Hello, dear friends!
At the end of the week, the Briton's rally stopped. On Saturday, the Brexit deal will be discussed in the British Parliament, there is no final certainty of its approval yet.
Against this background, the GBPUSD pair is trading below the level of 1.2900. According to EURUSD, the situation is better - moderate growth continues, on Friday the pair updated the autumn highs
Of the other developments, we note the disappointing growth rate of the Chinese economy, the last time GDP growth at 6% was observed almost 30 years ago. However, the growth of industrial production in September by 5.8% is encouraging.
In the afternoon in the trade note:
- 17:00 GMT, 17:30 GMT, 18:30 GMT - FOMC series of speeches;
- 20:45 GMT - Speech by Mark Carney, Head of the Bank of England.
According to EURUSD we consider a bullish and bearish scenario
Yesterday there was a breakdown of resistance at the level of 1.1107, after this the rally stopped and the market took time out. As one of the possible scenarios consider the formation of the M-shaped structure and the development of the downward movement after the breakdown of its minimum. If this option is implemented, it is likely as early as next week.
On smaller timeframes we consider several more possible entry points:
- true breakdown of the upper boundary of the zone 1.1108-1,1130, on the resistance retest can be bought with a take at 1.1162;
- a false breakdown of 1.1130 is a signal for sales. You can share at a true breakout level of 1.1108. The nearest targets are 1.1063 and 1.1000.
GBPUSD pair is in the range of 1.2755-1.2988
The sharp movements and the scrapping of a number of forecasts for the Briton is due to the news factor. Reaching an agreement on The EXIT of Britain from the EU was the reason for a powerful rally of the PAIR GBPUSD.
After the breakout of the resistance in the area of 1.2787 formed the zone of termination 1.2755-1,2988, the entry points will be formed at its borders:
- purchases - a false breakdown of support at 1.2755, the target - 1.2988. Purchases are also possible at a true breakdown of 1.2988;
- sales - a false breakout level of 1.2988, there is a prospect of moving to 1.2755. When fastened under it, topping into Sell.
AUDUSD pair is at strong resistance
As in the case of GBPUSD here we have scrapped the bearish scenario, the resistance level has been consolidated. Despite the proximity of strong resistance in the range of 0.6849-0.6856, we consider both-way options:
- purchases - a true breakout of resistance 0.6837, can also be bought on a false break of support 0.6813. The main target is 0.6887;
- sales - a true breakdown of the level of 0.6813 or a false breakdown of 0.6837.
USDJPY growth expected to resume
So far, there is no strong growth, but the main goal of 109.28 has not yet been reached. Priority in shopping, consider the following entry points:
- false support breakdown at 108.55 or 108.15 (with a deeper correction). Targets are at 108.55 and 108.90;
- you can also buy at a true breakout of resistance of 108.90.
Sales are justified in the following cases:
- true breakdown of the level 108.55, take-profit place at 108.15;
- false break of resistance 108.90.
USDCAD pair is strongly supported
At the end of the week, the USDCAD chart is at the September low. This extreme test for the first time, so the most likely reaction in the form of an upward movement, priority in purchases, consider 2 scenarios:
- the true breakdown of the level of 1.3145;
- 1.3131. The long-position targets are 1.3344.
If you're a true breakdown, 1.3131 can be worked at Sell. The benchmark for take-profit is support at 1.3023.
On gold looking for an entry point for sales
On gold we observe movement to the lower boundary of the range 1478-1496. Entry points can be formed:
- at the retest of the bottom of the level 1490;
- in the pert immaculate resistance at 1489;
- anchored under 1484.
The main sales target is at 1478.
As for the development of signals, as of Friday we have 5 clear signals on which profits have already been taken:
- USDCHF - on Monday after the breakdown of the trading area it was possible to open positions in Buy. Worked on a small timeframe, the profit is relatively small - 25 points at a risk of 12 points;
- USDJPY received a similar signal on Tuesday. The stop at the time of the deal was 16 points. The position is already at break-even, so far, the main goal has not been worked out, so the deal is still in the market;
- EURUSD - on the 5-minute chart received a good signal for sale. Within a couple of hours, the short position was closed on the take, which brought 18 points of profit at a stop of 12 points;
- XAUUSD is a bullish scenario. On the retest of the broken upper boundary of the break-up zone it was possible to buy, to reach a take-profit on the nearest resistance. This move yielded a profit of 111 points at a risk of 81 points;
- XAUUSD - the entry point for sale was received early Friday after a false breakout of resistance. The first goal has already been worked out, which gave 59 profit points at a stop of 44 points.
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