Analytic reviews

Analytics based on round levels, price channels and modified wave analysis.

EURNZD

The round minor level 1.7520 is holding back sellers. A descending truncated pattern has formed. Bullish divergence has formed on Awesome Oscillator, while the moving averages of Stochastic Oscillator have left the oversold zone.

EURNZD rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated pattern.

Stop Loss below the support level 1.7520.

Target levels: 1.7720; 1.7926.

EURUSD

The pair found support at 1.1620 amid a surge in demand for risk assets on Monday following the release of strong manufacturing data in Germany and the eurozone. In addition, the market believes that Joe Biden is likely to win, who is perceived by investors as the more convenient candidate for the financial markets.

Technical side:

The price is below the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the 50% level and indicates a weaker of growth. Stoch are growing steadily.

EURUSD rate online:  monitor the price movement in real time.

Trading recommendations:
Buy the pair after it breaks above 1.1660 with a probable rise to 1.1715.

Monday, November 2nd, today’s news—China's manufacturing activity in October grew at the fastest pace in a decade. Asia-Pacific markets rose, European markets slip amid the new lockdowns and the US election uncertainty, oil is down 3%, gold is rising. The price of Brent oil is $36.80, WTI—$34.55, EUR/USD is at 1.1625, GBP/USD—1.2861, gold is $1,882.60 per ounce.

Futures contracts for gold prices fluctuated in a narrow range that tends to rise during the Asian session, to witness its retracement of the third session from its lowest since September 28, overlooking the rise of the US dollar index to its highest since the end of the same month according to the inverse relationship between them following developments and economic data that followed them on The Chinese economy is the largest consumer of the mineral in the world at the weekend and on the cusp of economic developments and data expected on Monday by the US economy, the largest economy in the world.

At exactly 05:55 am GMT, gold futures contracts for next December delivery rose 0.17% to trade at $ 1,880.20 an ounce compared to the opening at $ 1,877.00 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Last week's trading was at $ 1,879.90 per ounce, while the US dollar index rose 0.12% to 94.17, compared to the opening at 94.06.

Last Saturday, we followed up on the disclosure of the China Federation of Logistics and Procurement (CFLP) of the industrial and service sector data for the past month, which indicated that the expansion of the industrial sector decreased to a value of 51.4 in line with expectations compared to 51.5 in the previous reading of last September, and the expansion of the service sector to its value 56.2 is also in line with expectations versus 55.9 in September.

On the other hand, the markets are looking to unveil the final reading of the manufacturing PMI by Markit from the United States, which may reflect the stability of the expansion at a value of 53.3, unchanged from the initial reading for the past month and compared to 53.2 in September, before we witnessed before. The US economy released its construction spending index reading, which shows growth slowing to 1.0%, compared to 1.4% in August.

This comes in conjunction with the disclosure by the largest industrial country in the world of a reading of the Institute for Industrial Supply Index, which may show an expansion to a value of 55.6 compared to 55.4 in September, while the reading of the same index measured by prices may indicate a decrease in the breadth to a value of 60.5 compared to 62.8 in September, and in another context, the markets are looking forward to tomorrow's US presidential elections in the United States of America.

Technical analysis

Gold price continues to fluctuate around 1882.40, and it needs to stabilize below this level to keep the bearish trend scenario valid for the upcoming period, as its breach will push the price to test 1901.80 before any new attempt to decline.

The SMA 50 continues to press negatively on the price, while the stochastic oscillator begins to provide negative signals now, and therefore, we believe that opportunities are available to resume negative trades today, noting that our targets start with testing 1860.90, whose break represents the key to the rally towards 1794.85 as a next negative target.

The expected trading range for today is between 1850.00 support and 1895.00 resistance.

The expected general trend for today: Bearish.

The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its lowest since July 20 against the US dollar, following the developments and economic data that they followed on the Australian economy and on the cusp of economic developments and data expected today, Monday, by the US economy, the largest economy in the world. In the shadow of market pricing of the second wave of the Coronavirus outbreak.

At exactly 04:25 AM GMT, the Australian dollar against the US dollar fell 0.26% to 0.7014 levels compared to opening levels at 0.7032, after the pair achieved its lowest level in four months at 0.6997, while it achieved its highest during the session at 0.7033, Knowing that the pair started trading on a rising gap after ending last week’s trading at 0.7028 levels.

