

GBP/USD

The price of the British pound has not significantly changed by the end of Tuesday. As a result, this was reflected in the strengthening of technical signs to a further decrease. The Marlin oscillator on the daily chart is about to enter the negative trend zone. Leaving the price below the signal level of 1.2840 opens the way to lower target levels that can be taken sequentially: 1.2748 (the October 17 low), 1.2703 (the October 11 high), 1.2650 (the October 14 high).

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On the H4 chart, the price has consolidated under the balance indicator line, Marlin is in the declining trend zone. We look forward to continued fall of the British pound. Formally, the price remains in the range of uncertainty at 1.2840-1.2905.

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Forecast for AUD/USD on November 6, 2019

AUD/USD

On Tuesday, the price pierced the resistance of the trend line of the price channel on the daily chart for the fourth consecutive session. The way out of the resistance was unsuccessful and a reversal divergence formed on the Marlin oscillator. At the same time, the signal line of the oscillator came out of its own channel (turquoise) down. The aim of the decrease is the price level at 0.6810, at which the support of October 24-28, the MACD line and the price can meet.

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On a four-hour chart, the price has consolidated below the MACD line, the Marlin indicator shows a steady decline in the trend, the price remains consolidated under the red line of balance. This is likely to happen with the price breaking yesterday's low (0.6878).

analytics5dc24a8458dd4.png

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EUR/USD approaching support, potential for strong bounce!

EURUSD is approaching our first support where we are expecting a strong bounce above this level.

Entry: 1.10255

50% Fibonacci retracement, 61.8% Fibonacci extension

Take Profit : 1.11014

Why it's good : 50% Fibonacci retracement

analytics5dc23678dd813.png

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

NZD/USD reacting above support

NZDUSD bounce above support at 0.63335

Entry: 0.63570

78.6% Fibonacci retracement, 100% Fibonacci extension

Take Profit : 0.64310

Why it's good : 61.8% Fibonacci retracement

analytics5dc23623b583d.png

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USD/JPY to reach 1st resistance at 109.39, potential to drop!

Take Profit 109.39

Why it's good: Horizontal swing high resistance

78.6% Fibonacci extension

Take Profit : 107.70

Why it's good : horizontal swing low support

50% Fibonacci retracement

61.8% Fibonacci extension

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#USDX vs EUR / USD vs GBP / USD vs USD / JPY (H4). Comprehensive analysis of movement options from November 06, 2019 APLs

What the market is preparing for us - #USDX, EUR / USD, GBP / USD and USD / JPY (H4) - A comprehensive analysis of the options for the movement of currency instruments from November 06, 2019

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Us dollar index

From November 6, 2019, the development of the #USDX dollar index movement will be determined by working out the boundaries of the 1/2 Median Line channel (97.75 - 97.55 - 97.30) Minuette operational scale forks. The markup for this movement is shown on the chart.

The breakdown of the resistance level of 97.75 at the upper boundary of the 1/2 Median Line Minuette channel will determine the continuation of the development of the upward movement of the dollar index to the boundaries of the 1/2 Median Line channel (98.25 - 98.60 - 98.95) of the Minute operational scale fork and the equilibrium zone (98.45 - 98.80 - 99.10) Minuette operational scale fork.

On the contrary, the breakdown of the support level of 97.30 on the lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks will direct the movement #USDX to the targets - Median Line Minuette (97.10) - the lower border of the ISL61.8 (96.55) equilibrium zone of the Minuette operational scale forks with the prospect of reaching the local minimum 95.85.

The details of the movement #USDX are presented on the chart.

analytics5dc1a38c8f9d9.jpg

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Euro vs US dollar

The trend of the further development of the movement of the single European currency EUR / USD from November 6, 2019 will be determined by the direction of the breakdown of the range :

- resistance level of 1.1130 (the initial SSL line of the Minuette operational scale forks);

- support level of 1.1110 (upper boundary of the 1/2 Median Line Minuette channel).

The breakdown of the support level of 1.1110 - the development of the EUR / USD movement will continue in the 1/2 Median Line Minuette channel (1.1110 - 1.1080 - 1.1050), and in case of breakdown of the lower boundary (1.1050) of this channel, it will be possible for the common European currency to reach the boundaries of the equilibrium zone (1.0995 - 1.0950 - 1.0905) of the Minuette operational scale.

