GBPUSD is looking bearish on charts

Pivot Points

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0975	1.1002	1.1025	1.1052	1.1075	1.1102	1.1125
GBP/USD	1.5184	1.5232	1.5264	1.5312	1.5344	1.5392	1.5424
USD/JPY	119.06	119.60	120.03	120.57	121.00	121.54	121.97
USD/CHF	0.9739	0.9770	0.9815	0.9846	0.9891	0.9922	0.9967
AUD/USD	0.7071	0.7123	0.7158	0.7210	0.7245	0.7297	0.7332
EUR/GBP	0.7161	0.7175	0.7199	0.7213	0.7237	0.7251	0.7275
USD/CAD	1.3059	1.3104	1.3185	1.3230	1.3311	1.3356	1.3437
NZD/USD	0.6673	0.6713	0.6739	0.6779	0.6805	0.6845	0.6871

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SUMMARY:

The secondary trend of GBPUSD is sideways on charts. In its 4 hourly chart, the pair is sustaining above its rising trend line and is likely to give break out at downside. It is not sustaining at higher levels and consolidating with strong negative bias to show downside movement in the market. Its 30 and 200 DMA are also supporting the upcoming bearish trend in the pair. It is having an important support at the level of 1.5280. If it breaks its support level and sustains below it then we can expect it to show further bearish movement in the pair.

 

INDICATORS:-

MACD is sustaining in selling territory supporting the upcoming bearish trend in the pair.

RSI is also sustaining near the selling territory indicating the upcoming bearish trend in the pair.

STRATEGY: GBPUSD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

Crude oil prices rose by around 9 percent last week.

Today's Chart: CRUDEOIL 

Overview :

Crude oil prices rose by around 9 percent  last week. After hitting the psychological level of $50 and remain stable above the EMA50. Support is seen near a  vertical down ward trend line and resistance level  at $49.03, while resistance is seen near a EMA200  level at $51.94. Expected trading range for today $49.03 support level and $51.94 resistance level. On an intra day basis, we expect the positive momentum to continue the short term bearish trend. On the upside resistance level at $50.11, if market break this resistance level upside breakout is expected with potential target of $51.54

Technical- Levels

	R2	R1	S1	S2
Gold	1186	1171	1159	1149
SILVER	16.24	16.11	15.73	15.52
CRUDE OIL	53.17	51.14	47.45	45.67
COPPER	2.4693	2.4419	2.3863	2.3507
NATURAL GAS	2.614	2.564	2.492	2.453
PLATINUM	1003	996	976	965
PALLADIUM	742	721	700	683

AUD/USD continued its fall and hit the round number

AUD/USD continued its fall and hit the round number. It actually dipped below the 70 cent number, but the break is far from being confirmed.

Will it be carried lower by global gloom or can it recover?

This is basically an extension of the fall seen yesterday, that was triggered by the weak Chinese data. The independent Caixin manufacturing PMI for September deteriorated to a new low: 47 points, the lowest since the crisis.

In Australia we didn’t have much to trigger this. Yesterday’s CB Leading Index came out at +0.3% and the next piece of meaningful news comes only next week. Nevertheless, weakness in commodity prices and commodity currencies is affecting the Aussie.

The fall so far only reached 0.6988. A confirmation is still awaited. The next level on the downside is the round 0.69. A lot depends on the global mood.

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RIP Shaikh Rashid bin Mohammed bin Rashid Al Maktoum

Mourning declared following the death of HH Sheikh Rashid bin Mohammed bin Rashid Al Maktoum

Three days of mourning have been declared following the death of HH Sheikh Rashid bin Mohammed bin Rashid Al Maktoum.

Sheikh Rashid was the eldest son of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Al Dewan, Dubai Ruler’s Court, has declared three days mourning in Dubai, beginning today.

Shaikh Rashid was the eldest son of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Shaikh Rashid was a keen horse lover and was the owner of Zabeel Stables.

President His Highness Shaikh Khalifa Bin Zayed Al Nahyan mourned the death of Shaikh Rashid. Shaikh Khalifa expressed his heartfelt condolences and solace to Shaikh Mohammad.

Flags will fly half-mast at all government institutions in the emirate.

Sheikh Rashid was a well-known sports figure in the UAE. He participated in a number of International and local Endurance competitions winning a number of laurels for the country. His greatest achievement was winning 2 Gold medals in the 2006 Doha Asian Olympics 120 km Endurance individual mixed as well as 120 km Endurance Team Mixed events.

