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Crude Oil - Growth is possible.​

On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the development of the upward third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) is forming, within which the development of the wave (iii) of i is starting.

If the assumption is correct, the asset will grow to the area of 103.83–115.12. In this scenario, critical stop loss level is 82.20.

 

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NZDUSD takes advantage of the American dollar weakness​

According to the report on foreign trade, exports to New Zealand in September adjusted by 1.6B dollars to 6.0B dollars, while imports – by 1.1B dollars and amounted to 7.6B dollars. Thus, the trade deficit consolidates around 1.6B dollars, down from 2.6B dollars last month. The growth leaders in the export category were livestock products, having increased by 71.0% compared to August, and in the import category – oil and oil products, having added 111.0% over the month. New Zealand is celebrating Labor Day today, and the stock exchanges are closed, as evidenced by low trading volumes, and the dynamics can only change after the start of the American session.

The trading instrument is moving within the global downtrend, slightly moving away from the support line.

Resistance levels: 0.5810, 0.5960 | Support levels: 0.5670, 0.5535​

 

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GBPUSD Technical Analysis​

GBPUSD pair hovers around 1.1340 level since morning and keeps its stability below it until now, noticing that the price begins to provide negative trades motivated by stochastic negativity, waiting for more decline for the rest of the day as long as the mentioned level remains intact, reminding you that we are waiting to visit 1.1145 as a first target.

The expected trading range for today is between 1.1200 support and 1.1380 resistance. The expected trend for today: Bearish.​

 

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USDJPY Technical Analysis​

The USDJPY pair succeeded to achieve our waited target at 151.3 and approached 152 barriers, but it declined sharply to achieve bearish correction that stopped at 145.45, to rebound bullishly and start covering the losses that it suffered in the previous sessions, at it returns to the main bullish channel to support the continuation of the overall positive scenario.

Therefore, we expect to witness positive trades in the upcoming sessions supported by the positive signal provided by stochastic now, noting that breaking 148.10 followed by 147.15 levels will stop the expected rise and press on the price to achieve additional bearish correction.

The expected trading range for today is between 148 support and 150 resistances. The expected trend for today: Bullish.​

 

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Walt Disney - Growth is possible.​

On the daily chart, the wave А of the higher level ended, and a downward correction forms as the wave B, within which the wave (А) of B ended, and the development of the correctional upward wave of the lower level (B) of B started. Now, the wave A of (B) has formed, a local correction has developed as the wave B of (B), and the development of the wave C of (B) has started.

If the assumption is correct, the asset will grow to the area of 133 – 146.05. In this scenario, critical stop loss level is 90.65.

 

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USDJPY within tight track​

The USDJPY pair didn’t show any strong move since yesterday, to fluctuate within tight track, settling above the bullish channel’s support line, thus, no change to the bullish trend scenario that depends on the price stability above 148.5, waiting to get positive motive that assists to push the price to head towards our positive targets that start at 150 and extend to 152.

The expected trading range for today is between 148.2 support and 149.9 resistance. The expected trend for today: Bullish.​

 

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USDCAD Tests the Support​

The USDCAD pair shows negative trades to test the key support 1.3680, as it consolidates above it until now, to keep the bullish trend scenario active for the upcoming period, waiting to head towards 1.3830 initially. Breaching 1.3740 will ease the mission of achieving the expected rise, noting that breaking 1.3680 will stop the positive scenario and put the price under additional negative pressure on the intraday basis.

The expected trading range for today is between 1.3640 support and 1.3790 resistance. The expected trend for today: Bullish.​

 

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XAUUSD​

Gold prices show flat trading dynamics, consolidating near 1650.00. Yesterday, "bearish" sentiment prevailed in the instrument, and the XAU/USD pair eventually failed to consolidate on new local highs from October 14. In turn, quotes were moderately supported by the fact of a decrease in the yield of US Treasury bonds. 10-year yields fell from 4.212% to 4.209%, reacting to the publication of disappointing macroeconomic statistics on the level of business activity in October. The S&P Global Manufacturing PMI fell from 52.0 points to 49.9 points, while analysts expected a decrease to 51.2 points, and the Services PMI fell from 49.3 points to 46.6 points, which also turned out to be worse than predicted 49.2 points. Today, the US is expected to publish August data on Housing Price Index from S&P Global, as well as the October statistics on the level of Consumer Confidence.

 

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USDCHF begins with bearish gap​

The USDCHF pair opened today’s trading with bearish gap that puts the price under the key support 0.9990, but it begins to cover this gap and attempts to return to the bullish channel again, to keep the chances valid to continue the expected main bullish trend for the upcoming period, which targets 1.0100 followed by 1.0170 levels mainly. Breaching 1 barrier will reinforce the positive overview, while consolidating below 0.999 will put the price under new correctional bearish pressure on the intraday basis.

The expected trading range for today is between 0.9940 support and 1.008 resistance. The expected trend for today: Bullish.​

 

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Gold Technical Analysis​

Gold price resumes its negative trading to move away from the EMA50, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, waiting for more decline to visit 1615.00 level that represents our next main target, reminding you that the continuation of the bearish wave depends on the price stability below 1660.

The expected trading range for today is between 1625 support and 1665 resistance, and the expected trend for today: Bearish.​

 

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AUDUSD Hits the First Target​

The AUDUSD pair managed to touch our first target at 0.6270 and bounced bullishly from there, affected by stochastic positivity, waiting to resume the main bearish wave that its next main target at 0.6170. Holding below 0.6397 represents major condition to continue the expected decline, as breaching it will lead the price to achieve additional bullish correction that its next target might reach 0.6540.

