Bearish if breaches below 1.1680
The Euro declined against the US Dollar in the prior session, amidst a political crisis in Spain as the Catalonia region voted for independence in a referendum. Meanwhile, the Eurozone’s manufacturing sector recorded a more than six-year high level in September, whereas its unemployment remained steady at an eight-year low level in August. Currently, the pair is trading below the short-term and long-term EMAs on the 1H chart, reflecting at a bearish technical outlook. Besides, the MACD indicator is tranquil below its midline, further confirming the above stance. Important support is observed at the 1.1680 level, a breach below which might trigger further weakness in the pair, clearing its way for the 1.1650 and 1.1615 levels. On the bright side, key intraday resistance is situated at the 1.1745 level, followed by the 1.1780 and 1.1815 levels.
Bullish if breaks above 22600
Bullish if breaks above 22600
The Dow Jones index posted significant gains in the previous session and closed above the crucial 22550 level for the first time ever, aided by gains in healthcare and financial sector stocks. Moreover, shares of Intel Corp., DuPont Inc. and General Electric Co. emerged as the top index gainers. As of now, the index is trading in an upward trending channel on the 1H chart, hinting at the bullish momentum in the coming session. Likewise, the MACD indicator is sharply heading upwards, further confirming the above stance. Important resistance is positioned at the 22600 level, a surge above which might lead to further positivity in the index, targeting the next ones at the psychological 22700 and 22800 levels. On the contrary, key support is located at the 22515 level, followed by the 22450 and psychological 22400 levels.
Negative if breaches below 1.3135
Negative if breaches below 1.3135
The Pound traded with a bearish tone against the US Dollar in the last session, as the growth in the British manufacturing sector slowed more -than-expected in September. As clearly seen, the pair is trading with weak bias on the 1H chart, ahead of the UK’s construction PMI and BRC shop price index data, to be released today. Immediate support is located at the 1.3210 level, followed by the 1.3170 and 1.3135 levels. A move back below the latter might lead to increased selling pressure on the pair. However, the MACD indicator is trading with a slightly upside tone, suggesting at possible recovery in the pair over intraday basis. The key technical obstacle is aligned at the 1.3280 level, followed by the 1.3315 and 1.3350 levels. A sustained break above the latter might lead to upside momentum in the pair.
Strong if breaks above 7535
Strong if breaks above 7535
The FTSE 100 index extended its winning streak for the fourth consecutive session yesterday, supported by gains in airlines and travelling sector stocks after the rival, Monarch Airlines, was placed into administration. At present, the index is trading in an upward trending channel on the 1H chart, hinting the presence of bullishness in the near term. In addition, the MACD indicator is trading above its centreline, further validating the above stance. Key resistance is aligned at the 7470 level, followed by the 7500 and 7535 levels. A break and stability above the latter might lead to further strength in the index. On the flipside, crucial support is seen at the 7405 level, followed by the 7375 and 7345 where EMA 55 is placed. A breach below the latter might turn the main trend to bearish.
Bullish if breaks above 113.45
Bullish if breaks above 113.45
The US Dollar rose against the Yen in the last session, after the US manufacturing activity climbed to its highest level in thirteen and a half years in September. Moreover, the nation’s construction spending jumped more-than-expected in August. Currently, the pair is trading above the short-term and long-term EMAs on the 1H chart, hinting at the bullish momentum in the coming session. Additionally, the MACD indicator is directing towards the north, further validating the above stance. Immediate resistance is positioned at the 113.45 level, a break and stability above which might lead to further strength in the pair, paving the way for the 113.70 and psychological 114.00 levels. On the contrary, key technical support resides at the 112.85 level, followed by the 112.50 and 112.15 levels. A breach below the latter might trigger negativity in the pair.
Weak if crosses below $1255
Weak if crosses below $1255
The precious metal traded lower in the previous session and fell near its two-month low at $1270.40, led by a stronger greenback following a series of encouraging US economic releases. At present, the yellow metal is trading in a downward trending channel on the 1H chart, reflecting at a bearish technical scenario for the near term. Moreover, the MACD indicator is tranquil in its negative territory, further affirming the above stance. Key short-term support is observed at the $1264 level, followed by the $1260 and $1255 levels. A move back below the latter might trigger a further acceleration to the downside. On the flipside, key resistance is aligned at the $1273 level, followed by the $1276 where EMA 55 is trading and $1280 levels. A surge above the latter might lead to bullish momentum in the safe haven commodity.
Bearish if breaches below $54.30
Bearish if breaches below $54.30
The Brent Crude fell for the fifth straight session yesterday, after the Iraq's Oil Ministry stated that the nation’s exports slightly rose in September following an overall higher OPEC output. As seen on the 1H chart, the short-term EMA has crossed the long-term EMA from above, indicating at the bearish momentum in the near term. Meanwhile, traders would eye API’s weekly US crude inventories data, to be released at the end of the day. Crucial support is located at the $55.25 level, followed by the $54.85 and $54.30 levels. A breach below the latter might lead to increased selling pressure on the Brent oil. However, the MACD indicator is directing towards the north, suggesting at possible recovery over intraday basis. Key resistance is observed at the $56.25 level, followed by the $56.75 where EMA 55 is trading and $57.20 levels.
This communication is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. This communication may not be used in whole or in part by any person or entity which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk and may not be suitable for all investors. All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Further, this information has been prepared without regard to any specific investment objectives or financial position (including deposit size, leverage, risk appetite and risk exposure) of any specific person. Any reference to historical price movements is informational and based on our analysis. We do not represent or warranty that any such movements are likely to occur in the future, as past performance is not necessarily indicative of future results. While we believe the information contained herein to be reliable, we do not guarantee its accuracy or completeness. You understand that we do not produce the information with the intent of impacting your investment decisions, therefore, you release us from any liability for any losses, including without limitation, any loss of profit you may incur as a result of reliance on such information or entering into any transaction. By receiving this material, you confirm and agree that you have read, received and understood ADSS’s Risk Disclosure.
This communication is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. This communication may not be used in whole or in part by any person or entity which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk and may not be suitable for all investors. All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Further, this information has been prepared without regard to any specific investment objectives or financial position (including deposit size, leverage, risk appetite and risk exposure) of any specific person. Any reference to historical price movements is informational and based on our analysis. We do not represent or warranty that any such movements are likely to occur in the future, as past performance is not necessarily indicative of future results. While we believe the information contained herein to be reliable, we do not guarantee its accuracy or completeness. You understand that we do not produce the information with the intent of impacting your investment decisions, therefore, you release us from any liability for any losses, including without limitation, any loss of profit you may incur as a result of reliance on such information or entering into any transaction. By receiving this material, you confirm and agree that you have read, received and understood ADSS’s Risk Disclosure.
Get Bonus No Deposite in your Trading Account now and add this currency pair to your forex portfolio, enjoy your trading with us!
No comments:
Post a Comment