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Liquid Markets

Currencies Outlook

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EUR/USD

 

Summary

Target Level 1.3104

Target Period 11 days

Stop Level 1.35685

 

Analysis

Channel Up identified at 26-Sep-23:00 GMT+1. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.31 within the next 11 days.

 

Resistance Levels

 

 

Support Levels

(A) 1.31045 Last support turning point of Channel Up.

 

 

 

 

EUR/USD retreats from peaks

 

Markets are tilted to the risk-off trade on Tuesday amidst increasing concerns regarding the US government shutdown and the debt ceiling negotiations. Data wise, the most relevant release will be German Factory Orders, expected to have expanded at a monthly pace of 1.2% in August.

Edited by Mysticforex

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FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the FT has reported that the Finance Ministry in Japan is very worried about the potential impact on the currency markets according a senior official.

 

“The yen’s status as a safe haven has been weakened by the aggressive monetary easing undertaken by the BoJ. In addition, its safe haven appeal derived from Japan’s narrower current account surplus has also weakened. “

 

“It was reported overnight that Japan’s current account surplus in August proved much lower than expected driven by a narrowing in the income surplus and widening in the services trade deficit. In the twelve months to August, Japan’s current account surplus has totalled a cumulative JPY4.52 trillion equating to around 1.0% of GDP.”

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USDJPY

 

A US shutdown occurred and after 16 long days, the government was back on its’ feet. Consequently, the debt ceiling was raised with a green light from the President and simultaneously extensive talks of threat to default came about. Additionally, the intense drama has resulted in a temporary 2 to 3 months deal, so what’s next we may wonder but the real question is, what will happen after the short term deal comes to an end? -

 

 

 

#EURUSD

 

Summary

Target Level 1.3104

Target Period 12 days

Stop Level 1.36455

 

Analysis

Channel Up identified at 09-Oct-23:00 GMT+1. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.31 within the next 12 days.

 

 

Resistance Levels

 

Support Levels

(A) 1.31045 Last support turning point of Channel Up.

 

 

 

 

#AUDUSD amidst a tight range after a week of stellar gains, ahead of crucial data

 

The AUD/USD is trading at a confined range since the early opening on Sunday, as it is more than plausible that due to a slight profit taking and to the general recover of the American dollar, the cross eases a bit.

Edited by tradingwizzard

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EURUSD

After another strong move up some indecision can be expected. Our mantra “trend is your friend” sugests to look for long positions and we are. There is a lot of places to watch today and in coming days. Break out to the upside through 1.3800 should give possibility to join the trend on retracement. Prefered places to join uptrend are: 1.3700 and a zone of 1.3650-1.3680, where breaking 1.3650 would open more space for further correction towards 1.3580-1.3600.

GBPUSD

After yesterday’s strong upward movement we expect some correction towards 1.6175-1.6180 level and if it fails next zone to watch is 1.6112-1.6117. At this levels we will be looking to open long positions in the attempt to join the uptrend. As always SL 10-15 TP 20-30.

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EUR/USD

 

Summary

Target Level 1.3666

Target Period 4 days

Stop Level 1.37885

 

Analysis

Flag identified at 23-Oct-11:00 GMT+1. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.367 within the next 4 days.

 

Resistance Levels

(B) 1.37885 Last resistance turning point of Flag.

 

Support Levels

(A) 1.36655 Last support turning point of Flag.

 

 

 

 

Chinese PMI data came out better-than-expected

 

The Chinese PMI numbers came out at 50.9 vs 50.5 expected and 50.2 last. The data represents a seven-month high. The news gave risk currencies like the Aussie and New Zealand Dollars enough of a tailwind that they were able to re-trace a whopping 38.2% of Wednesday’s decline.

Edited by tradingwizzard

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EURUSD

 

Summary

Target Level 1.3415

Target Period 2 days

Stop Level 1.38245

 

View more currency pairs here: LQD Markets | Technical Analysis

 

EUR/USD recovers 1.3500

 

The results from the Services PMIs in the main economies of the bloc would grab the attention during the European morning, followed by EMU’s retail sales and German Factory Orders.

 

View more forex news here: Forex News | Foreign Exchange | EUR/USD recovers 1.3500

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TODAY stock exchange open with volatile note at the 10 min of starting it downward The sensex up 40.25 points at 21015.04, and the Nifty up 4.90 points at 6258.05. open Nifty 6267.95 move upward but whole day trend is volatile.

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USD/JPY--->

 

U/J I expect to go lower before it goes higher. E/U I expect to go higher before it goes lower. It could however spike lower tomorrow before reversing higher before going lower. As always there are infinite possibilities on lower time frames, but even many possibilities on higher time frames.

Of the two, E/U is very clearly on the rack, having suffered a violent reversal and not recovered any of it. U/J has gone nowhere for a while whilst equities grind relentlessly higher. That's a divergence in my book worth paying attention to. But I have no crystal ball. It's just a best guess, and that is all any of us has.

Bias can change at any time.

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USDJPY

 

Summary

Target Level 100.5645

Target Period 8 days

Stop Level 96.218

 

Analysis

Broke through Resistance level of 99.185 at 07-Nov-16:00 GMT+1

 

GBPUSD

 

Summary

Target Level 1.6257

Target Period 4 days

Stop Level 1.5904

 

Analysis

Flag identified at 06-Nov-00:00 GMT+1. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.626 within the next 4 days.

 

Supporting Indicators

Upward sloping Moving Average

 

Resistance Levels

(B) 1.6257 Last resistance turning point of Flag.

 

Support Levels

(A) 1.5904 Last support turning point of Flag.

 

View more #currency pairs here: LQD Markets | Technical Analysis

 

AUDJPY off Monday – may have more downside to endure before correction is over; 92.10 target

 

With the Asian equity markets on the rise (“risk-on”), the natural thought is that the Yen would be tumbling – thereby boosting the AUD/JPY.

 

Click here to read more forexnews: Forex News | Foreign Exchange | AUD/JPY off Monday ? may have more downside to endure before correction is over; 92.10 target

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