In case of breakdown of the SSL initial line (resistance level of 1.1130) of the Minuette operational scale forks, the EUR / USD movement will develop to the resistance levels :

- 1.1180 (local maximum);

- 1.1185 (control line UTL Minuette);

- 1.1215 (the Median Line of the Minuette operational scale forks).

The details of the EUR / USD movement options are shown on the chart.

analytics5dc1a3aa2eafa.jpg

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Great Britain pound vs US dollar

From November 6, 2019, the development of Her Majesty's GBP / USD currency movement will depend on the development and direction of the breakdown of the 1/2 Median Line (1.3000 - 1.2915 - 1.2850) of the Minuette operational scale forks. The movement details inside the 1 /2 Median Line channel are presented on the animated chart.

In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.2850), the downward movement of GBP / USD can continue to the boundaries of the equilibrium zones of the Minuette operational scale forks (1.2720 - 1.2625 - 1.2535) and Minuette (1.2680 - 1.2535 - 1.2385).

Combined breakdown of resistance levels :

- 1.3000 (upper boundary of the 1/2 Median Line Minuette channel);

- 1.3030 (the initial line of SSL Minuette operational scale forks);

will make the development of Her Majesty's currency upward movement to the final line FSL (1.3165) of the Minuette operational scale relevant with the possibility of reaching the control line UTL Minuette (1.3270).

The details of the GBP / USD movement can be seen on the chart.

analytics5dc1a3cbe2264.jpg

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US dollar vs Japanese yen

The development and direction of the breakdown of the boundaries of the equilibrium zone (108.95 - 108.80 - 108.60) of the Minuette operational scale forks will determine the development of the USD / JPY currency movement of the "country of the rising sun" from November 6, 2019. The details of the movement inside the equilibrium zone can be seen on the chart.

The breakdown of the lower boundary of ISL38.2 (support level of 108.60) of the equilibrium zone of the Minuette operational scale forks - the USD / JPY movement will continue to the boundaries of the 1/2 Median Line Minuette channel (108.55 - 108.25 - 108.00) with the prospect of reaching the upper boundary of ISL38.2 (107.90) equilibrium zone of the Minuette operational scale forks.

On the contrary, in the event of a breakdown of the resistance level of 108.95 on the upper boundary of ISL61.8 of the equilibrium zone of the Minuette operational scale forks, it will be possible to continue the development of the upward movement of the currency of the country of the rising sun to the goals - the initial SSL line (109.15) of the Minuette operational scale forks - maximum 109.29 - control line UTL Minuette (109.40) - the final line of the FSL Minuette (109.55).

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

analytics5dc1a3f34c5f6.jpg

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The review is made without taking into account the news background. Thus, the opening of trading sessions of the main 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.

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Fractal analysis of the main currency pairs on November 6

Forecast for November 6:

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: 1.1108, 1.1091, 1.1080, 1.1061, 1.1045, 1.1034 and 1.1008. Here, the price has canceled the development of the upward structure and at the moment, we are following the development of the downward cycle of November 4. The continuation of movement to the bottom is expected after the breakdown of the level of 1.1061. In this case, the target is 1.1045. Price consolidation is in the range of 1.1045 - 1.1034. For the potential value for the bottom, we consider the level of 1.1008. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is expected in the range of 1.1080 - 1.1091. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.1108. This level is a key support for the downward structure.

The main trend is the downward structure of November 4.

Trading recommendations:

Buy: 1.1080 Take profit: 1.1090

Buy: 1.1092 Take profit: 1.1106

Sell: 1.1060 Take profit: 1.1045

Sell: 1.1032 Take profit: 1.1010

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For the pound / dollar pair, the key levels on the H1 scale are: 1.3148, 1.3102, 1.3037, 1.2986, 1.2947, 1.2868 and 1.2804. Here, we monitor the initial conditions for the top of October 29. At the moment, the price is in the correction zone. The continuation of the movement to the top is possibly after the breakdown of the level of 1.2947. Here, the first goal is 1.2986. The breakdown of the level of 1.2986 will lead to the development of an upward cycle of October 29. In this case, the target is 1.3037, wherein consolidation is near this level. The breakdown of the level of 1.3040 should be accompanied by a pronounced upward movement. Here, the target is 1.3102. For the potential value for the top, we consider the level of 1.3148. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Consolidated movement is expected in the range of 1.2910 - 1.2868. Hence, the high probability of a reversal to the top, as well as a breakdown of the level of 1.2868 will lead to the development of a downward trend. In this case, the potential target is 1.2804.

