Hello, dear friends!

In the middle of the week, the focus is on the US Federal Reserve's interest rate decision. There is a high probability of another rate cut, but most of the big players are still taking a wait-and-see attitude. In the evening, strong movements are possible for most of the main pairs.

On Wednesday, the statistics on employment in the non-agricultural sector of the USA were already released. Good data was also received for U.S. GDP, growth in the third quarter exceeded the expectations of experts by 0.3%. The market reacted poorly to these data.

Of other news, we note some increase in tensions between the U.S. and China. The Chinese representative to the UN does not like the excessive U.S. activity in human rights issues. Earlier, America and 22 other countries urged China not to detain Muslims and ethnic Uighurs.

In the second half of Wednesday, please note:

  • 17:00 GMT - Bank of Canada's interest rate decision;
  • 17:30 GMT - Us crude oil reserves;
  • 18:15 GMT - Bank of Canada press conference;
  • 21:00 GMT - the Fed's decision on the interest rate;
  • 21:30 GMT - press conference of the U.S. Open Market Committee.

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The EURUSD chart is at strong resistance

On H4 we determine the range that sets the limits of the chart in the medium term. Area 1.0885-1.1173 stands out.

On H4 we determine the range that sets the limits of the chart in the medium term. Area 1.0885-1.1173 stands out.

At the lower time intervals, I will note the range of 1.1072-1.1122. The chart is located at its upper boundary and the local termination zone 1.1112-1.1123 has already been formed. It is possible to form entry points of two types:

  • sharp breakdown of the level of 1.1123 and its retest from above. Open long positions with a growth prospect of 1.1152 and 1.1173;
  • 1.1123. You can sell when you're pinned to this level. The first goal is support at 1.1112, with its breakdown and retest from below we will get an opportunity to topping into Sell.

It is possible that the GBPUSD pair will continue to grow

For a Briton, you can't give priority to shopping or selling. The senior timeframes show that the movement to the upper boundary of the range of 1.2012-1.3368 has not yet been completed.

In the near future, the defining range is 1.2804-1.3011. If you don't have time to trade inside this zone, wait for an approach to one of the borders, then consider the following options:

  • true support breakdown of 1.2804 - open short positions;
  • false breakoff of resistance at 1.3011, after fixing under 1.3011 can be sold with a take-profit of 1.2804;
  • purchases are possible only after impulse breakdown and consolidation above the level of 1.3011.

For the rest of the day you can work with a range of 1.2850-1.2903. Look for signals when the chart approaches its boundaries.

USDJPY growth capped at 109.29

On the older timeframe we see that the main goal of bullish movement has not yet been worked out. In the near future, it is possible to continue the growth and touch the upper limit of the range of 105.04-109.29.

We work with a range of 108.83-109.03, we consider only options with long positions:

  • buy worth if there is a false breakout of support at 108.83;
  • chance for a topping in Buy will get at a true breakout of resistance at 109.03.

Gold is in a state of uncertainty

There have been no drastic changes in the last couple of weeks. The XAUUSD chart is still in the 1459-1556 range.

In recent days, the XAUUSD chart boundaries are defined by the range of 1478-1514. We are observing a downward movement from its upper line, support for 1478 has not yet been reached.

We work with the local termination 1484-1490:

  • when returning to level 1490 sell on the fastening of the schedule under resistance;
  • at the true breakout of level 1484, we topping into Sell;
  • if we make a support test on 1478, we will get another entry point on the fastening under it.

Shopping is unlikely. We consider them only in the case of a smooth correction to the mark 1490, this entry point is aggressive, work with a smaller lot.

The upward movement on oil continues

After testing support at 55.95, an upward movement has developed, which continues to this day. The target is the upper limit of the range of 55.95-69.07.

We give priority to purchase deals, you can enter the market:

  • In a false breakdown of 60.46;
  • with a true resistance breakdown of 61.97.

Short positions are too risky, they are not considered yet.

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