We followed up on the Australian economy the release of the manufacturing index reading by the Australian Industrial Group (AIG), which showed an expansion at a value of 56.3 compared to a contraction of 46.7 in the previous reading for the month of September, and we would like to indicate that the reading is at a value of 50 or Higher reflects the widening of the sector, while its issuance of less than 50 reflects the sector's contraction.

This came before we witness the disclosure of housing market data, with the release of the construction permits reading, which showed a 15.4% increase compared to a 2.3% decline last August, contrary to expectations for a 1.5% rise, while the annual reading of the same index showed an acceleration of growth to 8.8% compared to 0.6. This coincided with the release of the home loan index, which reflected a slowdown in growth to 6.0%, compared to 13.6% in August.

This also came in conjunction with the Melbourne Institute (MI) disclosure of the inflation gauge reading, which showed a contraction of 0.1% versus 0.1% in September, while the annual reading of the same index showed slowing growth to 1.1% from 1.3%, and the release of the announcements index reading. Employment, which showed an acceleration of growth to 9.4%, compared to 8.3% in September.

On the other hand, the markets are looking to unveil the final reading of the manufacturing PMI by Markit from the United States, which may reflect the stability of the expansion at a value of 53.3, unchanged from the initial reading for the past month and compared to 53.2 in September, before we witnessed before. The US economy released its construction spending index reading, which shows growth slowing to 1.0%, compared to 1.4% in August.

This comes in conjunction with the disclosure by the largest industrialized country in the world of a reading of the Industrial Supply Institute index, which may show an expansion to a value of 55.6 compared to 55.4 in the previous reading for the month of September, while the reading of the same index measured by prices may indicate that the expansion has decreased to a value of 60.5 compared to 62.8 In September, otherwise, markets are looking forward to tomorrow's US presidential election actions in the US.

Technical analysis

The Australian dollar against the US dollar shows further decline, to gradually creep towards our second awaited target at 0.6964, supported by the negative pressure that the MA 50 represents, awaiting a further decline in the upcoming sessions.

The descending channel that appears in the image supports the chances of surpassing the aforementioned target and achieving more negative targets in the longer term, while the expected decline will remain intact unless the price pushes to breach 0.7140 and stabilize above it.

The expected trading range for today is between 0.6940 support and 0.7060 resistance

The expected general trend for today: Bearish

Aeroflot continues its descending path after breaching the support 68.30 and moving towards the level of 50.60, which is the target for the downside movement.

The price continues to move below the moving averages 507-20- which moves in a bearish order above the price near the 68.31 resistance level and pressures the price for further decline.

The stochastic oscillator is trying to exit the oversold zone in an attempt to stop the drop in the price.

General path of movement: a downtrend.

#BA

A descending pattern has formed, which is currently truncated. Moving averages of Stochastic Oscillator are in the oversold zone. A breakout of the downward sloping channel pattern will result in its completion and the price will be able to recover after the drop caused by the pandemic crisis.

#BA rate online: monitor the price movement in real time.

Trading recommendations
Buy when a rising wave pattern is formed, where wave (A) breaks the downward sloping channel pattern.

Stop Loss: below the local minimum (140.00).

Target levels: 190.06; 231.60.

CADCHF

The currency pair is trading in the range of the upper limit of the descending price channel. The ascending H2 level pattern is truncated. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals an overbought condition. A breakout of 0.6859 will result in the formation of a descending wave pattern within the descending price channel.

CADCHF rate online: monitor the price movement in real time.

Trading recommendations:

Sell at a breakout of 0.6859.

Stop Loss: 0.6890.

Target levels: 0.6828; 0.6800.

If the maximum is retested or 0.6890 is brokenю, cancel the trading plan.

EURUSD

The pair declines as the demand for risk assets falls and investors are cautious ahead of the US presidential election amid the second wave of the COVID-19 pandemic.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is on the border of the oversold zone. Stoch are also in this zone, but are uninformative.

EURUSD rate online: monitor the price movement in real time.

Trading recommendations:

Expect the price to continue down to 1.1615, and then to 1.1585.

Friday, October 30th, today’s news—Apple and Amazon shares drop following disappointing earnings, Dow is down by nearly 500 points. Asian and European markets followed, the pandemic continues to weigh on the latter, eurozone GDP to be released today, oil extends losses, gold is up on the weak dollar. The price of Brent oil is $38.47, WTI—$36.27, EUR/USD is at 1.1671, GBP/USD—1.2928, gold is $1,869.40 per ounce.