The main trend is the upward structure of October 29, the correction stage

Trading recommendations:

Buy: 1.2947 Take profit: 1.2985

Buy: 1.2986 Take profit: 1.3035

Sell: Take profit:

Sell: 1.2865 Take profit: 1.2805

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For the dollar / franc pair, the key levels on the H1 scale are: 1.0025, 1.0001, 0.9968, 0.9939, 0.9912, 0.9900 and 0.9879. Here, the price has canceled the development of the downward trend and at the moment, we are following the formation of the medium-term upward structure from November 1. The continuation of the movement to the top is expected after the breakdown of the level of 0.9940. In this case, the target is 0.9968. Price consolidation is near this level. The breakdown of the level of 0.9968 will lead to a pronounced movement. Here, the target is 1.0001. We consider the level of 1.0025 to be a potential value for the top. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9912 - 0.9900. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9879. This level is a key support for the upward structure.

The main trend is the medium-term upward structure from November 1

Trading recommendations:

Buy : 0.9940 Take profit: 0.9966

Buy : 0.9970 Take profit: 1.0000

Sell: 0.9912 Take profit: 0.9900

Sell: 0.9898 Take profit: 0.9880

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For the dollar / yen pair, the key levels on the scale are : 109.86, 109.66, 109.41, 109.24, 109.03, 108.89 and 108.67. Here, we continue to monitor the development of the upward cycle of November 1. Short-term upward movement is expected in the range of 109.24 - 109.41. The breakdown of the last value will lead to a pronounced movement. Here, the target is 109.66. For the potential value for the top, we consider the level of 109.86. Upon reaching this level, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 109.03 - 108.89. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.67. This level is a key support for the upward structure.

The main trend: the upward cycle of November 1.

Trading recommendations:

Buy: 109.25 Take profit: 109.40

Buy : 109.42 Take profit: 109.65

Sell: 109.03 Take profit: 108.90

Sell: 108.87 Take profit: 108.67

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3268, 1.3246, 1.3208, 1.3185, 1.3143, 1.3124 and 1.3101. Here, we monitor the medium-term upward structure from October 29, and also from November 5, the price issued local initial conditions for the top. Short-term movement to the top is expected in the range of 1.3185 - 1.3208. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.3246. For the potential value for the top, we consider the level of 1.3268. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 1.3143 - 1.3124. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3101. This level is a key support for the upward structure.

The main trend is the formation of initial conditions for the top of October 29.

Trading recommendations:

Buy: 1.3185 Take profit: 1.3206

Buy : 1.3209 Take profit: 1.3246

Sell: 1.3143 Take profit: 1.3126

Sell: 1.3122 Take profit: 1.3101

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6959, 0.6938, 0.6928, 0.6910, 0.6888, 0.6874 and 0.6854. Here, we are following the development of the local upward cycle of October 28. At the moment, the price is in correction. The continuation of the movement to the top is expected after the breakdown of the level of 0.6910. In this case, the target is 0.6928. Price consolidation is in the range of 0.6928 - 0.6938. For the potential value for the top, we consider the level of 0.6959. Upon reaching this level, we expect a pullback to the bottom.

Consolidated movement is possibly in the range of 0.6888 - 0.6874. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6854. This level is a key support for the top.

The main trend is the local structure for the top of October 28, the correction stage.

Trading recommendations:

Buy: 0.6910 Take profit: 0.6928

Buy: 0.6938 Take profit: 0.6959

Sell : Take profit :

Sell: 0.6873 Take profit: 0.6855

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For the euro / yen pair, the key levels on the H1 scale are: 121.46, 121.17, 121.00, 120.74, 120.22, 119.83, 119.55 and 119.38. Here, we monitor the downward potential of October 30. At the moment, the price is in the correction zone. The continuation of movement to the bottom is expected after the breakdown of the level of 120.22. In this case, the first goal is 119.83, before this value, we expect expressed initial conditions for the downward cycle. The breakdown of the level of 119.80 will lead to the development of the cycle. In this case, the goal is 119.55. Price consolidation is in the range of 119.55 - 119.38.