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Gold inches higher, but struggles to shine

Technical - Levels

	R2	R1	S1	S2
Gold	1148	1130	1109	1097
SILVER	14.96	14.75	14.44	14.23
CRUDE OIL	47.12	45.93	43.82	42.11
COPPER	2.436	2.410	2.372	2.308
NATURAL GAS	2.712	2.693	2.635	2.612
PLATINUM	1035	1002	977	967
PALLADIUM	1014	591	568	558

Overview :

Gold futures traded modestly higher Tuesday as investors looked ahead to the Federal Reserves’s policy meeting next week, which could determine the direction of the dollar and dollar-denominated commodities like gold.

Gold for December delivery was marginally higher, gaining $1, or about 0.1%, at $1,122.10 an ounce, after swinging between small gains and losses in early Tuesday action.

The precious metal has been down nine of that past 11 sessions and hasn’t drawn much of a bid in recent weeks on the expectation that the Fed may raise interest rates for the first time since 2006. Interest-bearing assets like Treasurys have diminished the appeal of gold, which doesn’t bear any interest, while anticipation of a near-term rate increase has dulled expectations for gold.

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European stocks reversed earlier losses to close higher Wednesday

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European stocks reversed earlier losses to close higher Wednesday, with worries about an economic slowdown in China offset by a strong open on Wall Street. France's CAC 40 was up by 13.76 points to 4,554.92 and Germany's DAX 30 gain 32.48 points to 10,048.05. FTSE 100 also managed to close at 6,083.31 with net gain of 24.77. US stocks ended higher on Wednesday, rebounding from two days of losses. The Dow Jones 30 gain 293.03 points to 16,351.38, while the S&P 500 and the Nasdaq 100 also gain 35.01 and 113.90 points to 1,948.86 and 4265.23 respectively. Asian markets traded on mix today. Japan’s Nikkei 225 which is only index traded on green note and up by 148.23 points to 18,243.63. Other Asian index like Hong Kong’s Hang Seng 50 Index is off today and Australia’s S&P/ASX 200 closed at negative note.

Index	Value	Net Change
Dow30	16,351.38	+293.03
S&P500	1,948.86	+35.01
NASDAQ100	4256.23	+113.9
DAX 30	10,048.05	+32.48
FTSE100	6,083.31	+24.77
CAC 40	4,554.92	+13.76
Nikkei225	18,243.63	+148.23
S&P/ASX200	5,041.50	-59.96
Hang Seng50	20,934.94	0.00

SUMMARY:

Major trend of Dow Jones 30 is bearish on daily charts. It has given upside recovery in last week trading session. It is again showing good recovery from lower level. It is likely to give northward movement in upcoming session as it has give closing below 50 DMA and trading with resistance of 200 DMA on hourly chart. On lower side it has support level of 16100. If it manages to sustain above 50 DMA and gives break out above 200 DMA then it would bring a strong confidence to reach 16700. Currently it is having resistance of 16400.

INDICATOR:-

RSI is about to cross up the 50 mark on hourly chart time frame. On ADX is likely to move up with strong accumulation on chart. ADX trading above 35 mark. If it sustain above the same then index would come in positive territory with positive DI has crossed up negative DI . 

EURCHF is looking bullish on charts

SUMMARY:

The secondary trend of EURCHF is sideways on charts. In its 4 hourly chart, the pair is consolidating with strong positive bias and is likely to give break out at upside. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 1.0895. If it breaks its resistance level of 1.0900 at upside then we can expect it to show further upside movement.

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.

MACD is also sustaining in buying territory indicating the upcoming bullish trend in the pair.

STRATEGY: EURCHF is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1108	1.1156	1.1237	1.1285	1.1366	1.1414	1.1495
GBP/USD	1.5153	1.5225	1.5264	1.5336	1.5375	1.5447	1.5486
USD/JPY	116.64	117.95	118.66	119.97	120.68	121.99	122.70
USD/CHF	0.9431	0.9498	0.9540	0.9607	0.9649	0.9716	0.9758
AUD/USD	0.6819	0.6914	0.6967	0.7062	0.7115	0.7210	0.7263
EUR/GBP	0.7229	0.7264	0.7329	0.7364	0.7429	0.7464	0.7529
USD/CAD	1.3018	1.3067	1.3163	1.3212	1.3308	1.3357	1.3453
NZD/USD	0.6224	0.6269	0.6302	0.6347	0.6380	0.6425	0.6458

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$GBPJPY Is Bullish On Charts !

