• Shivkumar

16th October - Forex Analysis & Economic News - By Shivkumar



  • USD/JPY defies recovery moves from 105.32 to refresh intraday low with 105.28.

Bullish/ Bearish: - Buyers keep struggling to break the 105.50/55 upside barrier while targeting the monthly peak surrounding 106.10. Alternatively, sellers look for entries below 104.90.

  • XAU/USD eases from $1,911/12 drop to $1,906.55, down 0.10% intraday, during early Friday.

Bullish/ Bearish: - the gold bull’s radar after clearing the $1,911-12 immediate upside hurdle. break below $1,891 will make the gold prices vulnerable to plunge towards the monthly bottom around $1,873.

  • AUD/USD: -the pair is trading at 0.7080, representing a 0.16% decline on the day.

Bullish/ Bearish: - A close below 0.7096 support would validate the bearish view. Support is located at 0.7006 , while resistance is seen at0.7243 .


  • EUR/USD has declined by over 100 pips over the past five trading days.

Bullish/ Bearish: - The pair is currently trading near 1.17 – down 130 pips .Support is seen at 1.1612 and 1.1602 On the higher side, a close above 1.1831 is needed to invalidate bearish pressures and put the bulls back into the driver's seat..


  • NZD/USD currently lacks a clear directional bias. However, odds look stacked in favour of a decline, with China experiencing factory deflation.

  • USD/CAD picks up bids near 1.3225, up 0.05% intraday, during Friday’s Asian session.

Bullish/Bearish: - the buyers are likely to cross the immediate resistance line near 1.3235-40. a downside break of , currently around 1.3210 can break the 1.3200 threshold before targeting 1.3130 and the current month’s low near 1.3100.

  • GBP/USD GBP/USD remains on the back foot despite taking rounds to 1.2900 during the early Asian session on Friday.

Bullish/Bearish: - sellers keep the reins past-1.2805, they need to break the 1.2800 threshold before challenging the previous month’s low near 1.2675. any recoveries from 1.3000 now, can be considered ephemeral. Though, intermediate bounces to 1.2945/50 can’t be ruled out.

ECONOMIC DATA AND ITS IMPACT


EUR: - Consumer price index, global trade balance, retail sales, . Medium to high impact on the market.

CAD: - Manufacturing, foreign portfolio investment. Medium to high Impact.

USD: - Retail sales, industrial production, business inventory, oil rigs count, Medium to high impact on the market.

Good Luck & Let’s approach the market with proper education, Risk & Money Management rules.

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FOREX - CRYPTOCURRENCY

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