Analytic reviews

EURUSD

The pair may correct downwards as the demand shifts from risk assets to safe-haven currencies: dollar, yen, the Swiss franc. The main negative factor is the lack of progress in the stimulus talks between Democrats and Republicans.

Technical side:

The price is above the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is below the overbought zone. Stoch are dropping.

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

Trading recommendations:

Sell the pair with a local target of 1.1800 after it goes below 1.1840.

#HOG

The 29.50 resistance level is holding back buyers. An ascending truncated pattern has formed. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals an overbought condition.

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

Trading recommendations:

Sell when a descending wave pattern has formed, where the wave (A) breaks through the inclined channel of the ascending truncated H1 level pattern.

Stop Loss beyond the resistance level 29.50.

Target levels: 27.20; 22.80.

GBPJPY

The 137.76 resistance level is holding back buyers. At the moment, the ascending patterns of the H8 and H2 levels are truncated. A bearish divergence has formed on Awesome Oscillator, while Stochastic Oscillator indicates an overbought condition.

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

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending pattern of the H2 level.

Stop Loss for the resistance level 137.76.

Target levels: 136.36; 135.65; 135.05.

Wednesday, October 21st, today’s news—the pound jumps after the EU's Brexit negotiator Michel Bernier said that the trade deal is within reach. Hopes for the new stimulus package in the US weigh on the dollar, but fail to inspire growth in the American and European markets, virus concerns are still a major factor. The price of Brent oil is $42.65, WTI—$41.17, EUR/USD is at 1.1846, GBP/USD—1.3048, gold is $1,920.55 per ounce.

The single currency, the euro, fluctuated in a narrow range sloping upward during the Asian session to witness its highest since September 21 against the US dollar amid scarcity of economic data by the economies of the euro area and on the cusp of economic developments and data expected today, Wednesday, by the US economy, the largest The world which includes FOMC members speaking via satellite.

At exactly 06:35 am GMT, the euro pair rose against the US dollar by 0.19% to 1.1845 levels, compared to opening levels at 1.1822, which is the lowest level for the pair during the session's trading, while the pair achieved its highest level in a month at 1.1850.

Investors are currently awaiting the American economy for what will be revealed by the members of the Federal Reserve Open Market Committee, Deputy Governor of the Federal Reserve Bank Lyle Brainard on economic and monetary policy at an Internet conference hosted by the Association of Professional Economists, before the speech of Cleveland Federal Reserve President Loretta Meester about Monetary Policy in the Virtual Conference of the Association of Total Fiscal and Financing.

Down to the Fed disclosure of the Big Book report, whose importance lies in its being issued two weeks before the FOMC meeting, which is scheduled to be held on the third and fourth of November, that is, in conjunction with the US presidential elections between Republican US President Donald Trump and a candidate Democratic Party Joe Biden, who is currently ahead of the US President forty-fifth in opinion polls.

Technical analysis

The EUR / USD pair shows a more bullish tendency to continue approaching our first awaited target at 1.1865, and gets continuous positive support from the 50 EMA, which supports expectations of achieving more gains during the upcoming sessions, noting that breaching this level will extend the bullish wave to reach To 1.2011 as a next target.

Note that the resistance of the 1.1865 level in front of the current bullish wave will force the price to rebound to the downside and head to a possible test of 1.1720 areas before any new attempt to rise.

The expected trading range for today is between 1.1760 support and 1.1940 resistance.

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range slanting to rise during the Asian session amid the decline of the US dollar index to its lowest since September 21, according to the inverse relationship between them on the cusp of developments and economic data expected today, Wednesday by the US economy, which includes the speech of members of the Federal Market Committee In the shadow of market pricing, the opportunities for US lawmakers to reach to approve a second stimulus package to support the world's largest economy in the face of the repercussions of the Corona pandemic or not, ahead of the upcoming US presidential elections.

