Daily trading forecasts for October 29, 2013
October 29, 2013 8:30 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
EURUSD: It would behoove one to seek a short trade in this market, perhaps setting a Buy Limit order at the support line of 1.3750. This is because the bias on the market is bullish, and the Williams’ % Range forage into the oversold area is an excellent opportunity for astute speculators to go long, when the pair is on sale, and in the context of an uptrend.
USDCHF: The outlook on this pair is similar to that of EURUSD, albeit it is in an apparent dichotomy to each other. This pair is trying to rally in the context of downtrend, which proffers a nice opportunity to go long. The price may eventually plummet towards the support level of 0.8900.
GBPUSD: The bears have battered the cable too much to the extent of putting the recent Bullish outlook in jeopardy. The RSI period of 14 is below the level of 50, and the pair is trading below the EMAs. It closed below them. Therefore, should the EMA 11 cross the EMA 56 to the downside, it would lead to a Bearish Confirmation Pattern in the chart, which would mean that it is no longer sensible to buy long during that phase.
USDJPY: There are mixed signals on this currency instrument, and it is, thus, OK to wait for a clearer signal, before one takes a position. Most probably, the market would nosedive, because the indicators in the chart still support a southward possibility in the market.
EURJPY: The bullish bias on the EURJPY is still valid, although the price is currently experiencing some bearish pull. As long as the pair trades above the demand zone of 134.00, the price has the probability of a northwards journey.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: