The economic calendar is filled with medium impact economic events such as Unemployment Claims, C.B forex analysis. Leading Index m/m, and Existing Home Sales from the United States on the news front. Besides, the Consumer Confidence from the Eurozone will also remain in the highlights today. The market may show some price action during the U.S. session on the release of U.S. Jobless Claims. 

Daily Forex Analysis SUMMARY

  • Persistent expectations of market participants that Congress will issue a pre-election stimulus package, no matter who is elected, has prompted a sell-off in the bond market in anticipation of the government making more loans
  • USDolar has been sold out throughout this week’s session as the prospect of stimulus has supported investor sentiment and is ‘risk on’ against risk currencies, while underlying caution has also given a boost to the safe-haven Japanese yen

Market Fx Techincal Overview October 23th, 2020

Forex Analysis EURUSD

The 1.1770 area is a signal of continued strengthening of the Euro, if it breaks and closes H4 below the 1.1760 area the target is to the 1.1735 area, otherwise the 1.1815 area is a signal of strengthening, closing H4 is above the 1.1834 area, the target is the 1.1888 area. Buy levels : 1.1760-1.1796 Cutloss : 1.1715, Sell levels : 1.1880-1.1915 Cutloss : 1.1959

october analysis

Forex Analysis 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 : 1.3030-1.3060 Cutloss : 1.2980, Sell levels : 1.3155-1.3182 Cutloss : 1.3222

forex daily analysis 23 october by ianz

Forex Analysis AUDUSD

The 0.7129 area is a signal of strengthening the Aussie if the closing of H4 is above the 0.7137 area, the target is to the 0.7171 area, on the other hand, the 0.7092 area becomes a signal of weakening if H4 closes below the 0.7085 area, the target of 0.7030. Buy levels : 0.7092-0.7075 Cutloss : 0.7035, Sell levels : 0.7175-0.7202 Cutloss : 0.7242

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Forex Analysis 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, on the other hand, the 104.82 area will be a signal of weakening Yen. Buy levels : 103.03-104.33 Cutloss : 103.82, Sell levels : 104.78-105.05 Cutloss : 105.26

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Forex Analysis USDCHF

The 0.9060 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 0.9096 area is a signal of weakness if H4 closes above the 0.9112 area, the target is the 0.9152 area. Buy levels : 0.8999-0.9020 Cutloss : 0.8960, Sell levels : 0.9080-0.9111 Cutloss : 0.9155

forex analysis by soegee futures