Daily Forex Analysis SUMMARY.

  • The US dollar stabilized in the early Asian trading session this Thursday, US stimulus remains the focus for the markets, which were interrupted in recent days by the degree of progress made on the potential size of the aid package
  • Analysts said the US dollar was also pressured by surging currencies such as the Pound, which surged to its highest level in six weeks last night after Britain’s chief Brexit negotiator said talks with the European Union would resume this Thursday afternoon

Market Fx Techincal Overview October 22th, 2020

EURUSD

The 1.1857 area is a signal for continued strengthening of the Euro, if it breaks and closes H4 above the 1.1888 area, the target is to the 1.1919 area, otherwise the 1.1810 area is a signal of weakness, closing H4 is below the 1.1777 area target to the 1.1755 area. Buy levels : 1.1825-1.1842 Cutloss : 1.1775, Sell levels : 1.1914-1.1955 Cutloss : 1.1999

GBPUSD

Yesterday’s high (1.3175) is a signal of strengthening Pound, if it breaks and closes H4 above the area, the target is to the 1.3222 area, conversely 1.3080 will signal a weakening, if the closing of H4 is brought the target area is 1.3017. Buy levels : 1.3030-1.3070 Cutloss : 1.2980, Sell levels : 1.3135-1.3172 Cutloss : 1.3222

AUDUSD

The 0.7126 area is a signal of strengthening the Aussie if the closing H4 above the area targets the 0.7171 area, on the other hand the 0.7071 area becomes a signal of weakness if the closing H4 is below the 0.7017 area, the 0.7000 target. Buy levels : 0.7045-0.7085 Cutloss : 0.7005, Sell levels : 0.7156-0.7180 Cutloss : 0.7212

USDJPY

Yesterday’s low (104.33) is a signal for further strengthening of the Yen, if H4 breaks and closes below that area, the target is to the 103.90 area, otherwise the 104.95 area will be a signal of weakening Yen. Buy levels : 103.85-104.04 Cutloss : 104.55, Sell levels : 104.70-104.90 Cutloss : 105.26

USDCHF

The 0.9040 area is crucial in the continuation of the strengthening of the Swiss Franc, if the closing of H4 is below yesterday’s low (0.9028) the target is to the 0.9000 area, on the other hand the 0.9070 area becomes a signal of weakness if the closing of H4 is above the 0.9090 area, the target is the 0.9120 area. Buy levels : 0.8988-0.9009 Cutloss : 0.8960, Sell levels : 0.9065-0.9090 Cutloss : 0.9125

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