Buyers prevailed on USD/CHF yesterday. It’s consolidating at the moment. I expect the growth of the quotes. The preliminary statistics on the US labor market supports the demand for USD. I’ll buy the pair, if it fixes above the 0.9760 local support. It may move to 0.9785-0.9800. Anyway, I can’t exclude the flat movement either. Market participants wait for the report on the US labor market that will be published October 6th.
The report on the US labor market is at the center of attention today. Experts expect that in September, the increase of the number of employed people in the non-agricultural sector will slow down due to the consequences of Harvey and Irma hurricanes. At the same time, the preliminary statistics was quite optimistic. I expect a high volatility today, so I won’t trade but just watch the market. I identified the following key levels:
GBP/USD
support: 1.3060, 1.3000
resistance: 1.3125, 1.3225, 1.3350
The US published a mixed statistics on the labor market on Friday. The technical pattern on majors is ambiguous for me at the moment. I’ll open positions from the key levels.
The bullish sentiment may prevail on EUR/USD in the near future. A strong reversal formation was formed - the divergence of price and MACD. I’ll buy the pair, if it fixes above 1.1750. It may move to 1.1800-1.1825.
The situation on the Korean peninsula began to worsen again. The demand for safe assets may grow in future. A classical PA pattern, Bearish engulfing, appeared on USD/JPY near the 113.25 resistance level. I’ll open shorts, if the pair fixed below 112.45. It may move to 111.50.
Bears may prevail on USD/CAD. The MACD histogram indicated the power of sellers. The pair is testing the 1.2525 mirror support. I’ll sell it, if the price fixes below 1.2510. It may move to 1.2470-1.2450. I’ll use a trailing stop for this position.
Buyers prevailed on AUD/USD during the Asian trading session. The pair has the potential for the further growth. It’s consolidating in the 0.7775-0.7790 range now. I’ll buy the pair, if it fixes above 0.7790. It may move to 0.7820-0.7835.
The FOMC protocols publication is in the focus today. This report may indicate the time of the next increasing the Fed’s key interest rate. Previously, most officials supported another increase this year.
The bullish sentiment was prevailing on EUR/USD since the beginning of this week. I’ll buy the pair after it fixes above the 1.1840 resistance level. It may move 1.1875-1.1900.
If the FOMC protocols don’t confirm the statements of the Fed representatives, aggressive sales may prevail on EUR/USD.
The technical pattern on USD/CAD is ambiguous for me now. The currency is consolidating. I’ve highlighted the key S&R levels: 1.2500 and 1.2525. I’ll open deals, if the price fixes above/below these marks.
I’ll buy USD/CAD in case of breakthrough and retest of the 1.2525 level. The pair may move to 1.2555-1.2590.
I’ll sell the pair, if it fixes below the 1.2500 round level. It may move to 1.2470-1.2450.
Investors focused on the FOMC protocols publication yesterday. Most Fed representatives believe that another increase of the interest rate this be appropriate year will. At the same time, some of the Central Bank reps are concerned about the low inflation level in the country. The probability of tightening the monetary policy this year fell to 81.7%.
The bearish sentiment prevails on the USD/CAD pair now. I plan to open deals in the current trend direction. I’ll sell it, if the price fixes below 1.2450. The pair may move to the 1.2400 round level.
USD/CHF has kept the 0.9710-0.9720local demand zone. It caused the emergence of a bullish sentiment. The pair has the potential for further growth. I’ll buy it, if the price fixes above the 0.9750 mark. Target movement to 0.9775-0.9800
Majors are consolidating before the release of important statistics on the US economy at 12:30 (GMT). The reports on inflation and retail sales will be published today. I plan to look for the entry points after the price fixes above/below the key levels.
I’ll buy USD/CHF, if it overcomes 0.9760. It may move to the 0.9800 round level.
I’ll buy USD/CAD in case of the breakthrough and retest of 1.2480. It may move to 1.2525-1.2550.
I’ll sell the pair, if it fixes below 1.2455. It may move to 1.2400.
GBP/USD is consolidating. The technical pattern is ambiguous. I’ve highlighted the following key support and resistance levels: 1.3275 and 1.3320. I’ll open deals, if the price fixes above/below these marks.
I’ll buy GBP/USD in case of breakthrough and retest of the 1.3320 local resistance. It may move to 1.3350-1.3375.
I’ll sell the pair, if the price fixes below 1.3275. It may move to 1.3225.
The bearish sentiment prevails on USD/JPY now. 111.65 is the local support level. I’ll sell the pair. if the price fixes below the 111.65 level. It may move to 111.25-111.00. I’ll use a trailing stop for this deal.
Aggressive sales are observed on GBP/USD now. The UK consumer price index rose to 3.0% for the last year in September. It was above the target level of the Bank of England. I think that this currency pair has the potential for the further movement. I’ll wait for a correction to the 1.3225-1.3245 local offer zone and sell GBP/USD after it reaches this zone. It may move to 1.3250.
The bearish sentiment prevailed on USD/CAD yesterday. The asset is consolidating at the moment. I expect the further growth of the quotes. I’ll open long positions, if the price fixes above the 1.2550 local support. It may move to 1.2600.
The demand for the US dollar is at a high level now. The technical pattern on AUD/USD indicates emergence of a bearish sentiment. The price is testing the 0.7820 local support. I’ll sell the pair, if it fixes below 0.7820. It may move to 0.7790.
Great Britain has published a mixed report on the labor market. Bears dominate on GBP/USD now. The asset has the potential for declining. The Outside bar PA pattern formed on this pair. I’ll sell GBP/USD, if it fixes below 1.3150. It may move to the 1.3100 round level.
USD/CAD is consolidating now. The market participants wait for the report on the inflation and retail sales (12:30). I’ve identified the key S&R levels: 1.2500 and 1.2520 and will open deals after the price fixes above/below these marks.
I’ll buy USD/CAD after it retests the 1.2520 mark. It may move to 1.2550-1.2575.
I’ll sell, if it fixes below the 1.2500 round level. It may move to 1.2460-1.2450.
