SUMMARY Forex Analysis Today
- The USDolar strengthened slightly in the early Asian trading session this Monday, as soaring coronavirus cases in Europe and the United States and the US stimulus package becoming increasingly unclear made traders cautious, although hopes for a Brexit trade deal remained stable.
- China’s top leaders chart the direction of the economy for 2021-2025 at an important meeting starting this Monday, and could adopt lower or more flexible growth targets.
Market Fx Techincal Overview October 26th, 2020
The 1.1845 area is a signal of continued strengthening of the Euro, if it breaks and closes H4 above the 1.1847 area, the target is to the 1.1875 area, on the other hand the 1.1824 area is a signal of weakness, closing H4 is below the 1.1815 area, the target is the 1.1780 area. Buy levels : 1.1760-1.1796 Cutloss : 1.1715, Sell levels : 1.1835-1.1865 Cutloss : 1.1899
Strong Support : 1.1830 Strong Resistance : 1.1865
The 1.3010 area is a signal for the weakening of the pound, if it closes below the 1.2981 area, the target is to the 1.2930 area, on the other hand the 1.3052 area (MA25) will be a signal for the strengthening of the pound if it closes above the 1.3069 (MA15) area, the target is the 1.3111 area. Buy levels : 1.2930-1.2960 Cutloss : 1.2900, Sell levels : 1.3040-1.3085 Cutloss : 1.3111
Strong Support : 1.3010 Strong Resistance : 1.3073
The 0.7134 area is a signal of strengthening the Aussie if the closing H4 is above the 0.7156 target area to the 0.7191 area, on the other hand, the 0.7102 area becomes a signal for weakening if H4 closes below the 0.7087 target 0.7040 area. Buy levels : 0.7040-0.7065 Cutloss : 0.7015, Sell levels : 0.7118-0.7150 Cutloss : 0.7175
Strong Support : 0.7047 Strong Resistance : 0.7130
The 104.92 area becomes a strong resistance area, if it breaks and closes H4 above the 105.03 area the target is to the 105.30 area, on the other hand the 104.75 area signals a strengthening of the Yen, if closing below that area the target is the 104.30 area. Buy levels : 104.43-104.73 Cutloss : 104.04, Sell levels : 104.92-105.20 Cutloss : 105.56
Strong Support : 104.80 Strong Resistance : 105.03
The 0.9057 area is a signal for the weakening of the Swiss Franc, if the H4 closes above the area to the 0.9085 area, on the other hand the 0.9044 area signals a strengthening, closing below the 0.9028 area target to the 0.9000 area. Buy levels : 0.9020-0.9045 Cutloss : 0.9000, Sell levels : 0.9080-0.9111 Cutloss : 0.9155
Strong Support : 0.9028 Strong Resistance : 0.9087
Analysis by : ianz forex specialist