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SUMMARY : 

The primary trend of GBP/JPY is bullish, prices are sustaining on the higher levels & looking further bullish for the few upcoming sessions. The pair is taking resistance from falling trend line  consolidating & gaining strength to break it upside. Today if the pair breaks 184.20 & managed to sustain above it, then we can expect it to continue its ongoing trend & test the level of 184.87/185.20  in today's session. RSI is sustaining in buying territory supporting upside movement in the pair. 
MACD line has recently break the zero line,indicating the up trend in the market.

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GBP/JPY ( 4 HOURLY )

GBP/USD Charts

STRATEGY :- 

GBP/JPY is looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.


PIVOT POINTS :-

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1158	1.1226	1.1279	1.1347	1.1400	1.1468	1.1521
GBP/USD	1.5215	1.5272	1.5364	1.5421	1.5513	1.5570	1.5662
USD/JPY	117.91	118.31	118.56	118.96	119.21	119.61	119.86
USD/CHF	0.9265	0.9324	0.9410	0.9469	0.9555	0.9614	0.9700
AUD/USD	0.7694	0.7736	0.7769	0.7811	0.7844	0.7886	0.7919
EUR/GBP	0.7215	0.7269	0.7301	0.7355	0.7387	0.7441	0.7473
USD/CAD	1.2413	1.2466	1.2520	1.2573	1.2627	1.2680	1.2734
NZD/USD	0.7422	0.7453	0.7488	0.7519	0.7554	0.7585	0.7620

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Forex Weekly Report & Forecast

EUR/USD:

The EUR/USD pair went back and forth during the course of the week, ultimately settling on a slightly positive candle. We are still below the 1.15 level and that suggests that we are very soft. The Euro continues to be a lowered currency as the US dollar is without a doubt one of the most favored currencies in the world. We don’t have any resistive candles as of now to start selling, and it is going to be a market of short-term trader’s. 

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Forecast:

The EUR/USD did very little during the course of the day on Thursday, as we continue to hover around the 1.14 region. This market looks as if it is consolidating between the 1.13 level on the bottom, and the 1.15 level on the top. We recognize that sooner or later the down trend should continue. We believe that above the 1.15 level, there is a significant amount of resistance all the way to the 1.1650 level.

GBP/USD:

The GBP/USD pair broke higher during the course of the week, and as a result the market looks as if it’s reaching to the 1.55 level. That is an area that has a significant amount of resistance, and as a result we are looking for a selling opportunity in that general vicinity. In fact, we can’t buy this market until we get above the 1.58 level, which is something that we do not anticipate sooner. With that, we are bearish and ignoring the bullish pressure that we’ve seen recently.

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Forecast:

The GBP/USD went back and forth during the course of the session on Thursday as we continue to try to get above the 1.55 level which is a resistance and the 100 day EMA crossing at this point. It was support at one point in the past, so it should now be resistance based upon basic technical analysis. As soon as we get a resistant candle, we are more than willing to sell this pair because we believe that the market is going to drop back down to the 1.53 level then. There is a resistance above all the way till  1.58 level.

AUD/USD:

The AUD/USD went back and forth during the course of the week, forming a neutral candle for the second week in a row. With that, it appears that market is more than likely going to continue to try to find a base in this general vicinity. The 0.80 level above should be massively resistive, and the 0.83 level we would not be buyers. Resistive candles between here and there should be nice selling opportunities though.

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Forecast:

The AUD/USD went back and forth during the session on Thursday as we continue to hang about the 0.78 level. We believe that this pair will not go above the 0.80 level,  we are sellers of resistive candles between here and there,  as well as a seller of a break down below the bottom of the range for the session. the market looks as if it’s heading back to the 0.76 level given enough time, and will continue to sell again and again every time we rally and fail.

USD/JPY:

The USD/JPY tried to break down during the course of the week, but struggled at the 120 level. We ended up forming a shooting star, and it looks as if we are going to drop from here. However, we feel that the market is most certainly in an up trend, and as a result we are going to wait for a supportive candle below in order to start buying. On the other hand, if we break above the top of the shooting star, we will be buyers.

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Forecast:

The USD/JPY initially rose during the session on Thursday, but found a little bit of resistance above the 190 level. With that, we ended up forming a little bit of a shooting star, but the market looks like it’s ready to grind away in this general vicinity. The 118 level below should be supportive. On the upper side it may go till 120 level and then the 122 level. We have no interest in selling this market.

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