Analytic reviews

EURJPY

The currency pair is trading in the range of 365 and 135 moving averages. The support level of 124.18 is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator signals an oversold condition.

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

Trading recommendations:

A fractal is considered as an entry point. Conditions: the start fractal is formed above 135 EMA + correction = buy on the breakout of the start fractal (when the 1-2-3 ascending pattern is formed).

Stop Loss: below the local minimum (124.18).

Target levels: 124.87; 125.27.

#MTS

The support level of 328.40 deters sellers. A downward truncated pattern has formed, it ended with a breakout of the inclined channel. Awesome Oscillator indicates a bullish divergence. A breakout of 333.20 will result in the formation of an ascending wave pattern.

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

Trading recommendations:
Buy above 333.20.

Stop Loss: 328.40.

Target levels: 337.40; 344.80.

EURUSD

The pair remains in a short-term uptrend amid the chronically weaker US dollar. From a technical point of view, it’s located at a kind of a bifurcation point, when it can continue to drop after breaking the support line or turn up and resume the upward trend.

Technical side:

The price is on the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling, intersecting. RSI is above 50% and is gradually declining. Stoch are dropping down.

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

Trading recommendations:

A drop in the price below 1.1790 will result in the further drop to 1.1750. At the same time, if the price remains above this level, it can turn up and rush to 1.1870.

Monday, October 12th, today’s news—China's export in September rose 10% compared to the last year. Asian markets rise on the economic data from China, European markets also rise, yuan is weaker against the dollar, stimulus talks in the US are still unsuccessful. The price of Brent oil is $42.33, WTI—$40.01, EUR/USD is at 1.1805, GBP/USD—1.3021, gold is $1,928.65 per ounce.

Aeroflot confirmed the downside path, as it breached the support 68.30 and moved towards the 50.60 level, 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 resistance level 78.5068.30 and pressures the price for further decline.

The stochastic oscillator has entered the oversold area and is moving within this area within a sideways path, therefore we may see a further drop in the price.

General trajectory of movement: a downward trajectory.

The Australian dollar against the US dollar made a clear breach of 0.7190 and closed the daily candlestick above it, which stopped the negative scenario suggested in our recent reports and leads the price to rise again, to head towards visiting 0.7325 then 0.7413 as next major stops.

Thus, the upside will be likely for the upcoming period, noting that breaching 0.7190 then 0.7155 levels will stop the expected rise and pressurize the price to turn to the downside.

The expected trading range for today is between 0.7190 support and 0.7270 resistance

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the third session from its high since September 14 against the Japanese yen, following the developments and economic data that were followed on Monday by the Japanese economy and amid the scarcity of economic data early this week before. The American economy is the largest in the world due to the Columbus Day holiday in the United States of America.

At exactly 06:58 am GMT, the US dollar against the Japanese yen fell by 0.21% to 105.48 levels compared to the opening levels at 105.70, after the pair achieved its lowest level since the fifth of this month at 105.43, while the pair achieved its highest level during trading The session is at 105.85, knowing that the pair started the session with a rising price gap after closing last week's trading at 105.62.

We have followed up on the Japanese economy the release of the producer price index reading, which is a preliminary indicator of inflationary pressures, which showed a contraction of 0.2% against a growth of 0.2% last August, contrary to expectations that indicated stability at zero levels, while the annual reading of the same index showed the expansion of the deflation to 0.8% versus 0.6% in August, worse than expectations for a contraction of 0.5%.

This came in conjunction with the disclosure of the machinery orders index reading, which showed a slowdown in growth to 0.2% compared to 6.3% last July, surpassing expectations that indicated a decline of 1.0%, while the annual reading of the same index showed a contraction of the decline to 15.2% compared to 16.2%. It also beats expectations that indicated a decline of 15.6%, and also in conjunction with the annual reading of the bank lending index showed that growth slowed to 6.4%, compared to 6.7% in August.

Technical analysis

The dollar against the yen is facing negative pressure after it found it difficult to stabilize above the 106.00 barrier, and we note that recent trades are confined to a rising wedge pattern that is expected to pressure the price to achieve further decline during the upcoming sessions, as the price is making attempts to break this pattern's support at 105.55. Noting that breaking this level will threaten the pivotal support 105.20 and cause it to be broken, thus paving the way for further decline in the coming period.

From here, we expect to witness negative trading in the intraday term, confirming the breach of 105.55, and the main targets start at 104.40 and extend to 103.65, bearing in mind that failure to achieve the required break will push the price to recover again and head towards 106.44 initially.

The expected trading range for today is between 104.90 support and 106.00 resistance.

The expected general trend for today: Bearish.

#T

The descending M30 level pattern is truncated. Awesome Oscillator indicates bullish divergence, while Stochastic Oscillator signals an oversold condition. An entry point is formed at the end of the expected wave B.

#T 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 M30 level pattern.

Stop Loss under the support level 27.73.

Target levels: 29.14; 29.67.

EURUSD

The pair is trading below 1.1830 after a local rise amid the chronically weak dollar due to stable expectations in the market that the after the election, the winner of the presidential race will be forced to give the green light to new measures to support the US economy.

Technical side:

The price is above the middle Bollinger indicator, at the level of SMA 5 and above SMA 14. RSI is under the oversold zone and moves horizontally. Stoch went down from the oversold zone.

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

Trading recommendations:

The pair may correct down to 1.1790 before resuming growth to 1.1870.

AUDCHF

The overall trend is downward. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals an overbought condition. A breakout of 0.6568 will result in the formation of a 1-2-3 descending pattern.

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

Trading recommendations:

Sell below 0.6568.

Stop Loss: 0.6593.

Target: 0.6515.