EURUSD has traded to or a humble above- the upper end of the recent trading range of 1.1100-1.1300 still though the news flow over the past  hours has hardly been constructive for Europe  Deutsche Bank’s large, reported loss and the considerably larger than expected turn down in German exports in August. The consolidation continues but the basic set up for EURUSD remains negative as the market appears to be consolidating in front of another push lower. Short-term MA signals tell us little from an intraday perspective as the EUR has done little but flip-flop also side of the 20-day signal since the third week of September. With the 1.1100-1.1300 range well established and the EUR clearly struggling to hold on to gains above 1.1270 over the last three weeks, risk/reward favours shorts intraday with stops left above the high. Intraday trading range between 1.1210 support and 1.1380 resistance.

Supp:       1.1300     1.1210     1.1140

Res:          1.1320     1.1380     1.1450


Expected trend for today: Bullish






GBP is flat following the BoE monetary policy announcement. As usual, the BoE left monetary policy settings unaffected this month. GBPUSD has rise during the early part of month except the broader trend has been oriented a bit lower since the middle of the year, denoted by a succession of lower lows and lower highs. October’s’ rally has taken the GBP back to, or a little above, the 200-DMA (1.5320). The broader trend being worse and the 200-day MA showing signs of holding GBP gains intraday, we think risk/reward favours selling GBPUSD now with stops place over the high. Intraday trading range between 1.5240 support and 1.5420 resistance.

Supp:       1.5335     1.5240    1.5170

Res:          1.5345     1.5420    1.5500


Expected trend for today: Bullish






AUD/USD is underperforming; its decline concentrated through the first half of the Asian session, weakening in response to China’s return from holidays. The AUD rally from late September has been impressive and largely driven by sentiment with a focus on Fed normalization and the potential for delay following the recent U.S. employment disappointment.AUD pair try to touch double top 0.7290, therefore, breaking it will offer strong encouraging motive that supports achieving more gains in the upcoming trading session, which extend to reach 0.7655. consequently, we carry on to suggest the bullish trend on today and short term basis support by the 50DMA, noting that holding over 0.7158 level represents the first defensive factor for our suggested positive outline.

Supp:       0.7190     0.7100   0.7020

Res:          0.7230     0.7300   0.7370


Expected trend for today: Bullish






USD/JPY is strengthening into the NA open, its modest gains driven by an improvement in domestic current account data as well as the steady deterioration in the broader market tone. Momentum signals are conflicted close to neutral and trend signals are remarkably muted with short-term MA’s recently clustered around 120.20. The extended lower shadows of several recent candles highlight sensitivity to short-lived decline. We maintain a bias to medium-term gains. Intraday trading range between 119.50 support and 121.30 resistance.

Supp:       119.80    119.50     119.00

Res:          120.30     121.20    121.90


Expected trend for today: Neutral






Gold price visit the key support 1135.00 and back bounce sharply, 50DMA to strengthen this support, as well stochastic show positive aspect. These factors keep prefer the bullish trend in the coming trading sessions, which its major targets begin at 1170.00 and extend to 1200.00, as achieving it conditioned by holding over 1165.00- 1135.00 mention levels. Intraday trading range between 1130.00 support and 1165.00 resistances

Supp:       1150.00    1135.00     1115.00

Res:          1158.00    1165.00     1180.00


Expected trend for today: Bullish






Silver price visit 15.45 level that turned into key support after breaching it before, as the price kept its constancy above the mentioned level and bounced bullishly resume the bullish bias, to keep the bullish scenario valid and active on today and short term basis, waiting to breach 15.80 level to confirm opening the way to visit 16.20 followed by 16.80 levels, 50DMA supported the positive impression, which its continuation conditions holding above 15.50.Intraday trading range between 15.40 support and 16.20 resistance.

Supp:       15.86    15.50    15.30

Res:          15.90    16.20    16.50


Expected trend for today: Bullish





crude oil

Crude oil price come back with strong positive trading and start the attempts to break the key resistance level at 49.90, as the price driven above this mention levels, which supports the continuation of the bullish trend efficiently on the short term basis, and open the way towards our next target at 52.50 in coming trading sessions. Consequently, the bullish trend scenario will continue valid and active supported by 50DMA, noting that stochastic current negativity might cause some temporary sideways oscillation before resuming the suggested bullish trend, which its continuation conditions holding over 46.85.Intraday trading range between 49.50 support and 52.50 resistance.

Supp:       50.10     49.50     48.40

Res:          50.50     51.60     52.50


Expected trend for today: Bullish

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