The expected trading range for today is between 0.6250 support and 0.6380 resistance. The expected trend for today: Bearish.​

 

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EURJPY Awaits the Positive Momentum​

The EURJPY pair formed clear stability yesterday by settling near 147.00, affected by the efficiency of the bullish track that appears on the chart, in addition to forming additional support at 145.65. Stochastic exit from the overbought areas interprets the reasons of the sideways fluctuation and postponing the waited bullish rally, thus, we will keep waiting to gather the additional positive momentum to ease the mission of breaching 147.60 obstacle and reach the positive stations at 148.40 and 149.35 direct.

The expected trading range for today is between 146 and 148. The expected trend for today: Bullish.​

 

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EURUSD - Strong Statistics from Germany supported Euro quotes

The German index of business expectations in October amounted to 75.6 points, which is higher than 75.3 points in September and better than the forecast of 75.0 points. The assessment of the current situation in the region consolidated at 94.1 points, significantly exceeding the pessimistic forecasts of analysts, which suggested a decrease in the indicator to 92.4 points, and the business climate index at 84.3 points, which corresponds to September 84.4 points and exceeds the preliminary scores 83.3 points. According to experts, this data indicates that after five months of pessimistic views, expectations in the country's business circles have finally found a “bottom,” from which a turn in a positive direction can begin.

The trading instrument is moving within the global downwards channel, coming close to the resistance line and demonstrating its readiness to break it.

Resistance levels: 1.0014, 1.0186 | Support levels: 0.9876, 0.9680​

 

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AUDUSD Technical Analysis​

The AUDUSD pair breached 0.6397 level strongly to rally upwards and confirms heading towards the next correctional level at 0.6540, to support the continuation of the expected bullish trend for today, noting that breaching the mentioned level will extend the bullish wave to reach 0.6650, while the expected rise will remain valid conditioned by the price stability above 0.6397.



The expected trading range for today is between 0.6430 support and 0.6540 resistance. The expected trend for today: Bullish.​

 

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XRPUSD - Technical analysis​

The uncertainty of the movement of quotations is associated with the approaching timing of the court decision on the suit of the Securities and Exchange Commission (SEC) against Ripple, as well as the departure of one of its leading specialists, Nik Bougalis, who was previously involved in the software of the XRP Ledger payment system. To continue the decline, the quotes will have to consolidate below 0.4330 (Fibonacci correction 23.6%). In this case, the decline will continue to 0.3906 (Murrey [0/8]) and 0.3570. The zone 0.4883–0.4780 (Murrey [2/8], the middle line of Bollinger Bands) seems to be the key “bullish” region, the breakdown of which will lead to the price exiting the long-term downward channel and give the prospect of further growth to 0.5219 (Fibonacci correction 38.2%) and 0.5371 (Murrey [3/8]).

Resistance levels: 0.4883, 0.5219, 0.5371 | Support levels: 0.4330, 0.3906, 0.357​

 

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GBPJPY Repeats the Bullish Attempts​

The GBPJPY pair kept its stability near 170.10 recorded high, hinting surrendering to the domination of the bullish bias, also, the major indicators continue to provide the positive momentum allowing us to keep the bullish overview that might target 170.70 followed by attempting to achieve additional gains by moving towards 172.45 that forms the next main target.

We remind you that it is important to hold above the additional support 166.70 to confirm blocking trades within the bullish track until reaching the suggested targets. The expected trading range for today is between 168.8 and 170.7

The expected trend for today: Bullish​

 

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USDCAD - Bank of Canada decides to keep the rate hike pace​

Yesterday, the regulator decided to raise the interest rate by 50.0 basis points, not by 75 points, as most experts predicted, bringing it to 3.75% from 3.25% earlier. In an accompanying statement, officials noted that they expect the country's gross domestic product (GDP) to seriously slowdown from 3.25% to less than 1.00% by early 2023 due to inflation, which, although it fell from 8.1% in the last quarter to 6.9% the basis of this weakening was fuel prices, which fell on the world market. Core inflation, a more accurate indicator of consumer prices, has not eased, and the Bank of Canada expects negative dynamics only in the second half of 2023.

On the daily chart of the asset, the price is trying to consolidate in a downward corrective trend.

Resistance levels: 1.3610, 1.387 | Support levels: 1.3500, 1.325​

 

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Gold price builds support base​

Gold price settles above 1660 level and attempts to gain the positive momentum on the intraday time frames, while the EMA50 continues to support the price from below.

Therefore, the bullish trend scenario will remain valid and active for the upcoming period, affected by the previously completed inverted head and shoulders’ pattern, waiting to visit 1686.40 level as a next main target, reminding you that the continuation of the bullish wave depends on the price stability above 1660.

The expected trading range for today is between 1650 support and 1686 resistance, and the expected trend for today: Bullish.​

 

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EURUSD Under the Negative Pressure​

The EURUSD pair ended yesterday below 1.0000 level, to fall under potential negative pressure in the upcoming sessions, but we notice that stochastic shows clear positive signals that pushes the price to start positively today, to face contradiction between the technical factors that makes us prefer to stay aside until the price confirms its situation according to the mentioned level.

Note that consolidating below it will press on the price to achieve new declines and head towards 0.9890 followed by 0.9850 levels, while breaching it will lead the price to resume the correctional bullish wave that its next targets located at 1.0150 followed by 1.0285.

The expected trading range for today is between 0.9900 support and 1.0080 resistance. The expected trend for today: Neutral.​

 

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NZDUSD Breaches the Resistance​

The NZDUSD pair rallies upwards now to breach 0.5835 level and attempts to hold above it, reinforcing the expectations of continuing the correctional bullish trend, opening the way to head towards 0.5910 as a next main target. The EMA50 continues to support the suggested bullish wave, noting that holding above 0.5835 represents initial condition to continue the expected rise.

The expected trading range for today is between 0.5810 support and 0.5930 resistance. The expected trend for today: Bullish.​