Consolidated movement is expected in the range of 120.74 - 121.00, The range of 121.00 - 121.17 is the key support for the descending structure of October 30. Its passage at a price will lead to the development of an upward trend. Here, the goal is 121.46.

The main trend is the downward potential of October 30.

Trading recommendations:

Buy: Take profit:

Buy: 121.18 Take profit: 121.44

Sell: 120.20 Take profit: 119.85

Sell: 119.80 Take profit: 119.55

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For the pound / yen pair, the key levels on the H1 scale are : 142.82, 141.23, 139.53, 138.70, 137.79 and 137.08. Here, the price is still in the equilibrium. The continuation of movement to the top is expected after the breakdown of the level of 141.23. 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, as well as consolidation, are possible 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, the formation of potential for the downward movement of October 21.

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

The euro has problems with growth and the pound, in this regard, is not so simple

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British Prime Minister Boris Johnson, who initiated the holding of early elections in December, believes that a confident Tory victory will allow him to easily negotiate a "divorce" agreement with the EU through an updated parliament. However, no one knows how fate will turn: if Labor comes to power, the United Kingdom may face a second referendum.

"The victory of the Conservative Party is considered positive for the pound. According to recent polls, the Tories take a leading position, but this was also observed before the 2017 elections, which eventually led to a "suspended parliament," said by the Bank of America Merrill Lynch.

The day before, the official representative of B. Johnson said that the government does not intend to extend the transition period after Brexit, which is scheduled until December 31, 2020 and during which London and Brussels will need to come to an agreement on the details of future cooperation and conclude a new trade agreement.

"Given that the final coordination of all issues related to Brexit within one year seems unrealistic, the end of the transition period will mean the exit of Foggy Albion from the EU without a deal. If B. Johnson's position on this issue remains unchanged, then during the election campaign, the pound to the US dollar may fall below $ 1.26, and in 2020 - return to $ 1.20, "said Bloomberg analyst Richard Jones.

The GBP / USD pair has been consolidating in the range of 1.28-1.30 for the third week.

The risk of selling a "hard" Brexit has recently declined significantly, but the uncertainty surrounding the outcome of the UK pre-election keeps the market participants from actively opening long positions on the pound and limits the growth of not only GBP/USD, but also the EUR/USD.

The single European currency has come under pressure due to disappointing corporate reporting from European banks. Weak financial results of Deutsche Bank and Credit Suisse provoked a fall in bank stock indices for the third quarter. Thus, the close correlation of the latter with EUR/USD allows Nordea Bank experts to predict a decrease in the main currency pair to 1.08 by the end of 2019.

However, in any currency pair there are always two monetary units as well as many fundamental factors that also influence its quotes.

In October, the main drivers of the upward trend in EUR / USD were the decrease in divergence in the growth of the American and European economies and the limited potential for easing monetary policy by the ECB and the progress in trade negotiations between the USA and the Middle Kingdom, which reduced the demand for protective assets, including the US currency. All the more surprising is the correction for EUR / USD against the background of an ongoing series of news on improving trade relations between Washington and Beijing.

According to the Financial Times, the White House is considering the possibility of lifting duties on Chinese goods worth $ 112 billion. Reuters reports that Beijing is putting pressure on Washington, calling for the abolition of all duties as quickly as possible. At other times, Donald Trump would most likely say "yes you never know what they want," but not now. Now, presidential elections are approaching, and the primary task of the head of state is to maintain the current rate of economic growth. The escalation of the trade conflict can significantly complicate this task.

As a result, the increasing political uncertainty in the UK is a negative moment for the single European currency, however, the main drivers for EUR / USD growth remain. In the near future, the boundaries of the medium-term consolidation range may be determined. It is possible that the main currency pair will be traded within 1.1000-1.1400 before the end of this year.

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The British pound was in limbo

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Uncertainty regarding Britain's exit from the European Union gave way to a high probability of a compromise agreement. This made it possible for the British currency to regain strength. However, experts urge not to count on the early growth of the pound, which is still at a loss.

Having received a respite during the debate over Brexit, sterling tried to overcome price barriers. However, it was not able to overcome everything. On the evening of Tuesday, November 5, the pound experienced strong volatility, rising in the moment to the level of 1.2900, but not holding on to its gains.

