Daily Trading Forecasts for October 1, 2013
October 1, 2013 8:15 amVideo
Latest News
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- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
EURUSD: EURUSD is on the bull market, with the possibility that the market would keep on going upwards (though not without bearish retracements). The price line at 1.3550, which has been tested constantly in the last few weeks, is under test again, and it may be breached to the upside.
USDCHF: The pair – which is also in the bearish mode – is now trading below the resistance level of 0.9050. As it was suggested by the past forecasts, it is very much probable that the price would end up testing, at least, the support level at 0.9000. The level could end up being broken to the downside.
GBPUSD: There is still much optimism surrounding this market instrument, and it is reasonable to think that it would keep on going northwards, irrespective of southwards threats along the way. The price territory at 1.6250 is being challenged and would soon be overcome, as the price goes further upwards towards the distribution territory at 1.6300.
USDJPY: The JPY pairs had opened with the gap down and later rebounded upwards. The outlook for the JPY pairs for this week is thus bullish. The USDJPY gapped downwards at the open of the markets, later bouncing upwards from the demand level of 97.50. However, the bias is the upside.
EURJPY: This cross, which gave a bearish signal following the gap down that occurred at the beginning of this week, has encountered a scenario which makes it not sensible to go short until there is a clearer signal (whether in favor of the bears and the bulls).
The material has been provided by InstaForex Company – www.instaforex.com
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