At exactly 05:31 a.m. GMT, gold futures contracts for December delivery rose 0.53% to trade at $ 1,921.70 an ounce, compared to the opening at $ 1,911.60 an ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading at $ 1,915.40 per ounce, with the US dollar index declining 0.17% to 92.91 compared to the opening at 92.07.

Investors are currently awaiting the American economy for what will be revealed by the members of the Federal Reserve Open Market Committee, Deputy Governor of the Federal Reserve Bank Lyle Brainard on economic and monetary policy at an Internet conference hosted by the Association of Professional Economists, before the speech of Cleveland Federal Reserve President Loretta Meester about Monetary Policy in the Virtual Conference of the Association of Total Fiscal and Financing.

Down to the Fed disclosure of the Big Book report, whose importance lies in its being issued two weeks before the FOMC meeting, which is scheduled to be held on the third and fourth of November, that is, in conjunction with the US presidential elections between Republican US President Donald Trump and a candidate Democratic Party Joe Biden, who is currently ahead of the US President forty-fifth in opinion polls.

Other than that, we followed on Tuesday, US President Trump expressed that he would accept an agreement of more than $ 2.2 trillion, stating in an interview with Fox News, "I want it more than the Democrats want," and adding that he expects the approval of the Senate, which will approve the second stimulus package in case Democratic Speaker of the House of Representatives Nancy Blossy and Treasury Secretary Steven Mnuchin reached the final touches for the second stimulus package.

Republican President Trump also noted yesterday, "Not all Republicans agree with me, but they will." We would like to point out that Republicans are members of the Senate and they are a majority in the House, rejecting any stimulus package of up to $ 2 trillion led by Senate Majority Leader Mitch McConnell and would like smaller initiatives. In the same context, Trump stated about McConnell's opposition to the approval of expanded stimulus, "he will accept if there is new."

Technical analysis

The price of gold continues to rise after confirming the consolidation above the level of 1901.80, to activate the bullish trend scenario that aims to visit the level of 1934.86 mainly, systematically inside the ascending channel that appears in the picture, noting that surpassing the mentioned level will extend gold's gains to reach levels 1955.00 then 1967.90 as major stations deification.

Thus, the bullish trend will be expected for the upcoming period, unless the breaching 1901.80 level and holding below it.

The expected trading range for today is between 1900.00 support and 1940.00 resistance.

The expected general trend for today: Bullish.

Sberbank's stock rebounded from the support 202.55 yesterday in an attempt to correct the bearish path after the stock opened trading last week with a large price gap where the price broke the lower bound of the ascending channel it was moving within and also managed to breach the support level 216.25

The price is moving below the moving averages that form resistance to the price and pressuring it to continue the downward path, although the price is moving away from the averages, so we could see a bullish correction to the 20 average at the resistance level of 216.34.

The current price action takes place between the support level 202.55 and the resistance level 2016.37 over the medium period which will be the main targets of the price action.

General direction of movement: Downward trajectory.

CADCHF

The currency pair is trading in the range of the upper limit of the descending price channel. The ascending pattern is truncated. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator indicates an overbought condition. The inclined channel of the ascending truncated wave pattern of the M30 level is broken.

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

Trading recommendations:

Sell when a descending wave pattern is formed.

Stop Loss: 0.6927.

Target levels: 0.6895; 0.6880.

AUDUSD

The pair turned up on hopes for a new stimulus deal in the US, the positive outlook weighs on the dollar. If this sentiment persists, the price will continue upwards.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. Moving averages are to intersect and suggest buying. RSI crosses the 50% level, which is also a buy signal. Stoch are entering the overbought zone.

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

Trading recommendations:

Buy a pair with a local target of 0.7125.

#T

The company is one of the Dividend Aristocrats in the US, and the stock is trading in the range of historical lows. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator signals an oversold condition. A breakout of 27.00 will result in the formation of a 1-2-3 ascending pattern.

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

Trading recommendations:

Buy when an ascending pattern 1-2-3 is formed above 27.00.

Stop Loss under the support level 26.60.

Target levels: 27.50; 28.80.