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Subsequently, the GBP/USD pair was trading within 1.2896–1.2898, however, here it was not able to gain a foothold.

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At some point, the pair fell to 1.2881, causing market concerns. It turned out that this is not the limit, as the GBP/USD pair in an effort to find the low had dropped to 1.2878–1.2879.

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As a result, the low in the form of the 1.2870 mark was reached. Having pushed off from it, the pound was counting on a rise that did not take long to wait.

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Now the pair runs near the levels of 1.2875–1.2876, but in the future, analysts predict the growth of the GBP/USD pair.

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Against this background, far from positive, the forecasts of analysts of the leading bank Credit Agricole look a bit fantastic. The financial institution raised expectations for the pound, putting the growth of the British currency to 1.3000. The bank explained its position by reducing the risk of "hard" Brexit and the likelihood of a successful outcome of new elections in the UK.

Credit Agricole believes that the British Conservative Party will receive a majority of the vote in the upcoming December elections. This will be the first step towards ratification of the Brexit deal in Parliament. Analysts expect Conservative policies to benefit the British economy and the pound. The British currency will be able to recover due to the growth of domestic demand, Credit Agricole said.

Currently, the economic situation in the country leaves much to be desired. PMI indices showing the state of the UK industrial and construction sectors have been below 50% in the last five months. According to analysts, this indicates a significant decline in the British economy. At the same time, the Bank of England does not reduce interest rates and does not redeem assets, acting contrary to global trends. However, investors are counting on a change in the position of the British regulator. If the Bank of England begins to reduce interest rates, sterling will move down, analysts said.

The ambiguity of the outcome of the new election prevents the pound from taking off and demonstrating what it is capable of. In the current situation, the expected pound volatility remains at 10%. According to analysts, it should not change. The British currency keeps on the wave of past optimism associated with the zero probability of a hard Brexit and election hopes. Analysts expect new elections to clarify the situation and help the pound strengthen.

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

Oil pulled from the bottom

In the oil market in early November, what was supposed to happen began to happen. Prices went up and reached a weekly high. When the growth rate of US production of black gold is reduced, and OPEC+ adheres to the conditions of the Vienna agreement, the prospects of Brent and WTI begin to depend on the dynamics of global demand. At the same time, progress in trade relations between the US and China was supposed to lead to an increase in futures quotes in October. But it didn't. Investors were worried not only about the world, but also about US oil demand.

When supply of black gold in the United States increased over seven of the last eight weeks, and macroeconomic statistics indicate a slowdown in GDP, think about the decline in US interest in oil. As soon as the understanding comes that not everything is as bad as is commonly believed, the bulls go on the attack. So it was after the publication of the report on the state of the US labor market in October. Employment outside the agricultural sector increased by more than 120 thousand with a forecast of +89 thousand, data for August and September were revised upward. The consumer in the United States is still strong and will show a high demand for oil products, which, with the number of drilling rigs from Baker Hughes falling to the lowest level since April 2017, allowed Brent and WTI to add more than 3.5% to their value per day.

The dynamics of US oil reserves and the number of rigs

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According to the latest OPEC forecasts, the cartel will gradually lose its market share. Its production in 2024 will be 32.8 million bpd. The indicator is not far from current levels, so it can be assumed that the Vienna agreement to reduce production will be prolonged not only in 2020, but also in subsequent years. OPEC believes that the US indicator over the next five years will grow from 12 million b/d to 16.9 million b/d and will peak at 17.4 million b/d in 2029. In my opinion, these estimates look too high. If in 2019, investments and the associated increase in the number of drilling rigs restrained the uncertainty surrounding the trade wars, then in 2020 the uncertainty will be associated with the presidential election in the United States. Despite a preventive cut in federal funds rates, a recession can still become a reality.

The situation with global demand, by contrast, will improve. The worst dynamics of Chinese GDP in three decades in the third quarter is forcing Beijing to increase fiscal and monetary stimulus. For the first time since 2016, Halyk Bank has reduced the medium-term lending rate from 3.3% to 3.25%, which should have a positive effect on both domestic demand and commodity prices.

Technically, on the Brent daily chart, the implementation of the Wolfe Wave and Double Bottom pattern continues. A breakthrough of resistance by $63.75 per barrel will increase the likelihood of continuing the rally to $71 and $73.3. Bulls will continue to control the situation on the North Sea oil market, at least until the futures quotes hold above $62 per barrel.

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Rumors rule the market: the dollar is spreading its wings, the yen is sinking

The Japanese currency fell under a wave of sales: paired with the dollar, the yen fell to the 109th figure, returning to October positions. For almost the entire past month, the USD/JPY pair traded within the price range of 108.40-108.90, and only at the beginning of November did the price drop to 107.90, following a meeting of the Bank of Japan. But the pair's bears could not develop a downward movement - the anti-risk sentiment in the market decreased significantly, and defensive tools, which are primarily the yen, were no longer in demand. The Swiss franc and gold likewise lost their position, reflecting the general sentiment of investors. This dynamics is due to several factors that are somehow related to the prospects of the negotiation process between the United States and China.

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It should be noted right away that there are still no obvious (official) reasons for optimism in this matter. At the same time, in recent times, numerous rumors have been circulating in the press that testify to the parties intentions to conclude a historic deal, thus ending the trade war. And if earlier the rumors circulated were contradictory, now they are quite homogeneous: information sources talk about the conclusion of the "first phase" of a trade deal between Washington and Beijing in the near future, possibly in November.

Each of the parties has its own reasons to make certain concessions. The arguments of China are obvious: according to the latest data, the level of GDP in the third quarter grew by only 6% year on year, after growing by 6.2% in the second quarter. This was the slowest growth over the past 27 years (!) and also below the forecast level - experts expected to see this indicator at around 6.1%. Obviously, the cooling of the global economy and the decline in China's GDP are links in one chain. Beijing continues to feel the effects of the global trade conflict.

The US economy also does not have immunity from a slowdown in the global economy. Recent data in industrial production eloquently testify to this fact - for example, the ISM manufacturing index fell to a 10-year low. There are also problems in the export sector and in the field of business investment. But the White House may make certain concessions to China for other political reasons. The next presidential election in the United States will be held in just a year, while sociology continues to remain on the side of the incumbent head of state. So, according to recent polls, if the election took place today, then Donald Trump would lose to any of the three Democratic leaders. For example, Joe Biden is immediately ahead of him by 12% (51% against 39%). Bernie Sanders could beat Trump with a score of 49% versus 41%, Elizabeth Warren - 46% versus 41%.

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However, in the six states that voted for the Republican in 2016, Trump is only two points behind Biden among registered voters, and this result remains within the sociological margin of error. The current president is two points ahead of Senator Elizabeth Warren, which corresponds to his victory over Hillary Clinton in these states three years ago.

In other words, despite the crushing, at first glance, ratings, Trump retains the chances of winning in 2020. But he needs a victory on the "Chinese front" - a path with even more significant concessions to earlier ambitions. The Chinese understand this very well, therefore, according to rumors, they put forward counter conditions. According to the American media, Beijing asked to cancel the fifteen percent duties that were introduced on September 1 and demanded to abandon the December increase in duties. Trump did not categorically refuse: the White House is now considering the proposal. If the US president makes these concessions, then his meeting in Xi Jinping may take place this month.

Here it is worth noting that some US news agencies, citing anonymous sources in the White House, have already managed to declare that Trump is inclined to go "on the world", agreeing to China's conditions. Actually, this is the basis for the US currency's growth with the simultaneous dying out of anti-risk sentiment.

Thus, the fundamental background has changed quite sharply in the foreign exchange market: this fact, on the one hand, made it possible for the dollar to strengthen throughout the market, and on the other hand, put significant pressure on the Japanese currency. The panic over Brexit's prospects also subsided. The lull will last until December 13th, when the results of the parliamentary elections to the House of Commons of the British Parliament become known.

In addition, today the dollar received an additional reason for its growth: the US ISM in the service sector recovered to around 54.7 after a record decline to 52.6. Against the backdrop of a general interest in risky assets, this fact served as an impulse to the growth of the USD/JPY pair.

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If rumors about a possible meeting of US and China leaders and the signing of the deal intensify, the yen will more actively lose its position. In the context of USD/JPY, this means that the pair has a growth potential to around 110.00 - this is the upper line of the Bollinger Bands indicator, which coincides with the upper boundary of the Kumo cloud on the weekly chart. The closest resistance level is the price of 109.30 - this is the upper line of the Bollinger Bands on D1.

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GBP/USD. November 5. Results of the day. The dissolution of the UK Parliament will take place tomorrow. The news calm begins

4-hour timeframe

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Amplitude of the last 5 days (high-low): 98p - 63p - 76p - 46p - 67p.

Average volatility over the past 5 days: 70p (average).

Tuesday, November 5th, passed for the GBP/USD pair in the same low-volatility movement as Monday, like the whole previous week. After the pair surged by 800 points, volatility sharply fell and now, although it is about 70 points a day, this is clearly not enough to form a new trend. There is still a low downward trend, but at the moment it is clearly not enough to start downward trading. The pair with grief fell in half below the Kijun-sen line and is now trying to overcome the Ichimoku cloud, which, in theory, will allow us to consider sell orders. At the same time, Bollinger Bands are more laterally directed than down, which preserves the possibility of lateral movement.

The fundamental background for the British currency is now reduced to news from overseas, to which, by the way, traders are not too willing to respond. For example, today's indexes of business activity in the US services sector remained, by and large, was ignored by traders. As for Britain itself, the fundamental calm has been maintained there for the past two weeks. For all this time, only business activity indices in the sphere of production, services and construction were published. Today the last of these three indices was published - in the service sector - it amounted to 50.0, which, however, also did not render any support to the British currency. We believe that the next five weeks will go in a moderately downward movement for the pound/dollar pair. There will be very little news on Brexit, but there will be a lot of political agitation, skirmishes, debates, and more. Actually, they have already begun. Boris Johnson called on Labour leader Jeremy Corbyn to dot the "and" and clearly state what kind of Brexit he and his party members want? What option will Corbyn adhere to if not a single party in the election succeeds in obtaining the necessary majority of votes? "For months, you tried to avoid explaining what your Brexit plan was, and instead spent a lot of time and energy on undermining the negotiations," Johnson said in an open letter to Corbyn. In addition, the leader of the Conservative Party suspects Corbyn of wanting to cancel his deal and sign his own. Of course, for this Jeremy Corbyn will need an unconditional victory in the election, but any options should be considered.

Well, the EU is now expecting complex negotiations on a trade deal after Brexit. This was stated by EU negotiator for Brexit Michel Barnier. "Britain should not think that a zero tariff, zero quotas will be enough," he said. Barnier also believes that a "hard" Brexit is still possible, so you need to be prepared for absolutely any outcome. Moreover, nobody knows the results of the December 12 elections.

We believe that after Brexit was pushed back for several months, the reasons for buying the pound again disappeared. So it has been repeatedly in the last three years of the saga of Brexit. If any favorable news, or even rumors, appeared, the pound showed growth. However, when the rumors were not confirmed, and the news was blocked by other negative data, the downward movement of the GBP/USD pair resumed with renewed vigor. Usually this led to updating lows. Tomorrow the calendar of macroeconomic events in the UK is again empty, but even on Thursday, when the results of the meeting of the Bank of England will be summed up, no high-profile statements and interesting news are expected. The British regulator is likely to leave the key rate unchanged, as well as the volume of asset buybacks from the open market. Mark Carney's speech will be the only thing of interest, in which traders will try to see and hear hints of lowering the key rate in the near future.

Trading recommendations:

GBP/USD is in a downward correction. Thus, it's best to wait for the wait for the clarification of the situation, until the low volatility segment of the trend ends. Long positions have lost their relevance, as the pair has consolidated below the critical line. However, any position now carries increased risks due to the obviously flat movement of the pair. Below the level of 1.2808, the chances of a downward trend will increase, and then we recommend considering to sell the pound.

Explanation of the illustration:

Ichimoku indicator:

Tenkan-sen is the red line.

Kijun-sen is the blue line.

Senkou Span A - light brown dotted line.

Senkou Span B - light purple dashed line.

Chikou Span - green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and bar graph with white bars in the indicator window.

Support / Resistance Classic Levels:

Red and gray dotted lines with price symbols.

Pivot Level:

Yellow solid line.

Volatility Support / Resistance Levels:

Gray dotted lines without price designations.

Possible price movements:

Red and green arrows.

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